Travelers 2014 Annual Report Download - page 113
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Table of Contents
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, 2014.
The following table shows the Company's Eurozone exposure at December 31, 2014 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 corporate securities (comprised of industrial corporations and utility companies) which could be affected if economic conditions
deteriorated due to a prolonged recession.
112
(at December 31, 2014, in millions)
Carrying
Value
Average Credit
Quality(1)
Foreign Government:
Canada
$
1,439
Aaa
United Kingdom
826
Aaa/Aa1
All Others(2)(3)
103
Aa1
Total
$
2,368
Aaa/Aa1
(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.