Travelers 2015 Annual Report Download - page 188

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
3. INVESTMENTS
Fixed Maturities
The amortized cost and fair value of investments in fixed maturities classified as available for sale
were as follows:
Gross Unrealized
Amortized Fair
(at December 31, 2015, in millions) Cost Gains Losses Value
U.S. Treasury securities and obligations of U.S. government and
government agencies and authorities .................... $ 2,202 $ 8 $ 16 $ 2,194
Obligations of states, municipalities and political subdivisions:
Local general obligation ............................. 12,744 577 3 13,318
Revenue ........................................ 9,492 472 4 9,960
State general obligation ............................. 1,978 97 2 2,073
Pre-refunded ..................................... 5,813 247 — 6,060
Total obligations of states, municipalities and political
subdivisions .................................. 30,027 1,393 9 31,411
Debt securities issued by foreign governments ............... 1,829 45 1 1,873
Mortgage-backed securities, collateralized mortgage obligations
and pass-through securities ........................... 1,863 124 6 1,981
All other corporate bonds ............................. 22,854 523 288 23,089
Redeemable preferred stock ........................... 103 7 — 110
Total ......................................... $58,878 $2,100 $320 $60,658
Gross Unrealized
Amortized Fair
(at December 31, 2014, in millions) Cost Gains Losses Value
U.S. Treasury securities and obligations of U.S. government and
government agencies and authorities .................... $ 2,022 $ 36 $ 5 $ 2,053
Obligations of states, municipalities and political subdivisions:
Local general obligation ............................. 12,366 644 5 13,005
Revenue ........................................ 9,833 575 4 10,404
State general obligation ............................. 2,467 137 1 2,603
Pre-refunded ..................................... 7,229 332 — 7,561
Total obligations of states, municipalities and political
subdivisions .................................. 31,895 1,688 10 33,573
Debt securities issued by foreign governments ............... 2,320 48 — 2,368
Mortgage-backed securities, collateralized mortgage obligations
and pass-through securities ........................... 2,052 165 4 2,213
All other corporate bonds ............................. 22,390 844 99 23,135
Redeemable preferred stock ........................... 122 10 — 132
Total ......................................... $60,801 $2,791 $118 $63,474
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