Travelers 2014 Annual Report Download - page 194

Table of Contents
THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
3. INVESTMENTS (Continued)
Unrealized Investment Losses
The following tables summarize, for all investments in an unrealized loss position at December 31, 2014 and 2013, the aggregate fair value and
gross unrealized loss by length of time those securities have been continuously in an unrealized loss position. The fair value amounts reported in
the tables are estimates that are prepared using the process described in note 4. The Company also relies upon estimates of several factors in its
review and evaluation of individual investments, using the process described in note 1, in determining whether such investments are other
- than -
temporarily impaired.
193
Less than 12 months
12 months or longer
Total
(at December 31, 2014, in millions)
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fair
Value
Gross
Unrealized
Losses
Fixed maturities
U.S. Treasury securities and
obligations of U.S.
government and
government agencies and
authorities
$
180
$
2
$
125
$
3
$
305
$
5
Obligations of states,
municipalities and political
subdivisions
173
1
797
9
970
10
Debt securities issued by
foreign governments
50
—
24
—
74
—
Mortgage - backed securities,
collateralized mortgage
obligations and pass
-
through securities
68
—
192
4
260
4
All other corporate bonds
2,148
38
2,355
61
4,503
99
Redeemable preferred stock
—
—
—
—
—
—
Total fixed maturities
2,619
41
3,493
77
6,112
118
Equity securities
Public common stock
81
4
1
—
82
4
Non - redeemable preferred
stock
44
1
42
1
86
2
Total equity securities
125
5
43
1
168
6
Total
$
2,744
$
46
$
3,536
$
78
$
6,280
$
124