Travelers 2012 Annual Report Download - page 215

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
6. GOODWILL AND OTHER INTANGIBLE ASSETS (Continued)
The following presents a summary of the Company’s amortization expense for other intangible
assets by major asset class:
(for the year ended December 31, in millions) 2012 2011 2010
Customer-related ................................................. $33 $47 $61
Fair value adjustment on claims and claim adjustment expense reserves and
reinsurance recoverables .......................................... 19 22 25
Total amortization expense ......................................... $52 $69 $86
Intangible asset amortization expense is estimated to be $45 million in 2013, $43 million in 2014,
$23 million in 2015, $9 million in 2016 and $8 million in 2017.
7. INSURANCE CLAIM RESERVES
Claims and claim adjustment expense reserves were as follows:
(at December 31, in millions) 2012 2011
Property-casualty ................................................. $50,888 $51,353
Accident and health .............................................. 34 39
Total ........................................................ $50,922 $51,392
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