Travelers 2015 Annual Report Download - page 201

THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
4. FAIR VALUE MEASUREMENTS (Continued)
(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
During the year ended December 31, 2014, the Company’s transfers between Level 1 and Level 2
were not significant.
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