Progressive 2014 Annual Report Download - page 15

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The following tables show the composition of gross unrealized losses by major security type and by the length of time that
individual securities have been in a continuous unrealized loss position:
Total
No. of
Total
Fair
Gross
Unrealized
Less than 12 Months 12 Months or Greater
No. of Fair Unrealized No. of Fair Unrealized
($ in millions) Sec. Value Losses Sec. Value Losses Sec. Value Losses
December 31, 2014
Fixed maturities:
U.S. government obligations 11 $ 428.2 $ (1.3) 5 $ 150.7 $ (0.3) 6 $ 277.5 $ (1.0)
State and local government
obligations 46 234.2 (1.1) 28 177.9 (0.4) 18 56.3 (0.7)
Corporate debt securities 53 843.2 (10.4) 43 647.5 (6.1) 10 195.7 (4.3)
Residential mortgage-backed
securities 70 844.2 (10.8) 33 465.2 (3.1) 37 379.0 (7.7)
Commercial mortgage-backed
securities 63 723.4 (2.6) 54 667.5 (1.4) 9 55.9 (1.2)
Other asset-backed securities 44 741.8 (0.8) 42 715.7 (0.7) 2 26.1 (0.1)
Redeemable preferred stocks 3 103.0 (5.7) 1 33.0 (1.0) 2 70.0 (4.7)
Total fixed maturities 290 3,918.0 (32.7) 206 2,857.5 (13.0) 84 1,060.5 (19.7)
Equity securities:
Nonredeemable preferred stocks 8 231.4 (6.4) 5 143.2 (3.6) 3 88.2 (2.8)
Common equities 20 68.4 (10.1) 19 61.8 (9.6) 1 6.6 (0.5)
Total equity securities 28 299.8 (16.5) 24 205.0 (13.2) 4 94.8 (3.3)
Total portfolio 318 $4,217.8 $(49.2) 230 $3,062.5 $(26.2) 88 $1,155.3 $(23.0)
Total
No. of
Total
Fair
Gross
Unrealized
Less than 12 Months 12 Months or Greater
No. of Fair Unrealized No. of Fair Unrealized
($ in millions) Sec. Value Losses Sec. Value Losses Sec. Value Losses
December 31, 2013
Fixed maturities:
U.S. government obligations 29 $1,444.3 $ (16.6) 28 $1,434.6 $(16.3) 1 $ 9.7 $ (0.3)
State and local government
obligations 141 844.2 (18.4) 119 759.3 (17.1) 22 84.9 (1.3)
Corporate debt securities 51 997.6 (20.4) 45 831.1 (17.8) 6 166.5 (2.6)
Residential mortgage-backed
securities 66 763.5 (14.1) 45 597.6 (7.9) 21 165.9 (6.2)
Commercial mortgage-backed
securities 76 1,061.9 (37.8) 60 809.2 (19.7) 16 252.7 (18.1)
Other asset-backed securities 25 287.2 (2.1) 22 233.3 (1.8) 3 53.9 (0.3)
Redeemable preferred stocks 4 122.7 (9.7) 0 0 0 4 122.7 (9.7)
Total fixed maturities 392 5,521.4 (119.1) 319 4,665.1 (80.6) 73 856.3 (38.5)
Equity securities:
Nonredeemable preferred stocks 7 142.3 (4.5) 7 142.3 (4.5) 0 0 0
Common equities 24 59.7 (2.4) 20 58.5 (2.4) 4 1.2 0
Total equity securities 31 202.0 (6.9) 27 200.8 (6.9) 4 1.2 0
Total portfolio 423 $5,723.4 $(126.0) 346 $4,865.9 $(87.5) 77 $857.5 $(38.5)
App.-A-14