TRAVELERS COMPANIES, INC. | 2013 | FY | 3


 

(at December 31, in millions)
  2013   2012  

Deferred tax assets

             

Claims and claim adjustment expense reserves

  $ 825   $ 888  

Unearned premium reserves

    693     689  

Other

    621     741  
           

Total gross deferred tax assets

    2,139     2,318  
           

Deferred tax liabilities

             

Deferred acquisition costs

    554     590  

Investments

    931     1,800  

Internally developed software

    138     134  

Other

    213     132  
           

Total gross deferred tax liabilities

    1,836     2,656  
           

Total deferred tax asset (liability)

  $ 303   $ (338 )
           
           

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