TRAVELERS COMPANIES, INC. | 2013 | FY | 3


 

(at and for the year ended December 31, in millions)
  2013   2012   2011  

Changes in net unrealized investment gains

                   

Fixed maturities

  $ (2,804 ) $ 326   $ 1,588  

Equity securities

    74     38     (2 )

Other investments

    (1 )   (2 )   (14 )
               

Change in net pretax unrealized gains on investment securities

    (2,731 )   362     1,572  

Related tax expense (benefit)

    (950 )   130     560  
               

Change in net unrealized gains on investment securities

    (1,781 )   232     1,012  

Balance, beginning of year

    3,103     2,871     1,859  
               

Balance, end of year

  $ 1,322   $ 3,103   $ 2,871  
               
               

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