Travelers 2014 Annual Report Download - page 195

Table of Contents
THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
3. INVESTMENTS (Continued)
The following table summarizes, for all fixed maturities and equity securities reported at fair value for which fair value is less than 80% of
amortized cost at December 31, 2014, the gross unrealized investment loss by length of time those securities have continuously been in an
unrealized loss position of greater than 20% of amortized cost:
194
Less than 12 months
12 months or longer
Total
(at December 31, 2013, 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
$
433
$
12
$
—
$
—
$
433
$
12
Obligations of states,
municipalities and political
subdivisions
4,785
298
432
64
5,217
362
Debt securities issued by
foreign governments
907
8
1
—
908
8
Mortgage - backed securities,
collateralized mortgage
obligations and pass
-
through securities
542
17
21
1
563
18
All other corporate bonds
6,887
253
421
46
7,308
299
Redeemable preferred stock
82
1
—
—
82
1
Total fixed maturities
13,636
589
875
111
14,511
700
Equity securities
Public common stock
53
1
—
—
53
1
Non - redeemable preferred
stock
147
2
—
—
147
2
Total equity securities
200
3
—
—
200
3
Total
$
13,836
$
592
$
875
$
111
$
14,711
$
703
Period For Which Fair Value Is Less Than 80% of Amortized Cost
(in millions)
3 Months
or Less
Greater Than
3 Months,
6 Months
or Less
Greater Than
6 Months,
12 Months
or Less
Greater Than
12 Months
Total
Fixed maturities
Mortgage - backed securities
$
—
$
—
$
—
$
—
$
—
Other
4
—
2
2
8
Total fixed maturities
4
—
2
2
8
Equity securities
—
—
—
—
—
Total
$
4
$
—
$
2
$
2
$
8