Travelers 2014 Annual Report Download - page 204

Table of Contents
THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
4. FAIR VALUE MEASUREMENTS (Continued)
The following tables present the changes in the Level 3 fair value category for the years ended December 31, 2014 and 2013.
203
(in millions)
Fixed
Maturities
Other
Investments
Total
Balance at December 31, 2013
$
255
$
34
$
289
Total realized and unrealized investment gains (losses):
Reported in net realized investment gains(1)
3
1
4
Reported in increases (decreases) in other comprehensive
income
(2
)
1
(1
)
Purchases, sales and settlements/maturities:
Purchases
232
1
233
Sales
(1
)
(1
)
(2
)
Settlements/maturities
(90
)
—
( 90
)
Gross transfers into Level 3
18
—
18
Gross transfers out of Level 3
(183
)
—
( 183
)
Balance at December 31, 2014
$
232
$
36
$
268
Amount of total realized investment gains (losses) for the period
included in the consolidated statement of income attributable to
changes in the fair value of assets still held at the reporting date
$
—
$
—
$
—
(1) Includes impairments on investments held at the end of the period as well as amortization on fixed maturities.
(in millions)
Fixed
Maturities
Other
Investments
Total
Balance at December 31, 2012
$
230
$
54
$
284
Total realized and unrealized investment gains (losses):
Reported in net realized investment gains(1)
4
12
16
Reported in increases (decreases) in other comprehensive
income
(2
)
1
(1
)
Purchases, sales and settlements/maturities:
Purchases
180
—
180
Sales
(25
)
(33
)
(58
)
Settlements/maturities
(83
)
—
( 83
)
Gross transfers into Level 3
15
—
15
Gross transfers out of Level 3
(64
)
—
( 64
)
Balance at December 31, 2013
$
255
$
34
$
289
Amount of total realized investment gains (losses) for the period
included in the consolidated statement of income attributable to
changes in the fair value of assets still held at the reporting date
$
—
$
—
$
—
(1) Includes impairments on investments held at the end of the period as well as amortization on fixed maturities.