Ameriprise 2008 Annual Report Download - page 123
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7. Investments
The following is a summary of investments:
December 31,
2008 2007
(in millions)
Available-for-Sale securities, at fair value $ 22,873 $ 25,931
Commercial mortgage loans, net 2,887 3,097
Trading securities 501 504
Policy loans 729 706
Other investments 532 387
Total $ 27,522 $ 30,625
Available-for-Sale Securities
Available-for-Sale securities distributed by type were as follows:
December 31, 2008
Gross Gross
Unrealized Unrealized
Description of Securities Amortized Cost Gains Losses Fair Value
(in millions)
Corporate debt securities $ 13,687 $ 86 $ (1,174) $ 12,599
Mortgage and other asset backed securities 9,551 111 (736) 8,926
State and municipal obligations 1,024 4 (155) 873
U.S. government and agencies obligations 257 14 — 271
Foreign government bonds and obligations 95 17 (5) 107
Common and preferred stocks 53 6 (22) 37
Structured investments 31 19 — 50
Other debt 10 — — 10
Total $ 24,708 $ 257 $ (2,092) $ 22,873
December 31, 2007
Gross Gross
Unrealized Unrealized
Description of Securities Amortized Cost Gains Losses Fair Value
(in millions)
Corporate debt securities $ 14,158 $ 113 $ (328) $ 13,943
Mortgage and other asset backed securities 10,517 38 (162) 10,393
State and municipal obligations 1,038 14 (17) 1,035
U.S. government and agencies obligations 322 7 (1) 328
Foreign government bonds and obligations 97 15 — 112
Common and preferred stocks 53 6 (1) 58
Structured investments 46 — — 46
Other debt 16 — — 16
Total $ 26,247 $ 193 $ (509) $ 25,931
At December 31, 2008 and 2007, fixed maturity securities comprised approximately 83% and 85%, respectively, of the
Company’s total investments. These securities were rated by Moody’s and Standard & Poor’s (‘‘S&P’’), except for
approximately $1.2 billion and $1.4 billion of securities at December 31, 2008 and 2007, respectively, which were rated by
the Company’s internal analysts using criteria similar to Moody’s and S&P. Ratings on investment grade securities are
100