Travelers 2012 Annual Report Download - page 117
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Debt Securities Issued by Foreign Governments
The following table shows the geographic distribution of the Company’s long-term fixed maturity
investments in debt securities issued by foreign governments at December 31, 2012.
Carrying Average Credit
(at December 31, 2012, in millions) Value Quality(1)
Foreign Government:
Canada ...................................... $1,025 Aaa
United Kingdom ............................... 945 Aaa
Norway ..................................... 74 Aaa
Germany .................................... 70 Aaa
All Others(2)(3) ............................... 143 Aa2
Total ...................................... $2,257
(1) Rated using external rating agencies or by the Company when a public rating does not
exist.
(2) The Company does not have direct exposure to sovereign debt issued by the Republic of
Ireland, Italy, Greece, Portugal or Spain.
(3) No other country accounted for 2.5% or more of total debt securities issued by foreign
governments.
The following table shows the Company’s Eurozone exposure at December 31, 2012 to all debt
securities issued by foreign governments, financial companies, sovereign corporations (including
sovereign banks) whose securities are backed by the respective country’s government and all other
105