Travelers 2014 Annual Report Download - page 203

Table of Contents
THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
4. FAIR VALUE MEASUREMENTS (Continued)
from Level 1 to Level 2. In addition, the Company had transfers of $11 million of non
- redeemable preferred stock and $2 million of redeemable
preferred stock from Level 2 to Level 1.
During the year ended December 31, 2013, the Company had transfers of $31 million of redeemable preferred stock and $54 million of non
-
redeemable preferred stock from Level 1 to Level 2.
202
(at December 31, 2013, 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
$
2,315
$
2,298
$
17
$
—
Obligations of states, municipalities and political
subdivisions
35,562
1
35,538
23
Debt securities issued by foreign governments
2,577
—
2,577
—
Mortgage - backed securities, collateralized mortgage
obligations and pass
- through securities
2,424
—
2,415
9
All other corporate bonds
20,940
—
20,726
214
Redeemable preferred stock
138
—
129
9
Total fixed maturities
63,956
2,299
61,402
255
Equity securities
Public common stock
610
610
—
—
Non - redeemable preferred stock
333
138
195
—
Total equity securities
943
748
195
—
Other investments
53
19
—
34
Total
$
64,952
$
3,066
$
61,597
$
289