Travelers 2013 Annual Report Download - page 217

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
6. GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill
The following table presents the carrying amount of the Company’s goodwill by segment at
December 31, 2013 and 2012:
(in millions) 2013 2012
Business Insurance ................................................. $2,168 $2,168
Financial, Professional & International Insurance(1) ......................... 826 557
Personal Insurance ................................................. 613 613
Other .......................................................... 27 27
Total ......................................................... $3,634 $3,365
(1) Goodwill of $273 million was recorded at November 1, 2013 as a result of the acquisition of
Dominion and is subject to the impact of changes in foreign currency exchange rates. At
December 31, 2013, goodwill related to Dominion was $268 million.
Other Intangible Assets
The following presents a summary of the Company’s other intangible assets by major asset class at
December 31, 2013 and 2012:
Gross
Carrying Accumulated
(at December 31, 2013, in millions) Amount Amortization Net
Intangibles subject to amortization
Customer-related(1) ....................................... $460 $414 $ 46
Fair value adjustment on claims and claim adjustment expense reserves,
reinsurance recoverables and other contract-related intangibles(2) .... 201 113 88
Total intangible assets subject to amortization ................... 661 527 134
Intangible assets not subject to amortization(3)................... 217 — 217
Total other intangible assets ................................ $878 $527 $351
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