Travelers 2012 Annual Report Download - page 254

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
16. CONTINGENCIES, COMMITMENTS AND GUARANTEES (Continued)
obligation related to the guarantee of certain insurance policy obligations of a former insurance
subsidiary was $480 million at December 31, 2012, all of which is indemnified by a third party.
17. NONCASH INVESTING AND FINANCING ACTIVITIES
There were no material noncash financing or investing activities during the years ended
December 31, 2012, 2011 and 2010.
18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND
SUBSIDIARIES
The following consolidating financial statements of the Company have been prepared pursuant to
Rule 3-10 of Regulation S-X. These consolidating financial statements have been prepared from the
Company’s financial information on the same basis of accounting as the consolidated financial
statements. The Travelers Companies, Inc. has fully and unconditionally guaranteed certain debt
obligations of TPC, its wholly-owned subsidiary, which totaled $1.20 billion at December 31, 2012.
Prior to the merger of TPC and SPC in 2004, TPC fully and unconditionally guaranteed the
payment of all principal, premiums, if any, and interest on certain debt obligations of its wholly-owned
subsidiary TIGHI. Concurrent with the merger, The Travelers Companies, Inc. fully and unconditionally
assumed such guarantee obligations of TPC. TPC is deemed to have no assets or operations
independent of TIGHI. Consolidating financial information for TIGHI has not been presented herein
because such financial information would be substantially the same as the financial information
provided for TPC.
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