Travelers 2014 Annual Report Download - page 202
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Table of Contents
THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
4. FAIR VALUE MEASUREMENTS (Continued)
2013. An investment transferred between levels during a period is transferred at its fair value as of the beginning of that period.
During the year ended December 31, 2014, the Company had transfers of $1 million of obligations of states, municipalities and political
subdivisions and $7 million of non
-
redeemable preferred stock
201
(at December 31, 2014, in millions)
Total
Level 1
Level 2
Level 3
Invested assets:
Fixed maturities
U.S. Treasury securities and obligations of U.S.
government and government agencies and
authorities
$
2,053
$
2,049
$
4
$
—
Obligations of states, municipalities and political
subdivisions
33,573
—
33,560
13
Debt securities issued by foreign governments
2,368
—
2,368
—
Mortgage
-
backed securities, collateralized mortgage
obligations and pass
-
through securities
2,213
—
2,203
10
All other corporate bonds
23,135
—
22,934
201
Redeemable preferred stock
132
2
122
8
Total fixed maturities
63,474
2,051
61,191
232
Equity securities
Public common stock
691
691
—
—
Non
-
redeemable preferred stock
208
82
126
—
Total equity securities
899
773
126
—
Other investments
55
19
—
36
Total
$
64,428
$
2,843
$
61,317
$
268