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ASSURANT, INC. – 2013 Form 10-KF-26
5 Fair Value Disclosures
The following tables summarize the change in balance sheet carrying value associated with Level 3 fi nancial assets and
liabilities carried at fair value during the years ended December 31, 2013 and 2012:
Financial Assets
Year Ended December 31, 2013
Balance,
beginning
of period
Total gains
(losses)
(realized/
unrealized)
included in
earnings(1)
Net unrealized
(losses) gains
included in
other
comprehensive
income(2) Purchases Sales
Transfers
in(3)
Transfers
out(3)
Balance,
end of
period
Fixed Maturity Securities
United States Government
and government agencies and
authorities $ 4,175 $ 0 $ (3) $ 0 $ (4,172) $ 0 $ 0 $ 0
States, municipalities and
political subdivisions 0 (3) 1,675 20,985 0 0 0 22,657
Foreign governments 23,097 (6) (3,582) 0 0 0 (2,652) 16,857
Commercial mortgage-backed 1,774 20 (30) 0 (1,166) 0 0 598
Residential mortgage-backed 8,211 (19) (1,156) 29,938 (2,406) 0 (30,401) 4,167
Corporate 158,003 6,979 (5,383) 5,325 (33,974) 4,997 (20,603) 115,344
Equity Securities
Non-redeemable preferred
stocks 14 12 (42) 5,275 (2,041) 4,305 (13) 7,510
Other investments 11,327 (1,274) 1,827 8 (7,717) 0 0 4,171
Other assets 5,886 (3,395) 0 0 0 0 0 2,491
Financial Liabilities
Other liabilities (2,560) 127 0 (17,897) 0 0 0 (20,330)
TOTAL LEVEL 3 ASSETS
AND LIABILITIES
$ 209,927 $ 2,441 $ (6,694) $ 43,634 $ (51,476) $ 9,302 $ (53,669) $ 153,465
Financial Assets
Year Ended December 31, 2012
Balance,
beginning
of period
Total gains
(losses)
(realized/
unrealized)
included in
earnings(1)
Net unrealized
gains (losses)
included in
other
comprehensive
income(2) Purchases Sales
Transfers
in(3)
Transfers
out(3)
Balance,
end of
period
Fixed Maturity Securities
United States Government
and government agencies and
authorities $ 4,400 $ (3) $ (10) $ 0 $ (212) $ 0 $ 0 $ 4,175
Foreign governments 22,713 79 987 0 (682) 0 0 23,097
Asset-backed 453 0 0 0 0 0 (453) 0
Commercial mortgage-backed 904 54 (26) 0 (2,053) 2,895 0 1,774
Residential mortgage-backed 1,867 (17) 331 1,930 (1,098) 7,065 (1,867) 8,211
Corporate 137,629 2,040 11,810 8,942 (19,667) 18,701 (1,452) 158,003
Equity Securities
Non-redeemable preferred
stocks 13 0 12 0 0 4 (15) 14
Other investments 18,257 1 839 0 (8,631) 1,488 (627) 11,327
Other assets 8,521 (2,635) 0 0 0 0 0 5,886
Financial Liabilities
Other liabilities (2,720) 160 0 0 0 0 0 (2,560)
TOTAL LEVEL 3 ASSETS
AND LIABILITIES
$ 192,037 $ (321) $ 13,943 $ 10,872 $(32,343) $ 30,153 $ (4,414) $ 209,927
(1) Included as part of net realized gains on investments in the consolidated statement of operations.
(2) Included as part of change in unrealized gains on securities in the consolidated statement of comprehensive income.
(3) Transfers are primarily attributable to changes in the availability of observable market information and re-evaluation of the observability of
pricing inputs.