Travelers 2015 Annual Report Download - page 192

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
3. INVESTMENTS (Continued)
Unrealized Investment Losses
The following tables summarize, for all investments in an unrealized loss position at December 31,
2015 and 2014, the aggregate fair value and gross unrealized loss by length of time those securities
have been continuously in an unrealized loss position. The fair value amounts reported in the tables are
estimates that are prepared using the process described in note 4. The Company also relies upon
estimates of several factors in its review and evaluation of individual investments, using the process
described in note 1, in determining whether such investments are other-than-temporarily impaired.
Less than 12 months 12 months or longer Total
Gross Gross Gross
Fair Unrealized Fair Unrealized Fair Unrealized
(at December 31, 2015, in millions) Value Losses Value Losses Value Losses
Fixed maturities
U.S. Treasury securities and obligations
of U.S. government and government
agencies and authorities ......... $ 1,820 $ 15 $ 28 $ 1 $ 1,848 $ 16
Obligations of states, municipalities
and political subdivisions ......... 928 7 142 2 1,070 9
Debt securities issued by foreign
governments .................. 172 1 — — 172 1
Mortgage-backed securities,
collateralized mortgage obligations
and pass-through securities ....... 473 4 57 2 530 6
All other corporate bonds .......... 7,725 197 710 91 8,435 288
Redeemable preferred stock ........ 8— — — 8—
Total fixed maturities ........... 11,126 224 937 96 12,063 320
Equity securities
Public common stock ............. 48 6 33 1 81 7
Non-redeemable preferred stock ..... 47 3 38 3 85 6
Total equity securities ........... 95 9 71 4 166 13
Total ....................... $11,221 $233 $1,008 $100 $12,229 $333
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