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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-150 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Equity Securities Equity securities, which include public common and non-redeemable preferred stocks, are reported at fair value with changes in fair value recognized in net income. Prior to January 1, 2018, equity securities were classified as available for sale and changes in their fair value were charged or credited directly to other comprehensive income. Real Estate Investments The Company's real estate investments include warehouses, office buildings and other commercial land and properties that are directly owned. Real estate is recorded on the purchase date at the purchase price, which generally represents fair value, and is supported by internal analysis or external appraisals that use discounted cash flow analyses and other acceptable valuation techniques. Real estate held for investment purposes is subsequently carried at cost less accumulated depreciation. Buildings are depreciated on a straight-line basis over the shorter of the expected useful life of the building or 39 years. Real estate held for sale is carried at lower of cost or fair value, less estimated costs to sell. Short-term Securities Short-term securities have an original maturity of less than one year and are carried at amortized cost, which approximates fair value. Other Investments Investments in Private Equity Limited Partnerships, Hedge Funds and Real Estate Partnerships The Company uses the equity method of accounting for investments in private equity limited partnerships, hedge funds and real estate partnerships. The partnerships and the hedge funds generally report investments on their balance sheet at fair value. The financial statements prepared by the investee are received by the Company on a lag basis, with the lag period generally dependent upon the type of underlying investments. The private equity and real estate partnerships provide financial information quarterly which is generally available to investors, including the Company, within three months following the date of the reporting period. The hedge funds provide financial information monthly, which is generally available to investors within one month following the date of the reporting period. The Company regularly requests financial information from the partnerships prior to the receipt of the partnerships' financial statements and records any material information obtained from these requests in its consolidated financial statements. Other Also included in other investments are non-public common equities, preferred equities and derivatives. Non-public common equities and preferred equities are reported at fair value with chananges in fair value recognized in net income. Prior to Januarary 1, 2018, non-public common equities and preferred equities were reported at fair value with changes in fair value, net of taxes, charged or credited directly to other comprehensive income. The Company's derivative financial instruments are carried at fair value, with the changes in fair value reflected in the consolidated statement of income in net realized investment gains (losses). For a further discussion of the derivatives used by the Company, see note 3. Net Investment Income Investment income from fixed maturities is recognized based on the constant effective yield method which includes an adjustment for estimated principal pre-payments, if any. The effective yield used to determine amortization for fixed maturities subject to prepayment risk (e.g., asset-backed, loan-backed and structured securities) is recalculated and adjusted periodically based upon actual historical and/or projected future cash flows, which are obtained from a widely-accepted securities data provider. The adjustments to the yield for highly rated prepayable fixed maturities are accounted for using the retrospective method. The adjustments to the yield for non-highly rated prepayable fixed maturities are accounted for using the prospective method. Dividends on equity securities (including those with transfer restrictions) are recognized in income when declared. Rental income on real estate is recognized on a straight-line basis over the lease term. See the section titled: Real Estate in note 3 for further discussion. Investments in private equity limited partnerships, hedge funds, real estate partnerships and joint ventures are accounted for using 131 | [
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"text": "estate is recognized on a straight-line basis over the lease term. See the section titled: Real Estate in note 3 for further discussion. "
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"text": "The Company uses the equity method of accounting for investments in private equity limited partnerships, hedge funds and real estate partnerships. The partnerships and the hedge funds generally report investments on their balance sheet at fair value. The financial statements prepared by the investee are received by the Company on a lag basis, with the lag period generally dependent upon the type of underlying investments. The private equity and real estate partnerships provide financial information quarterly which is generally available to investors, including the Company, within three months following the date of the reporting period. The hedge funds provide financial information monthly, which is generally available to investors within one month following the date of the reporting period. The Company regularly requests financial information from the partnerships prior to the receipt of the partnerships' financial statements and records any material information obtained from these requests in its consolidated financial statements."
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"text": "Also included in other investments are non-public common equities, preferred equities and derivatives. Non-public common equities and preferred equities are reported at fair value with chananges in fair value recognized in net income. Prior to Januarary 1, 2018, non-public common equities and preferred equities were reported at fair value with changes in fair value, net of taxes, charged or credited directly to other comprehensive income. The Company's derivative financial instruments are carried at fair value, with the changes in fair value reflected in the consolidated statement of income in net realized investment gains (losses). For a further discussion of the derivatives used by the Company, see note 3."
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"text": "Investment income from fixed maturities is recognized based on the constant effective yield method which includes an adjustment for estimated principal pre-payments, if any. The effective yield used to determine amortization for fixed maturities subject to prepayment risk (e.g., asset-backed, loan-backed and structured securities) is recalculated and adjusted periodically based upon actual historical and/or projected future cash flows, which are obtained from a widely-accepted securities data provider. The adjustments to the yield for highly rated prepayable fixed maturities are accounted for using the retrospective method. The adjustments to the yield for non-highly rated prepayable fixed maturities are accounted for using the prospective method. Dividends on equity securities (including those with transfer restrictions) are recognized in income when declared. Rental income on real estate is recognized on a straight-line basis over the lease term. See the section titled: Real Estate in note 3 for further discussion. Investments in private equity limited partnerships, hedge funds, real estate partnerships and joint ventures are accounted for using"
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-151 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) the equity method of accounting, whereby the Company's share of the investee's earnings or losses in the fund is reported in net investment income. Accrual of income is suspended on non-securitized fixed maturities that are in default, or on which it is likely that future payments will not be made as scheduled. Interest income on investments in default is recognized only when payments are received. Investments included in the consolidated balance sheet that were not income-producing for the preceding 12 months were not material. For fixed maturities where the Company records an other-than-temporary impairment, a determination is made as to the cause of the impairment and whether the Company expects a recovery in the value. For fixed maturities where the Company expects a recovery in value, not necessarily to par, the constant effective yield method is utilized, and the investment is amortized to the expected recovery amount. Investment Gains and Losses Net realized investment gains and losses are included as a component of pre-tax revenues based upon specific identification of the investments sold on the trade date. Included in net realized investment gains (losses) are other-than-temporary impairment losses on invested assets other than those investments accounted for using the equity method of accounting as described in the "Investment Impairments" section that follows. Investment Impairments The Company conducts a periodic review to identify and evaluate invested assets having other-than-temporary impairments. Other-Than-Temporary Impairments of Fixed Maturities Some of the factors considered in identifying other-than-temporary impairments of fixed maturities include: (1) the extent to which the fair value has been less than amortized cost; (2) the financial condition, near-term and long-term prospects for the issuer , including the relevant industry conditions and trends, and implications of rating agency actions and offering prices; (3) the likelihood of the recoverability of principal and interest; (4) whether it is more likely than not that the Company will be required to sell the investment prior to an anticipated recovery in value; and (5) the length of time and extent to which the fair value has been less than amortized cost. For fixed maturity investments that the Company does not intend to sell or for which it is more likely than not that the Company would not be required to sell before an anticipated recovery in value, the Company separates the credit loss component of the impairment from the amount related to all other factors and reports the credit loss component in net realized investment gains (losses). The impairment related to all other factors is reported in other comprehensive income. For fixed maturity investments the Company intends to sell or for which it is more likely than not that the Company will be required to sell before an anticipated recovery in value, the full amount of the impairment is included in net realized investment gains (losses). Upon recognizing an other-than-temporary impairment, the new cost basis of the investment is the previous amortized cost basis less the other-than-temporary impairment recognized in net realized investment gains (losses). The new cost basis is not adjusted for any subsequent recoveries in fair value; however, for fixed maturity investments the difference between the new cost basis and the expected cash flows is accreted on a quarterly basis to net investment income over the remaining expected life of the investment. Determination of Credit Loss - Fixed Maturities The Company determines the credit loss component of fixed maturity investments by utilizing discounted cash flow modeling to determine the present value of the security and comparing the present value with the amortized cost of the security. If the amortized cost is greater than the present value of the expected cash flows, the difference is considered a credit loss and recognized in net realized investment gains (losses). 132 | [
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"text": "For fixed maturities where the Company records an other-than-temporary impairment, a determination is made as to the cause of the impairment and whether the Company expects a recovery in the value. For fixed maturities where the Company expects a recovery in value, not necessarily to par, the constant effective yield method is utilized, and the investment is amortized to the expected recovery amount."
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"text": "Net realized investment gains and losses are included as a component of pre-tax revenues based upon specific identification of the investments sold on the trade date. Included in net realized investment gains (losses) are other-than-temporary impairment losses on invested assets other than those investments accounted for using the equity method of accounting as described in the \"Investment Impairments\" section that follows."
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"text": "Some of the factors considered in identifying other-than-temporary impairments of fixed maturities include: (1) the extent to which the fair value has been less than amortized cost; (2) the financial condition, near-term and long-term prospects for the issuer , including the relevant industry conditions and trends, and implications of rating agency actions and offering prices; (3) the likelihood of the recoverability of principal and interest; (4) whether it is more likely than not that the Company will be required to sell the investment prior to an anticipated recovery in value; and (5) the length of time and extent to which the fair value has been less than amortized cost."
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"text": "For fixed maturity investments that the Company does not intend to sell or for which it is more likely than not that the Company would not be required to sell before an anticipated recovery in value, the Company separates the credit loss component of the impairment from the amount related to all other factors and reports the credit loss component in net realized investment gains (losses). The impairment related to all other factors is reported in other comprehensive income."
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"text": "For fixed maturity investments the Company intends to sell or for which it is more likely than not that the Company will be required to sell before an anticipated recovery in value, the full amount of the impairment is included in net realized investment gains (losses)."
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"text": "Determination of Credit Loss - Fixed Maturities"
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"text": "The Company determines the credit loss component of fixed maturity investments by utilizing discounted cash flow modeling to determine the present value of the security and comparing the present value with the amortized cost of the security. If the amortized cost is greater than the present value of the expected cash flows, the difference is considered a credit loss and recognized in net realized investment gains (losses)."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-152 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) For non-structured fixed maturities (U.S. Treasury securities, obligations of U.S. government and government agencies and authorities, obligations of states, municipalities and political subdivisions, debt securities issued by foreign governments and certain corporate debt), the estimate of expected cash flows is determined by projecting a recovery value and a recovery time frame and assessing whether further principal and interest will be received. The determination of recovery value incorporates an issuer valuation assumption utilizing one or a combination of valuation methods as deemed appropriate by the Company. The Company determines the undiscounted recovery value by allocating the estimated value of the issuer to the Company's assessment of the priority of claims. The present value of the cash flows is determined by applying the effective yield of the security at the date of acquisition (or the most recent implied rate used to accrete the security if the implied rate has changed as a result of a previous impairment) and an estimated recovery time frame. Generally, that time frame for securities for which the issuer is in bankruptcy is 12 months. For securities for which the issuer is financially troubled but not in bankruptcy, that time frame is generally 24 months. Included in the present value calculation are expected principal and interest payments; however, for securities for which the issuer is classified as bankrupt or in default, the present value calculation assumes no interest payments and a single recovery amount. In estimating the recovery value, significant judgment is involved in the development of assumptions relating to a myriad of factors related to the issuer including, but not limited to, revenue, margin and earnings projections, the likely market or liquidation values of assets, potential additional debt to be incurred pre- or post-bankruptcy/restructuring, the ability to shift existing or new debt to different priority layers, the amount of restructuring/bankruptcy expenses, the size and priority of unfunded pension obligations, litigation or other contingent claims, the treatment of intercompany claims and the likely outcome with respect to inter-creditor conflicts. For structured fixed maturity securities (primarily residential and commercial mortgage-backed securities and asset-backed securities), the Company estimates the present value of the security by projecting future cash flows of the assets underlying the securitization, allocating the flows to the various tranches based on the structure of the securitization and determining the present value of the cash flows using the effective yield of the security at the date of acquisition (or the most recent implied rate used to accrete the security if the implied rate has changed as a result of a previous impairment or changes in expected cash flows). The Company incorporates levels of delinquencies, defaults and severities as well as credit attributes of the remaining assets in the securitization, along with other economic data, to arrive at its estimate of the parameters applied to the assets underlying the securitization. Real Estate Investments On at least an annual basis, the Company obtains independent appraisals for substantially all of its real estate investments. In addition, the carrying value of all real estate investments is reviewed for impairment on a quarterly basis or when events or changes in circumstances indicate that the carrying amount may not be recoverable. The review for impairment considers the valuation from the independent appraisal, when applicable, and incorporates an estimate of the undiscounted cash flows expected to result from the use and eventual disposition of the real estate property. An impairment loss is recognized if the expected future undiscounted cash flows are less than the carrying value of the real estate property. The impairment loss is the amount by which the carrying amount exceeds fair value. Other Investments The Company reviews its investments in private equity limited partnerships, hedge funds and real estate partnerships for impairment no less frequently than quarterly and monitors the performance throughout the year through discussions with the managers/general partners. If the Company becomes aware of an impairment of a partnership's investments at the balance sheet date prior to receiving the partnership's financial statements, it will recognize an impairment by recording a reduction in the carrying value of the partnership with a corresponding charge to net investment income. Changes in Intent to Sell Temporarily Impaired Assets The Company may, from time to time, sell invested assets subsequent to the balance sheet date that it did not intend to sell at the balance sheet date. Conversely, the Company may not sell invested assets that it asserted that it intended to sell at the balance sheet date. Such changes in intent are due to events occurring subsequent to the balance sheet date. The types of events that may result in a change in intent include, but are not limited to, significant changes in the economic facts and circumstances related to 133 | [
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-153 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) the invested asset (e.g., a downgrade or upgrade from a rating agency), significant unforeseen changes in liquidity needs, or changes in tax laws or the regulatory environment. Securities Lending The Company has, from time to time, engaged in securities lending activities from which it generates net investment income by lending certain of its investments to other institutions for short periods of time. Borrowers of these securities provide collateral equal to at least 102% of the market value of the loaned securities plus accrued interest. This collateral is held by a third-party custodian, and the Company has the right to access the collateral only in the event that the institution borrowing the Company's securities is in default under the lending agreement (i.e., the Company is not permitted to re-pledge or sell any such collateral). Therefore, the Company does not recognize the receipt of the collateral held by the third-party custodian or the obligation to return the collateral. The loaned securities remain a recorded asset of the Company. The Company accepts only cash as collateral for securities on loan and restricts the manner in which that cash is invested. Reinsurance Recoverables Amounts recoverable from reinsurers are estimated in a manner consistent with the associated claim liability. The Company reports its reinsurance recoverables net of an allowance for estimated uncollectible reinsurance recoverables. The allowance is based upon the Company's ongoing review of amounts outstanding, length of collection periods, changes in reinsurer credit standing, disputes, applicable coverage defenses and other relevant factors. Amounts deemed to be uncollectible, including amounts due from known insolvent reinsurers, are written off against the allowance for estimated uncollectible reinsurance recoverables. Any subsequent collections of amounts previously written off are reported as part of claims and claim adjustment expenses. The Company evaluates and monitors the financial condition of its reinsurers under voluntary reinsurance arrangements to minimize its exposure to significant losses from reinsurer insolvencies. Deferred Acquisition Costs Incremental direct costs of acquired, new and renewal insurance contracts, consisting of commissions (other than contingent commissions) and premium-related taxes, are capitalized and charged to expense pro rata over the contract periods in which the related premiums are earned. Deferred acquisition costs are reviewed to determine if they are recoverable from future income and, if not, are charged to expense. Future investment income attributable to related premiums is taken into account in measuring the recoverability of the carrying value of this asset. All other acquisition expenses are charged to operations as incurred. Contractholder Receivables and Payables Under certain workers' compensation insurance contracts with deductible features, the Company is obligated to pay the claimant for the full amount of the claim. The Company is subsequently reimbursed by the policyholder for the deductible amount. These amounts are included on a gross basis in the consolidated balance sheet in contractholder payables and contractholder receivables, respectively. Goodwill and Other Intangible Assets The Company performs a review, on at least an annual basis, of goodwill held by the reporting units which are the Company's three operating and reportable segments: Business Insurance; Bond & Specialty Insurance; and Personal Insurance. The Company estimates the fair value of its reporting units and compares it to their carrying value, including goodwill. If the carrying values of the reporting units were to exceed their fair value, the amount of the impairment would be calculated and goodwill adjusted accordingly. The Company uses a discounted cash flow model to estimate the fair value of its reporting units. The discounted cash flow model is an income approach to valuation that is based on a detailed cash flow analysis for deriving a current fair value of reporting units and is representative of the Company's reporting units' current and expected future financial performance. The discount rate assumptions reflect the Company's assessment of the risks inherent in the projected future cash flows and the Company's weightedaverage cost of capital, and are compared against available market data for reasonableness. 134 | [
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"text": "Amounts recoverable from reinsurers are estimated in a manner consistent with the associated claim liability. The Company reports its reinsurance recoverables net of an allowance for estimated uncollectible reinsurance recoverables. The allowance is based upon the Company's ongoing review of amounts outstanding, length of collection periods, changes in reinsurer credit standing, disputes, applicable coverage defenses and other relevant factors. Amounts deemed to be uncollectible, including amounts due from known insolvent reinsurers, are written off against the allowance for estimated uncollectible reinsurance recoverables. Any subsequent collections of amounts previously written off are reported as part of claims and claim adjustment expenses. The Company evaluates and monitors the financial condition of its reinsurers under voluntary reinsurance arrangements to minimize its exposure to significant losses from reinsurer insolvencies."
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"text": "Incremental direct costs of acquired, new and renewal insurance contracts, consisting of commissions (other than contingent commissions) and premium-related taxes, are capitalized and charged to expense pro rata over the contract periods in which the related premiums are earned. Deferred acquisition costs are reviewed to determine if they are recoverable from future income and, if not, are charged to expense. Future investment income attributable to related premiums is taken into account in measuring the recoverability of the carrying value of this asset. All other acquisition expenses are charged to operations as incurred."
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"text": "Under certain workers' compensation insurance contracts with deductible features, the Company is obligated to pay the claimant for the full amount of the claim. The Company is subsequently reimbursed by the policyholder for the deductible amount. These amounts are included on a gross basis in the consolidated balance sheet in contractholder payables and contractholder receivables, respectively."
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"text": "Goodwill and Other Intangible Assets"
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"text": "The Company performs a review, on at least an annual basis, of goodwill held by the reporting units which are the Company's three operating and reportable segments: Business Insurance; Bond & Specialty Insurance; and Personal Insurance. The Company estimates the fair value of its reporting units and compares it to their carrying value, including goodwill. If the carrying values of the reporting units were to exceed their fair value, the amount of the impairment would be calculated and goodwill adjusted accordingly."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-154 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Other indefinite-lived intangible assets held by the Company are also reviewed for impairment on at least an annual basis. The classification of the asset as indefinite-lived is reassessed and an impairment is recognized if the carrying amount of the asset exceeds its fair value. Intangible assets that are deemed to have a finite useful life are amortized over their useful lives. The carrying amount of intangible assets with a finite useful life is regularly reviewed for indicators of impairment in value. Impairment is recognized only if the carrying amount of the intangible asset is not recoverable from its undiscounted cash flows and is measured as the difference between the carrying amount and the fair value of the asset. As a result of the reviews performed for the years ended December 31, 2019, 2018 and 2017, the Company determined that the estimated fair value substantially exceeded the respective carrying value of its reporting units for those years and that goodwill was not impaired. The Company also determined during its reviews for each year that its other indefinite-lived intangible assets and finite-lived intangible assets were not impaired. Claims and Claim Adjustment Expense Reserves Claims and claim adjustment expense reserves represent management's estimate of the ultimate liability for unpaid losses and loss adjustment expenses for claims that have been reported and claims that have been incurred but not yet reported (IBNR) as of the balance sheet date. The reserves are adjusted regularly based upon experience. Included in the claims and claim adjustment expense reserves in the consolidated balance sheet are reserves for long-term disability and annuity claim payments, primarily arising from workers' compensation insurance and workers' compensation excess insurance policies, that are discounted to the present value of estimated future payments. The Company performs a continuing review of its claims and claim adjustment expense reserves, including its reserving techniques and the impact of reinsurance. The reserves are also reviewed regularly by qualified actuaries employed by the Company. Since the reserves are based on estimates, the ultimate liability may be more or less than such reserves. The effects of changes in such estimated reserves are included in the results of operations in the period in which the estimates are changed. Such changes in estimates could occur in a future period and may be material to the Company's results of operations and financial position in such period. Other Liabilities Included in other liabilities in the consolidated balance sheet is the Company's estimate of its liability for guaranty fund and other insurance-related assessments. The liability for expected state guaranty fund and other premium-based assessments is recognized as the Company writes or becomes obligated to write or renew the premiums on which the assessments are expected to be based. The liability for loss-based assessments is recognized as the related losses are incurred. At December 31, 2019 and 2018, the Company had a liability of $184 million and $217 million, respectively, for guaranty fund and other insurance-related assessments and related recoverables of $13 million and $16 million, respectively. The liability for such assessments and the related recoverables are not discounted for the time value of money. The loss-based assessments are expected to be paid over a period ranging from one year to the life expectancy of certain workers' compensation claimants and the recoveries are expected to occur over the same period of time. Also included in other liabilities is an accrual for policyholder dividends. Certain insurance contracts, primarily workers' compensation, are participating whereby dividends are paid to policyholders in accordance with contract provisions. Net written premiums for participating dividend policies were approximately 1% of total net written premiums for each of the years ended December 31, 2019, 2018 and 2017. Policyholder dividends are accrued against earnings using best available estimates of amounts to be paid. The liability accrued for policyholder dividends totaled $71 million and $72 million at December 31, 2019 and 2018 , respectively. Treasury Stock The cost of common stock repurchased by the Company is reported as treasury stock and represents authorized and unissued shares of the Company under the Minnesota Business Corporation Act. 135 | [
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"text": "classification of the asset as indefinite-lived is reassessed and an impairment is recognized if the carrying amount of the asset "
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"text": "was not impaired. The Company also determined during its reviews for each year that its other indefinite-lived intangible assets "
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"text": "Other indefinite-lived intangible assets held by the Company are also reviewed for impairment on at least an annual basis. The classification of the asset as indefinite-lived is reassessed and an impairment is recognized if the carrying amount of the asset exceeds its fair value."
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"text": "Intangible assets that are deemed to have a finite useful life are amortized over their useful lives. The carrying amount of intangible assets with a finite useful life is regularly reviewed for indicators of impairment in value. Impairment is recognized only if the carrying amount of the intangible asset is not recoverable from its undiscounted cash flows and is measured as the difference between the carrying amount and the fair value of the asset."
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"text": "Claims and claim adjustment expense reserves represent management's estimate of the ultimate liability for unpaid losses and loss adjustment expenses for claims that have been reported and claims that have been incurred but not yet reported (IBNR) as of the balance sheet date. The reserves are adjusted regularly based upon experience. Included in the claims and claim adjustment expense reserves in the consolidated balance sheet are reserves for long-term disability and annuity claim payments, primarily arising from workers' compensation insurance and workers' compensation excess insurance policies, that are discounted to the present value of estimated future payments."
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"text": "Included in other liabilities in the consolidated balance sheet is the Company's estimate of its liability for guaranty fund and other insurance-related assessments. The liability for expected state guaranty fund and other premium-based assessments is recognized as the Company writes or becomes obligated to write or renew the premiums on which the assessments are expected to be based. The liability for loss-based assessments is recognized as the related losses are incurred. At December 31, 2019 and 2018, the Company had a liability of $184 million and $217 million, respectively, for guaranty fund and other insurance-related assessments and related recoverables of $13 million and $16 million, respectively. The liability for such assessments and the related recoverables are not discounted for the time value of money. The loss-based assessments are expected to be paid over a period ranging from one year to the life expectancy of certain workers' compensation claimants and the recoveries are expected to occur over the same period of time."
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"text": "Also included in other liabilities is an accrual for policyholder dividends. Certain insurance contracts, primarily workers' compensation, are participating whereby dividends are paid to policyholders in accordance with contract provisions. Net written premiums for participating dividend policies were approximately 1% of total net written premiums for each of the years ended December 31, 2019, 2018 and 2017. Policyholder dividends are accrued against earnings using best available estimates of amounts to be paid. The liability accrued for policyholder dividends totaled $71 million and $72 million at December 31, 2019 and 2018 , respectively."
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"text": "The cost of common stock repurchased by the Company is reported as treasury stock and represents authorized and unissued shares of the Company under the Minnesota Business Corporation Act."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-155 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Statutory Accounting Practices The Company's U.S. insurance subsidiaries, domiciled principally in the State of Connecticut, are required to prepare statutory financial statements in accordance with the accounting practices prescribed or permitted by the insurance departments of the states of domicile. Prescribed statutory accounting practices are those practices that are incorporated directly or by reference in state laws, regulations, and general administrative rules applicable to all insurance enterprises domiciled in a particular state. The State of Connecticut requires insurers domiciled in Connecticut to prepare their statutory financial statements in accordance with National Association of Insurance Commissioners' (NAIC) statutory accounting practices. Permitted statutory accounting practices are those practices that differ either from state-prescribed statutory accounting practices or NAIC statutory accounting practices. The Company does not apply any statutory accounting practices that would be considered a prescribed or permitted statutory accounting practice that differs from NAIC statutory accounting practices. The Company's non-U.S. insurance subsidiaries file financial statements prepared in accordance with the regulatory reporting requirements of their respective local jurisdiction. Premiums and Unearned Premium Reserves Premiums are recognized as revenues pro rata over the policy period. Unearned premium reserves represent the unexpired portion of policy premiums. Accrued retrospective premiums are included in premium balances receivable. Premium balances receivable are reported net of an allowance for estimated uncollectible premium amounts. Ceded premiums are charged to income over the applicable term of the various reinsurance contracts with third party reinsurers. Prepaid reinsurance premiums represent the unexpired portion of premiums ceded to reinsurers and are reported as part of other assets. Fee Income Fee income includes servicing carrier fees and revenues from large deductible policies and service contracts and is recognized as the Company completes its performance obligations, which is primarily on a pro rata basis over the contract service period or ththe underlying policy periods. Other Revenues Other revenues include revenues from premium installment charges, which are recognized as collected, revenues of noninsurance subsidiaries other than fee income and gains and losses on dispositions of assets and redemption of debt, and other miscellaneous revenues, including gains recognized as a result of settlements of reinsurance disputes and claims-related legal matters. Income Taxes The Company recognizes deferred income tax assets and liabilities for the expected future tax effects attributable to temporary differences between the financial statement and tax return bases of assets and liabilities, based on enacted tax rates and other provisions of the tax law. The effect of a change in tax laws or rates on deferred tax assets and liabilities is recognized in income in the period in which such change is enacted. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that all or some portion of the deferred tax assets will not be realized. Foreign Currency Translation The Company assigns functional currencies to its foreign operations, which are generally the currencies of the local operating environment. Foreign currency amounts are remeasured to the functional currency, and the resulting foreign exchange gains or losses are reflected in earnings. Functional currency amounts are then translated into U.S. dollars. The foreign currency remeasurement and translation are calculated using current exchange rates for items reported in the balance sheets and average 136 | [
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"text": "The Company's U.S. insurance subsidiaries, domiciled principally in the State of Connecticut, are required to prepare statutory financial statements in accordance with the accounting practices prescribed or permitted by the insurance departments of the states of domicile. Prescribed statutory accounting practices are those practices that are incorporated directly or by reference in state laws, regulations, and general administrative rules applicable to all insurance enterprises domiciled in a particular state. The State of Connecticut requires insurers domiciled in Connecticut to prepare their statutory financial statements in accordance with National Association of Insurance Commissioners' (NAIC) statutory accounting practices."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-156 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) exchange rates for items recorded in earnings. The change in unrealized foreign currency translation gain or loss during the year, net of tax, is a component of other comprehensive income. Share-Based Compensation The Company has an employee stock incentive compensation plan that permits grants of nonqualified stock options, incentive stock options, stock appreciation rights, restricted stock, deferred stock, stock units, performance awards and other share-based or share-denominated awards with respect to the Company's common stock. Compensation cost is measured based on the grant-date fair value of an award , utilizing the assumptions discussed in note 13. Compensation cost is recognized for financial reporting purposes over the period in which the employee is required to provide service in exchange for the award (generally the vesting period). In connection with certain share-based awards, participants are entitled to receive dividends during the vesting period, either in cash or dividend equivalent shares, commensurate with the dividends paid to common shareholders. Dividends and dividend equivalent shares on awards that are expected to vest are recorded in retained earnings. Dividends paid on awards that are not expected to vest as part of the Company's forfeiture estimate are recorded as compensation expense. Nature of Operations Business Insurance Business Insurance offers a broad array of property and casualty insurance and insurance-related services to its customers, primarily in the United States, as well as in Canada, the United Kingdom, the Republic of Ireland and throughout other parts of the world as a corporate member of Lloyd's. Business Insurance is organized as follows: Domestic - · Select Accounts provides small businesses with property and casualty insurance products and services, including commercial multi-peril, workers' compensation, commercial automobile, general liability and commercial property. - · Middle Market provides mid-sized businesses with property and casualty insurance products and services, including workers' compensation, general liability, commercial multi-peril, commercial automobile and commercial property, as well as risk management, claims handling and other services. Middle Market generally provides these products to midsized businesses through Commercial Accounts, as well as to targeted industries through Construction , Technology , Public Sector Services and Oil & Gas, and additionally, provides mono-line umbrella and excess coverage insurance through Excess Casualty. Middle Market also provides insurance for goods in transit and movable objects, as well as builders' risk insurance, through Inland Marine; insurance for the marine transportation industry and related services, as well as other businesses involved in international trade, through Ocean Marine; and comprehensive breakdown for equipment, including property and business interruption, through Boiler & Machinery . - · National Accounts provides large companies with casualty insurance products and services, including workers' compensation, commercial automobile and general liability, generally utilizing loss-sensitive products, on both a bundled and unbundled basis, as well as risk management, claims handling and other services. National Accounts also includes the Company's commercial residual market business, which primarily offers workers' compensation claims, policy management and other administrative services related to the involuntary market. - · National Property and Other provides traditional and customized commercial property insurance programs to large and mid-sized customers through National Property. National Property and Other also provides insurance coverage for the commercial transportation industry through Northland Transportation, and serves small- to medium-sized agricultural businesses, including farms, ranches and other agricultural-related operations through Agribusiness. National Property and Other also includes commercial property and general liability policies for small, difficult to place specialty classes of commercial business primarily on an excess and surplus lines basis through Northfield, and also offers tailored property and casualty insurance programs on an admitted basis for customers with common risk characteristics or coverage requirements through National Programs . 137 | [
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"text": "exchange rates for items recorded in earnings. The change in unrealized foreign currency translation gain or loss during the year, net of tax, is a component of other comprehensive income."
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"text": "- · Select Accounts provides small businesses with property and casualty insurance products and services, including commercial multi-peril, workers' compensation, commercial automobile, general liability and commercial property."
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"text": "- · Middle Market provides mid-sized businesses with property and casualty insurance products and services, including workers' compensation, general liability, commercial multi-peril, commercial automobile and commercial property, as well as risk management, claims handling and other services. Middle Market generally provides these products to midsized businesses through Commercial Accounts, as well as to targeted industries through Construction , Technology , Public Sector Services and Oil & Gas, and additionally, provides mono-line umbrella and excess coverage insurance through Excess Casualty. Middle Market also provides insurance for goods in transit and movable objects, as well as builders' risk insurance, through Inland Marine; insurance for the marine transportation industry and related services, as well as other businesses involved in international trade, through Ocean Marine; and comprehensive breakdown for equipment, including property and business interruption, through Boiler & Machinery ."
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"text": "- · National Accounts provides large companies with casualty insurance products and services, including workers' compensation, commercial automobile and general liability, generally utilizing loss-sensitive products, on both a bundled and unbundled basis, as well as risk management, claims handling and other services. National Accounts also includes the Company's commercial residual market business, which primarily offers workers' compensation claims, policy management and other administrative services related to the involuntary market."
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"text": "- · National Property and Other provides traditional and customized commercial property insurance programs to large and mid-sized customers through National Property. National Property and Other also provides insurance coverage for the commercial transportation industry through Northland Transportation, and serves small- to medium-sized agricultural businesses, including farms, ranches and other agricultural-related operations through Agribusiness. National Property and Other also includes commercial property and general liability policies for small, difficult to place specialty classes of commercial business primarily on an excess and surplus lines basis through Northfield, and also offers tailored property and casualty insurance programs on an admitted basis for customers with common risk characteristics or coverage requirements through National Programs ."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-157 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) International - · International, through its operations in Canada, the United Kingdom and the Republic of Ireland, provides property and casualty insurance and risk management services to several customer groups, including, among others, those in the technology, manufacturing and public services industry sectors. International also provides insurance for both the foreign exposures of United States organizations and the United States exposures of foreign organizations through Global Services . At its Lloyd's syndicate (Syndicate 5000), for which the Company provides 100% of the capital, International underwrites six principal businesses - international marine, retail marine, global property, construction & special risks, energy and aviation. Business Insurance also includes Simply Business, a leading provider of small business insurance policies primarily in the United Kingdom that was acquired in August 2017, as well as Business Insurance Other, which primarily comprises the Company's asbestos and environmental liabilities, and the assumed reinsurance and certain other runoff operations. Bond & Specialty Insurance Bond & Specialty Insurance provides surety, fidelity, management liability, professional liability, and other property and casualty coverages and related risk management services to its customers in the United States and certain specialty insurance products in Canada, the United Kingdom, the Republic of Ireland and Brazil (through a joint venture, as described below), utilizing various degrees of financially-based underwriting approaches. The range of coverages includes performance, payment and commercial surety bonds for construction and general commercial enterprises; fidelity insurance for private companies, not-for-profit organizations and financial institutions; management liability coverages including directors' and officers' liability, employment practices liability, fiduciary liability and cyber risk for public corporations, private companies, not-for-profit organizations and financial institutions; professional liability coverage for a variety of professionals including, among others, lawyers and design professionals; and in the United States only, property, workers' compensation, auto and general liability for financial institutions. Bond & Specialty Insurance surety business in Brazil and Colombia is conducted through Junto Holding Brasil S.A. (Junto) and Junto Holding Latam S.A. in Brazil. The Company owns 49.5% of both Junto, a market leader in surety coverages in Brazil, and Junto Holding Latam S.A., which owns a majority interest in JMalucelli Travelers Seguros S.A., a Colombian surety provider. These joint venture investments are accounted for using the equity method and are included in "other investments" on the consolidated balance sheet. Personal Insurance Personal Insurance writes a broad range of property and casualty insurance covering individuals' personal risks, primarily in the United States, as well as in Canada. The primary products of automobile and homeowners insurance are complemented by a broad suite of related coverages. Automobile policies provide coverage for liability to others for both bodily injury and property damage, uninsured motorist protection, and for physical damage to an insured's own vehicle from collision, fire, flood, hail and theft. In addition, many states require policies to provide first-party personal injury protection, frequently referred to as no-fault coverage. Homeowners and Other policies provide protection against losses to dwellings and contents from a variety of perils (excluding flooding) as well as coverage for personal liability. The Company writes homeowners insurance for dwellings, condominiums and tenants, and rental properties. The Company also writes coverage for boats and yachts and valuable personal items such as jewelry, and also writes coverages for umbrella liability, identity fraud, and weddings and special events. 2. SEGMENT INFORMATION The accounting policies used to prepare the segment reporting data for the Company's three reportable business segments are the same as those described in the Summary of Significant Accounting Policies in note 1. Except as described below for certain legal entities, the Company allocates its invested assets and the related net investment income to its reportable business segments. Pre-tax net investment income is allocated based upon an investable funds concept, which takes into account liabilities (net of non-invested assets) and appropriate capital considerations for each segment. For investable 138 | [
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"text": "- · International, through its operations in Canada, the United Kingdom and the Republic of Ireland, provides property and casualty insurance and risk management services to several customer groups, including, among others, those in the technology, manufacturing and public services industry sectors. International also provides insurance for both the foreign exposures of United States organizations and the United States exposures of foreign organizations through Global Services . At its Lloyd's syndicate (Syndicate 5000), for which the Company provides 100% of the capital, International underwrites six principal businesses - international marine, retail marine, global property, construction & special risks, energy and aviation."
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"text": "Business Insurance also includes Simply Business, a leading provider of small business insurance policies primarily in the United Kingdom that was acquired in August 2017, as well as Business Insurance Other, which primarily comprises the Company's asbestos and environmental liabilities, and the assumed reinsurance and certain other runoff operations."
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"text": "Bond & Specialty Insurance provides surety, fidelity, management liability, professional liability, and other property and casualty coverages and related risk management services to its customers in the United States and certain specialty insurance products in Canada, the United Kingdom, the Republic of Ireland and Brazil (through a joint venture, as described below), utilizing various degrees of financially-based underwriting approaches. The range of coverages includes performance, payment and commercial surety bonds for construction and general commercial enterprises; fidelity insurance for private companies, not-for-profit organizations and financial institutions; management liability coverages including directors' and officers' liability, employment practices liability, fiduciary liability and cyber risk for public corporations, private companies, not-for-profit organizations and financial institutions; professional liability coverage for a variety of professionals including, among others, lawyers and design professionals; and in the United States only, property, workers' compensation, auto and general liability for financial institutions."
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0.839708989718145,
0.14122297104630976,
0.891886495981955,
0.15025625302810078
],
"ocr": false,
"ocr_confidence": 1,
"text": "Segments"
},
{
"bbox": [
0.08631296511049624,
0.15647710755813954,
0.11823804450757576,
0.1652622272185885
],
"ocr": false,
"ocr_confidence": 1,
"text": "2019"
},
{
"bbox": [
0.08629663383920586,
0.1742980326176922,
0.4627317691892887,
0.18298292529675386
],
"ocr": false,
"ocr_confidence": 1,
"text": "Premiums............................................................................ "
},
{
"bbox": [
0.48006112968881526,
0.17456117772932817,
0.9130338418363321,
0.18621621144218345
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 15,300 $ 2,565 $ 10,407 $ 28,272"
},
{
"bbox": [
0.08621498390480324,
0.19309646645873707,
0.4627367013231271,
0.20181897382711564
],
"ocr": false,
"ocr_confidence": 1,
"text": "Net investment income....................................................... "
},
{
"bbox": [
0.5396655047381366,
0.19413666638909077,
0.5749382250236742,
0.20501464528322835
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,816 "
},
{
"bbox": [
0.6638222126045612,
0.19413666638909077,
0.6875006678931239,
0.20293432427931202
],
"ocr": false,
"ocr_confidence": 1,
"text": "233 "
},
{
"bbox": [
0.7765153570207282,
0.19413666638909077,
0.9128869053490636,
0.20501464528322835
],
"ocr": false,
"ocr_confidence": 1,
"text": "419 2,468"
},
{
"bbox": [
0.08621498390480324,
0.21189490029978197,
0.46273829399134575,
0.22061740766816054
],
"ocr": false,
"ocr_confidence": 1,
"text": "Fee income ......................................................................... "
},
{
"bbox": [
0.5511617435750736,
0.21293510023013565,
0.574987186727299,
0.22173275812035692
],
"ocr": false,
"ocr_confidence": 1,
"text": "437 "
},
{
"bbox": [
0.6736364910498212,
0.2181610186278666,
0.6861615935560027,
0.21930152439639858
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.7846639613912563,
0.21293510023013565,
0.800357086489899,
0.22155730176033592
],
"ocr": false,
"ocr_confidence": 1,
"text": "22 "
},
{
"bbox": [
0.8891921123671612,
0.21293510023013565,
0.9129358156762942,
0.22172021989058463
],
"ocr": false,
"ocr_confidence": 1,
"text": "459"
},
{
"bbox": [
0.08652525237112334,
0.23069333414082688,
0.4627317691892887,
0.23940330327943313
],
"ocr": false,
"ocr_confidence": 1,
"text": "Other revenues.................................................................... "
},
{
"bbox": [
0.5519129178339384,
0.23173361292797157,
0.5748728742503156,
0.24045604143955912
],
"ocr": false,
"ocr_confidence": 1,
"text": "155 "
},
{
"bbox": [
0.6719871546684291,
0.23173361292797157,
0.6876149803701074,
0.24051873258842055
],
"ocr": false,
"ocr_confidence": 1,
"text": "26 "
},
{
"bbox": [
0.7847946115615794,
0.23173361292797157,
0.8003407487965594,
0.24051873258842055
],
"ocr": false,
"ocr_confidence": 1,
"text": "87 "
},
{
"bbox": [
0.8891757746738216,
0.23173361292797157,
0.9128869053490636,
0.24051873258842055
],
"ocr": false,
"ocr_confidence": 1,
"text": "268"
},
{
"bbox": [
0.09606192489264388,
0.24944169391957363,
0.24912595909452598,
0.2607583531421592
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total segment revenues "
},
{
"bbox": [
0.2543466741388494,
0.2468551911740956,
0.26572541516236586,
0.2538037361716731
],
"ocr": false,
"ocr_confidence": 1,
"text": "(1)"
},
{
"bbox": [
0.2690453063759338,
0.2567980862403101,
0.46273505727851433,
0.2581766606609335
],
"ocr": false,
"ocr_confidence": 1,
"text": "................................................ "
},
{
"bbox": [
0.48006112968881526,
0.24975491309350775,
0.9130175041429924,
0.26140994680636304
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 17,708 $ 2,824 $ 10,935 $ 31,467"
},
{
"bbox": [
0.08628032183406328,
0.26827766359314437,
0.46273505727851433,
0.27955678698320413
],
"ocr": false,
"ocr_confidence": 1,
"text": "Amortization and depreciation ........................................... "
},
{
"bbox": [
0.48006112968881526,
0.26855342579134367,
0.9130175041429924,
0.280208459504199
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 3,037 $ 533 $ 1,787 $ 5,357"
},
{
"bbox": [
0.08629665310535367,
0.28733932140261625,
0.4627367013231271,
0.29835522082424903
],
"ocr": false,
"ocr_confidence": 1,
"text": "Income tax expense ............................................................ "
},
{
"bbox": [
0.551145405881734,
0.2881289144511063,
0.5748238611702967,
0.2969265723413275
],
"ocr": false,
"ocr_confidence": 1,
"text": "223 "
},
{
"bbox": [
0.6645896731803714,
0.2881289144511063,
0.6870923796888152,
0.2968513429626938
],
"ocr": false,
"ocr_confidence": 1,
"text": "151 "
},
{
"bbox": [
0.7772664799031986,
0.2881289144511063,
0.800226436319576,
0.29691403411155526
],
"ocr": false,
"ocr_confidence": 1,
"text": "195 "
},
{
"bbox": [
0.8892573603877315,
0.2881289144511063,
0.9129358156762942,
0.29691403411155526
],
"ocr": false,
"ocr_confidence": 1,
"text": "569"
},
{
"bbox": [
0.08672118909431226,
0.3058871483617975,
0.19497254239991058,
0.3171537335220849
],
"ocr": false,
"ocr_confidence": 1,
"text": "Segment income "
},
{
"bbox": [
0.1999025826502328,
0.3032504926972303,
0.21128129798555215,
0.31019903769480783
],
"ocr": false,
"ocr_confidence": 1,
"text": "(1) "
},
{
"bbox": [
0.215972900390625,
0.3131934666202358,
0.46273500590212013,
0.3145720410408592
],
"ocr": false,
"ocr_confidence": 1,
"text": "............................................................. "
},
{
"bbox": [
0.5396654533617424,
0.3069273482921512,
0.5750035244206386,
0.31780532718628873
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,392 "
},
{
"bbox": [
0.6639854867851694,
0.3069273482921512,
0.6875332919034091,
0.3157124679526001
],
"ocr": false,
"ocr_confidence": 1,
"text": "618 "
},
{
"bbox": [
0.7766295667449232,
0.3069273482921512,
0.9129684910629735,
0.31780532718628873
],
"ocr": false,
"ocr_confidence": 1,
"text": "824 2,834"
},
{
"bbox": [
0.0863128687797572,
0.3244098988614341,
0.11818895436296559,
0.3331950185218831
],
"ocr": false,
"ocr_confidence": 1,
"text": "2018"
},
{
"bbox": [
0.08629653750846683,
0.34223086334938224,
0.46273166643650043,
0.35091571660004844
],
"ocr": false,
"ocr_confidence": 1,
"text": "Premiums............................................................................ "
},
{
"bbox": [
0.4803059382069392,
0.3427947682619711,
0.9127397633562184,
0.353685364242672
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 14,722 $ 2,420 $ 9,917 $ 27,059"
},
{
"bbox": [
0.0862148875740642,
0.36102929719042715,
0.46273659857033883,
0.3697517651304102
],
"ocr": false,
"ocr_confidence": 1,
"text": "Net investment income....................................................... "
},
{
"bbox": [
0.5404328625611584,
0.36221987702125724,
0.5742685851023254,
0.3724838375121124
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,833 "
},
{
"bbox": [
0.6640343971124001,
0.36221987702125724,
0.6869453404487584,
0.3707794268309916
],
"ocr": false,
"ocr_confidence": 1,
"text": "233 "
},
{
"bbox": [
0.7764008904145623,
0.3622574522821786,
0.9129357129235058,
0.3724838375121124
],
"ocr": false,
"ocr_confidence": 1,
"text": "408 2,474"
},
{
"bbox": [
0.08621482335357153,
0.3798277704598676,
0.4627381398621633,
0.3885502383998506
],
"ocr": false,
"ocr_confidence": 1,
"text": "Fee income ......................................................................... "
},
{
"bbox": [
0.5510472769689079,
0.3810558861232235,
0.5749380195180976,
0.3895026707217983
],
"ocr": false,
"ocr_confidence": 1,
"text": "412 "
},
{
"bbox": [
0.6736363369206386,
0.38636961155775595,
0.6860634646431766,
0.38698366938943396
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.7848760431463068,
0.3810558861232235,
0.8000792429503367,
0.38960293713158106
],
"ocr": false,
"ocr_confidence": 1,
"text": "20 "
},
{
"bbox": [
0.8890775430082071,
0.38101831086230215,
0.9129682855573968,
0.3895778606720365
],
"ocr": false,
"ocr_confidence": 1,
"text": "432"
},
{
"bbox": [
0.08652509181989163,
0.39862620430091245,
0.4627315636837121,
0.40733613401112323
],
"ocr": false,
"ocr_confidence": 1,
"text": "Other revenues.................................................................... "
},
{
"bbox": [
0.5526802756569602,
0.3998543593926639,
0.5749380195180976,
0.4083011439912387
],
"ocr": false,
"ocr_confidence": 1,
"text": "112 "
},
{
"bbox": [
0.6721992877998737,
0.3998167841317426,
0.6869452890723643,
0.40837633394147693
],
"ocr": false,
"ocr_confidence": 1,
"text": "23 "
},
{
"bbox": [
0.7849413939196654,
0.3997290559517321,
0.8001935554273201,
0.40842644743217055
],
"ocr": false,
"ocr_confidence": 1,
"text": "66 "
},
{
"bbox": [
0.8893878564288721,
0.3998543593926639,
0.9116455489136153,
0.40840141040102146
],
"ocr": false,
"ocr_confidence": 1,
"text": "201"
},
{
"bbox": [
0.09606176434141217,
0.41737452465126373,
0.24912580496534353,
0.4286911838738493
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total segment revenues "
},
{
"bbox": [
0.2543466741388494,
0.41478786419220365,
0.26572541516236586,
0.42173640918978117
],
"ocr": false,
"ocr_confidence": 1,
"text": "(1)"
},
{
"bbox": [
0.2690453063759338,
0.4247310352571867,
0.46273505727851433,
0.4261095702494146
],
"ocr": false,
"ocr_confidence": 1,
"text": "................................................ "
},
{
"bbox": [
0.4803060409597275,
0.41798862191133723,
0.9128705676557239,
0.4288792178920381
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 17,079 $ 2,676 $ 10,411 $ 30,166"
},
{
"bbox": [
0.08628032183406328,
0.436210612610021,
0.46273505727851433,
0.44748965714328975
],
"ocr": false,
"ocr_confidence": 1,
"text": "Amortization and depreciation ........................................... "
},
{
"bbox": [
0.4803060409597275,
0.43678709518077763,
0.9125602542350589,
0.44767769116147854
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 2,943 $ 515 $ 1,719 $ 5,177"
},
{
"bbox": [
0.08629665310535367,
0.4552722704194929,
0.4627367013231271,
0.46628813041273015
],
"ocr": false,
"ocr_confidence": 1,
"text": "Income tax expense ............................................................ "
},
{
"bbox": [
0.5513576931423612,
0.45608682164234093,
0.5747095486933134,
0.4649722471409682
],
"ocr": false,
"ocr_confidence": 1,
"text": "259 "
},
{
"bbox": [
0.6653571851325758,
0.4562622780023619,
0.6870760419954756,
0.4649722471409682
],
"ocr": false,
"ocr_confidence": 1,
"text": "198 "
},
{
"bbox": [
0.7845659352312184,
0.45624973977258965,
0.8002917357165404,
0.46469652437116443
],
"ocr": false,
"ocr_confidence": 1,
"text": "42 "
},
{
"bbox": [
0.8890777485137836,
0.4562622780023619,
0.9127398661090067,
0.4649722471409682
],
"ocr": false,
"ocr_confidence": 1,
"text": "499"
},
{
"bbox": [
0.08672118909431226,
0.4738200579502786,
0.19497254239991058,
0.48508656425377505
],
"ocr": false,
"ocr_confidence": 1,
"text": "Segment income "
},
{
"bbox": [
0.1999025826502328,
0.47118320514373385,
0.21128129798555215,
0.4781317501413114
],
"ocr": false,
"ocr_confidence": 1,
"text": "(1) "
},
{
"bbox": [
0.215972900390625,
0.4811263762087169,
0.46273500590212013,
0.48250491120094474
],
"ocr": false,
"ocr_confidence": 1,
"text": "............................................................. "
},
{
"bbox": [
0.5404329653139468,
0.4749228701727027,
0.5743992866490425,
0.4852745588435683
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,638 "
},
{
"bbox": [
0.663871174308186,
0.4750105983527132,
0.6869454432015467,
0.4837706809820131
],
"ocr": false,
"ocr_confidence": 1,
"text": "793 "
},
{
"bbox": [
0.7767112038352273,
0.47504817361363455,
0.9124295526883418,
0.4852745588435683
],
"ocr": false,
"ocr_confidence": 1,
"text": "297 2,728"
},
{
"bbox": [
0.0863128687797572,
0.4923427690215197,
0.11831960453328862,
0.5011279281103642
],
"ocr": false,
"ocr_confidence": 1,
"text": "2017"
},
{
"bbox": [
0.08629653750846683,
0.5101637335094679,
0.46273166643650043,
0.518848586760134
],
"ocr": false,
"ocr_confidence": 1,
"text": "Premiums............................................................................ "
},
{
"bbox": [
0.4803059382069392,
0.5107276384220567,
0.9122988511416246,
0.5216182344027576
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 14,146 $ 2,307 $ 9,230 $ 25,683"
},
{
"bbox": [
0.0862148875740642,
0.5289621673505127,
0.46273659857033883,
0.5376846352904958
],
"ocr": false,
"ocr_confidence": 1,
"text": "Net investment income....................................................... "
},
{
"bbox": [
0.5404328625611584,
0.5300650190013324,
0.5748400961108481,
0.540416707672198
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,786 "
},
{
"bbox": [
0.6640343971124001,
0.5301903224422642,
0.6870759906190814,
0.5387624104817709
],
"ocr": false,
"ocr_confidence": 1,
"text": "228 "
},
{
"bbox": [
0.7769234910958543,
0.5301527471813429,
0.9125601514822707,
0.540416707672198
],
"ocr": false,
"ocr_confidence": 1,
"text": "383 2,397"
},
{
"bbox": [
0.08621482335357153,
0.5477606406199532,
0.4627381398621633,
0.5564831085599362
],
"ocr": false,
"ocr_confidence": 1,
"text": "Fee income ......................................................................... "
},
{
"bbox": [
0.5510472769689079,
0.5489511810223877,
0.5747257322574706,
0.5575358072916666
],
"ocr": false,
"ocr_confidence": 1,
"text": "430 "
},
{
"bbox": [
0.6736363369206386,
0.5543024817178416,
0.6860634646431766,
0.5549165395495196
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.7861987797900883,
0.549026370972626,
0.7998832933830492,
0.5575358072916666
],
"ocr": false,
"ocr_confidence": 1,
"text": "17 "
},
{
"bbox": [
0.8890775430082071,
0.549026370972626,
0.9125600487294824,
0.5575358072916666
],
"ocr": false,
"ocr_confidence": 1,
"text": "447"
},
{
"bbox": [
0.08652509181989163,
0.5665590744609981,
0.4627315636837121,
0.5752690041712089
],
"ocr": false,
"ocr_confidence": 1,
"text": "Other revenues.................................................................... "
},
{
"bbox": [
0.5595878318504051,
0.5676619261118176,
0.5747093945641308,
0.5765097369211281
],
"ocr": false,
"ocr_confidence": 1,
"text": "69 "
},
{
"bbox": [
0.6721992877998737,
0.5677872295527495,
0.6875821508542456,
0.5762340141513242
],
"ocr": false,
"ocr_confidence": 1,
"text": "24 "
},
{
"bbox": [
0.7849413939196654,
0.5676619261118176,
0.8000792429503367,
0.5763593175922561
],
"ocr": false,
"ocr_confidence": 1,
"text": "60 "
},
{
"bbox": [
0.8907105930726537,
0.5676243114225008,
0.9122987483888363,
0.5763593175922561
],
"ocr": false,
"ocr_confidence": 1,
"text": "153"
},
{
"bbox": [
0.09606176434141217,
0.5853073948113493,
0.24912580496534353,
0.5966240540339349
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total segment revenues "
},
{
"bbox": [
0.2543466741388494,
0.5827208132090803,
0.26572541516236586,
0.5896693582066578
],
"ocr": false,
"ocr_confidence": 1,
"text": "(1)"
},
{
"bbox": [
0.2690453063759338,
0.5926638659888768,
0.46273505727851433,
0.5940424009811046
],
"ocr": false,
"ocr_confidence": 1,
"text": "................................................ "
},
{
"bbox": [
0.4803060409597275,
0.5859214526430273,
0.9127562038023463,
0.5968120486237282
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 16,431 $ 2,559 $ 9,690 $ 28,680"
},
{
"bbox": [
0.08628032183406328,
0.6041434433417111,
0.46273505727851433,
0.6154224878749798
],
"ocr": false,
"ocr_confidence": 1,
"text": "Amortization and depreciation ........................................... "
},
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"text": "$ 2,852 $ 493 $ 1,627 $ 4,972"
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"text": "(1) "
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"text": "............................................................. "
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"text": "_________________________________________"
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"text": "(1) Segment revenues for reportable business segments exclude net realized investment gains. Segment income for reportable business "
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"text": "segments equals net income excluding the after-tax impact of net realized investment gains and, in 2017, the impact of the Tax Cuts "
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"text": "and Jobs Act of 2017 at enactment."
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "2. SEGMENT INFORMATION (Continued)"
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"html_seq": "<table><tr><td>(for the year ended December 31, in millions)</td><th>Business Insurance</th><th>Bond & Specialty Insurance</th><th>Personal Insurance</th><th>Total Reportable Segments</th></tr><tr><td>2019</td><td></td><td></td><td></td><td></td></tr><tr><td>Premiums............................................................................</td><td>$ 15,300 $ 2,565 $ 10,407 $ 28,272</td><td></td><td></td><td></td></tr><tr><td>Net investment income.......................................................</td><td>1,816</td><td>233</td><td></td><td>419 2,468</td></tr><tr><td>Fee income .........................................................................</td><td>437</td><td>-</td><td>22</td><td>459</td></tr><tr><td>Other revenues....................................................................</td><td>155</td><td>26</td><td>87</td><td>268</td></tr><tr><td>Total segment revenues (1) ................................................</td><td>$ 17,708 $ 2,824 $ 10,935 $ 31,467</td><td></td><td></td><td></td></tr><tr><td>Amortization and depreciation ...........................................</td><td></td><td></td><td>$ 3,037 $ 533 $ 1,787 $ 5,357</td><td></td></tr><tr><td>Income tax expense ............................................................</td><td>223</td><td>151</td><td>195</td><td>569</td></tr><tr><td>Segment income (1) .............................................................</td><td>1,392</td><td>618</td><td></td><td>824 2,834</td></tr><tr><td>2018</td><td></td><td></td><td></td><td></td></tr><tr><td>Premiums............................................................................</td><td></td><td></td><td></td><td>$ 14,722 $ 2,420 $ 9,917 $ 27,059</td></tr><tr><td>Net investment income.......................................................</td><td>1,833</td><td>233</td><td></td><td>408 2,474</td></tr><tr><td>Fee income .........................................................................</td><td>412</td><td>-</td><td>20</td><td>432</td></tr><tr><td>Other revenues....................................................................</td><td>112</td><td>23</td><td>66</td><td>201</td></tr><tr><td>Total segment revenues (1) ................................................</td><td>$ 17,079 $ 2,676 $ 10,411 $ 30,166</td><td></td><td></td><td></td></tr><tr><td>Amortization and depreciation ...........................................</td><td>$ 2,943 $ 515 $ 1,719 $ 5,177</td><td></td><td></td><td></td></tr><tr><td>Income tax expense ............................................................</td><td>259</td><td>198</td><td>42</td><td>499</td></tr><tr><td>Segment income (1) .............................................................</td><td>1,638</td><td>793</td><td></td><td>297 2,728</td></tr><tr><td>2017</td><td></td><td></td><td></td><td></td></tr><tr><td>Premiums............................................................................</td><td></td><td>$ 14,146 $ 2,307 $ 9,230 $ 25,683</td><td></td><td></td></tr><tr><td>Net investment income.......................................................</td><td>1,786</td><td>228</td><td></td><td>383 2,397</td></tr><tr><td>Fee income .........................................................................</td><td>430</td><td>-</td><td>17</td><td>447</td></tr><tr><td>Other revenues....................................................................</td><td>69</td><td>24</td><td>60</td><td>153</td></tr><tr><td>Total segment revenues (1) ................................................</td><td></td><td></td><td></td><td>$ 16,431 $ 2,559 $ 9,690 $ 28,680</td></tr><tr><td>Amortization and depreciation ...........................................</td><td></td><td></td><td>$ 2,852 $ 493 $ 1,627 $ 4,972</td><td></td></tr><tr><td>Income tax expense (benefit) .............................................</td><td>448</td><td>208</td><td>(44)</td><td>612</td></tr><tr><td>Segment income (1) .............................................................</td><td>1,613</td><td>556</td><td></td><td>128 2,297</td></tr></table>",
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"text": "(1) Segment revenues for reportable business segments exclude net realized investment gains. Segment income for reportable business segments equals net income excluding the after-tax impact of net realized investment gains and, in 2017, the impact of the Tax Cuts and Jobs Act of 2017 at enactment."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-160 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 2. SEGMENT INFORMATION (Continued) Net written premiums by market were as follows: 141 | [
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"text": "Net written premiums by market were as follows:"
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"text": "(for the year ended December 31, in millions) "
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"text": "2018 "
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"text": "Business Insurance:"
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"text": "Domestic:"
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"text": "Select Accounts....................................................................................... "
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"text": "$ 2,911 "
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"text": "$ 2,828 $ 2,800"
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"text": "Middle Market ........................................................................................ "
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"text": "8,630 "
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"text": "8,214 7,756"
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"text": "National Accounts................................................................................... "
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"text": "1,051 "
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"text": "1,025 1,010"
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"text": "National Property and Other................................................................... "
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"text": "1,965 "
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"text": "1,805 1,691"
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"text": "Total Domestic................................................................................... "
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"text": "14,557 "
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"text": "13,872 13,257"
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"text": "International................................................................................................. "
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"text": "1,072 "
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"text": "1,084 1,013"
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"text": "Total Business Insurance.................................................................... "
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"text": "15,629 "
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"text": "14,956 14,270"
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"text": "Bond & Specialty Insurance:"
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"text": "Domestic:"
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"text": "Management Liability............................................................................. "
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"text": "1,605 "
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"text": "1,455 1,367"
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"text": "Surety...................................................................................................... "
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"text": "866 "
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"text": "835 "
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"text": "793"
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"text": "Total Domestic................................................................................... "
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"text": "2,471 "
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"text": "2,290 2,160"
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"text": "International................................................................................................. "
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"text": "268 "
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"text": "238 "
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0.43100981010023015
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"text": "199"
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"text": "Total Bond & Specialty Insurance..................................................... "
},
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"bbox": [
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"text": "2,739 "
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"text": "2,528 2,359"
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"text": "Personal Insurance:"
},
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"text": "Domestic:"
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"text": "Agency:"
},
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"text": "Automobile ........................................................................................ "
},
{
"bbox": [
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0.6876152886284722,
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"text": "5,124 "
},
{
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0.5265059360238009
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"text": "4,972 4,646"
},
{
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0.5754121722597064,
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"text": "Homeowners and Other ..................................................................... "
},
{
"bbox": [
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0.6876152886284722,
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"ocr_confidence": 1,
"text": "4,540 "
},
{
"bbox": [
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0.9122993649055661,
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"text": "4,148 3,933"
},
{
"bbox": [
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0.575415460348932,
0.5639273473458697
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"ocr_confidence": 1,
"text": "Total Agency ...................................................................................... "
},
{
"bbox": [
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0.6876152886284722,
0.5645665210654878
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"ocr": false,
"ocr_confidence": 1,
"text": "9,664 "
},
{
"bbox": [
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0.5537135397741036,
0.9127402771201599,
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"ocr": false,
"ocr_confidence": 1,
"text": "9,120 8,579"
},
{
"bbox": [
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0.5754121722597064,
0.5801943204815689
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"ocr": false,
"ocr_confidence": 1,
"text": "Direct-to-Consumer ................................................................................ "
},
{
"bbox": [
0.6638389613090541,
0.572486897155604,
0.6876807421546192,
0.5811091381141997
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"ocr": false,
"ocr_confidence": 1,
"text": "412 "
},
{
"bbox": [
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0.8001941719440498,
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"ocr_confidence": 1,
"text": "396 "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "361"
},
{
"bbox": [
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"ocr_confidence": 1,
"text": "Total Domestic................................................................................... "
},
{
"bbox": [
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0.5912853704250444,
0.6876154427576546,
0.602163428175973
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"ocr": false,
"ocr_confidence": 1,
"text": "10,076 "
},
{
"bbox": [
0.7644642531269729,
0.5913104074561935,
0.9127567175662878,
0.601699710816376
],
"ocr": false,
"ocr_confidence": 1,
"text": "9,516 8,940"
},
{
"bbox": [
0.09609508835506761,
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0.5754155631017204,
0.6177661117041142
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"ocr_confidence": 1,
"text": "International................................................................................................. "
},
{
"bbox": [
0.6638227263685027,
0.6100838042660893,
0.6876645072140678,
0.6188689633549338
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"ocr": false,
"ocr_confidence": 1,
"text": "707 "
},
{
"bbox": [
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0.6102843370856549,
0.7997534138586385,
0.6188438868953892
],
"ocr": false,
"ocr_confidence": 1,
"text": "708 "
},
{
"bbox": [
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0.9127567175662878,
0.6188438868953892
],
"ocr": false,
"ocr_confidence": 1,
"text": "650"
},
{
"bbox": [
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0.5754188511909459,
0.6365645849735546
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"ocr_confidence": 1,
"text": "Total Personal Insurance .................................................................... "
},
{
"bbox": [
0.6441778317846433,
0.6288822775355297,
0.6875012330334596,
0.6397603352864584
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"ocr": false,
"ocr_confidence": 1,
"text": "10,783 "
},
{
"bbox": [
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0.6289073145666788,
0.9127568203190761,
0.6392966179268613
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"ocr": false,
"ocr_confidence": 1,
"text": "10,224 9,590"
},
{
"bbox": [
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0.6579070571781129
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"text": "Total consolidated net written premiums................................................ "
},
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"text": "$ 29,151 "
},
{
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"text": "$ 27,708 $ 26,219"
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] | [
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"label": "section_header",
"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "2. SEGMENT INFORMATION (Continued)"
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"text": "Net written premiums by market were as follows:"
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"html_seq": "<table><tr><td>(for the year ended December 31, in millions)</td><th>2019</th><th>2018 2017</th></tr><tr><td>Business Insurance:</td><td></td><td></td></tr><tr><td>Domestic:</td><td></td><td></td></tr><tr><td>Select Accounts.......................................................................................</td><td>$ 2,911</td><td>$ 2,828 $ 2,800</td></tr><tr><td>Middle Market ........................................................................................</td><td>8,630</td><td>8,214 7,756</td></tr><tr><td>National Accounts...................................................................................</td><td>1,051</td><td>1,025 1,010</td></tr><tr><td>National Property and Other...................................................................</td><td>1,965</td><td>1,805 1,691</td></tr><tr><td>Total Domestic...................................................................................</td><td>14,557</td><td>13,872 13,257</td></tr><tr><td>International.................................................................................................</td><td>1,072</td><td>1,084 1,013</td></tr><tr><td>Total Business Insurance....................................................................</td><td>15,629</td><td>14,956 14,270</td></tr><tr><td>Bond & Specialty Insurance:</td><td></td><td></td></tr><tr><td>Domestic:</td><td></td><td></td></tr><tr><td>Management Liability.............................................................................</td><td>1,605</td><td>1,455 1,367</td></tr><tr><td>Surety......................................................................................................</td><td>866</td><td>835 793</td></tr><tr><td>Total Domestic...................................................................................</td><td>2,471</td><td>2,290 2,160</td></tr><tr><td>International.................................................................................................</td><td>268</td><td>238 199</td></tr><tr><td>Total Bond & Specialty Insurance.....................................................</td><td>2,739</td><td>2,528 2,359</td></tr><tr><td>Personal Insurance:</td><td></td><td></td></tr><tr><td>Domestic:</td><td></td><td></td></tr><tr><td>Agency:</td><td></td><td></td></tr><tr><td>Automobile ........................................................................................</td><td>5,124</td><td>4,972 4,646</td></tr><tr><td>Homeowners and Other .....................................................................</td><td>4,540</td><td>4,148 3,933</td></tr><tr><td>Total Agency ......................................................................................</td><td>9,664</td><td>9,120 8,579</td></tr><tr><td>Direct-to-Consumer ................................................................................</td><td>412</td><td>396 361</td></tr><tr><td>Total Domestic...................................................................................</td><td>10,076</td><td>9,516 8,940</td></tr><tr><td>International.................................................................................................</td><td>707</td><td>708 650</td></tr><tr><td>Total Personal Insurance ....................................................................</td><td>10,783</td><td>10,224 9,590</td></tr><tr><td>Total consolidated net written premiums................................................</td><td>$ 29,151</td><td>$ 27,708 $ 26,219</td></tr></table>",
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"filename": "NYSE_TRV_2019.pdf",
"page": 160
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-161 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 2. SEGMENT INFORMATION (Continued) Business Segment Reconciliations ________________________________________ (1) The primary component of Interest Expense and Other was after-tax interest expense of $272 million, $278 million and $240 million in 2019, 2018 and 2017, respectively. 142 | [
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"text": "SEGMENT INFORMATION (Continued)"
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"text": "142"
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"text": "Business Segment Reconciliations"
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"text": "(for the year ended December 31, in millions) "
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"text": "2019 "
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"text": "2018 "
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"text": "2017"
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"text": "Revenue reconciliation"
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"text": "Earned premiums"
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"text": "Business Insurance:"
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"text": "Domestic:"
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"text": "Workers’ compensation.................................................................................. "
},
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"text": "$ 3,829 "
},
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"bbox": [
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"text": "$ 3,899 $ 3,962"
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"text": "Commercial automobile................................................................................. "
},
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"ocr_confidence": 1,
"text": "2,632 "
},
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"text": "2,388 "
},
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"text": "2,132"
},
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"text": "Commercial property ..................................................................................... "
},
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"ocr_confidence": 1,
"text": "1,937 "
},
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"text": "1,828 "
},
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"ocr_confidence": 1,
"text": "1,775"
},
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"text": "General liability ............................................................................................. "
},
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"bbox": [
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"ocr_confidence": 1,
"text": "2,342 "
},
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"text": "2,181 "
},
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"text": "2,047"
},
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"bbox": [
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"text": "Commercial multi-peril.................................................................................. "
},
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"text": "3,453 "
},
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"text": "3,333 "
},
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"ocr": false,
"ocr_confidence": 1,
"text": "3,198"
},
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"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Other .............................................................................................................. "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "40 "
},
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"bbox": [
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"ocr_confidence": 1,
"text": "28 "
},
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"text": "29"
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0.3205236784863534,
0.5755414352673874,
0.32841897811692505
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total Domestic ............................................................................................ "
},
{
"bbox": [
0.6492085569234006,
0.32032070110626615,
0.6881996437355324,
0.3301109294250646
],
"ocr": false,
"ocr_confidence": 1,
"text": "14,233 "
},
{
"bbox": [
0.7625809486466225,
0.3205124019652374,
0.9130588107638888,
0.32986276710372253
],
"ocr": false,
"ocr_confidence": 1,
"text": "13,657 13,143"
},
{
"bbox": [
0.11573794072725957,
0.3355586719759367,
0.5755399453519571,
0.3434540110349039
],
"ocr": false,
"ocr_confidence": 1,
"text": "International ........................................................................................................ "
},
{
"bbox": [
0.6565570253314394,
0.33535569459584946,
0.6883465802228009,
0.3451459229146479
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,067 "
},
{
"bbox": [
0.7699294170546612,
0.33554739545482076,
0.8004403162484217,
0.34489772116491035
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,065 "
},
{
"bbox": [
0.8826111045349326,
0.3356601606659803,
0.9130632291337858,
0.34489772116491035
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,003"
},
{
"bbox": [
0.14511717208708175,
0.35184567473655526,
0.5755561289161143,
0.3597410137955224
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total Business Insurance............................................................................. "
},
{
"bbox": [
0.6492231991957333,
0.35164265792807253,
0.6883171415489531,
0.361432886246871
],
"ocr": false,
"ocr_confidence": 1,
"text": "15,300 "
},
{
"bbox": [
0.7625956422953494,
0.3518682277787871,
0.9135878848708439,
0.3611847239255289
],
"ocr": false,
"ocr_confidence": 1,
"text": "14,722 14,146"
},
{
"bbox": [
0.09617626947987361,
0.36813267749717377,
0.26488281661011154,
0.37832893943293766
],
"ocr": false,
"ocr_confidence": 1,
"text": "Bond & Specialty Insurance:"
},
{
"bbox": [
0.1157526215318879,
0.3844647469138606,
0.1746727786080203,
0.392314979888364
],
"ocr": false,
"ocr_confidence": 1,
"text": "Domestic:"
},
{
"bbox": [
0.13527020541104404,
0.40070660416161985,
0.5755473435527146,
0.41090286609738375
],
"ocr": false,
"ocr_confidence": 1,
"text": "Fidelity and surety.......................................................................................... "
},
{
"bbox": [
0.6565717189801662,
0.4005035873531371,
0.6883171929253472,
0.41029381567193557
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,036 "
},
{
"bbox": [
0.7699441107033881,
0.40086451488563873,
0.8006313850582649,
0.4100456533505935
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,017 "
},
{
"bbox": [
0.8924580069904777,
0.40085319893612725,
0.9133130211621423,
0.4086921553895147
],
"ocr": false,
"ocr_confidence": 1,
"text": "977"
},
{
"bbox": [
0.13547595502551557,
0.41699360692223836,
0.5755620372014415,
0.42718986885800225
],
"ocr": false,
"ocr_confidence": 1,
"text": "General liability ............................................................................................. "
},
{
"bbox": [
0.6565864126288931,
0.41679055068536014,
0.6883906611689815,
0.4265807790041586
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,082 "
},
{
"bbox": [
0.769958804352115,
0.41715151764625724,
0.8009841353804977,
0.42633265611121207
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,004 "
},
{
"bbox": [
0.8924727006392046,
0.4170161599644703,
0.9136951587818287,
0.42497915815013326
],
"ocr": false,
"ocr_confidence": 1,
"text": "962"
},
{
"bbox": [
0.1355788362548006,
0.4333256763389252,
0.5755767308501684,
0.44116463279231266
],
"ocr": false,
"ocr_confidence": 1,
"text": "Other .............................................................................................................. "
},
{
"bbox": [
0.6669330532703336,
0.4330775534459787,
0.6883465288464068,
0.44098416902606186
],
"ocr": false,
"ocr_confidence": 1,
"text": "216 "
},
{
"bbox": [
0.7809962006128999,
0.43326929373334544,
0.8004843971946023,
0.4412661214823563
],
"ocr": false,
"ocr_confidence": 1,
"text": "195 "
},
{
"bbox": [
0.8936778880931713,
0.4334272044573643,
0.9133424084595959,
0.4411308032289648
],
"ocr": false,
"ocr_confidence": 1,
"text": "187"
},
{
"bbox": [
0.14516130440965647,
0.44956753358668444,
0.575600261238689,
0.45746287264565166
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total Domestic ............................................................................................ "
},
{
"bbox": [
0.6559250956833965,
0.4493645167782017,
0.6883613252479219,
0.45915474509700016
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,334 "
},
{
"bbox": [
0.768797800597117,
0.44959008662891636,
0.800954748083044,
0.4589065827756581
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,216 "
},
{
"bbox": [
0.8814793853246001,
0.44959008662891636,
0.9136363841869213,
0.4589065827756581
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,126"
},
{
"bbox": [
0.11581143465909091,
0.46585453634730295,
0.5756134649719855,
0.47374987540627017
],
"ocr": false,
"ocr_confidence": 1,
"text": "International ........................................................................................................ "
},
{
"bbox": [
0.6669624919441814,
0.46809907661851985,
0.6879056680082071,
0.476016968719719
],
"ocr": false,
"ocr_confidence": 1,
"text": "231 "
},
{
"bbox": [
0.7798351968579019,
0.4682456713930273,
0.8010282163266782,
0.4759380330719073
],
"ocr": false,
"ocr_confidence": 1,
"text": "204 "
},
{
"bbox": [
0.8937073781434133,
0.46825698734253873,
0.9125488486755576,
0.4759605861141392
],
"ocr": false,
"ocr_confidence": 1,
"text": "181"
},
{
"bbox": [
0.14519074308350433,
0.48465675531431684,
0.575629751288931,
0.49485301725008074
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total Bond & Specialty Insurance .............................................................. "
},
{
"bbox": [
0.6559544829808501,
0.4844536990774386,
0.6883318865740741,
0.49424392739623707
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,565 "
},
{
"bbox": [
0.7688272392709649,
0.4847920735677083,
0.8008813312158038,
0.49399580450329056
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,420 "
},
{
"bbox": [
0.8815088753748421,
0.48475824400436046,
0.9133865921585648,
0.49399580450329056
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,307"
},
{
"bbox": [
0.09623512756142151,
0.5009437186465399,
0.21023952599727747,
0.5088390577055071
],
"ocr": false,
"ocr_confidence": 1,
"text": "Personal Insurance:"
},
{
"bbox": [
0.11582617968421191,
0.5172757880632267,
0.1714542016437158,
0.5251260210377301
],
"ocr": false,
"ocr_confidence": 1,
"text": "Domestic"
},
{
"bbox": [
0.135402551002374,
0.5322656754683462,
0.5756237916272096,
0.5401610145273135
],
"ocr": false,
"ocr_confidence": 1,
"text": "Automobile .................................................................................................... "
},
{
"bbox": [
0.6560279512244844,
0.5332582458969235,
0.6879204130333281,
0.5430484742157219
],
"ocr": false,
"ocr_confidence": 1,
"text": "5,311 "
},
{
"bbox": [
0.7688566265684186,
0.5332582458969235,
0.8007049560546875,
0.542608571607013
],
"ocr": false,
"ocr_confidence": 1,
"text": "5,097 "
},
{
"bbox": [
0.8812295932962437,
0.5332582458969235,
0.9132102683738426,
0.542608571607013
],
"ocr": false,
"ocr_confidence": 1,
"text": "4,655"
},
{
"bbox": [
0.1354319382998277,
0.5498497541560683,
0.5756355568214699,
0.5577112636516877
],
"ocr": false,
"ocr_confidence": 1,
"text": "Homeowners and Other ................................................................................. "
},
{
"bbox": [
0.6559838702783038,
0.5496129077842378,
0.6883024992766203,
0.5594031361030362
],
"ocr": false,
"ocr_confidence": 1,
"text": "4,393 "
},
{
"bbox": [
0.7685627022174873,
0.5498046480716045,
0.800543274542298,
0.5591549737816941
],
"ocr": false,
"ocr_confidence": 1,
"text": "4,135 "
},
{
"bbox": [
0.8817145864570181,
0.549917413282764,
0.9131661874276621,
0.5591549737816941
],
"ocr": false,
"ocr_confidence": 1,
"text": "3,943"
},
{
"bbox": [
0.14522011753685948,
0.5661028879249435,
0.5756590358335963,
0.5739982269839107
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total Domestic ............................................................................................ "
},
{
"bbox": [
0.656086777195786,
0.5658999105448562,
0.6884200998428294,
0.5756901388636547
],
"ocr": false,
"ocr_confidence": 1,
"text": "9,704 "
},
{
"bbox": [
0.7688566265684186,
0.5662043766149871,
0.8011017873231008,
0.5754419371139171
],
"ocr": false,
"ocr_confidence": 1,
"text": "9,232 "
},
{
"bbox": [
0.8818763193458018,
0.5660916114038275,
0.9132984302662037,
0.5754419371139171
],
"ocr": false,
"ocr_confidence": 1,
"text": "8,598"
},
{
"bbox": [
0.11587026063039246,
0.582389890685562,
0.5756722909432871,
0.5902852297445292
],
"ocr": false,
"ocr_confidence": 1,
"text": "International ........................................................................................................ "
},
{
"bbox": [
0.6670213179154829,
0.5833824611141392,
0.6883319379504682,
0.5913003532153384
],
"ocr": false,
"ocr_confidence": 1,
"text": "703 "
},
{
"bbox": [
0.7799527974241109,
0.5833824611141392,
0.8005726618397517,
0.5912439706097585
],
"ocr": false,
"ocr_confidence": 1,
"text": "685 "
},
{
"bbox": [
0.8926344335279882,
0.5834162906774871,
0.913798117075705,
0.5912439706097585
],
"ocr": false,
"ocr_confidence": 1,
"text": "632"
},
{
"bbox": [
0.1452495433666088,
0.5999401003815407,
0.5756885258838383,
0.6078354394405079
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total Personal Insurance ............................................................................. "
},
{
"bbox": [
0.6493555961634575,
0.599737083573058,
0.6884936194628577,
0.6095273118918564
],
"ocr": false,
"ocr_confidence": 1,
"text": "10,407 "
},
{
"bbox": [
0.7688860652422664,
0.6000866951560482,
0.8007637820259891,
0.6092791495705143
],
"ocr": false,
"ocr_confidence": 1,
"text": "9,917 "
},
{
"bbox": [
0.8815676499697496,
0.6000415890715843,
0.9136216905381944,
0.6092791495705143
],
"ocr": false,
"ocr_confidence": 1,
"text": "9,230"
},
{
"bbox": [
0.14526423701533564,
0.6162271031421592,
0.5757002397017046,
0.6264120885568072
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total earned premiums ................................................................................ "
},
{
"bbox": [
0.6486795341928399,
0.6160240863336766,
0.6885230067603114,
0.625814314652475
],
"ocr": false,
"ocr_confidence": 1,
"text": "28,272 "
},
{
"bbox": [
0.7615522391065604,
0.6162158266210432,
0.9132205436526726,
0.6255661523311329
],
"ocr": false,
"ocr_confidence": 1,
"text": "27,059 25,683"
},
{
"bbox": [
0.08643226751976142,
0.6313072027162064,
0.5757016782407407,
0.6391574356907098
],
"ocr": false,
"ocr_confidence": 1,
"text": "Net investment income................................................................................................ "
},
{
"bbox": [
0.6560280026008786,
0.6322546670603197,
0.6883907125453756,
0.6420448953791182
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,468 "
},
{
"bbox": [
0.7689007588909933,
0.6324012618348271,
0.8011165323482218,
0.6416049927704094
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,474 "
},
{
"bbox": [
0.8815823436184764,
0.6323674322714793,
0.9134600604021991,
0.6416049927704094
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,397"
},
{
"bbox": [
0.086446954746439,
0.6488574124121851,
0.5757163718894676,
0.6567076453866885
],
"ocr": false,
"ocr_confidence": 1,
"text": "Fee income .................................................................................................................. "
},
{
"bbox": [
0.6670800925103904,
0.648609328947634,
0.6884494871402831,
0.6565159445277172
],
"ocr": false,
"ocr_confidence": 1,
"text": "459 "
},
{
"bbox": [
0.7796589244495739,
0.6489137950177648,
0.8011605619180082,
0.6566173937893653
],
"ocr": false,
"ocr_confidence": 1,
"text": "432 "
},
{
"bbox": [
0.8923404578006628,
0.6489814935728561,
0.9134747540509259,
0.6566399862599928
],
"ocr": false,
"ocr_confidence": 1,
"text": "447"
},
{
"bbox": [
0.08674094331786288,
0.6651444151728036,
0.5756943827927715,
0.672983371626191
],
"ocr": false,
"ocr_confidence": 1,
"text": "Other revenues............................................................................................................. "
},
{
"bbox": [
0.6670801438867845,
0.664896292279857,
0.6884201512192235,
0.6728029078599402
],
"ocr": false,
"ocr_confidence": 1,
"text": "268 "
},
{
"bbox": [
0.7799529001768992,
0.6652346273417312,
0.7999848645142834,
0.6729269693064135
],
"ocr": false,
"ocr_confidence": 1,
"text": "201 "
},
{
"bbox": [
0.8938250300860164,
0.6650880325672238,
0.9132543493200231,
0.6729495223486455
],
"ocr": false,
"ocr_confidence": 1,
"text": "153"
},
{
"bbox": [
0.1453084207143045,
0.6813862527063651,
0.5757444234006734,
0.6915712578352108
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total segment revenues ............................................................................... "
},
{
"bbox": [
0.648694330594355,
0.6811832358978823,
0.6885524968105534,
0.6909734642166808
],
"ocr": false,
"ocr_confidence": 1,
"text": "31,467 "
},
{
"bbox": [
0.7617874916153725,
0.6814088254627947,
0.9136762522687816,
0.6907253216095365
],
"ocr": false,
"ocr_confidence": 1,
"text": "30,166 28,680"
},
{
"bbox": [
0.08675568834298387,
0.6977183418372497,
0.5757091278178925,
0.7055572982906371
],
"ocr": false,
"ocr_confidence": 1,
"text": "Other revenues............................................................................................................. "
},
{
"bbox": [
0.6824826327237216,
0.6974702386585009,
0.6880381163523254,
0.7052302397498789
],
"ocr": false,
"ocr_confidence": 1,
"text": "1 "
},
{
"bbox": [
0.7943911054720381,
0.697792881218962,
0.9135099982573127,
0.7056205414370357
],
"ocr": false,
"ocr_confidence": 1,
"text": "2 6"
},
{
"bbox": [
0.08620728386773004,
0.7140617666318435,
0.5754722312644676,
0.7242467717606892
],
"ocr": false,
"ocr_confidence": 1,
"text": "Net realized investment gains ..................................................................................... "
},
{
"bbox": [
0.667516483602299,
0.7138587498233608,
0.6881363480179398,
0.7217766616387576
],
"ocr": false,
"ocr_confidence": 1,
"text": "113 "
},
{
"bbox": [
0.7808888753255209,
0.7142309538769783,
0.8008914523654513,
0.7217992146809896
],
"ocr": false,
"ocr_confidence": 1,
"text": "114 "
},
{
"bbox": [
0.8923801203769466,
0.7140843393882732,
0.9135143138744213,
0.7219119996063469
],
"ocr": false,
"ocr_confidence": 1,
"text": "216"
},
{
"bbox": [
0.14259954895636048,
0.7290967601214269,
0.5754840478351221,
0.7369921188945918
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total revenues.............................................................................................. "
},
{
"bbox": [
0.5927089087489478,
0.7281944412901729,
0.687777740786774,
0.7386839716317426
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 31,581 "
},
{
"bbox": [
0.7056110009601221,
0.7286343241846839,
0.9136054555976431,
0.7384358290245983
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 30,282 $ 28,902"
},
{
"bbox": [
0.08629550998058383,
0.745158173317133,
0.2876057737202757,
0.7549822311992793
],
"ocr": false,
"ocr_confidence": 1,
"text": "Income reconciliation, net of tax"
},
{
"bbox": [
0.08626611626108086,
0.7616819830211866,
0.5754928845749159,
0.7718669881500323
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total segment income.................................................................................................. "
},
{
"bbox": [
0.5927090115017362,
0.7632272212696322,
0.6882481430516099,
0.7737167516112019
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 2,834 "
},
{
"bbox": [
0.7056111550893045,
0.7634753638767765,
0.9132396556712963,
0.7732768687166909
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 2,728 $ 2,297"
},
{
"bbox": [
0.0862956191554214,
0.7805180512657461,
0.24568428013862584,
0.7906692071170461
],
"ocr": false,
"ocr_confidence": 1,
"text": "Interest Expense and Other "
},
{
"bbox": [
0.24975794011896307,
0.7770466570398297,
0.2611366811424795,
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"text": "Core income................................................................................................. "
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"text": "2,537 "
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"text": "Net realized investment gains ..................................................................................... "
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"text": "Impact of Tax Cuts and Jobs Act of 2017 at enactment .............................................. "
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"text": "— "
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"text": "Net income................................................................................................... "
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"text": "$ 2,622 "
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"text": "$ 2,523 $ 2,056"
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"text": "________________________________________"
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"text": "(1) The primary component of Interest Expense and Other was after-tax interest expense of $272 million, $278 million and $240 million in "
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"text": "2019, 2018 and 2017, respectively."
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "2. SEGMENT INFORMATION (Continued)"
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"text": "Business Segment Reconciliations"
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"html_seq": "<table><tr><td>(for the year ended December 31, in millions)</td><th>2019</th><th>2018</th><th>2017</th></tr><tr><td>Revenue reconciliation</td><td></td><td></td><td></td></tr><tr><td>Earned premiums</td><td></td><td></td><td></td></tr><tr><td>Business Insurance:</td><td></td><td></td><td></td></tr><tr><td>Domestic:</td><td></td><td></td><td></td></tr><tr><td>Workers' compensation..................................................................................</td><td>$ 3,829</td><td></td><td>$ 3,899 $ 3,962</td></tr><tr><td>Commercial automobile.................................................................................</td><td>2,632</td><td>2,388</td><td>2,132</td></tr><tr><td>Commercial property .....................................................................................</td><td>1,937</td><td>1,828</td><td>1,775</td></tr><tr><td>General liability .............................................................................................</td><td>2,342</td><td>2,181</td><td>2,047</td></tr><tr><td>Commercial multi-peril..................................................................................</td><td>3,453</td><td>3,333</td><td>3,198</td></tr><tr><td>Other ..............................................................................................................</td><td>40</td><td>28</td><td>29</td></tr><tr><td>Total Domestic ............................................................................................</td><td>14,233</td><td>13,657 13,143</td><td></td></tr><tr><td>International ........................................................................................................</td><td>1,067</td><td>1,065</td><td>1,003</td></tr><tr><td>Total Business Insurance.............................................................................</td><td>15,300</td><td></td><td>14,722 14,146</td></tr><tr><td>Bond & Specialty Insurance:</td><td></td><td></td><td></td></tr><tr><td>Domestic:</td><td></td><td></td><td></td></tr><tr><td>Fidelity and surety..........................................................................................</td><td>1,036</td><td>1,017</td><td>977</td></tr><tr><td>General liability .............................................................................................</td><td>1,082</td><td>1,004</td><td>962</td></tr><tr><td>Other ..............................................................................................................</td><td>216</td><td>195</td><td>187</td></tr><tr><td>Total Domestic ............................................................................................</td><td>2,334</td><td>2,216</td><td>2,126</td></tr><tr><td>International ........................................................................................................</td><td>231</td><td>204</td><td>181</td></tr><tr><td>Total Bond & Specialty Insurance ..............................................................</td><td>2,565</td><td>2,420</td><td>2,307</td></tr><tr><td>Personal Insurance:</td><td></td><td></td><td></td></tr><tr><td>Domestic</td><td></td><td></td><td></td></tr><tr><td>Automobile ....................................................................................................</td><td>5,311</td><td>5,097</td><td>4,655</td></tr><tr><td>Homeowners and Other .................................................................................</td><td>4,393</td><td>4,135</td><td>3,943</td></tr><tr><td>Total Domestic ............................................................................................</td><td>9,704</td><td>9,232</td><td>8,598</td></tr><tr><td>International ........................................................................................................</td><td>703</td><td>685</td><td>632</td></tr><tr><td>Total Personal Insurance .............................................................................</td><td>10,407</td><td>9,917</td><td>9,230</td></tr><tr><td>Total earned premiums ................................................................................</td><td>28,272</td><td></td><td>27,059 25,683</td></tr><tr><td>Net investment income................................................................................................</td><td>2,468</td><td>2,474</td><td>2,397</td></tr><tr><td>Fee income ..................................................................................................................</td><td>459</td><td>432</td><td>447</td></tr><tr><td>Other revenues.............................................................................................................</td><td>268</td><td>201</td><td>153</td></tr><tr><td>Total segment revenues ...............................................................................</td><td>31,467</td><td>30,166 28,680</td><td></td></tr><tr><td>Other revenues.............................................................................................................</td><td>1</td><td></td><td>2 6</td></tr><tr><td>Net realized investment gains .....................................................................................</td><td>113</td><td>114</td><td>216</td></tr><tr><td>Total revenues..............................................................................................</td><td>$ 31,581</td><td>$ 30,282 $ 28,902</td><td></td></tr><tr><td>Income reconciliation, net of tax</td><td></td><td></td><td></td></tr><tr><td>Total segment income..................................................................................................</td><td>$ 2,834</td><td>$ 2,728 $ 2,297</td><td></td></tr><tr><td>Interest Expense and Other (1) ............................................................................</td><td>(297)</td><td>(298)</td><td>(254)</td></tr><tr><td>Core income.................................................................................................</td><td>2,537</td><td>2,430</td><td>2,043</td></tr><tr><td>Net realized investment gains .....................................................................................</td><td>85</td><td>93</td><td>142</td></tr><tr><td>Impact of Tax Cuts and Jobs Act of 2017 at enactment ..............................................</td><td>-</td><td>-</td><td>(129)</td></tr><tr><td>Net income...................................................................................................</td><td>$ 2,622</td><td>$ 2,523 $ 2,056</td><td></td></tr></table>",
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"text": "(1) The primary component of Interest Expense and Other was after-tax interest expense of $272 million, $278 million and $240 million in 2019, 2018 and 2017, respectively."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-162 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 2. SEGMENT INFORMATION (Continued) ___________________________________________ (1) The primary components of other assets at both December 31, 2019 and 2018, were accrued over-funded benefit plan assets related to the Company's qualified domestic pension plan and other intangible assets. Enterprise-Wide Disclosures The Company does not have revenue from transactions with a single customer amounting to 10 percent or more of its revenues. The following table presents revenues of the Company's operations based on location: 143 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "SEGMENT INFORMATION (Continued)"
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"text": "(at December 31, in millions) "
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"text": "2019 "
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"text": "2018"
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"text": "Asset reconciliation:"
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"text": "Business Insurance............................................................................................................."
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"text": "..... "
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"text": "$ 83,896 "
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"text": "$ 78,965"
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"text": "Bond & Specialty Insurance ................................................................................................... "
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"text": "8,599 "
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"text": "8,693"
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"text": "Personal Insurance ............................................................................................................."
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"text": "..... "
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"text": "17,015 "
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"text": "15,943"
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"text": "Total assets for reportable segments................................................................................... "
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"text": "109,510 "
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"text": "Other assets (1) "
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"text": "......................................................................................................................... "
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"text": "612 "
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"text": "632"
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"text": "Total consolidated assets ............................................................................................... "
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"text": "$ 110,122 "
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"text": "$ 104,233"
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"text": "___________________________________________"
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"text": "(1) The primary components of other assets at both December 31, 2019 and 2018, were accrued over-funded benefit plan assets related to the "
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"text": "Company's qualified domestic pension plan and other intangible assets. "
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"text": "Enterprise-Wide Disclosures"
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"text": "The Company does not have revenue from transactions with a single customer amounting to 10 percent or more of its revenues."
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"text": "The following table presents revenues of the Company’s operations based on location:"
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"text": "(for the year ended December 31, in millions) "
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"text": "2019 "
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"text": "2018 "
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"text": "2017"
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"text": "U.S. ................................................................................................................ "
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"text": "$ 29,638 "
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"text": "$ 28,418 $ 27,253"
},
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"text": "Non-U.S.:"
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"text": "Canada ......................................................................................................... "
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"bbox": [
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"text": "1,371 "
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"text": "1,293 1,232"
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"text": "Other Non-U.S............................................................................................. "
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"text": "572 "
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"text": "571 "
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"text": "417"
},
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"text": "Total Non-U.S......................................................................................... "
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"text": "1,943 "
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"text": "1,864 1,649"
},
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"text": "Total revenues......................................................................................... "
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"text": "$ 31,581 "
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"text": "$ 30,282 $ 28,902"
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "2. SEGMENT INFORMATION (Continued)"
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"text": "___________________________________________"
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"text": "(1) The primary components of other assets at both December 31, 2019 and 2018, were accrued over-funded benefit plan assets related to the Company's qualified domestic pension plan and other intangible assets."
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"text": "Enterprise-Wide Disclosures"
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"text": "The Company does not have revenue from transactions with a single customer amounting to 10 percent or more of its revenues."
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"text": "The following table presents revenues of the Company's operations based on location:"
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"html_seq": "<table><tr><td>(for the year ended December 31, in millions)</td><th>2019</th><th>2018 2017</th></tr><tr><td>U.S. ................................................................................................................</td><td>$ 29,638</td><td>$ 28,418 $ 27,253</td></tr><tr><td>Non-U.S.:</td><td></td><td></td></tr><tr><td>Canada .........................................................................................................</td><td>1,371</td><td>1,293 1,232</td></tr><tr><td>Other Non-U.S.............................................................................................</td><td>572</td><td>571 417</td></tr><tr><td>Total Non-U.S.........................................................................................</td><td>1,943</td><td>1,864 1,649</td></tr><tr><td>Total revenues.........................................................................................</td><td>$ 31,581</td><td>$ 30,282 $ 28,902</td></tr></table>",
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"text": "143"
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"filename": "NYSE_TRV_2019.pdf",
"page": 162
} |
e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-163 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 3. INVESTMENTS Fixed Maturities The amortized cost and fair value of investments in fixed maturities classified as available for sale were as follows: 144 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "144"
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"text": "3. "
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"text": "INVESTMENTS"
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"text": "Fixed Maturities"
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"text": "The amortized cost and fair value of investments in fixed maturities classified as available for sale were as follows:"
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"text": "Amortized "
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"text": "Gross Unrealized "
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"text": "Fair"
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"text": "(at December 31, 2019, in millions) "
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"text": "Cost "
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"text": "Gains "
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"text": "Losses "
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"text": "Value"
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"text": "U.S. Treasury securities and obligations of U.S."
},
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"bbox": [
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"ocr": false,
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"text": "government and government agencies and authorities... "
},
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"text": "$ 2,076 $ 19 $ — $ 2,095"
},
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"text": "Obligations of states, municipalities and political"
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"text": "subdivisions:"
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"text": "Local general obligation .................................................. "
},
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"text": "15,490 "
},
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"text": "829 "
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"text": "4 16,315"
},
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"text": "Revenue............................................................................ "
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"text": "9,731 "
},
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"bbox": [
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"text": "586 "
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"text": "2 10,315"
},
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"text": "State general obligation.................................................... "
},
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"text": "1,167 "
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"text": "64 "
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"text": "— 1,231"
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"text": "Pre-refunded..................................................................... "
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"text": "1,968 "
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"text": "88 "
},
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"text": "— 2,056"
},
{
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"ocr": false,
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"text": "Total obligations of states, municipalities and"
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"text": "political subdivisions............................................... "
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"text": "28,356 1,567 "
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"bbox": [
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"text": "6 29,917"
},
{
"bbox": [
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"text": "Debt securities issued by foreign governments.................. "
},
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"text": "1,167 "
},
{
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"text": "8 "
},
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"text": "2 1,173"
},
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"text": "Mortgage-backed securities, collateralized mortgage"
},
{
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"ocr": false,
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"text": "obligations and pass-through securities.......................... "
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"text": "91 "
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"text": "3 3,280"
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"text": "All other corporate bonds................................................... "
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"text": "30,442 1,195 "
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"text": "18 31,619"
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"text": "Redeemable preferred stock ............................................... "
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"text": "48 "
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"text": "2 "
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"text": "— "
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"text": "50"
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"text": "Total............................................................................. "
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"text": "$ 65,281 $ 2,882 $ 29 $ 68,134"
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"text": "Amortized "
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"text": "Gross Unrealized "
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"text": "Fair"
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"text": "(at December 31, 2018, in millions) "
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"text": "Cost "
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"text": "Gains "
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"text": "Losses "
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"text": "Value"
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"text": "U.S. Treasury securities and obligations of U.S."
},
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"text": "government and government agencies and authorities... "
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"text": "$ 2,076 $ 4 $ 16 $ 2,064"
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"text": "Obligations of states, municipalities and political"
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"text": "subdivisions:"
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"text": "Local general obligation .................................................. "
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"text": "14,473 "
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"text": "219 "
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"text": "120 14,572"
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"text": "Revenue............................................................................ "
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"text": "9,755 "
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"text": "172 "
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"text": "74 9,853"
},
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"text": "State general obligation.................................................... "
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"text": "1,329 "
},
{
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"text": "18 "
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"text": "13 1,334"
},
{
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"text": "Pre-refunded..................................................................... "
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"text": "2,772 "
},
{
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"text": "80 "
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"text": "— 2,852"
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{
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"ocr": false,
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"text": "Total obligations of states, municipalities and"
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{
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"text": "political subdivisions............................................... "
},
{
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0.5747095486933134,
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"text": "28,329 "
},
{
"bbox": [
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"ocr": false,
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"text": "489 "
},
{
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"ocr": false,
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"text": "207 28,611"
},
{
"bbox": [
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"text": "Debt securities issued by foreign governments.................. "
},
{
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"ocr": false,
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"text": "1,255 "
},
{
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"text": "7 "
},
{
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"text": "5 1,257"
},
{
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"text": "Mortgage-backed securities, collateralized mortgage"
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"text": "obligations and pass-through securities.......................... "
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"text": "2,557 "
},
{
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"text": "54 "
},
{
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"text": "38 2,573"
},
{
"bbox": [
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"text": "All other corporate bonds................................................... "
},
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"text": "29,307 "
},
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"text": "156 "
},
{
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"text": "583 28,880"
},
{
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"text": "Redeemable preferred stock ............................................... "
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"text": "77 "
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"text": "2 "
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"text": "— "
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"text": "79"
},
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"text": "Total............................................................................. "
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"text": "$ 63,601 $ 712 $ 849 $ 63,464"
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"label": "section_header",
"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"label": "section_header",
"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"label": "section_header",
"text": "3. INVESTMENTS"
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"text": "Fixed Maturities"
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"label": "text",
"text": "The amortized cost and fair value of investments in fixed maturities classified as available for sale were as follows:"
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"html_seq": "<table><tr><td></td><th>Amortized</th><th colspan=\"2\">Gross Unrealized</th><th>Fair</th><td></td></tr><tr><td>(at December 31, 2019, in millions)</td><th>Cost Losses</th><th>Gains</th><th>Value</th><td></td></tr><tr><td>U.S. Treasury securities and obligations of U.S. government and government agencies and authorities...</td><td></td><td></td><td>$ 2,076 $ 19 $ - $ 2,095</td><td></td></tr><tr><td>Obligations of states, municipalities and political subdivisions:</td><td></td><td></td><td></td><td></td></tr><tr><td>Local general obligation ..................................................</td><td>15,490</td><td>829</td><td>4 16,315</td><td></td></tr><tr><td>Revenue............................................................................</td><td>9,731</td><td>586</td><td>2 10,315</td><td></td></tr><tr><td>State general obligation....................................................</td><td>1,167</td><td>64</td><td>- 1,231</td><td></td></tr><tr><td>Pre-refunded.....................................................................</td><td>1,968</td><td>88</td><td>- 2,056</td><td></td></tr><tr><td>Total obligations of states, municipalities and political subdivisions...............................................</td><td>28,356 1,567</td><td></td><td>6 29,917</td><td></td></tr><tr><td>Debt securities issued by foreign governments..................</td><td>1,167</td><td>8</td><td>2 1,173</td><td></td></tr><tr><td>Mortgage-backed securities, collateralized mortgage obligations and pass-through securities..........................</td><td>3,192</td><td>91</td><td>3 3,280</td><td></td></tr><tr><td>All other corporate bonds...................................................</td><td>30,442 1,195</td><td></td><td>18 31,619</td><td></td></tr><tr><td>Redeemable preferred stock ...............................................</td><td>48 -</td><td>2</td><td>50</td><td></td></tr><tr><td>Total.............................................................................</td><td>$ 65,281 $ 2,882 $ 29 $ 68,134</td><td></td><td></td><td></td></tr></table>",
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"html_seq": "<table><tr><td></td><th>Amortized</th><th colspan=\"2\">Gross Unrealized</th><th>Fair</th><td></td></tr><tr><td>(at December 31, 2018, in millions)</td><th>Cost Losses</th><th>Gains</th><th>Value</th><td></td></tr><tr><td>U.S. Treasury securities and obligations of U.S. government and government agencies and authorities...</td><td></td><td></td><td>$ 2,076 $ 4 $ 16 $ 2,064</td><td></td></tr><tr><td>Obligations of states, municipalities and political subdivisions:</td><td></td><td></td><td></td><td></td></tr><tr><td>Local general obligation ..................................................</td><td>14,473</td><td>219</td><td>120 14,572</td><td></td></tr><tr><td>Revenue............................................................................</td><td>9,755</td><td>172</td><td>74 9,853</td><td></td></tr><tr><td>State general obligation....................................................</td><td>1,329</td><td>18</td><td>13 1,334</td><td></td></tr><tr><td>Pre-refunded.....................................................................</td><td>2,772</td><td>80</td><td>- 2,852</td><td></td></tr><tr><td>Total obligations of states, municipalities and political subdivisions...............................................</td><td>28,329</td><td>489</td><td>207 28,611</td><td></td></tr><tr><td>Debt securities issued by foreign governments..................</td><td>1,255</td><td>7</td><td>5 1,257</td><td></td></tr><tr><td>Mortgage-backed securities, collateralized mortgage obligations and pass-through securities..........................</td><td>2,557</td><td>54</td><td>38 2,573</td><td></td></tr><tr><td>All other corporate bonds...................................................</td><td>29,307</td><td>156</td><td>583 28,880</td><td></td></tr><tr><td>Redeemable preferred stock ...............................................</td><td>77 -</td><td>2</td><td>79</td><td></td></tr><tr><td>Total.............................................................................</td><td>$ 63,601 $ 712 $ 849 $ 63,464</td><td></td><td></td><td></td></tr></table>",
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"filename": "NYSE_TRV_2019.pdf",
"page": 163
} |
e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-164 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 3. INVESTMENTS (Continued) The amortized cost and fair value of fixed maturities by contractual maturity follow. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Pre-refunded bonds of $2.06 billion and $2.85 billion at December 31, 2019 and 2018, respectively, were bonds for which states or municipalities have established irrevocable trusts, almost exclusively comprised of U.S. Treasury securities and obligations of U.S. government and government agencies and authorities. These trusts were created to fund the payment of principal and interest due under the bonds. The Company's fixed maturity investment portfolio at December 31, 2019 and 2018 included $3.28 billion and $2.57 billion, respectively, of residential mortgage-backed securities, which include pass-through securities and collateralized mortgage obligations (CMOs). Included in the totals at December 31, 2019 and 2018 were $1.52 billion and $859 million, respectively, of GNMA, FNMA, FHLMC (excluding FHA project loans) and Canadian government guaranteed residential mortgage-backed passthrough securities classified as available for sale. Also included in those totals were residential CMOs classified as available for sale with a fair value of $1.76 billion and $1.71 billion at December 31, 2019 and 2018, respectively. Approximately 54% and 52% of the Company's CMO holdings at December 31, 2019 and 2018, respectively, were guaranteed by or fully collateralized by securities issued by GNMA, FNMA or FHLMC. The weighted average credit rating of the $816 million and $828 million of non-guaranteed CMO holdings at December 31, 2019 and 2018, respectively, was "Aaa/Aa1" and "Aa1," respectively. The weighted average credit rating of all of the above securities was Aaa/Aa1" at both December 31, 2019 and 2018. At December 31, 2019 and 2018, the Company held commercial mortgage-backed securities (CMBS, including FHA project loans) of $1.51 billion and $1.22 billion, respectively, which are included in "All other corporate bonds" in the tables above. At December 31, 2019 and 2018, approximately $559 million and $458 million of these securities, respectively, or the loans backing such securities, contained guarantees by the U.S. government or a government-sponsored enterprise. The weighted average credit rating of the $950 million and $759 million of non-guaranteed securities at December 31, 2019 and 2018, respectively, was "Aaa" at both dates. The CMBS portfolio is supported by loans that are diversified across economic sectors and geographical areas. The weighted average credit rating of the CMBS portfolio was "Aaa" at both December 31, 2019 and 2018. At December 31, 2019 and 2018, the Company had $404 million and $367 million, respectively, of securities on loan as part of a tri-party lending agreement. Proceeds from sales of fixed maturities classified as available for sale were $2.19 billion, $3.55 billion and $1.85 billion in 2019, 2018 and 2017, respectively. Gross gains of $67 million, $51 million and $42 million and gross losses of $8 million, $18 million and $38 million were realized on those sales in 2019, 2018 and 2017, respectively. At December 31, 2019 and 2018, the Company's insurance subsidiaries had $4.34 billion and $4.23 billion, respectively, of securities on deposit at financial institutions in certain states pursuant to the respective states' insurance regulatory requirements. Funds deposited with third parties to be used as collateral to secure various liabilities on behalf of insureds, cedants and other creditors had a fair value of $54 million and $37 million at December 31, 2019 and 2018, respectively. Other investments pledged as collateral securing outstanding letters of credit had a fair value of $1 million at both December 31, 2019 and 2018. In addition, the Company utilizes Lloyd's trust deposits, whereby owned securities with a fair value of approximately $173 million and $115 million held by a wholly-owned subsidiary at December 31, 2019 and 2018, respectively, and $34 million and $33 million held by TRV at December 31, 2019 and 2018, respectively, were pledged into Lloyd's trust accounts to provide a portion of the capital needed to support the Company's obligations at Lloyd's. 145 | [
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"text": "INVESTMENTS (Continued)"
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"text": "The amortized cost and fair value of fixed maturities by contractual maturity follow. Actual maturities will differ from contractual "
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"text": "maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties."
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"text": "(at December 31, 2019, in millions)"
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"text": "Amortized"
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"text": "Value"
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"text": "Due in one year or less ........................................................................................................"
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"text": "$ 3,738 $ 3,760"
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"text": "Due after 1 year through 5 years ............................................................................................... "
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"text": "17,729 18,241"
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"text": "Due after 5 years through 10 years............................................................................................ "
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"text": "17,262 18,215"
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"text": "Due after 10 years............................................................................................................."
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"text": "23,360 24,638"
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"text": "62,089 64,854"
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"text": "Mortgage-backed securities, collateralized mortgage obligations and pass-through securities "
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"text": "3,192 3,280"
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"text": "$ 65,281 $ 68,134"
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"text": "Pre-refunded bonds of $2.06 billion and $2.85 billion at December 31, 2019 and 2018, respectively, were bonds for which states "
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"text": "or municipalities have established irrevocable trusts, almost exclusively comprised of U.S. Treasury securities and obligations of "
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"text": "U.S. government and government agencies and authorities. These trusts were created to fund the payment of principal and interest "
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"text": "due under the bonds. "
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"text": "The Company’s fixed maturity investment portfolio at December 31, 2019 and 2018 included $3.28 billion and $2.57 billion, "
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"text": "respectively, of residential mortgage-backed securities, which include pass-through securities and collateralized mortgage "
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"text": "obligations (CMOs). Included in the totals at December 31, 2019 and 2018 were $1.52 billion and $859 million, respectively, of"
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"text": "GNMA, FNMA, FHLMC (excluding FHA project loans) and Canadian government guaranteed residential mortgage-backed pass\u0002"
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"text": "through securities classified as available for sale. Also included in those totals were residential CMOs classified as available for "
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"text": "sale with a fair value of $1.76 billion and $1.71 billion at December 31, 2019 and 2018, respectively. Approximately 54% and "
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"text": "52% of the Company’s CMO holdings at December 31, 2019 and 2018, respectively, were guaranteed by or fully collateralized "
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"text": "by securities issued by GNMA, FNMA or FHLMC. The weighted average credit rating of the $816 million and $828 million of "
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"text": "non-guaranteed CMO holdings at December 31, 2019 and 2018, respectively, was “Aaa/Aa1” and “Aa1,” respectively. The "
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"text": "weighted average credit rating of all of the above securities was Aaa/Aa1” at both December 31, 2019 and 2018."
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"text": "At December 31, 2019 and 2018, the Company held commercial mortgage-backed securities (CMBS, including FHA project loans) "
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"text": "of $1.51 billion and $1.22 billion, respectively, which are included in “All other corporate bonds” in the tables above. At "
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"text": "December 31, 2019 and 2018, approximately $559 million and $458 million of these securities, respectively, or the loans backing"
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"text": "such securities, contained guarantees by the U.S. government or a government-sponsored enterprise. The weighted average credit"
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"text": "rating of the $950 million and $759 million of non-guaranteed securities at December 31, 2019 and 2018, respectively, was “Aaa”"
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"text": "at both dates. The CMBS portfolio is supported by loans that are diversified across economic sectors and geographical areas. The "
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"text": "weighted average credit rating of the CMBS portfolio was “Aaa” at both December 31, 2019 and 2018."
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"text": "At December 31, 2019 and 2018, the Company had $404 million and $367 million, respectively, of securities on loan as part of a "
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"text": "tri-party lending agreement."
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"text": "Proceeds from sales of fixed maturities classified as available for sale were $2.19 billion, $3.55 billion and $1.85 billion in 2019, "
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"text": "2018 and 2017, respectively. Gross gains of $67 million, $51 million and $42 million and gross losses of $8 million, $18 million"
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"text": "and $38 million were realized on those sales in 2019, 2018 and 2017, respectively."
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"text": "At December 31, 2019 and 2018, the Company’s insurance subsidiaries had $4.34 billion and $4.23 billion, respectively, of securities "
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"text": "on deposit at financial institutions in certain states pursuant to the respective states’ insurance regulatory requirements. Funds "
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"text": "deposited with third parties to be used as collateral to secure various liabilities on behalf of insureds, cedants and other creditors "
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"text": "had a fair value of $54 million and $37 million at December 31, 2019 and 2018, respectively. Other investments pledged as "
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"text": "collateral securing outstanding letters of credit had a fair value of $1 million at both December 31, 2019 and 2018. In addition, "
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"text": "the Company utilizes Lloyd’s trust deposits, whereby owned securities with a fair value of approximately $173 million and $115 "
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"text": "million held by a wholly-owned subsidiary at December 31, 2019 and 2018, respectively, and $34 million and $33 million held "
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"text": "by TRV at December 31, 2019 and 2018, respectively, were pledged into Lloyd’s trust accounts to provide a portion of the capital "
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"text": "needed to support the Company’s obligations at Lloyd’s."
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "3. INVESTMENTS (Continued)"
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"text": "The amortized cost and fair value of fixed maturities by contractual maturity follow. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties."
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"text": "Pre-refunded bonds of $2.06 billion and $2.85 billion at December 31, 2019 and 2018, respectively, were bonds for which states or municipalities have established irrevocable trusts, almost exclusively comprised of U.S. Treasury securities and obligations of U.S. government and government agencies and authorities. These trusts were created to fund the payment of principal and interest due under the bonds."
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"text": "The Company's fixed maturity investment portfolio at December 31, 2019 and 2018 included $3.28 billion and $2.57 billion, respectively, of residential mortgage-backed securities, which include pass-through securities and collateralized mortgage obligations (CMOs). Included in the totals at December 31, 2019 and 2018 were $1.52 billion and $859 million, respectively, of GNMA, FNMA, FHLMC (excluding FHA project loans) and Canadian government guaranteed residential mortgage-backed passthrough securities classified as available for sale. Also included in those totals were residential CMOs classified as available for sale with a fair value of $1.76 billion and $1.71 billion at December 31, 2019 and 2018, respectively. Approximately 54% and 52% of the Company's CMO holdings at December 31, 2019 and 2018, respectively, were guaranteed by or fully collateralized by securities issued by GNMA, FNMA or FHLMC. The weighted average credit rating of the $816 million and $828 million of non-guaranteed CMO holdings at December 31, 2019 and 2018, respectively, was \"Aaa/Aa1\" and \"Aa1,\" respectively. The weighted average credit rating of all of the above securities was Aaa/Aa1\" at both December 31, 2019 and 2018."
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"text": "At December 31, 2019 and 2018, the Company held commercial mortgage-backed securities (CMBS, including FHA project loans) of $1.51 billion and $1.22 billion, respectively, which are included in \"All other corporate bonds\" in the tables above. At December 31, 2019 and 2018, approximately $559 million and $458 million of these securities, respectively, or the loans backing such securities, contained guarantees by the U.S. government or a government-sponsored enterprise. The weighted average credit rating of the $950 million and $759 million of non-guaranteed securities at December 31, 2019 and 2018, respectively, was \"Aaa\" at both dates. The CMBS portfolio is supported by loans that are diversified across economic sectors and geographical areas. The weighted average credit rating of the CMBS portfolio was \"Aaa\" at both December 31, 2019 and 2018."
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"text": "At December 31, 2019 and 2018, the Company had $404 million and $367 million, respectively, of securities on loan as part of a tri-party lending agreement."
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"text": "Proceeds from sales of fixed maturities classified as available for sale were $2.19 billion, $3.55 billion and $1.85 billion in 2019, 2018 and 2017, respectively. Gross gains of $67 million, $51 million and $42 million and gross losses of $8 million, $18 million and $38 million were realized on those sales in 2019, 2018 and 2017, respectively."
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"text": "At December 31, 2019 and 2018, the Company's insurance subsidiaries had $4.34 billion and $4.23 billion, respectively, of securities on deposit at financial institutions in certain states pursuant to the respective states' insurance regulatory requirements. Funds deposited with third parties to be used as collateral to secure various liabilities on behalf of insureds, cedants and other creditors had a fair value of $54 million and $37 million at December 31, 2019 and 2018, respectively. Other investments pledged as collateral securing outstanding letters of credit had a fair value of $1 million at both December 31, 2019 and 2018. In addition, the Company utilizes Lloyd's trust deposits, whereby owned securities with a fair value of approximately $173 million and $115 million held by a wholly-owned subsidiary at December 31, 2019 and 2018, respectively, and $34 million and $33 million held by TRV at December 31, 2019 and 2018, respectively, were pledged into Lloyd's trust accounts to provide a portion of the capital needed to support the Company's obligations at Lloyd's."
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"filename": "NYSE_TRV_2019.pdf",
"page": 164
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-165 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 3. INVESTMENTS (Continued) Equity Securities The cost and fair value of investments in equity securities were as follows: The Company recognized $61 million and ($29) million of net gains (losses) on equity securities still held as of December 31, 2019 and 2018, respectively. Proceeds from sales of equity securities previously classified as available for sale were $765 million in 2017. Gross gains of $239 million and gross losses of $3 million were realized on those sales in 2017. Real Estate The Company's real estate investments include warehouses, office buildings and other commercial land and properties that are directly owned. The Company negotiates commercial leases with individual tenants through unrelated, licensed real estate brokers. Negotiated terms and conditions include, among others, rental rates, length of lease period and improvements to the premises to be provided by the landlord. There were no sales of real estate investments in 2019. Proceeds from the sale of real estate investments were $74 million and $23 million in 2018 and 2017, respectively. Gross gains of $23 million and $10 million were realized on those sales in 2018 and 2017, respectively, and there were no gross losses. Accumulated depreciation on real estate held for investment purposes was $422 million and $383 million at December 31, 2019 and 2018, respectively. Future minimum rental income on operating leases relating to the Company's real estate properties is expected to be $110 million, $102 million, $85 million, $61 million and $45 million for 2020, 2021, 2022, 2023 and 2024, respectively, and $71 million for 2025 and thereafter. Short-term Securities The Company's short-term securities consist of Aaa-rated registered money market funds, U.S. Treasury securities, high-quality commercial paper (primarily A1/P1) and high-quality corporate securities purchased within a year to their maturity with a combined average of 54 days to maturity at December 31, 2019. The amortized cost of these securities, which totaled $4.94 billion and $3.99 billion at December 31, 2019 and 2018, respectively, approximated their fair value. Variable Interest Entities Entities which do not have sufficient equity at risk to allow the entity to finance its activities without additional financial support or in which the equity investors, as a group, do not have the characteristic of a controlling financial interest are referred to as variable interest entities (VIE). A VIE is consolidated by the variable interest holder that is determined to have the controlling financial interest (primary beneficiary) as a result of having both the power to direct the activities of a VIE that most significantly impact the VIE's economic performance and the obligation to absorb losses or right to receive benefits from the VIE that could potentially be significant to the VIE. The Company determines whether it is the primary beneficiary of an entity subject to consolidation based on a qualitative assessment of the VIE's capital structure, contractual terms, nature of the VIE's operations 146 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "INVESTMENTS (Continued)"
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"text": "Equity Securities"
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"text": "The cost and fair value of investments in equity securities were as follows:"
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"text": "(at December 31, 2019, in millions) "
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"text": "Gross Gains Gross Losses Fair Value"
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"text": "Public common stock ......................................................... "
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"text": "$ 341 $ 45 $ 3 $ 383"
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"text": "Non-redeemable preferred stock ........................................ "
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"text": "35 "
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"text": "7 "
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"text": "— "
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"text": "42"
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"text": "Total ................................................................................. "
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"text": "$ 376 $ 52 $ 3 $ 425"
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"text": "(at December 31, 2018, in millions) "
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"text": "Cost "
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"text": "Gross Gains Gross Losses Fair Value"
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"text": "Public common stock ......................................................... "
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"text": "$ 338 $ 2 $ 24 $ 316"
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"text": "Non-redeemable preferred stock ........................................ "
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"text": "44 "
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"text": "8 "
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"text": "— "
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"text": "52"
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"text": "Total ................................................................................. "
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"text": "$ 382 $ 10 $ 24 $ 368"
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"text": "The Company recognized $61 million and ($29) million of net gains (losses) on equity securities still held as of December 31, "
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"text": "2019 and 2018, respectively. "
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"text": "Proceeds from sales of equity securities previously classified as available for sale were $765 million in 2017. Gross gains of $239 "
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"text": "million and gross losses of $3 million were realized on those sales in 2017."
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"text": "Real Estate"
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"text": "The Company’s real estate investments include warehouses, office buildings and other commercial land and properties that are "
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"text": "directly owned. The Company negotiates commercial leases with individual tenants through unrelated, licensed real estate brokers. "
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"text": "Negotiated terms and conditions include, among others, rental rates, length of lease period and improvements to the premises to"
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"text": "be provided by the landlord."
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"text": "There were no sales of real estate investments in 2019. Proceeds from the sale of real estate investments were $74 million and"
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"text": "$23 million in 2018 and 2017, respectively. Gross gains of $23 million and $10 million were realized on those sales in 2018 and "
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"text": "2017, respectively, and there were no gross losses. Accumulated depreciation on real estate held for investment purposes was "
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"text": "$422 million and $383 million at December 31, 2019 and 2018, respectively."
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"text": "Future minimum rental income on operating leases relating to the Company’s real estate properties is expected to be $110 million, "
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"text": "$102 million, $85 million, $61 million and $45 million for 2020, 2021, 2022, 2023 and 2024, respectively, and $71 million for "
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"text": "2025 and thereafter."
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"text": "Short-term Securities"
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"text": "The Company’s short-term securities consist of Aaa-rated registered money market funds, U.S. Treasury securities, high-quality "
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"text": "commercial paper (primarily A1/P1) and high-quality corporate securities purchased within a year to their maturity with a combined "
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"text": "average of 54 days to maturity at December 31, 2019. The amortized cost of these securities, which totaled $4.94 billion and $3.99 "
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"text": "billion at December 31, 2019 and 2018, respectively, approximated their fair value."
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"text": "Variable Interest Entities"
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"text": "Entities which do not have sufficient equity at risk to allow the entity to finance its activities without additional financial support "
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"text": "or in which the equity investors, as a group, do not have the characteristic of a controlling financial interest are referred to as "
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"text": "variable interest entities (VIE). A VIE is consolidated by the variable interest holder that is determined to have the controlling "
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"text": "potentially be significant to the VIE. The Company determines whether it is the primary beneficiary of an entity subject to "
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "3. INVESTMENTS (Continued)"
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"text": "Equity Securities"
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"text": "The cost and fair value of investments in equity securities were as follows:"
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"text": "The Company recognized $61 million and ($29) million of net gains (losses) on equity securities still held as of December 31, 2019 and 2018, respectively."
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"text": "Proceeds from sales of equity securities previously classified as available for sale were $765 million in 2017. Gross gains of $239 million and gross losses of $3 million were realized on those sales in 2017."
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"text": "The Company's real estate investments include warehouses, office buildings and other commercial land and properties that are directly owned. The Company negotiates commercial leases with individual tenants through unrelated, licensed real estate brokers. Negotiated terms and conditions include, among others, rental rates, length of lease period and improvements to the premises to be provided by the landlord."
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"text": "There were no sales of real estate investments in 2019. Proceeds from the sale of real estate investments were $74 million and $23 million in 2018 and 2017, respectively. Gross gains of $23 million and $10 million were realized on those sales in 2018 and 2017, respectively, and there were no gross losses. Accumulated depreciation on real estate held for investment purposes was $422 million and $383 million at December 31, 2019 and 2018, respectively."
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"text": "Future minimum rental income on operating leases relating to the Company's real estate properties is expected to be $110 million, $102 million, $85 million, $61 million and $45 million for 2020, 2021, 2022, 2023 and 2024, respectively, and $71 million for 2025 and thereafter."
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"text": "The Company's short-term securities consist of Aaa-rated registered money market funds, U.S. Treasury securities, high-quality commercial paper (primarily A1/P1) and high-quality corporate securities purchased within a year to their maturity with a combined average of 54 days to maturity at December 31, 2019. The amortized cost of these securities, which totaled $4.94 billion and $3.99 billion at December 31, 2019 and 2018, respectively, approximated their fair value."
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"text": "Entities which do not have sufficient equity at risk to allow the entity to finance its activities without additional financial support or in which the equity investors, as a group, do not have the characteristic of a controlling financial interest are referred to as variable interest entities (VIE). A VIE is consolidated by the variable interest holder that is determined to have the controlling financial interest (primary beneficiary) as a result of having both the power to direct the activities of a VIE that most significantly impact the VIE's economic performance and the obligation to absorb losses or right to receive benefits from the VIE that could potentially be significant to the VIE. The Company determines whether it is the primary beneficiary of an entity subject to consolidation based on a qualitative assessment of the VIE's capital structure, contractual terms, nature of the VIE's operations"
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-166 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 3. INVESTMENTS (Continued) and purpose and the Company's relative exposure to the related risks of the VIE on the date it becomes initially involved in the VIE. The Company reassesses its VIE determination with respect to an entity on an ongoing basis. The Company is a passive investor in limited partner equity interests issued by third party VIEs. These include certain of the Company's investments in private equity limited partnerships, hedge funds and real estate partnerships where the Company is not related to the general partner. These investments are generally accounted for under the equity method and reported in the Company's consolidated balance sheet as other investments unless the Company is deemed the primary beneficiary. These equity interests generally cannot be redeemed. Distributions from these investments are received by the Company as a result of liquidation of the underlying investments of the funds and/or as income distribution. The Company's maximum exposure to loss with respect to these investments is limited to the investment carrying amounts reported in the Company's consolidated balance sheet and any unfunded commitment. The Company considers an investment in a VIE in which it has a 20% or greater equity interest as a significant VIE. Neither the Company's carrying amounts nor the unfunded commitments related to these significant VIE's are material individually or in the aggregate. Unrealized Investment Losses The following tables summarize, for all investments in an unrealized loss position at December 31, 2019 and 2018, the aggregate fair value and gross unrealized loss by length of time those securities have been continuously in an unrealized loss position. The fair value amounts reported in the tables are estimates that are prepared using the process described in note 4. The Company also relies upon estimates of several factors in its review and evaluation of individual investments, using the process described in note 1, in determining whether such investments are other-than-temporarily impaired. 147 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "INVESTMENTS (Continued)"
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"text": "and purpose and the Company’s relative exposure to the related risks of the VIE on the date it becomes initially involved in the "
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"text": "VIE. The Company reassesses its VIE determination with respect to an entity on an ongoing basis."
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"text": "The Company is a passive investor in limited partner equity interests issued by third party VIEs. These include certain of the "
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"text": "related to the general partner. These investments are generally accounted for under the equity method and reported in the Company’s "
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"text": "consolidated balance sheet as other investments unless the Company is deemed the primary beneficiary. These equity interests "
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"text": "generally cannot be redeemed. Distributions from these investments are received by the Company as a result of liquidation of the "
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"text": "underlying investments of the funds and/or as income distribution. The Company’s maximum exposure to loss with respect to "
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"text": "these investments is limited to the investment carrying amounts reported in the Company’s consolidated balance sheet and any "
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"text": "unfunded commitment. The Company considers an investment in a VIE in which it has a 20% or greater equity interest as a "
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"text": "significant VIE. Neither the Company’s carrying amounts nor the unfunded commitments related to these significant VIE’s are "
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"text": "material individually or in the aggregate. "
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"text": "Unrealized Investment Losses"
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"text": "The following tables summarize, for all investments in an unrealized loss position at December 31, 2019 and 2018, the aggregate"
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"text": "fair value and gross unrealized loss by length of time those securities have been continuously in an unrealized loss position. The "
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"text": "fair value amounts reported in the tables are estimates that are prepared using the process described in note 4. The Company also "
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"text": "relies upon estimates of several factors in its review and evaluation of individual investments, using the process described in note "
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"text": "1, in determining whether such investments are other-than-temporarily impaired."
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"text": "(at December 31, 2019, in millions)"
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"text": "U.S. Treasury securities and"
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"text": "obligations of U.S. government and"
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"text": "authorities ........................................ "
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"text": "$ 5 $ — $ 193 $ — $ 198 $ —"
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"text": "Obligations of states, municipalities"
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"text": "and political subdivisions ................ "
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"text": "668 "
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"text": "Debt securities issued by foreign"
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"text": "governments .................................... "
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"text": "1 147 "
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"text": "Mortgage-backed securities,"
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"text": "collateralized mortgage obligations"
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"text": "and pass-through securities.............. "
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"text": "399 "
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"text": "2 131 "
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"text": "1 530 "
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"text": "All other corporate bonds.................... "
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"text": "1,571 10 662 "
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"text": "8 2,233 18"
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"text": "Total fixed maturities........................ "
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"text": "$ 2,900 $ 19 $ 1,145 $ 10 $ 4,045 $ 29"
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "3. INVESTMENTS (Continued)"
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"text": "and purpose and the Company's relative exposure to the related risks of the VIE on the date it becomes initially involved in the VIE. The Company reassesses its VIE determination with respect to an entity on an ongoing basis."
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"text": "The Company is a passive investor in limited partner equity interests issued by third party VIEs. These include certain of the Company's investments in private equity limited partnerships, hedge funds and real estate partnerships where the Company is not related to the general partner. These investments are generally accounted for under the equity method and reported in the Company's consolidated balance sheet as other investments unless the Company is deemed the primary beneficiary. These equity interests generally cannot be redeemed. Distributions from these investments are received by the Company as a result of liquidation of the underlying investments of the funds and/or as income distribution. The Company's maximum exposure to loss with respect to these investments is limited to the investment carrying amounts reported in the Company's consolidated balance sheet and any unfunded commitment. The Company considers an investment in a VIE in which it has a 20% or greater equity interest as a significant VIE. Neither the Company's carrying amounts nor the unfunded commitments related to these significant VIE's are material individually or in the aggregate."
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"text": "Unrealized Investment Losses"
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"text": "The following tables summarize, for all investments in an unrealized loss position at December 31, 2019 and 2018, the aggregate fair value and gross unrealized loss by length of time those securities have been continuously in an unrealized loss position. The fair value amounts reported in the tables are estimates that are prepared using the process described in note 4. The Company also relies upon estimates of several factors in its review and evaluation of individual investments, using the process described in note 1, in determining whether such investments are other-than-temporarily impaired."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-167 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 3. INVESTMENTS (Continued) At December 31, 2019, the Company had no fixed maturity investments reported at fair value for which fair value was less than 80% of amortized cost. Impairment Charges Impairment charges included in net realized investment gains in the consolidated statement of income were as follows: The following tables present the cumulative amount of, and the changes during the year in, credit losses on fixed maturities held at December 31, 2019 and 2018, that were recognized in the consolidated statement of income from other-than-temporary impairments (OTTI) and for which a portion of the OTTI was recognized in other comprehensive income (loss) in the consolidated balance sheet. 148 | [
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"text": "INVESTMENTS (Continued)"
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"text": "(at December 31, 2018, in millions)"
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"text": "Gross"
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"text": "Fixed maturities"
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"text": "U.S. Treasury securities and"
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"text": "obligations of U.S. government and"
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"text": "government agencies and"
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"text": "authorities ........................................ "
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"text": "$ 484 $ 5 $ 1,011 $ 11 $ 1,495 $ 16"
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"text": "Obligations of states, municipalities"
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"text": "and political subdivisions ................ "
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"text": "5,241 82 3,298 125 8,539 207"
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"text": "Debt securities issued by foreign"
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"text": "governments .................................... "
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"text": "96 — 328 "
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"text": "5 424 "
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"text": "5"
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"text": "Mortgage-backed securities,"
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"text": "collateralized mortgage obligations"
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"text": "and pass-through securities.............. "
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"text": "593 "
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"text": "9 1,070 29 1,663 38"
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"text": "All other corporate bonds.................... "
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"text": "12,622 303 6,872 280 19,494 583"
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"text": "Total fixed maturities........................ "
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"text": "$ 19,036 $ 399 $ 12,579 $ 450 $ 31,615 $ 849"
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"text": "At December 31, 2019, the Company had no fixed maturity investments reported at fair value for which fair value was less than "
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"text": "80% of amortized cost."
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"text": "Impairment Charges"
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"text": "Impairment charges included in net realized investment gains in the consolidated statement of income were as follows:"
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"text": "(for the year ended December 31, in millions) "
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"text": "2019 "
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"text": "2018 "
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"text": "2017"
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"text": "Fixed maturities"
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"text": "U.S. Treasury securities and obligations of U.S. government and"
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"text": "government agencies and authorities....................................................... "
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"text": "$ — "
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"text": "$ —$ —"
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"text": "Obligations of states, municipalities and political subdivisions.................. "
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"text": "— "
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"text": "Debt securities issued by foreign governments........................................... "
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"text": "— —"
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"text": "Mortgage-backed securities, collateralized mortgage obligations and"
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"text": "pass-through securities............................................................................. "
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"text": "— "
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"text": "— —"
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"text": "All other corporate bonds ............................................................................ "
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"text": "4 "
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"text": "Redeemable preferred stock ........................................................................ "
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"text": "— "
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"text": "— —"
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"text": "Total fixed maturities.............................................................................. "
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"text": "4 "
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"text": "1 4"
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"text": "Equity securities"
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"text": "Public common stock .................................................................................. "
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"text": "— "
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"text": "— 9"
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"text": "Non-redeemable preferred stock ................................................................. "
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"text": "— "
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"text": "— —"
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"text": "Total equity securities............................................................................. "
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"text": "— "
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"text": "— 9"
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"text": "Other investments"
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"text": "........................................................................................ "
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"text": "— "
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"text": "— 1"
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"text": "Total ........................................................................................................ "
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"text": "$ 4 "
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"text": "$ 1 $ 14"
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"text": "The following tables present the cumulative amount of, and the changes during the year in, credit losses on fixed maturities held "
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"text": "at December 31, 2019 and 2018, that were recognized in the consolidated statement of income from other-than-temporary "
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"text": "impairments (OTTI) and for which a portion of the OTTI was recognized in other comprehensive income (loss) in the consolidated "
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"text": "balance sheet."
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "3. INVESTMENTS (Continued)"
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"html_seq": "<table><tr><td></td><th colspan=\"2\">Less than 12 months</th><th colspan=\"2\">Total</th></tr><tr><td>(at December 31, 2018, in millions)</td><th>Fair Value</th><th>Gross Unrealized Losses</th><th>Gross Unrealized Losses Fair Value</th><th>Fair Value Gross Unrealized Losses</th></tr><tr><td>Fixed maturities</td><td></td><td></td><td></td><td></td></tr><tr><td>U.S. Treasury securities and obligations of U.S. government and government agencies and authorities ........................................</td><td></td><td></td><td></td><td>$ 484 $ 5 $ 1,011 $ 11 $ 1,495 $ 16</td></tr><tr><td>Obligations of states, municipalities and political subdivisions ................</td><td></td><td></td><td>5,241 82 3,298 125 8,539 207</td><td></td></tr><tr><td>Debt securities issued by foreign governments ....................................</td><td></td><td>96 - 328</td><td>5 424</td><td>5</td></tr><tr><td>Mortgage-backed securities, collateralized mortgage obligations and pass-through securities..............</td><td>593</td><td></td><td>9 1,070 29 1,663 38</td><td></td></tr><tr><td>All other corporate bonds....................</td><td></td><td></td><td>12,622 303 6,872 280 19,494 583</td><td></td></tr><tr><td>Total fixed maturities........................</td><td></td><td></td><td></td><td>$ 19,036 $ 399 $ 12,579 $ 450 $ 31,615 $ 849</td></tr></table>",
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"text": "At December 31, 2019, the Company had no fixed maturity investments reported at fair value for which fair value was less than 80% of amortized cost."
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"text": "Impairment charges included in net realized investment gains in the consolidated statement of income were as follows:"
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"text": "The following tables present the cumulative amount of, and the changes during the year in, credit losses on fixed maturities held at December 31, 2019 and 2018, that were recognized in the consolidated statement of income from other-than-temporary impairments (OTTI) and for which a portion of the OTTI was recognized in other comprehensive income (loss) in the consolidated balance sheet."
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"page": 167
} |
e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-168 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 3. INVESTMENTS (Continued) Concentrations and Credit Quality Concentrations of credit risk arise from exposure to counterparties that are engaged in similar activities and have similar economic characteristics that could cause their ability to meet contractual obligations to be similarly affected by changes in economic or other conditions. The Company seeks to mitigate credit risk by actively monitoring the creditworthiness of counterparties, obtaining collateral as deemed appropriate and applying controls that include credit approvals, limits of credit exposure and other monitoring procedures. At December 31, 2019 and 2018, other than U.S. Treasury securities and obligations of U.S. government and government agencies and authorities, the Company was not exposed to any concentration of credit risk of a single issuer greater than 5% of the Company's shareholders' equity. Included in fixed maturities are below investment grade securities totaling $1.46 billion and $1.48 billion at December 31, 2019 and 2018, respectively. The Company defines its below investment grade securities as those securities rated below investment grade by external rating agencies, or the equivalent by the Company when a public rating does not exist. Such securities include below investment grade bonds that are publicly traded and certain other privately issued bonds that are classified as below investment grade loans. 149 | [
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"text": "Fixed maturities"
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"text": "Mortgage-backed securities,"
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"text": "collateralized mortgage"
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"text": "(49) 10 "
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"text": "Total fixed maturities ............. "
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"text": "$ 57 $ — $ — $ "
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"text": "(58) $ 13 $ 12"
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"text": "OTTI Credit"
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"text": "and 2018, respectively. The Company defines its below investment grade securities as those securities rated below investment "
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "Concentrations of credit risk arise from exposure to counterparties that are engaged in similar activities and have similar economic characteristics that could cause their ability to meet contractual obligations to be similarly affected by changes in economic or other conditions. The Company seeks to mitigate credit risk by actively monitoring the creditworthiness of counterparties, obtaining collateral as deemed appropriate and applying controls that include credit approvals, limits of credit exposure and other monitoring procedures."
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"text": "Included in fixed maturities are below investment grade securities totaling $1.46 billion and $1.48 billion at December 31, 2019 and 2018, respectively. The Company defines its below investment grade securities as those securities rated below investment grade by external rating agencies, or the equivalent by the Company when a public rating does not exist. Such securities include below investment grade bonds that are publicly traded and certain other privately issued bonds that are classified as below investment grade loans."
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "2019 "
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{
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"text": "2018 "
},
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"text": "2017"
},
{
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"text": "Gross investment income"
},
{
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"text": "Fixed maturities ............................................................................................. "
},
{
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"text": "$ 2,070 "
},
{
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"text": "$ 1,980 $ 1,895"
},
{
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"text": "Equity securities............................................................................................. "
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"text": "15 "
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"text": "16 "
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"text": "28"
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"text": "Short-term securities ...................................................................................... "
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"text": "105 "
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"text": "92 "
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"text": "62"
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"text": "Real estate investments.................................................................................. "
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"text": "55 "
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"text": "48 "
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"text": "44"
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"text": "Other investments .......................................................................................... "
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"text": "263 "
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"text": "377 "
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"text": "406"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "Gross investment income ............................................................................ "
},
{
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"text": "2,508 "
},
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"text": "2,513 2,435"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "Investment expenses ...................................................................................... "
},
{
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"text": "40 "
},
{
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"text": "39 "
},
{
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"text": "38"
},
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"text": "Net investment income................................................................................ "
},
{
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"text": "$ 2,468 "
},
{
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"text": "$ 2,474 $ 2,397"
},
{
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"text": "Changes in net unrealized gains (losses) on investment securities that are included as a separate component of other comprehensive "
},
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"ocr": false,
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"text": "income (loss) were as follows:"
},
{
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"ocr": false,
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"text": "(at and for the year ended December 31, in millions) "
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"text": "2019 "
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"text": "2018 "
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"text": "2017"
},
{
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"ocr": false,
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"text": "Changes in net unrealized investment gains (losses)"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "Fixed maturities ............................................................................................. "
},
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"text": "$ 2,990 "
},
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"text": "$ "
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"text": "(1,515) $ 513"
},
{
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"ocr": false,
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"text": "Equity securities............................................................................................. "
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"text": "— "
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"text": "— "
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"text": "(215)"
},
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"text": "Other investments .......................................................................................... "
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"text": "— "
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"text": "(1) 4"
},
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"text": "Change in net pre-tax unrealized gains (losses) on investment securities... "
},
{
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"text": "2,990 "
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"text": "(1,516) "
},
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"text": "302"
},
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"ocr": false,
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"text": "Related tax expense (benefit)......................................................................... "
},
{
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"text": "631 "
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"text": "(319) "
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"text": "78"
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"ocr": false,
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"text": "Change in net unrealized gains (losses) on investment securities............... "
},
{
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"text": "2,359 "
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{
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"text": "(1,197) "
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{
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"text": "224"
},
{
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"text": "Cumulative effect of adoption of updated accounting guidance for equity"
},
{
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"text": "financial instruments at January 1, 2018.................................................... "
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"text": "— "
},
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"text": "(22) —"
},
{
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"text": "Reclassification of certain tax effects from accumulated other"
},
{
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"ocr": false,
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"text": "comprehensive income at January 1, 2018................................................. "
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{
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"text": "— "
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"text": "152 "
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"text": "—"
},
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"text": "Balance, beginning of year ............................................................................ "
},
{
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"text": "(113) "
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"text": "954 "
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"text": "730"
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"text": "Balance, end of year .................................................................................... "
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"text": "$ 2,246 "
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"text": "$ "
},
{
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"text": "(113) $ 954"
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{
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"text": "The total impact of net unrealized gains on investment securities was $1.11 billion after-tax at December 31, 2017, which included "
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"text": "the $954 million reported in accumulated other comprehensive income shown above, as well as $158 million included in retained "
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"text": "earnings that was part of the impact of enactment of the Tax Cuts and Jobs Act of 2017 recorded in earnings."
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"text": "Derivative Financial Instruments"
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"text": "From time to time, the Company enters into U.S. Treasury note futures contracts to modify the effective duration of specific assets "
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"text": "within the investment portfolio. U.S. Treasury futures contracts require a daily mark-to-market and settlement with the broker"
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"text": ". "
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"text": "At December 31, 2019 and 2018, the Company had no open U.S. Treasury futures contracts. Net realized investment gains and "
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"text": "losses related to U.S. Treasury futures contracts in 2019, 2018 and 2017 were not significant."
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"text": "Changes in net unrealized gains (losses) on investment securities that are included as a separate component of other comprehensive income (loss) were as follows:"
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"text": "The total impact of net unrealized gains on investment securities was $1.11 billion after-tax at December 31, 2017, which included the $954 million reported in accumulated other comprehensive income shown above, as well as $158 million included in retained earnings that was part of the impact of enactment of the Tax Cuts and Jobs Act of 2017 recorded in earnings."
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"text": "From time to time, the Company enters into U.S. Treasury note futures contracts to modify the effective duration of specific assets within the investment portfolio. U.S. Treasury futures contracts require a daily mark-to-market and settlement with the broker . At December 31, 2019 and 2018, the Company had no open U.S. Treasury futures contracts. Net realized investment gains and losses related to U.S. Treasury futures contracts in 2019, 2018 and 2017 were not significant."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-170 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 3. INVESTMENTS (Continued) The Company also sells a small amount of U.S. equity index put option contracts that are settled for cash upon their expiration or when they are rolled over. Net realized investment losses related to these derivatives in 2019, 2018 and 2017 were not significant. 4. FAIR VALUE MEASUREMENTS The Company's estimates of fair value for financial assets and financial liabilities are based on the framework established in the fair value accounting guidance. The framework is based on the inputs used in valuation, gives the highest priority to quoted prices in active markets and requires that observable inputs be used in the valuations when available. The disclosure of fair value estimates in the fair value accounting guidance hierarchy is based on whether the significant inputs into the valuation are observable. In determining the level of the hierarchy in which the estimate is disclosed, the highest priority is given to unadjusted quoted prices in active markets and the lowest priority to unobservable inputs that reflect the Company's significant market assumptions. The level in the fair value hierarchy within which the fair value measurement is reported is based on the lowest level input that is significant to the measurement in its entirety. The three levels of the hierarchy are as follows: - · Level 1 -Unadjusted quoted market prices for identical assets or liabilities in active markets that the Company has the ability to access. - · Level 2 -Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; or valuations based on models where the significant inputs are observable (e.g., interest rates, yield curves, prepayment speeds, default rates, loss severities, etc.) or can be corroborated by observable market data. - · Level 3 -Valuations based on models where significant inputs are not observable. The unobservable inputs reflect the Company's own assumptions about the inputs that market participants would use. Valuation of Investments Reported at Fair Value in Financial Statements The fair value of a financial instrument is the estimated amount at which the instrument could be exchanged in an orderly transaction between knowledgeable, unrelated, willing parties, i.e., not in a forced transaction. The estimated fair value of a financial instrument may differ from the amount that could be realized if the security was sold in an immediate sale, e.g., a forced transaction. Additionally, the valuation of investments is more subjective when markets are less liquid due to the lack of market based inputs, which may increase the potential that the estimated fair value of an investment is not reflective of the price at which an actual transaction would occur. For investments that have quoted market prices in active markets, the Company uses the unadjusted quoted market prices as fair value and includes these prices in the amounts disclosed in Level 1 of the hierarchy. The Company receives the quoted market prices from third party, nationally recognized pricing services. When quoted market prices are unavailable, the Company utilizes these pricing services to determine an estimate of fair value. The fair value estimates provided from these pricing services are included in the amount disclosed in Level 2 of the hierarchy. If quoted market prices and an estimate from a pricing service are unavailable, the Company produces an estimate of fair value based on internally developed valuation techniques, which, depending on the level of observable market inputs, will render the fair value estimate as Level 2 or Level 3. The Company bases all of its estimates of fair value for assets on the bid price as it represents what a third-party market participant would be willing to pay in an arm's length transaction. Fixed Maturities The Company utilized a pricing service to estimate fair value measurements for approximately 99% of its fixed maturities at both December 31, 2019 and 2018. The pricing service utilizes market quotations for fixed maturity securities that have quoted prices in active markets. Since fixed maturities other than U.S. Treasury securities generally do not trade on a daily basis, the pricing service prepares estimates of fair value measurements for these securities using its proprietary pricing applications, which include available relevant market information, benchmark curves, benchmarking of like securities, sector groupings and matrix pricing. Additionally, the pricing service uses an Option Adjusted Spread model to develop prepayment and interest rate scenarios. The pricing service evaluates each asset class based on relevant market information, relevant credit information, perceived markrket movements and sector news. The market inputs utilized in the pricing evaluation, listed in the approximate order of priority, 151 | [
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"text": "estimates of fair value for assets on the bid price as it represents what a third-party market participant would be willing to pay in "
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"text": "Fixed Maturities"
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"text": "The Company utilized a pricing service to estimate fair value measurements for approximately 99% of its fixed maturities at both "
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"text": "December 31, 2019 and 2018. The pricing service utilizes market quotations for fixed maturity securities that have quoted prices "
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"text": "in active markets. Since fixed maturities other than U.S. Treasury securities generally do not trade on a daily basis, the pricing "
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"text": "service prepares estimates of fair value measurements for these securities using its proprietary pricing applications, which include "
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"text": "available relevant market information, benchmark curves, benchmarking of like securities, sector groupings and matrix pricing. "
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"text": "movements and sector news. The market inputs utilized in the pricing evaluation, listed in the approximate order of priority, "
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "3. INVESTMENTS (Continued)"
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"text": "The Company also sells a small amount of U.S. equity index put option contracts that are settled for cash upon their expiration or when they are rolled over. Net realized investment losses related to these derivatives in 2019, 2018 and 2017 were not significant."
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"text": "4. FAIR VALUE MEASUREMENTS"
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"text": "The Company's estimates of fair value for financial assets and financial liabilities are based on the framework established in the fair value accounting guidance. The framework is based on the inputs used in valuation, gives the highest priority to quoted prices in active markets and requires that observable inputs be used in the valuations when available. The disclosure of fair value estimates in the fair value accounting guidance hierarchy is based on whether the significant inputs into the valuation are observable. In determining the level of the hierarchy in which the estimate is disclosed, the highest priority is given to unadjusted quoted prices in active markets and the lowest priority to unobservable inputs that reflect the Company's significant market assumptions. The level in the fair value hierarchy within which the fair value measurement is reported is based on the lowest level input that is significant to the measurement in its entirety. The three levels of the hierarchy are as follows:"
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"text": "- · Level 1 -Unadjusted quoted market prices for identical assets or liabilities in active markets that the Company has the ability to access."
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"text": "- · Level 2 -Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; or valuations based on models where the significant inputs are observable (e.g., interest rates, yield curves, prepayment speeds, default rates, loss severities, etc.) or can be corroborated by observable market data."
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"text": "Valuation of Investments Reported at Fair Value in Financial Statements"
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"text": "The fair value of a financial instrument is the estimated amount at which the instrument could be exchanged in an orderly transaction between knowledgeable, unrelated, willing parties, i.e., not in a forced transaction. The estimated fair value of a financial instrument may differ from the amount that could be realized if the security was sold in an immediate sale, e.g., a forced transaction. Additionally, the valuation of investments is more subjective when markets are less liquid due to the lack of market based inputs, which may increase the potential that the estimated fair value of an investment is not reflective of the price at which an actual transaction would occur."
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"text": "For investments that have quoted market prices in active markets, the Company uses the unadjusted quoted market prices as fair value and includes these prices in the amounts disclosed in Level 1 of the hierarchy. The Company receives the quoted market prices from third party, nationally recognized pricing services. When quoted market prices are unavailable, the Company utilizes these pricing services to determine an estimate of fair value. The fair value estimates provided from these pricing services are included in the amount disclosed in Level 2 of the hierarchy. If quoted market prices and an estimate from a pricing service are unavailable, the Company produces an estimate of fair value based on internally developed valuation techniques, which, depending on the level of observable market inputs, will render the fair value estimate as Level 2 or Level 3. The Company bases all of its estimates of fair value for assets on the bid price as it represents what a third-party market participant would be willing to pay in an arm's length transaction."
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"text": "The Company utilized a pricing service to estimate fair value measurements for approximately 99% of its fixed maturities at both December 31, 2019 and 2018. The pricing service utilizes market quotations for fixed maturity securities that have quoted prices in active markets. Since fixed maturities other than U.S. Treasury securities generally do not trade on a daily basis, the pricing service prepares estimates of fair value measurements for these securities using its proprietary pricing applications, which include available relevant market information, benchmark curves, benchmarking of like securities, sector groupings and matrix pricing. Additionally, the pricing service uses an Option Adjusted Spread model to develop prepayment and interest rate scenarios."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-171 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 4. FAIR VALUE MEASUREMENTS (Continued) include: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids , offers, reference data, and industry and economic events. The extent of the use of each market input depends on the asset class and the market conditions. Depending on the security, the priority of the use of inputs may change or some market inputs may not be relevant. For some securities, additional inputs may be necessary. The pricing service utilized by the Company has indicated that it will only produce an estimate of fair value if there is objectively verifiable information to produce a valuation. If the pricing service discontinues pricing an investment, the Company would be required to produce an estimate of fair value using some of the same methodologies as the pricing service but would have to make assumptions for any market-based inputs that were unavailable due to market conditions. The Company reviews the estimates of fair value provided by the pricing service and compares the estimates to the Company's knowledge of the market to determine if the estimates obtained are representative of the prices in the market. In addition, the Company has periodic discussions with the pricing service to discuss and understand any changes in process and their responsiveness to changes occurring in the markets. The Company also monitors all monthly price changes and further evaluates any securities whose value changed more than 10% from the prior month. The Company has implemented various other processes including randomly selecting purchased or sold securities and comparing execution prices to the estimates from the pricing service as well as reviewing securities whose valuation did not change from their previous valuation (stale price review). The Company also uses a second independent pricing service to further test the primary pricing service's valuation of the Company's fixed maturity portfolio. These processes have not highlighted any significant issues with the fair value estimates received from the primary pricing service. The fair value estimates of most fixed maturity investments are based on observable market information rather than market quotes. Accordingly, the estimates of fair value for such fixed maturities, other than U.S. Treasury securities, provided by the pricing service are included in the amount disclosed in Level 2 of the hierarchy. The estimated fair value of U.S. Treasury securities is included in the amount disclosed in Level 1 as the estimates are based on unadjusted market prices. The Company also holds certain fixed maturity investments which are not priced by the pricing service and, accordingly, estimates the fair value of such fixed maturities using an internal matrix that is based on market information regarding interest rates, credit spreads and liquidity. The underlying source data for calculating the matrix of credit spreads relative to the U.S. Treasury curve are observable market-based indices that relate to corporate and high-yield fixed maturity investments. The Company includes the fair value estimates of these corporate bonds in Level 2, since all significant inputs are market observable. While the vast majority of the Company's fixed maturities are included in Level 2, the Company holds a number of municipal bonds and corporate bonds which are not valued by the pricing service and also estimates the fair value of these bonds using another internal pricing matrix that includes some unobservable inputs that are significant to the valuation. Due to the limited amount of observable market information, the Company includes the fair value estimates for these particular bonds in Level 3. The fair value of the fixed maturities for which the Company used this internal pricing matrix was $73 million and $82 million at December 31, 2019 and 2018, respectively. Additionally, the Company holds a small amount of other fixed maturity investments that have characteristics that make them unsuitable for matrix pricing. For these fixed maturities, the Company obtains a quote from a broker (primarily the market maker). The fair value of the fixed maturities for which the Company received a broker quote was $28 million and $104 million at December 31, 2019 and 2018, respectively. Due to the disclaimers on the quotes that indicate that the price is indicative only, the Company includes these fair value estimates in Level 3. Equity Securities - Public Common Stock and Non-Redeemable Preferred Stock For public common stock and non-redeemable preferred stocks, the Company receives prices from pricing services that are based on observable market transactions and includes these estimates in the amount disclosed in Level 1. When current market quotes in active markets are unavailable for certain non-redeemable preferred stocks held by the Company, the Company receives an estimate of fair value from the pricing services. The services utilize similar methodologies to price the non-redeemable preferred stocks as they do for the fixed maturities. The Company includes the fair value estimate for these non-redeemable preferred stocks in the amount disclosed in Level 2. 152 | [
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"text": "offers, reference data, and industry and economic events. The extent of the use of each market input depends on the asset class "
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"text": "verifiable information to produce a valuation. If the pricing service discontinues pricing an investment, the Company would be "
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"text": "spreads and liquidity. The underlying source data for calculating the matrix of credit spreads relative to the U.S. Treasury curve "
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"text": "are observable market-based indices that relate to corporate and high-yield fixed maturity investments. The Company includes "
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"text": "the fair value estimates of these corporate bonds in Level 2, since all significant inputs are market observable. "
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"text": "While the vast majority of the Company’s fixed maturities are included in Level 2, the Company holds a number of municipal "
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"text": "bonds and corporate bonds which are not valued by the pricing service and also estimates the fair value of these bonds using "
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"text": "another internal pricing matrix that includes some unobservable inputs that are significant to the valuation. Due to the limited "
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"text": "amount of observable market information, the Company includes the fair value estimates for these particular bonds in Level 3. "
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"text": "The fair value of the fixed maturities for which the Company used this internal pricing matrix was $73 million and $82 million at "
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"text": "December 31, 2019 and 2018, respectively. Additionally, the Company holds a small amount of other fixed maturity investments "
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"text": "that have characteristics that make them unsuitable for matrix pricing. For these fixed maturities, the Company obtains a quote "
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"text": "from a broker (primarily the market maker). The fair value of the fixed maturities for which the Company received a broker quote "
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"text": "was $28 million and $104 million at December 31, 2019 and 2018, respectively. Due to the disclaimers on the quotes that indicate "
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"text": "Equity Securities — Public Common Stock and Non-Redeemable Preferred Stock"
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"text": "on observable market transactions and includes these estimates in the amount disclosed in Level 1. When current market quotes "
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"text": "in active markets are unavailable for certain non-redeemable preferred stocks held by the Company, the Company receives an "
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"text": "estimate of fair value from the pricing services. The services utilize similar methodologies to price the non-redeemable preferred "
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"text": "stocks as they do for the fixed maturities. The Company includes the fair value estimate for these non-redeemable preferred stocks "
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"text": "in the amount disclosed in Level 2."
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "4. FAIR VALUE MEASUREMENTS (Continued)"
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"text": "include: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids , offers, reference data, and industry and economic events. The extent of the use of each market input depends on the asset class and the market conditions. Depending on the security, the priority of the use of inputs may change or some market inputs may not be relevant. For some securities, additional inputs may be necessary."
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"text": "The pricing service utilized by the Company has indicated that it will only produce an estimate of fair value if there is objectively verifiable information to produce a valuation. If the pricing service discontinues pricing an investment, the Company would be required to produce an estimate of fair value using some of the same methodologies as the pricing service but would have to make assumptions for any market-based inputs that were unavailable due to market conditions. The Company reviews the estimates of fair value provided by the pricing service and compares the estimates to the Company's knowledge of the market to determine if the estimates obtained are representative of the prices in the market. In addition, the Company has periodic discussions with the pricing service to discuss and understand any changes in process and their responsiveness to changes occurring in the markets. The Company also monitors all monthly price changes and further evaluates any securities whose value changed more than 10% from the prior month. The Company has implemented various other processes including randomly selecting purchased or sold securities and comparing execution prices to the estimates from the pricing service as well as reviewing securities whose valuation did not change from their previous valuation (stale price review). The Company also uses a second independent pricing service to further test the primary pricing service's valuation of the Company's fixed maturity portfolio. These processes have not highlighted any significant issues with the fair value estimates received from the primary pricing service."
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"text": "The fair value estimates of most fixed maturity investments are based on observable market information rather than market quotes. Accordingly, the estimates of fair value for such fixed maturities, other than U.S. Treasury securities, provided by the pricing service are included in the amount disclosed in Level 2 of the hierarchy. The estimated fair value of U.S. Treasury securities is included in the amount disclosed in Level 1 as the estimates are based on unadjusted market prices."
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"text": "The Company also holds certain fixed maturity investments which are not priced by the pricing service and, accordingly, estimates the fair value of such fixed maturities using an internal matrix that is based on market information regarding interest rates, credit spreads and liquidity. The underlying source data for calculating the matrix of credit spreads relative to the U.S. Treasury curve are observable market-based indices that relate to corporate and high-yield fixed maturity investments. The Company includes the fair value estimates of these corporate bonds in Level 2, since all significant inputs are market observable."
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"text": "While the vast majority of the Company's fixed maturities are included in Level 2, the Company holds a number of municipal bonds and corporate bonds which are not valued by the pricing service and also estimates the fair value of these bonds using another internal pricing matrix that includes some unobservable inputs that are significant to the valuation. Due to the limited amount of observable market information, the Company includes the fair value estimates for these particular bonds in Level 3. The fair value of the fixed maturities for which the Company used this internal pricing matrix was $73 million and $82 million at December 31, 2019 and 2018, respectively. Additionally, the Company holds a small amount of other fixed maturity investments that have characteristics that make them unsuitable for matrix pricing. For these fixed maturities, the Company obtains a quote from a broker (primarily the market maker). The fair value of the fixed maturities for which the Company received a broker quote was $28 million and $104 million at December 31, 2019 and 2018, respectively. Due to the disclaimers on the quotes that indicate that the price is indicative only, the Company includes these fair value estimates in Level 3."
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"text": "Equity Securities - Public Common Stock and Non-Redeemable Preferred Stock"
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"text": "For public common stock and non-redeemable preferred stocks, the Company receives prices from pricing services that are based on observable market transactions and includes these estimates in the amount disclosed in Level 1. When current market quotes in active markets are unavailable for certain non-redeemable preferred stocks held by the Company, the Company receives an estimate of fair value from the pricing services. The services utilize similar methodologies to price the non-redeemable preferred stocks as they do for the fixed maturities. The Company includes the fair value estimate for these non-redeemable preferred stocks in the amount disclosed in Level 2."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-172 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 4. FAIR VALUE MEASUREMENTS (Continued) Other Investments The Company holds investments in various publicly-traded securities which are reported in other investments. These investments include mutual funds and other small holdings. The $16 million fair value of these investments at both December 31, 2019 and 2018 was disclosed in Level 1. At December 31, 2019 and 2018, the Company held investments in non-public common and preferred equity securities, with fair value estimates of $20 million and $36 million, respectively, reported in other investments, where the fair value estimate is determined either internally or by an external fund manager based on recent filings, operating results, balance sheet stability, growth and other business and market sector fundamentals. Due to the significant unobservable inputs in these valuations, the Company includes the total fair value estimate for all of these investments at December 31, 2019 and 2018 in the amount disclosed in Level 3. Other Liabilities The Company has a put/call option that was entered into in connection with a business acquisition that allows the Company to acquire the remaining shares of the acquired company at a future date. The fair value of the put/call at December 31, 2019 and 2018 was $8 million and $10 million, respectively, and was determined using an internal model and is based on the acquired company's financial performance, adjusted for a risk margin and discounted to present value. The Company includes the fair value estimate of the put/call in Level 3. Fair Value Hierarchy The following tables present the level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured on a recurring basis. 153 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "FAIR VALUE MEASUREMENTS (Continued)"
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"text": "Other Investments"
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"text": "The Company holds investments in various publicly-traded securities which are reported in other investments. These investments"
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"text": "include mutual funds and other small holdings. The $16 million fair value of these investments at both December 31, 2019 and "
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"text": "2018 was disclosed in Level 1. At December 31, 2019 and 2018, the Company held investments in non-public common and "
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"text": "preferred equity securities, with fair value estimates of $20 million and $36 million, respectively, reported in other investments, "
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"text": "where the fair value estimate is determined either internally or by an external fund manager based on recent filings, operating"
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"text": "results, balance sheet stability, growth and other business and market sector fundamentals. Due to the significant unobservable "
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"text": "inputs in these valuations, the Company includes the total fair value estimate for all of these investments at December 31, 2019"
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"text": "and 2018 in the amount disclosed in Level 3."
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"text": "Other Liabilities"
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"text": "The Company has a put/call option that was entered into in connection with a business acquisition that allows the Company to "
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"text": "acquire the remaining shares of the acquired company at a future date. The fair value of the put/call at December 31, 2019 and"
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"text": "2018 was $8 million and $10 million, respectively, and was determined using an internal model and is based on the acquired "
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"text": "company's financial performance, adjusted for a risk margin and discounted to present value. The Company includes the fair value "
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"text": "estimate of the put/call in Level 3. "
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"text": "Fair Value Hierarchy"
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"text": "The following tables present the level within the fair value hierarchy at which the Company’s financial assets and financial liabilities "
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"text": "are measured on a recurring basis. "
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"text": "(at December 31, 2019, in millions) "
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"text": "Total "
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"text": "Level 1 "
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"text": "Level 2 "
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"text": "Level 3"
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"text": "Invested assets:"
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"text": "Fixed maturities"
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"text": "U.S. Treasury securities and obligations of U.S."
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"text": "government and government agencies and authorities "
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"text": "$ 2,095 $ 2,095 $ — $ —"
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"text": "Obligations of states, municipalities and political"
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"text": "subdivisions.................................................................. "
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"text": "29,917 "
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"text": "— 29,905 "
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"text": "12"
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"text": "Debt securities issued by foreign governments ............... "
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"text": "1,173 "
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"text": "— 1,173 "
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"text": "—"
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"text": "Mortgage-backed securities, collateralized mortgage"
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"text": "obligations and pass-through securities........................ "
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"text": "3,280 "
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"text": "— 3,280 "
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"text": "—"
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"text": "All other corporate bonds................................................. "
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"text": "31,619 "
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"text": "— 31,530 "
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"text": "89"
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"text": "Redeemable preferred stock............................................. "
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"text": "50—50 —"
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"text": "Total fixed maturities .................................................. "
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"text": "68,134 2,095 65,938 "
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"text": "101"
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"text": "Equity securities"
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"text": "Public common stock ......................................................... "
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"text": "383 "
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"text": "383 "
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"text": "— "
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"text": "Non-redeemable preferred stock ........................................ "
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"text": "42 "
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"text": "13 "
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"text": "Total equity securities ................................................. "
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"text": "425 "
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"text": "396 "
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"text": "29 "
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"text": "Other investments"
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"text": "............................................................. "
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"text": "Total "
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"text": "....................................................................... "
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"text": "$ 68,595 $ 2,507 $ 65,967 $ 121"
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"text": "Other liabilities"
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"text": "................................................................. "
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"text": "$ 8$ —$ —$ 8"
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"label": "section_header",
"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "4. FAIR VALUE MEASUREMENTS (Continued)"
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"text": "Other Investments"
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"text": "The Company holds investments in various publicly-traded securities which are reported in other investments. These investments include mutual funds and other small holdings. The $16 million fair value of these investments at both December 31, 2019 and 2018 was disclosed in Level 1. At December 31, 2019 and 2018, the Company held investments in non-public common and preferred equity securities, with fair value estimates of $20 million and $36 million, respectively, reported in other investments, where the fair value estimate is determined either internally or by an external fund manager based on recent filings, operating results, balance sheet stability, growth and other business and market sector fundamentals. Due to the significant unobservable inputs in these valuations, the Company includes the total fair value estimate for all of these investments at December 31, 2019 and 2018 in the amount disclosed in Level 3."
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"text": "Other Liabilities"
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"text": "The Company has a put/call option that was entered into in connection with a business acquisition that allows the Company to acquire the remaining shares of the acquired company at a future date. The fair value of the put/call at December 31, 2019 and 2018 was $8 million and $10 million, respectively, and was determined using an internal model and is based on the acquired company's financial performance, adjusted for a risk margin and discounted to present value. The Company includes the fair value estimate of the put/call in Level 3."
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"text": "Fair Value Hierarchy"
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"text": "The following tables present the level within the fair value hierarchy at which the Company's financial assets and financial liabilities are measured on a recurring basis."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-173 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 4. FAIR VALUE MEASUREMENTS (Continued) The following tables present the changes in the Level 3 fair value category for the years ended December 31, 2019 and 2018. ___________________________________________ (1) Includes impairments on investments held at the end of the period as well as amortization on fixed maturities. The Company also includes in Level 3 the put/call option entered into in connection with a business acquisition that is reported in other liabilities and had a fair value of $8 million at December 31, 2019. 154 | [
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"text": "FAIR VALUE MEASUREMENTS (Continued)"
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"text": "(at December 31, 2018, in millions) "
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"text": "Invested assets:"
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"text": "Fixed maturities"
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"text": "U.S. Treasury securities and obligations of U.S."
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"text": "government and government agencies and authorities "
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"text": "$ 2,064 $ 2,064 $ — $ —"
},
{
"bbox": [
0.09632323807738846,
0.2030723236635982,
0.4157373704492845,
0.2143889828861838
],
"ocr": false,
"ocr_confidence": 1,
"text": "Obligations of states, municipalities and political"
},
{
"bbox": [
0.1113631380126131,
0.2156421750090843,
0.4627317691892887,
0.22437722060723514
],
"ocr": false,
"ocr_confidence": 1,
"text": "subdivisions.................................................................. "
},
{
"bbox": [
0.5309452866062974,
0.21425106235868863,
0.5736154883798926,
0.22460275102955427
],
"ocr": false,
"ocr_confidence": 1,
"text": "28,611 "
},
{
"bbox": [
0.6736365424262153,
0.2142135265261628,
0.8000631621389678,
0.22460275102955427
],
"ocr": false,
"ocr_confidence": 1,
"text": "— 28,599 "
},
{
"bbox": [
0.8988757406420981,
0.2143764446564115,
0.9129684910629735,
0.22282318982659077
],
"ocr": false,
"ocr_confidence": 1,
"text": "12"
},
{
"bbox": [
0.09609458743522464,
0.23193414574753715,
0.4627317691892887,
0.24322580736736918
],
"ocr": false,
"ocr_confidence": 1,
"text": "Debt securities issued by foreign governments ............... "
},
{
"bbox": [
0.5404329653139468,
0.2330119603672077,
0.5745299368193655,
0.24340118487059917
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,257 "
},
{
"bbox": [
0.6736364910498212,
0.2330119603672077,
0.7998834988886259,
0.24340118487059917
],
"ocr": false,
"ocr_confidence": 1,
"text": "— 1,257 "
},
{
"bbox": [
0.8989900017426873,
0.23848856450359335,
0.9114171294652251,
0.23910262233527133
],
"ocr": false,
"ocr_confidence": 1,
"text": "—"
},
{
"bbox": [
0.09601287970237861,
0.2506950437560562,
0.43828898728495896,
0.2620117029786418
],
"ocr": false,
"ocr_confidence": 1,
"text": "Mortgage-backed securities, collateralized mortgage"
},
{
"bbox": [
0.1109384607385706,
0.26322735926901647,
0.46273166643650043,
0.2745440184916021
],
"ocr": false,
"ocr_confidence": 1,
"text": "obligations and pass-through securities........................ "
},
{
"bbox": [
0.5391101772937711,
0.2643427097212129,
0.5742686364787195,
0.27473193422460435
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,573 "
},
{
"bbox": [
0.673636439673427,
0.2643427097212129,
0.8002590089534669,
0.27473193422460435
],
"ocr": false,
"ocr_confidence": 1,
"text": "— 2,554 "
},
{
"bbox": [
0.8988756378893098,
0.26451816608123385,
0.9127397633562184,
0.2732280563630491
],
"ocr": false,
"ocr_confidence": 1,
"text": "19"
},
{
"bbox": [
0.09607813414499816,
0.2820257931100614,
0.4627022277626526,
0.29334245233264694
],
"ocr": false,
"ocr_confidence": 1,
"text": "All other corporate bonds................................................. "
},
{
"bbox": [
0.530945132477115,
0.2833041405492975,
0.5747257836338647,
0.29353044692244024
],
"ocr": false,
"ocr_confidence": 1,
"text": "28,880 "
},
{
"bbox": [
0.6736363882970329,
0.28314122241904877,
0.7996873951921559,
0.29353044692244024
],
"ocr": false,
"ocr_confidence": 1,
"text": "— 28,725 "
},
{
"bbox": [
0.8907105930726537,
0.28314122241904877,
0.9123640991621949,
0.2918761891604086
],
"ocr": false,
"ocr_confidence": 1,
"text": "155"
},
{
"bbox": [
0.09601275126139323,
0.30082430580789726,
0.4627348003965436,
0.3121409650304829
],
"ocr": false,
"ocr_confidence": 1,
"text": "Redeemable preferred stock............................................. "
},
{
"bbox": [
0.5593592068964384,
0.30211511262011465,
0.5747093945641308,
0.31082500290192994
],
"ocr": false,
"ocr_confidence": 1,
"text": "79 "
},
{
"bbox": [
0.6805765685007629,
0.30206495970102554,
0.6869452376959702,
0.31062454893915536
],
"ocr": false,
"ocr_confidence": 1,
"text": "3 "
},
{
"bbox": [
0.7847127689656986,
0.30197719209261953,
0.8001935554273201,
0.3106746230014535
],
"ocr": false,
"ocr_confidence": 1,
"text": "76 "
},
{
"bbox": [
0.898989898989899,
0.30741626039647935,
0.9114170267124369,
0.3080303182281573
],
"ocr": false,
"ocr_confidence": 1,
"text": "—"
},
{
"bbox": [
0.11565771648779462,
0.31962273964894217,
0.4627348003965436,
0.3283953210796189
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total fixed maturities .................................................. "
},
{
"bbox": [
0.5310103804976852,
0.32077562593366443,
0.7989687935671822,
0.33112731460453004
],
"ocr": false,
"ocr_confidence": 1,
"text": "63,464 2,067 61,211 "
},
{
"bbox": [
0.8907105930726537,
0.32077562593366443,
0.9128703621501473,
0.3294730568424984
],
"ocr": false,
"ocr_confidence": 1,
"text": "186"
},
{
"bbox": [
0.08629638337928439,
0.3381579495215601,
0.20219015513204966,
0.3493868805641352
],
"ocr": false,
"ocr_confidence": 1,
"text": "Equity securities"
},
{
"bbox": [
0.08629638337928439,
0.35596637577973594,
0.46273474902014944,
0.36473899663880816
],
"ocr": false,
"ocr_confidence": 1,
"text": "Public common stock ......................................................... "
},
{
"bbox": [
0.5515697748974117,
0.3571193409212492,
0.5748399419816657,
0.36581673240168766
],
"ocr": false,
"ocr_confidence": 1,
"text": "316 "
},
{
"bbox": [
0.6642465302438447,
0.3571193409212492,
0.6875166973280987,
0.36581673240168766
],
"ocr": false,
"ocr_confidence": 1,
"text": "316 "
},
{
"bbox": [
0.7863130408906777,
0.3625583697967135,
0.7987401686132155,
0.36317242762839147
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.8989897962371107,
0.3625583697967135,
0.9114169239596486,
0.36317242762839147
],
"ocr": false,
"ocr_confidence": 1,
"text": "—"
},
{
"bbox": [
0.08621473344488176,
0.37476480962078085,
0.4627348003965436,
0.3860814688433664
],
"ocr": false,
"ocr_confidence": 1,
"text": "Non-redeemable preferred stock ........................................ "
},
{
"bbox": [
0.5595551050873316,
0.37588016007297725,
0.5749379681417035,
0.38461516624273256
],
"ocr": false,
"ocr_confidence": 1,
"text": "52 "
},
{
"bbox": [
0.6724115236841067,
0.37600550294230456,
0.6874023848511153,
0.3845901292115835
],
"ocr": false,
"ocr_confidence": 1,
"text": "30 "
},
{
"bbox": [
0.7848759917699126,
0.3760430782032259,
0.8002915302109638,
0.3844898628018007
],
"ocr": false,
"ocr_confidence": 1,
"text": "22 "
},
{
"bbox": [
0.8989897962371107,
0.3813568036377584,
0.9114169239596486,
0.3819708614694364
],
"ocr": false,
"ocr_confidence": 1,
"text": "—"
},
{
"bbox": [
0.11565765226730193,
0.39356324346182575,
0.46273474902014944,
0.40489244091418364
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total equity securities ................................................. "
},
{
"bbox": [
0.5515697748974117,
0.3947162480317345,
0.5743990297670718,
0.40341363951217296
],
"ocr": false,
"ocr_confidence": 1,
"text": "368 "
},
{
"bbox": [
0.6642465302438447,
0.3947162480317345,
0.6875166973280987,
0.40341363951217296
],
"ocr": false,
"ocr_confidence": 1,
"text": "346 "
},
{
"bbox": [
0.7848759917699126,
0.39484155147266636,
0.8002915302109638,
0.4032883360712411
],
"ocr": false,
"ocr_confidence": 1,
"text": "22 "
},
{
"bbox": [
0.8989897962371107,
0.4001552769071988,
0.9114169239596486,
0.40076933473887677
],
"ocr": false,
"ocr_confidence": 1,
"text": "—"
},
{
"bbox": [
0.08655766445378262,
0.41209853219123466,
0.21382037076083096,
0.4209964564912387
],
"ocr": false,
"ocr_confidence": 1,
"text": "Other investments"
},
{
"bbox": [
0.21597264350865425,
0.4197181879087936,
0.46273474902014944,
0.42109672290102146
],
"ocr": false,
"ocr_confidence": 1,
"text": "............................................................. "
},
{
"bbox": [
0.5595551564637258,
0.41347710661185805,
0.5749380195180976,
0.42221211278161336
],
"ocr": false,
"ocr_confidence": 1,
"text": "52 "
},
{
"bbox": [
0.6735219730672611,
0.4135147213011749,
0.6875167487044929,
0.42221211278161336
],
"ocr": false,
"ocr_confidence": 1,
"text": "16 "
},
{
"bbox": [
0.7863130922670718,
0.4189537501766392,
0.7987402199896096,
0.41956780800831717
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.8977651885061553,
0.4135147213011749,
0.9128703621501473,
0.42221211278161336
],
"ocr": false,
"ocr_confidence": 1,
"text": "36"
},
{
"bbox": [
0.13543331261837122,
0.43108500005046835,
0.17033044577447654,
0.4397322780402132
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total "
},
{
"bbox": [
0.1751477919042311,
0.438516661178234,
0.4627348003965436,
0.4398951961704619
],
"ocr": false,
"ocr_confidence": 1,
"text": "....................................................................... "
},
{
"bbox": [
0.4803058354541509,
0.43177424783238455,
0.9129682855573968,
0.4426648438130854
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 63,884 $ 2,429 $ 61,233 $ 222"
},
{
"bbox": [
0.0865577286742753,
0.46849387314276486,
0.19464902524594907,
0.4773917974427689
],
"ocr": false,
"ocr_confidence": 1,
"text": "Other liabilities"
},
{
"bbox": [
0.19964275938091855,
0.4761135288603238,
0.4627348517729377,
0.47749206385255166
],
"ocr": false,
"ocr_confidence": 1,
"text": "................................................................. "
},
{
"bbox": [
0.4803058354541509,
0.46937115494286985,
0.9127561010495581,
0.47957246371325907
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 10 $ — $ — $ 10"
},
{
"bbox": [
0.08136480825918692,
0.5051884614219961,
0.8982714514941077,
0.516517658874354
],
"ocr": false,
"ocr_confidence": 1,
"text": "The following tables present the changes in the Level 3 fair value category for the years ended December 31, 2019 and 2018."
},
{
"bbox": [
0.08663629602502894,
0.556041944242571,
0.1525179031320694,
0.5646842148260861
],
"ocr": false,
"ocr_confidence": 1,
"text": "(in millions)"
},
{
"bbox": [
0.6249634200073653,
0.5460461756979772,
0.6556637953427504,
0.553104371063469
],
"ocr": false,
"ocr_confidence": 1,
"text": "Fixed"
},
{
"bbox": [
0.6112201318194971,
0.5560720281083454,
0.6694723829275832,
0.5631302234738372
],
"ocr": false,
"ocr_confidence": 1,
"text": "Maturities"
},
{
"bbox": [
0.7369478270662353,
0.5460461756979772,
0.7696339000355114,
0.5531644993666223
],
"ocr": false,
"ocr_confidence": 1,
"text": "Other"
},
{
"bbox": [
0.7195073908025568,
0.5560720281083454,
0.8797317659011995,
0.5631402382862968
],
"ocr": false,
"ocr_confidence": 1,
"text": "Investments Total"
},
{
"bbox": [
0.08631296511049624,
0.5715218871754886,
0.5754118126249473,
0.5818986523058988
],
"ocr": false,
"ocr_confidence": 1,
"text": "Balance at December 31, 2018 ...................................................................... "
},
{
"bbox": [
0.5927378850352483,
0.5718352246346091,
0.9130338418363321,
0.5824751348766554
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 186 $ 36 $ 222"
},
{
"bbox": [
0.08626397129662511,
0.5903203210165334,
0.4468819460884891,
0.601636980239119
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total realized and unrealized investment gains (losses):"
},
{
"bbox": [
0.0960129631890191,
0.6091187942859738,
0.3659309875282776,
0.6204354535085594
],
"ocr": false,
"ocr_confidence": 1,
"text": "Reported in net realized investment gains "
},
{
"bbox": [
0.37112226389875314,
0.6065320549701227,
0.38250100492226957,
0.6134805999677002
],
"ocr": false,
"ocr_confidence": 1,
"text": "(1)"
},
{
"bbox": [
0.3858045584424979,
0.6164753837486878,
0.5754118126249473,
0.6178539187409157
],
"ocr": false,
"ocr_confidence": 1,
"text": "............................................... "
},
{
"bbox": [
0.6736364910498212,
0.6102342630233567,
0.9128541272095959,
0.619006883882429
],
"ocr": false,
"ocr_confidence": 1,
"text": "—33"
},
{
"bbox": [
0.09601296961106837,
0.6279172281270188,
0.5754118126249473,
0.6392338873496043
],
"ocr": false,
"ocr_confidence": 1,
"text": "Reported in increases in other comprehensive income (loss) ..................... "
},
{
"bbox": [
0.6801684858020307,
0.629007620404857,
0.9129684910629735,
0.6376298613634528
],
"ocr": false,
"ocr_confidence": 1,
"text": "4— 4"
},
{
"bbox": [
0.08629663383920586,
0.6467156619680636,
0.3694745715619739,
0.6570924270984738
],
"ocr": false,
"ocr_confidence": 1,
"text": "Purchases, sales and settlements/maturities:"
},
{
"bbox": [
0.09609461312342171,
0.6655642487281976,
0.5754084731593276,
0.6742491414072593
],
"ocr": false,
"ocr_confidence": 1,
"text": "Purchases ..................................................................................................... "
},
{
"bbox": [
0.6719545820345381,
0.6666044092301558,
0.6875333432798032,
0.6754021065487726
],
"ocr": false,
"ocr_confidence": 1,
"text": "38 "
},
{
"bbox": [
0.7929923317649148,
0.6666044092301558,
0.8002918384693287,
0.6753895683190003
],
"ocr": false,
"ocr_confidence": 1,
"text": "6 "
},
{
"bbox": [
0.8973571571838174,
0.6666044092301558,
0.9129685938157618,
0.6752266501887516
],
"ocr": false,
"ocr_confidence": 1,
"text": "44"
},
{
"bbox": [
0.09651922617697153,
0.684312569078549,
0.5754085245357218,
0.6930601134780765
],
"ocr": false,
"ocr_confidence": 1,
"text": "Sales............................................................................................................. "
},
{
"bbox": [
0.6751552800136784,
0.6852650211146943,
0.6926446779809817,
0.696130520921653
],
"ocr": false,
"ocr_confidence": 1,
"text": "(1) "
},
{
"bbox": [
0.7796669905434553,
0.6852650211146943,
0.8053213819510207,
0.696130520921653
],
"ocr": false,
"ocr_confidence": 1,
"text": "(25) "
},
{
"bbox": [
0.8923437458898885,
0.6852650211146943,
0.9179981372974537,
0.696130520921653
],
"ocr": false,
"ocr_confidence": 1,
"text": "(26)"
},
{
"bbox": [
0.09651910415803543,
0.7031110029195938,
0.5754084217829335,
0.7119086805240128
],
"ocr": false,
"ocr_confidence": 1,
"text": "Settlements/maturities ................................................................................. "
},
{
"bbox": [
0.666990132444234,
0.704063474669937,
0.7988382975260416,
0.7149289744768956
],
"ocr": false,
"ocr_confidence": 1,
"text": "(19) — "
},
{
"bbox": [
0.8923437458898885,
0.704063474669937,
0.9179980345446654,
0.7149289744768956
],
"ocr": false,
"ocr_confidence": 1,
"text": "(19)"
},
{
"bbox": [
0.08642714914649424,
0.7219094564748365,
0.5754116584957649,
0.7306820773339087
],
"ocr": false,
"ocr_confidence": 1,
"text": "Gross transfers into Level 3 ........................................................................... "
},
{
"bbox": [
0.6736364910498212,
0.728225826292999,
0.9115151556252631,
0.7293662729189377
],
"ocr": false,
"ocr_confidence": 1,
"text": "———"
},
{
"bbox": [
0.08642727116543035,
0.7407078706016836,
0.5754118126249473,
0.7494804914607558
],
"ocr": false,
"ocr_confidence": 1,
"text": "Gross transfers out of Level 3........................................................................ "
},
{
"bbox": [
0.6588252417567603,
0.7416603423520268,
0.79883840027883,
0.7525258224447876
],
"ocr": false,
"ocr_confidence": 1,
"text": "(107) — "
},
{
"bbox": [
0.8841788038260207,
0.7416603423520268,
0.9179981372974537,
0.7525258224447876
],
"ocr": false,
"ocr_confidence": 1,
"text": "(107)"
},
{
"bbox": [
0.11570683232060185,
0.7595063241569263,
0.5754117098721591,
0.7698830695731387
],
"ocr": false,
"ocr_confidence": 1,
"text": "Balance at December 31, 2019 ............................................................... "
},
{
"bbox": [
0.5927378336588541,
0.7598196419018491,
0.9124458903816814,
0.7704595521438954
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 101 $ 20 $ 121"
},
{
"bbox": [
0.0862802383474228,
0.7783047777121689,
0.5675569784761679,
0.7896214566489522
],
"ocr": false,
"ocr_confidence": 1,
"text": "Amount of total realized investment gains (losses) for the period included"
},
{
"bbox": [
0.1010588572081492,
0.7908370735109315,
0.5530070295237531,
0.8021537524477148
],
"ocr": false,
"ocr_confidence": 1,
"text": "in the consolidated statement of income attributable to changes in the"
},
{
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"text": "4. FAIR VALUE MEASUREMENTS (Continued)"
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"text": "............................................... "
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"text": "Gross transfers into Level 3 ........................................................................... "
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"text": "11 "
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"text": "Gross transfers out of Level 3........................................................................ "
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"text": "(91) — "
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"text": "Balance at December 31, 2018 ............................................................... "
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"text": "$ 186 $ 36 $ 222"
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"text": "Amount of total realized investment gains (losses) for the period included"
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"text": "in the consolidated statement of income attributable to changes in the"
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"text": "fair value of assets still held at the reporting date ...................................... "
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"text": "$ —$ —$ —"
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"text": "(1) Includes impairments on investments held at the end of the period as well as amortization on fixed maturities."
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"text": "The Company also includes in Level 3 the put/call option entered into in connection with a business acquisition that is reported "
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"text": "in other liabilities and had a fair value of $10 million at December 31, 2018. "
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"text": "The following tables present the carrying value and fair value of the Company’s financial assets and financial liabilities disclosed, "
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"text": "but not carried, at fair value, and the level within the fair value hierarchy at which such assets and liabilities are categorized."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-175 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 5. REINSURANCE The Company's consolidated financial statements reflect the effects of assumed and ceded reinsurance transactions. Assumed reinsurance refers to the acceptance of certain insurance risks that other insurance companies have underwritten. Ceded reinsurance involves transferring certain insurance risks (along with the related written and earned premiums) the Company has underwritten to other insurance companies who agree to share these risks. The primary purpose of ceded reinsurance is to protect the Company , at a cost, from losses in excess of the amount it is prepared to accept and to protect the Company's capital. Reinsurance is placed on both a quota-share and excess-of-loss basis. Ceded reinsurance arrangements do not discharge the Company as the primary insurer, except for instances where the primary policy or policies have been novated, such as in certain structured settlement agreements. The Company utilizes a corporate catastrophe excess-of-loss reinsurance treaty with unaffiliated reinsurers to manage its exposure to losses resulting from catastrophes and to protect its capital. In addition to the coverage provided under this treaty, the Company also utilizes a reinsurance agreement entered into in connection with catastrophe bonds issued by Long Point Re III to protect against certain weather-related and earthquake losses in the Northeastern United States, a Northeast property catastrophe excessof-loss reinsurance treaty to protect against losses resulting from weather-related and earthquake catastrophes in the Northeastern United States and an underlying property aggregate catastrophe excess-of-loss reinsurance treaty to protect against the accumulation of certain property losses in North America. The Company also utilizes excess-of-loss treaties to protect against earthquake losses up to a certain threshold in Business Insurance (for certain markets) and for Personal Insurance, and several reinsurance treaties specific to its international operations. The Company monitors the financial condition of its reinsurers under voluntary reinsurance arrangements to evaluate the collectability of amounts due from reinsurers and as a basis for determining the reinsurers with which the Company conducts ongoing business. In addition, in the ordinary course of business, the Company may become involved in coverage disputes with its reinsurers. Some of these disputes could result in lawsuits and arbitrations brought by or against the reinsurers to determine the Company's rights and obligations under the various reinsurance agreements. The Company employs dedicated specialists and strategies to manage reinsurance collections and disputes. Included in reinsurance recoverables are amounts related to involuntary reinsurance arrangements. The Company is required to participate in various involuntary reinsurance arrangements through assumed reinsurance, principally with regard to residual market mechanisms in workers' compensation and automobile insurance, as well as homeowners' insurance in certain coastal areas. In addition, the Company provides services for several of these involuntary arrangements (mandatory pools and associations) under which it writes such residual market business directly, then cedes 100% of this business to the mandatory pool. Such participations and servicing arrangements are arranged to mitigate credit risk to the Company, as any ceded balances are jointly backed by all the pool members. Also included in reinsurance recoverables are amounts related to certain structured settlements. Structured settlements are annuities purchased from various life insurance companies to settle certain personal physical injury claims, of which workers' compensation claims comprise a significant portion. In cases where the Company did not receive a release from the claimant, the structured settlement is included in reinsurance recoverables and the related claim cost is included in the liability for claims and claim adjustment expense reserves, as the Company retains the contingent liability to the claimant. If it is expected that the life insurance company is not able to pay, the Company would recognize an impairment of the related reinsurance recoverable if, and to the extent, the purchased annuities are not covered by state guaranty associations. In the event that the life insurance company fafails to make the required annuity payments, the Company would be required to make such payments. 156 | [
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"text": "to other insurance companies who agree to share these risks. The primary purpose of ceded reinsurance is to protect the Company"
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"text": "at a cost, from losses in excess of the amount it is prepared to accept and to protect the Company’s capital. Reinsurance is placed "
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"text": "The Company utilizes a corporate catastrophe excess-of-loss reinsurance treaty with unaffiliated reinsurers to manage its exposure "
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"text": "to losses resulting from catastrophes and to protect its capital. In addition to the coverage provided under this treaty, the Company "
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"text": "also utilizes a reinsurance agreement entered into in connection with catastrophe bonds issued by Long Point Re III to protect "
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"text": "against certain weather-related and earthquake losses in the Northeastern United States, a Northeast property catastrophe excess\u0002"
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"text": "United States and an underlying property aggregate catastrophe excess-of-loss reinsurance treaty to protect against the accumulation "
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"text": "of certain property losses in North America. The Company also utilizes excess-of-loss treaties to protect against earthquake losses "
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"text": "up to a certain threshold in Business Insurance (for certain markets) and for Personal Insurance, and several reinsurance treaties "
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"text": "specific to its international operations."
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"text": "collectability of amounts due from reinsurers and as a basis for determining the reinsurers with which the Company conducts "
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"text": "ongoing business. In addition, in the ordinary course of business, the Company may become involved in coverage disputes with "
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"text": "its reinsurers. Some of these disputes could result in lawsuits and arbitrations brought by or against the reinsurers to determine "
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"text": "the Company’s rights and obligations under the various reinsurance agreements. The Company employs dedicated specialists and "
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"text": "Included in reinsurance recoverables are amounts related to involuntary reinsurance arrangements. The Company is required to "
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"text": "participate in various involuntary reinsurance arrangements through assumed reinsurance, principally with regard to residual market "
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"text": "mechanisms in workers’ compensation and automobile insurance, as well as homeowners’ insurance in certain coastal areas. In "
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"text": "which it writes such residual market business directly, then cedes 100% of this business to the mandatory pool. Such participations "
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"text": "and servicing arrangements are arranged to mitigate credit risk to the Company, as any ceded balances are jointly backed by all"
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"text": "the pool members."
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"text": "Also included in reinsurance recoverables are amounts related to certain structured settlements. Structured settlements are annuities "
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"text": "purchased from various life insurance companies to settle certain personal physical injury claims, of which workers’ compensation "
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"text": "adjustment expense reserves, as the Company retains the contingent liability to the claimant. If it is expected that the life insurance "
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"text": "company is not able to pay, the Company would recognize an impairment of the related reinsurance recoverable if, and to the "
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"text": "extent, the purchased annuities are not covered by state guaranty associations. In the event that the life insurance company fafails "
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "5. REINSURANCE"
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"text": "The Company's consolidated financial statements reflect the effects of assumed and ceded reinsurance transactions. Assumed reinsurance refers to the acceptance of certain insurance risks that other insurance companies have underwritten. Ceded reinsurance involves transferring certain insurance risks (along with the related written and earned premiums) the Company has underwritten to other insurance companies who agree to share these risks. The primary purpose of ceded reinsurance is to protect the Company , at a cost, from losses in excess of the amount it is prepared to accept and to protect the Company's capital. Reinsurance is placed on both a quota-share and excess-of-loss basis. Ceded reinsurance arrangements do not discharge the Company as the primary insurer, except for instances where the primary policy or policies have been novated, such as in certain structured settlement agreements."
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"text": "The Company utilizes a corporate catastrophe excess-of-loss reinsurance treaty with unaffiliated reinsurers to manage its exposure to losses resulting from catastrophes and to protect its capital. In addition to the coverage provided under this treaty, the Company also utilizes a reinsurance agreement entered into in connection with catastrophe bonds issued by Long Point Re III to protect against certain weather-related and earthquake losses in the Northeastern United States, a Northeast property catastrophe excessof-loss reinsurance treaty to protect against losses resulting from weather-related and earthquake catastrophes in the Northeastern United States and an underlying property aggregate catastrophe excess-of-loss reinsurance treaty to protect against the accumulation of certain property losses in North America. The Company also utilizes excess-of-loss treaties to protect against earthquake losses up to a certain threshold in Business Insurance (for certain markets) and for Personal Insurance, and several reinsurance treaties specific to its international operations."
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"text": "The Company monitors the financial condition of its reinsurers under voluntary reinsurance arrangements to evaluate the collectability of amounts due from reinsurers and as a basis for determining the reinsurers with which the Company conducts ongoing business. In addition, in the ordinary course of business, the Company may become involved in coverage disputes with its reinsurers. Some of these disputes could result in lawsuits and arbitrations brought by or against the reinsurers to determine the Company's rights and obligations under the various reinsurance agreements. The Company employs dedicated specialists and strategies to manage reinsurance collections and disputes."
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"text": "Included in reinsurance recoverables are amounts related to involuntary reinsurance arrangements. The Company is required to participate in various involuntary reinsurance arrangements through assumed reinsurance, principally with regard to residual market mechanisms in workers' compensation and automobile insurance, as well as homeowners' insurance in certain coastal areas. In addition, the Company provides services for several of these involuntary arrangements (mandatory pools and associations) under which it writes such residual market business directly, then cedes 100% of this business to the mandatory pool. Such participations and servicing arrangements are arranged to mitigate credit risk to the Company, as any ceded balances are jointly backed by all the pool members."
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"text": "Also included in reinsurance recoverables are amounts related to certain structured settlements. Structured settlements are annuities purchased from various life insurance companies to settle certain personal physical injury claims, of which workers' compensation claims comprise a significant portion. In cases where the Company did not receive a release from the claimant, the structured settlement is included in reinsurance recoverables and the related claim cost is included in the liability for claims and claim adjustment expense reserves, as the Company retains the contingent liability to the claimant. If it is expected that the life insurance company is not able to pay, the Company would recognize an impairment of the related reinsurance recoverable if, and to the extent, the purchased annuities are not covered by state guaranty associations. In the event that the life insurance company fafails to make the required annuity payments, the Company would be required to make such payments."
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"text": "(for the year ended December 31, in millions) "
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"text": "Total net written premiums.......................................................................... "
},
{
"bbox": [
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"text": "$ 29,151 "
},
{
"bbox": [
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"ocr_confidence": 1,
"text": "$ 27,708 $ 26,219"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Earned premiums"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Direct.............................................................................................................. "
},
{
"bbox": [
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"ocr": false,
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"text": "$ 28,994 "
},
{
"bbox": [
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"text": "$ 27,536 $ 26,189"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Assumed......................................................................................................... "
},
{
"bbox": [
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0.6767553464330808,
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],
"ocr": false,
"ocr_confidence": 1,
"text": "1,076 "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "1,024 "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "965"
},
{
"bbox": [
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"ocr_confidence": 1,
"text": "Ceded ............................................................................................................. "
},
{
"bbox": [
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],
"ocr": false,
"ocr_confidence": 1,
"text": "(1,798) "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "(1,501) "
},
{
"bbox": [
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],
"ocr": false,
"ocr_confidence": 1,
"text": "(1,471)"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Total net earned premiums .......................................................................... "
},
{
"bbox": [
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],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 28,272 "
},
{
"bbox": [
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"text": "$ 27,059 $ 25,683"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Percentage of assumed earned premiums to net earned premiums"
},
{
"bbox": [
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],
"ocr": false,
"ocr_confidence": 1,
"text": "........ "
},
{
"bbox": [
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0.6915011935763888,
0.36823534903908267
],
"ocr": false,
"ocr_confidence": 1,
"text": "3.8% "
},
{
"bbox": [
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0.3595880710493379,
0.9178345548584806,
0.36823534903908267
],
"ocr": false,
"ocr_confidence": 1,
"text": "3.8% 3.8%"
},
{
"bbox": [
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0.4636671278211806,
0.38811155807140263
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"ocr": false,
"ocr_confidence": 1,
"text": "Ceded claims and claim adjustment expenses incurred"
},
{
"bbox": [
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"ocr_confidence": 1,
"text": "........................... "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "$ 1,089 "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "$ 1,293 $ 1,225"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Ceded premiums include the premiums paid for coverage provided by the Company’s catastrophe bonds."
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Reinsurance recoverables include amounts recoverable on both paid and unpaid claims and claim adjustment expenses and were "
},
{
"bbox": [
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],
"ocr": false,
"ocr_confidence": 1,
"text": "as follows:"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "(at December 31, in millions) "
},
{
"bbox": [
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],
"ocr": false,
"ocr_confidence": 1,
"text": "2019 "
},
{
"bbox": [
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],
"ocr": false,
"ocr_confidence": 1,
"text": "2018"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Gross reinsurance recoverables on paid and unpaid claims and claim adjustment expenses ... "
},
{
"bbox": [
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],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 3,476 "
},
{
"bbox": [
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],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 3,485"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Allowance for uncollectible reinsurance ................................................................................... "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "(92) "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "(110)"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Net reinsurance recoverables "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "................................................................................................. "
},
{
"bbox": [
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"text": "3,384 "
},
{
"bbox": [
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],
"ocr": false,
"ocr_confidence": 1,
"text": "3,375"
},
{
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"ocr_confidence": 1,
"text": "Mandatory pools and associations............................................................................................. "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "1,886 "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "2,005"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Structured settlements ........................................................................................................."
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "...... "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "2,965 "
},
{
"bbox": [
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],
"ocr": false,
"ocr_confidence": 1,
"text": "2,990"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Total reinsurance recoverables"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "............................................................................................... "
},
{
"bbox": [
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"ocr_confidence": 1,
"text": "$ 8,235 "
},
{
"bbox": [
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0.6204981840858164
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 8,370"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Terrorism Risk Insurance Program"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "The Terrorism Risk Insurance Program is a Federal program administered by the Department of the Treasury authorized through "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "December 31, 2027 that provides for a system of shared public and private compensation for certain insured losses resulting from "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "certified acts of terrorism."
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "In order for a loss to be covered under the program (subject losses), the loss must meet certain aggregate industry loss minimums "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "and must be the result of an event that is certified as an act of terrorism by the U.S. Secretary of the Treasury, in consultation with "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "the Secretary of Homeland Security and the Attorney General of the United States. The annual aggregate industry loss minimum "
},
{
"bbox": [
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"ocr": false,
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"text": "under the program is $200 million. The program excludes from participation the following types of insurance: Federal crop "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "insurance, private mortgage insurance, financial guaranty insurance, medical malpractice insurance, health or life insurance, flflood "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "insurance, reinsurance, commercial automobile, professional liability (other than directors' and officers’), surety, burglary and "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "theft, and farm-owners multi-peril. In the case of a war declared by Congress, only workers’ compensation losses are covered by "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "the program. All commercial property and casualty insurers licensed in the United States are generally required to participate in "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "the program. Under the program, a participating insurer, in exchange for making terrorism insurance available, is entitled to be "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "reimbursed by the Federal Government for 80% of subject losses, after an insurer deductible, subject to an annual cap. "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "The deductible for any calendar year is equal to 20% of the insurer’s direct earned premiums for covered lines for the preceding "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "calendar year. The Company’s estimated deductible under the program is $2.61 billion for 2020. The annual cap limits the amount "
}
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"index_in_doc": 2351,
"label": "section_header",
"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"label": "section_header",
"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"label": "section_header",
"text": "5. REINSURANCE (Continued)"
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"label": "text",
"text": "The following is a summary of reinsurance financial data reflected in the consolidated statement of income:"
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"html_seq": "<table><tr><td>(for the year ended December 31, in millions)</td><th>2019</th><th>2018 2017</th></tr><tr><td>Written premiums</td><td></td><td></td></tr><tr><td>Direct..............................................................................................................</td><td>$ 30,022</td><td>$ 28,210 $ 26,648</td></tr><tr><td>Assumed.........................................................................................................</td><td>1,041</td><td>1,042 1,000</td></tr><tr><td>Ceded .............................................................................................................</td><td>(1,912)</td><td>(1,544) (1,429)</td></tr><tr><td>Total net written premiums..........................................................................</td><td>$ 29,151</td><td>$ 27,708 $ 26,219</td></tr><tr><td>Earned premiums</td><td></td><td></td></tr><tr><td>Direct..............................................................................................................</td><td>$ 28,994</td><td>$ 27,536 $ 26,189</td></tr><tr><td>Assumed.........................................................................................................</td><td>1,076</td><td>1,024 965</td></tr><tr><td>Ceded .............................................................................................................</td><td>(1,798)</td><td>(1,501) (1,471)</td></tr><tr><td>Total net earned premiums ..........................................................................</td><td>$ 28,272</td><td>$ 27,059 $ 25,683</td></tr><tr><td>Percentage of assumed earned premiums to net earned premiums ........</td><td>3.8%</td><td>3.8% 3.8%</td></tr><tr><td>Ceded claims and claim adjustment expenses incurred ...........................</td><td>$ 1,089</td><td>$ 1,293 $ 1,225</td></tr></table>",
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],
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"label": "table",
"text": ""
},
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"label": "text",
"text": "Ceded premiums include the premiums paid for coverage provided by the Company's catastrophe bonds."
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"label": "text",
"text": "Reinsurance recoverables include amounts recoverable on both paid and unpaid claims and claim adjustment expenses and were as follows:"
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"html_seq": "<table><tr><td>(at December 31, in millions)</td><th>2019</th><th>2018</th></tr><tr><td>Gross reinsurance recoverables on paid and unpaid claims and claim adjustment expenses ...</td><td>$ 3,476</td><td>$ 3,485</td></tr><tr><td>Allowance for uncollectible reinsurance ...................................................................................</td><td>(92)</td><td>(110)</td></tr><tr><td>Net reinsurance recoverables .................................................................................................</td><td>3,384</td><td>3,375</td></tr><tr><td>Mandatory pools and associations.............................................................................................</td><td>1,886</td><td>2,005</td></tr><tr><td>Structured settlements ......................................................................................................... ......</td><td>2,965</td><td>2,990</td></tr><tr><td>Total reinsurance recoverables ...............................................................................................</td><td>$ 8,235</td><td>$ 8,370</td></tr></table>",
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],
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"label": "table",
"text": ""
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"text": "Terrorism Risk Insurance Program"
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"text": "The Terrorism Risk Insurance Program is a Federal program administered by the Department of the Treasury authorized through December 31, 2027 that provides for a system of shared public and private compensation for certain insured losses resulting from certified acts of terrorism."
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"text": "In order for a loss to be covered under the program (subject losses), the loss must meet certain aggregate industry loss minimums and must be the result of an event that is certified as an act of terrorism by the U.S. Secretary of the Treasury, in consultation with the Secretary of Homeland Security and the Attorney General of the United States. The annual aggregate industry loss minimum under the program is $200 million. The program excludes from participation the following types of insurance: Federal crop insurance, private mortgage insurance, financial guaranty insurance, medical malpractice insurance, health or life insurance, flflood insurance, reinsurance, commercial automobile, professional liability (other than directors' and officers'), surety, burglary and theft, and farm-owners multi-peril. In the case of a war declared by Congress, only workers' compensation losses are covered by the program. All commercial property and casualty insurers licensed in the United States are generally required to participate in the program. Under the program, a participating insurer, in exchange for making terrorism insurance available, is entitled to be reimbursed by the Federal Government for 80% of subject losses, after an insurer deductible, subject to an annual cap."
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"text": "The deductible for any calendar year is equal to 20% of the insurer's direct earned premiums for covered lines for the preceding calendar year. The Company's estimated deductible under the program is $2.61 billion for 2020. The annual cap limits the amount"
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] | {
"filename": "NYSE_TRV_2019.pdf",
"page": 176
} |
e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-177 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 5. REINSURANCE (Continued) of aggregate subject losses for all participating insurers to $100 billion. Once subject losses have reached the $100 billion aggregate during a program year, participating insurers will not be liable under the program for additional covered terrorism losses for that program year. There have been no terrorism-related losses that have triggered program coverage since the program was established. Since the law is untested, there is substantial uncertainty as to how it will be applied if an act of terrorism is certified under the program. It is also possible that future legislative action could change or eliminate the program. Further, given the unpredictable frequency and severity of terrorism losses, as well as the limited terrorism coverage in the Company's own reinsurance program, future losses from acts of terrorism, particularly involving nuclear, biological, chemical or radiological events, could be material to the Company's operating results, financial position and/or liquidity in future periods. In addition, the Company may not have sufficient resources to respond to claims arising from a high frequency of high severity natural catastrophes and/or of man-made catastrophic events involving conventional means. While the Company seeks to manage its exposure to man-made catastrophic events involving conventional means, the Company may not have sufficient resources to respond to claims arising out of one or more man-made catastrophic events involving nuclear, biological, chemical or radiological means. 6. GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The following table presents the carrying amount of the Company's goodwill by segment. Each reportable segment includes goodwill associated with the Company's international business which is subject to the impact of changes in foreign currency exchange rates. Other Intangible Assets The following tables present a summary of the Company's other intangible assets by major asset class: 158 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "REINSURANCE (Continued)"
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"text": "of aggregate subject losses for all participating insurers to $100 billion. Once subject losses have reached the $100 billion aggregate "
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"text": "during a program year, participating insurers will not be liable under the program for additional covered terrorism losses for that "
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"text": "program year. There have been no terrorism-related losses that have triggered program coverage since the program was established. "
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"text": "Since the law is untested, there is substantial uncertainty as to how it will be applied if an act of terrorism is certified under the "
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"text": "program. It is also possible that future legislative action could change or eliminate the program. Further, given the unpredictable "
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"text": "frequency and severity of terrorism losses, as well as the limited terrorism coverage in the Company’s own reinsurance program,"
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"text": "future losses from acts of terrorism, particularly involving nuclear, biological, chemical or radiological events, could be material "
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"text": "to the Company’s operating results, financial position and/or liquidity in future periods. In addition, the Company may not have "
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"text": "sufficient resources to respond to claims arising from a high frequency of high severity natural catastrophes and/or of man-made "
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"text": "catastrophic events involving conventional means. While the Company seeks to manage its exposure to man-made catastrophic "
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"text": "events involving conventional means, the Company may not have sufficient resources to respond to claims arising out of one or "
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"text": "more man-made catastrophic events involving nuclear, biological, chemical or radiological means."
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"text": "GOODWILL AND OTHER INTANGIBLE ASSETS"
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"text": "Goodwill"
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"text": "The following table presents the carrying amount of the Company’s goodwill by segment. Each reportable segment includes "
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"text": "goodwill associated with the Company’s international business which is subject to the impact of changes in foreign currency "
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"text": "exchange rates."
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"text": "(at December 31, in millions) "
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"text": "2019 "
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"text": "2018"
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"text": "Business Insurance ............................................................................................................."
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"text": "....... "
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"text": "$ 2,601 "
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"text": "$ 2,585"
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"text": "Bond & Specialty Insurance....................................................................................................."
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"text": ". "
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"text": "550 "
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"text": "Personal Insurance............................................................................................................."
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"text": "........ "
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"text": "784 "
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"text": "Other.........................................................................................................................."
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"text": "................ "
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"text": "26 "
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"text": "Total.........................................................................................................................."
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"text": "............... "
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"text": "$ 3,961 "
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"text": "$ 3,937"
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"text": "Other Intangible Assets"
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"text": "The following tables present a summary of the Company’s other intangible assets by major asset class:"
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"text": "(at December 31, 2019, in millions)"
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"text": "Gross"
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"text": "Carrying"
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"text": "Amount"
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"text": "Accumulated"
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"text": "Amortization "
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"text": "Net"
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"text": "Subject to amortization"
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"text": "Customer-related ......................................................................................... "
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"text": "$ 99 $ 21 $ 78"
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"text": "Contract-based (1)"
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"text": "......................................................................................... "
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"text": "205 "
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"text": "Total subject to amortization..................................................................... "
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"text": "200 "
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"text": "Not subject to amortization"
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"text": "......................................................................... "
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"text": "— "
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "5. REINSURANCE (Continued)"
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"text": "of aggregate subject losses for all participating insurers to $100 billion. Once subject losses have reached the $100 billion aggregate during a program year, participating insurers will not be liable under the program for additional covered terrorism losses for that program year. There have been no terrorism-related losses that have triggered program coverage since the program was established. Since the law is untested, there is substantial uncertainty as to how it will be applied if an act of terrorism is certified under the program. It is also possible that future legislative action could change or eliminate the program. Further, given the unpredictable frequency and severity of terrorism losses, as well as the limited terrorism coverage in the Company's own reinsurance program, future losses from acts of terrorism, particularly involving nuclear, biological, chemical or radiological events, could be material to the Company's operating results, financial position and/or liquidity in future periods. In addition, the Company may not have sufficient resources to respond to claims arising from a high frequency of high severity natural catastrophes and/or of man-made catastrophic events involving conventional means. While the Company seeks to manage its exposure to man-made catastrophic events involving conventional means, the Company may not have sufficient resources to respond to claims arising out of one or more man-made catastrophic events involving nuclear, biological, chemical or radiological means."
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"text": "6. GOODWILL AND OTHER INTANGIBLE ASSETS"
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"text": "Goodwill"
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"text": "The following table presents the carrying amount of the Company's goodwill by segment. Each reportable segment includes goodwill associated with the Company's international business which is subject to the impact of changes in foreign currency exchange rates."
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"text": "Other Intangible Assets"
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"text": "The following tables present a summary of the Company's other intangible assets by major asset class:"
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-178 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 6. GOODWILL AND OTHER INTANGIBLE ASSETS (Continued) ___________________________________________ (1) Contract-based intangible assets subject to amortization are comprised of fair value adjustments on claims and claim adjustment expense reserves, reinsurance recoverables and other contract-related intangible assets. Fair value adjustments recorded in connection with insurance acquisitions were based on management’s estimate of nominal claims and claim adjustment expense reserves and reinsurance recoverables. The method used calculated a risk adjustment to a risk-free discounted reserve that would, if reserves ran off as expected, produce results that yielded the assumed cost-of-capital on the capital supporting the loss reserves. The fair value adjustments are reported as other intangible assets on the consolidated balance sheet, and the amounts measured in accordance with the acquirer’s accounting policies for insurance contracts have been reported as part of the claims and claim adjustment expense reserves and reinsurance recoverables. The intangible assets are being recognized into income over the expected payment pattern. Because the time value of money and the risk adjustment (cost of capital) components of the intangible assets run off at different rates, the amount recognized in income may be a net benefit in some periods and a net expense in other periods. Amortization expense of intangible assets was $15 million, $17 million and $13 million for the years ended December 31, 2019, 2018 and 2017, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $15 million in 2020, $14 million in 2021, $13 million in 2022, $12 million in 2023 and $12 million in 2024. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $5 million in 2020, $4 million in 2021, $3 million in 2022, $3 million in 2023 and $2 million in 2024. 159 | [
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"text": "Customer-related ......................................................................................... "
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"text": "(1)"
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"text": "......................................................................................... "
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"text": "Total subject to amortization..................................................................... "
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"text": "Not subject to amortization"
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"text": "$ 532 $ 187 $ 345"
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"text": "(1) Contract-based intangible assets subject to amortization are comprised of fair value adjustments on claims and claim adjustment expense "
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"text": "reserves, reinsurance recoverables and other contract-related intangible assets. Fair value adjustments recorded in connection with "
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"text": "insurance acquisitions were based on management’s estimate of nominal claims and claim adjustment expense reserves and reinsurance "
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"text": "recoverables. The method used calculated a risk adjustment to a risk-free discounted reserve that would, if reserves ran off as expected, "
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"text": "produce results that yielded the assumed cost-of-capital on the capital supporting the loss reserves. The fair value adjustments are "
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"text": "reported as other intangible assets on the consolidated balance sheet, and the amounts measured in accordance with the acquirer’s "
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"text": "accounting policies for insurance contracts have been reported as part of the claims and claim adjustment expense reserves and "
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"text": "reinsurance recoverables. The intangible assets are being recognized into income over the expected payment pattern. Because the "
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"text": "time value of money and the risk adjustment (cost of capital) components of the intangible assets run off at different rates, the amount "
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"text": "recognized in income may be a net benefit in some periods and a net expense in other periods."
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"text": "Amortization expense of intangible assets was $15 million, $17 million and $13 million for the years ended December 31, 2019, "
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"text": "2018 and 2017, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $15 million"
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"text": "in 2020, $14 million in 2021, $13 million in 2022, $12 million in 2023 and $12 million in 2024. Amortization expense for intangible "
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"text": "assets arising from insurance contracts acquired in a business combination is estimated to be $5 million in 2020, $4 million in"
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"text": ""
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"text": "___________________________________________"
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"text": "(1) Contract-based intangible assets subject to amortization are comprised of fair value adjustments on claims and claim adjustment expense reserves, reinsurance recoverables and other contract-related intangible assets. Fair value adjustments recorded in connection with insurance acquisitions were based on management’s estimate of nominal claims and claim adjustment expense reserves and reinsurance recoverables. The method used calculated a risk adjustment to a risk-free discounted reserve that would, if reserves ran off as expected, produce results that yielded the assumed cost-of-capital on the capital supporting the loss reserves. The fair value adjustments are reported as other intangible assets on the consolidated balance sheet, and the amounts measured in accordance with the acquirer’s accounting policies for insurance contracts have been reported as part of the claims and claim adjustment expense reserves and reinsurance recoverables. The intangible assets are being recognized into income over the expected payment pattern. Because the time value of money and the risk adjustment (cost of capital) components of the intangible assets run off at different rates, the amount recognized in income may be a net benefit in some periods and a net expense in other periods."
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"text": "Amortization expense of intangible assets was $15 million, $17 million and $13 million for the years ended December 31, 2019, 2018 and 2017, respectively. Amortization expense for all intangible assets subject to amortization is estimated to be $15 million in 2020, $14 million in 2021, $13 million in 2022, $12 million in 2023 and $12 million in 2024. Amortization expense for intangible assets arising from insurance contracts acquired in a business combination is estimated to be $5 million in 2020, $4 million in 2021, $3 million in 2022, $3 million in 2023 and $2 million in 2024."
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"text": "159"
}
] | {
"filename": "NYSE_TRV_2019.pdf",
"page": 178
} |
e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-179 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 7. INSURANCE CLAIM RESERVES Claims and claim adjustment expense reserves were as follows: The following table presents a reconciliation of beginning and ending property casualty reserve balances for claims and claim adjustment expenses: Gross claims and claim adjustment expense reserves at December 31, 2019 increased by $1.18 billion over December 31, 2018, primarily reflecting the impacts of higher volumes of insured exposures and loss cost trends for the current accident year. Gross claims and claim adjustment expense reserves at December 31, 2018 increased by $1.02 billion over December 31, 2017, primarily reflecting the impacts of (i) higher volumes of insured exposures and loss cost trends for the current accident year and (ii) catastrophe losses in 2018, partially offset by the impacts of (iii) payments related to catastrophe losses incurred in 2017 and (iv) net fafavorable prior year reserve development. Reinsurance recoverables on unpaid losses at December 31, 2019 decreased by $147 million from December 31, 2018, primarily reflecting a decrease in recoverables related to mandatory pools and associations. Reinsurance recoverables on unpaid losses at December 31, 2018 increased by $59 million over December 31, 2017, primarily reflecting the 2018 impacts of catastrophe losses and the asbestos reserve increase, partially offset by cash collections. The Company continues to evaluate the impact of recent developments on the estimated realizable value of its subrogation claims related to the 2017 and 2018 California wildfires. Recent developments include (i) the approval of Restructuring Support Agreements (RSAs) by the United States Bankruptcy Court reflecting the settlement of subrogation claims and individual wildfire victim claims against Pacific Gas & Electric Company (PG&E) and a settlement between bondholders and PG&E, and (ii) objections to PG&E's plan of reorganization raised by the Governor of California and others. The RSAs may be terminated if PG&E's plan 160 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "7. "
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"text": "INSURANCE CLAIM RESERVES"
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"text": "Claims and claim adjustment expense reserves were as follows:"
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"text": "(at December 31, in millions) "
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"text": "2019 "
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"text": "2018"
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"text": "Property-casualty.............................................................................................................."
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"text": "......... "
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"text": "$ 51,836 "
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"text": "$ 50,653"
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"text": "Accident and health ............................................................................................................"
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"text": "....... "
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"text": "13 "
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"text": "15"
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"text": "Total.........................................................................................................................."
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"text": "............... "
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"text": "$ 51,849 "
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"text": "$ 50,668"
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"text": "The following table presents a reconciliation of beginning and ending property casualty reserve balances for claims and claim "
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"text": "adjustment expenses:"
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"text": "(at and for the year ended December 31, in millions) "
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"text": "2019 "
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"text": "2018 "
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"text": "2017"
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"text": "Claims and claim adjustment expense reserves at beginning of year............ "
},
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"text": "$ 50,653 "
},
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"text": "$ 49,633 $ 47,929"
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"text": "Less reinsurance recoverables on unpaid losses ............................................ "
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"text": "8,182 "
},
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"text": "8,123 7,981"
},
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"text": "Net reserves at beginning of year ........................................................... "
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"text": "42,471 "
},
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"text": "41,510 39,948"
},
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"text": "Estimated claims and claim adjustment expenses for claims arising in the"
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"text": "current year................................................................................................. "
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"text": "18,854 "
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"text": "18,614 17,846"
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"ocr": false,
"ocr_confidence": 1,
"text": "Estimated increase (decrease) in claims and claim adjustment expenses for"
},
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"ocr_confidence": 1,
"text": "claims arising in prior years ....................................................................... "
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"bbox": [
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"text": "164 "
},
{
"bbox": [
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"text": "(406) "
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"text": "(458)"
},
{
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"text": "Total increases ........................................................................................ "
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"text": "19,018 "
},
{
"bbox": [
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"text": "18,208 17,388"
},
{
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"ocr": false,
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"text": "Claims and claim adjustment expense payments for claims arising in:"
},
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"ocr_confidence": 1,
"text": "Current year................................................................................................. "
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"bbox": [
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"text": "7,734 "
},
{
"bbox": [
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"text": "7,697 7,335"
},
{
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"text": "Prior years.................................................................................................... "
},
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"bbox": [
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"ocr_confidence": 1,
"text": "10,060 "
},
{
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],
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"ocr_confidence": 1,
"text": "9,363 8,708"
},
{
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"ocr_confidence": 1,
"text": "Total payments........................................................................................ "
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"text": "17,794 "
},
{
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"ocr_confidence": 1,
"text": "17,060 16,043"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "Unrealized foreign exchange loss (gain)........................................................ "
},
{
"bbox": [
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"ocr_confidence": 1,
"text": "106 "
},
{
"bbox": [
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"ocr_confidence": 1,
"text": "(187) "
},
{
"bbox": [
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"ocr_confidence": 1,
"text": "217"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "Net reserves at end of year...................................................................... "
},
{
"bbox": [
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"ocr_confidence": 1,
"text": "43,801 "
},
{
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"text": "42,471 41,510"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Plus reinsurance recoverables on unpaid losses............................................. "
},
{
"bbox": [
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"ocr_confidence": 1,
"text": "8,035 "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "8,182 8,123"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Claims and claim adjustment expense reserves at end of year ...................... "
},
{
"bbox": [
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"ocr": false,
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"text": "$ 51,836 "
},
{
"bbox": [
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"text": "$ 50,653 $ 49,633"
},
{
"bbox": [
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"ocr": false,
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"text": "Gross claims and claim adjustment expense reserves at December 31, 2019 increased by $1.18 billion over December 31, 2018, "
},
{
"bbox": [
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"ocr": false,
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"text": "primarily reflecting the impacts of higher volumes of insured exposures and loss cost trends for the current accident year. Gross "
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"text": "reflecting a decrease in recoverables related to mandatory pools and associations. Reinsurance recoverables on unpaid losses at "
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "7. INSURANCE CLAIM RESERVES"
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"text": "Gross claims and claim adjustment expense reserves at December 31, 2019 increased by $1.18 billion over December 31, 2018, primarily reflecting the impacts of higher volumes of insured exposures and loss cost trends for the current accident year. Gross claims and claim adjustment expense reserves at December 31, 2018 increased by $1.02 billion over December 31, 2017, primarily reflecting the impacts of (i) higher volumes of insured exposures and loss cost trends for the current accident year and (ii) catastrophe losses in 2018, partially offset by the impacts of (iii) payments related to catastrophe losses incurred in 2017 and (iv) net fafavorable prior year reserve development."
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"text": "Reinsurance recoverables on unpaid losses at December 31, 2019 decreased by $147 million from December 31, 2018, primarily reflecting a decrease in recoverables related to mandatory pools and associations. Reinsurance recoverables on unpaid losses at December 31, 2018 increased by $59 million over December 31, 2017, primarily reflecting the 2018 impacts of catastrophe losses and the asbestos reserve increase, partially offset by cash collections."
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"text": "The Company continues to evaluate the impact of recent developments on the estimated realizable value of its subrogation claims related to the 2017 and 2018 California wildfires. Recent developments include (i) the approval of Restructuring Support Agreements (RSAs) by the United States Bankruptcy Court reflecting the settlement of subrogation claims and individual wildfire victim claims against Pacific Gas & Electric Company (PG&E) and a settlement between bondholders and PG&E, and (ii) objections to PG&E's plan of reorganization raised by the Governor of California and others. The RSAs may be terminated if PG&E's plan"
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-180 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 7. INSURANCE CLAIM RESERVES (Continued) of reorganization is not confirmed by June 30, 2020. Due to the risks and uncertainties associated with the PG&E bankruptcy and other factors, the Company has not yet recognized a subrogation benefit related to these claims. Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers' compensation insurance and workers' compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5% to 5.0% at December 31, 2019 and 5.0% at December 31, 2018. Total reserves net of the discount were $2.48 billion and $2.45 billion, and the related amount of discount was $1.16 billion and $1.16 billion, at December 31, 2019 and 2018, respectively. Accretion of the discount is reported as part of "claims and claim adjustment expenses" in the consolidated statement of income and was $49 million, $49 million and $50 million in 2019, 2018 and 2017, respectively. Prior Year Reserve Development The following disclosures regarding reserve development are on a "net of reinsurance" basis. 2019 In 2019 , estimated claims and claim adjustment expenses incurred included $164 million of net unfavorable development for claims arising in prior years, including $60 million of net unfavorable prior year reserve development and $49 million of accretion of discount that impacted the Company's results of operations. Business Insurance. Net unfavorable prior year reserve development in 2019 totaled $258 million, primarily driven by the following: - · General liability (excluding asbestos and environmental) - higher than expected loss experience in the segment's domestic operations for primary and excess coverages for multiple accident years, including the impact for accident years 2009 and prior related to the enactment of legislation by a number of states that extended the statute of limitations for childhood sexual molestation claims; - · Commercial automobile - higher than expected loss experience in the segment's domestic operations for recent accident years; - · Asbestos reserves - an increase of $220 million, primarily in the segment's domestic general liability product line; - · Commercial multi-peril - higher than expected loss experience in the segment's domestic operations for recent accident years; and - · Environmental reserves - an increase of $76 million, primarily in the segment's domestic general liability product line, Partially offset by: - · Workers' compensation - better than expected loss experience in the segment's domestic operations for multiple accident years; and - · Commercial property - better than expected loss experience in the segment's domestic operations for recent accident years. Bond & Specialty Insurance. Net favorable prior year reserve development in 2019 totaled $65 million, primarily driven by better than expected loss experience in the segment's domestic operations in the general liability product line for management liability coverages and in the fidelity and surety product line for multiple accident years. Personal Insurance. Net favorable prior year reserve development in 2019 totaled $133 million, primarily driven by better than expected loss experience in the segment's domestic operations in the automobile and homeowners and other product lines for recent accident years. 161 | [
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"text": "Prior Year Reserve Development"
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"text": "estimated claims and claim adjustment expenses incurred included $164 million of net unfavorable development for "
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"text": "Business Insurance. Net unfavorable prior year reserve development in 2019 totaled $258 million, primarily driven by the following: "
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "7. INSURANCE CLAIM RESERVES (Continued)"
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"text": "of reorganization is not confirmed by June 30, 2020. Due to the risks and uncertainties associated with the PG&E bankruptcy and other factors, the Company has not yet recognized a subrogation benefit related to these claims."
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"text": "Included in the claims and claim adjustment expense reserves are reserves for long-term disability and annuity claim payments, primarily arising from workers' compensation insurance and workers' compensation excess insurance policies, that are discounted to the present value of the estimated future payments. The discount rates used were a range of 3.5% to 5.0% at December 31, 2019 and 5.0% at December 31, 2018. Total reserves net of the discount were $2.48 billion and $2.45 billion, and the related amount of discount was $1.16 billion and $1.16 billion, at December 31, 2019 and 2018, respectively. Accretion of the discount is reported as part of \"claims and claim adjustment expenses\" in the consolidated statement of income and was $49 million, $49 million and $50 million in 2019, 2018 and 2017, respectively."
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"text": "Prior Year Reserve Development"
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"text": "The following disclosures regarding reserve development are on a \"net of reinsurance\" basis."
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"text": "In 2019 , estimated claims and claim adjustment expenses incurred included $164 million of net unfavorable development for claims arising in prior years, including $60 million of net unfavorable prior year reserve development and $49 million of accretion of discount that impacted the Company's results of operations."
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"text": "Bond & Specialty Insurance. Net favorable prior year reserve development in 2019 totaled $65 million, primarily driven by better than expected loss experience in the segment's domestic operations in the general liability product line for management liability coverages and in the fidelity and surety product line for multiple accident years."
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "In 2018, estimated claims and claim adjustment expenses incurred included $406 million of net favorable development for claims arising in prior years, including $517 million of net favorable prior year reserve development and $49 million of accretion of discount that impacted the Company's results of operations."
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"text": "Business Insurance. Net favorable prior year reserve development in 2018 totaled $142 million, primarily driven by the following:"
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"text": "Bond & Specialty Insurance. Net favorable prior year reserve development in 2018 totaled $266 million, primarily driven by better than expected loss experience in the segment's domestic operations in the general liability product line for management liability coverages for multiple accident years."
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"text": "Personal Insurance. Net favorable prior year reserve development in 2018 totaled $109 million, primarily driven by better than expected loss experience in the segment's domestic operations in the automobile product line for recent accident years."
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"text": "In 2017, estimated claims and claim adjustment expenses incurred included $458 million of net favorable development for claims arising in prior years, including $592 million of net favorable prior year reserve development and $50 million of accretion of discount that impacted the Company's results of operations."
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"text": "Business Insurance. Net favorable prior year reserve development in 2017 totaled $439 million, primarily driven by the following:"
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"text": "- · Commercial multi-peril - better than expected loss experience for liability coverages for multiple accident years,"
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} |
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"text": "Environmental reserves - an increase of $65 million, primarily in the segment's domestic general liability product line; "
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"text": "International and other - higher than expected loss experience in Europe primarily due to the U.K. Ministry of Justice’s "
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"text": "Bond & Specialty Insurance. Net favorable prior year reserve development in 2017 totaled $140 million, primarily driven by "
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"text": "better than expected loss experience in the segment’s domestic operations in the general liability product line for management "
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"text": "Personal Insurance. Net favorable prior year reserve development in 2017 was not significant and totaled $13 million."
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"text": "The following is a summary of claims and claim adjustment expense reserves, including certain components, for the Company’s "
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"text": "major product lines by reporting segment at December 31, 2019."
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"text": "(at December 31, 2019, in millions)"
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"text": "Reinsurance)"
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"text": "Subtotal:"
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"text": "Adjustment"
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"text": "Expense"
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"text": "Reserves"
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"text": "Business Insurance"
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"text": "General liability............................ "
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"text": "$ 7,749 $ "
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"text": "(172) $ 7,577 $ 842 $ 8,419"
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"text": "Commercial property.................... "
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"text": "887 — "
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"text": "887 "
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"text": "Commercial multi-peril ................ "
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"text": "3,784 — "
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"text": "3,784 "
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"text": "175 "
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"text": "3,959"
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"text": "Commercial automobile ............... "
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"text": "3,237 — "
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{
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"text": "3,237 "
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"text": "3,496"
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"text": "Workers’ compensation "
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"text": "(1) "
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"text": "............ "
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"text": "16,184 "
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"text": "(911) 15,273 "
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"text": "745 16,018"
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"text": "Bond & Specialty Insurance"
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"text": "General liability............................ "
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"text": "1,824 — "
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"text": "1,824 "
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"text": "108 "
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"text": "1,932"
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"text": "Fidelity and surety........................ "
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"text": "399 — "
},
{
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"text": "399 "
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"text": "4 "
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"text": "403"
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"text": "Personal Insurance"
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{
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"text": "Automobile................................... "
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{
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"text": "2,862 — "
},
{
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"text": "2,862 "
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"text": "486 "
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"text": "3,348"
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"text": "Homeowners (excluding Other) ... "
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{
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"text": "1,168 — "
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{
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"text": "1,168 "
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"text": "57 "
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"text": "1,225"
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"text": "International - Canada .................. "
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"text": "739 — "
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"text": "739 "
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"text": "19 "
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"text": "758"
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"text": "Subtotal — claims and allocated"
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"text": "claim adjustment expenses for"
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{
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"text": "the products presented in the"
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"text": "development tables below......... "
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"text": "38,833 "
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"text": "(1,083) 37,750 3,084 40,834"
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{
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"text": "Other insurance contracts "
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"text": "........... "
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"text": "3,895 "
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"text": "(5) 3,890 1,968 "
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{
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"text": "5,858"
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"text": "Unallocated loss adjustment"
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"text": "expense reserves.......................... "
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"text": "2,104 — "
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{
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"text": "2,104 "
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"text": "39 "
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"text": "2,143"
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"text": "Structured settlements "
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"text": "(3)"
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"text": "................. "
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"text": "— — "
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"text": "— 2,965 "
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{
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"text": "2,965"
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"text": "Other ............................................... "
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"text": "57 — "
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"text": "Total property-casualty"
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"text": ".............. "
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"text": "44,889 "
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"text": "(1,088) 43,801 8,035 51,836"
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"text": "Accident and health "
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"text": "...................... "
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"text": "— — "
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"text": "— "
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"text": "- · Environmental reserves - an increase of $65 million, primarily in the segment's domestic general liability product line; and"
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"text": "- · International and other - higher than expected loss experience in Europe primarily due to the U.K. Ministry of Justice's \"Ogden\" discount rate adjustment applied to lump sum bodily injury payouts."
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"text": "Bond & Specialty Insurance. Net favorable prior year reserve development in 2017 totaled $140 million, primarily driven by better than expected loss experience in the segment's domestic operations in the general liability product line for management liability coverages for multiple accident years."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-183 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 7. INSURANCE CLAIM RESERVES (Continued) ___________________________________________ - (1) Net discount amount includes discount of $67 million on reinsurance recoverables for long-term disability and annuity claim payments. - (2) Primarily includes residual market, international (other than operations in Canada within the Personal Insurance segment) and runoff assumed reinsurance business. - (3) Includes structured settlements in cases where the Company did not receive a release from the claimant. - (4) Total reinsurance recoverables (on paid and unpaid losses) at December 31, 2019 were $8.24 billion. The claim development tables that follow present, by accident year, incurred and cumulative paid claims and allocated claim adjustment expense on a historical basis. This claim development information is presented on an undiscounted, net of reinsurance basis for ten years, or the number of years for which claims incurred typically remain outstanding if less than ten years. The claim development tables also provide the historical average annual percentage payout of incurred claims by age, net of reinsurance, as supplementary information (identified as unaudited in the tables below). For Personal Insurance - International - Canada, the claim development information reflects the acquisition of The Dominion of Canada General Insurance Company (Dominion) in November 2013 on a retrospective basis (includes Dominion data for years prior to the Company's acquisition of Dominion). 164 | [
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"text": "basis for ten years, or the number of years for which claims incurred typically remain outstanding if less than ten years. The claim "
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"text": "The claim development tables that follow present, by accident year, incurred and cumulative paid claims and allocated claim adjustment expense on a historical basis. This claim development information is presented on an undiscounted, net of reinsurance basis for ten years, or the number of years for which claims incurred typically remain outstanding if less than ten years. The claim development tables also provide the historical average annual percentage payout of incurred claims by age, net of reinsurance, as supplementary information (identified as unaudited in the tables below). For Personal Insurance - International - Canada, the claim development information reflects the acquisition of The Dominion of Canada General Insurance Company (Dominion) in November 2013 on a retrospective basis (includes Dominion data for years prior to the Company's acquisition of Dominion)."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-184 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 7. INSURANCE CLAIM RESERVES (Continued) Business Insurance General Liability (dollars in millions) Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance 165 | [
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0.11188370932633628,
0.30590496999656813
],
"ocr": false,
"ocr_confidence": 1,
"text": "Year"
},
{
"bbox": [
0.7899940567787247,
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0.8222228798400674,
0.27587756568455263
],
"ocr": false,
"ocr_confidence": 1,
"text": "IBNR"
},
{
"bbox": [
0.7816722112071233,
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0.8304531213008997,
0.2858532651758317
],
"ocr": false,
"ocr_confidence": 1,
"text": "Reserves"
},
{
"bbox": [
0.7860618103232849,
0.28885100608648256,
0.8266907765809133,
0.29755340497315086
],
"ocr": false,
"ocr_confidence": 1,
"text": "Dec 31,"
},
{
"bbox": [
0.7933645023641361,
0.29887685849685075,
0.818904581294718,
0.30590496999656813
],
"ocr": false,
"ocr_confidence": 1,
"text": "2019"
},
{
"bbox": [
0.8491477067221697,
0.26876917797157623,
0.9137098524305556,
0.2758875804970123
],
"ocr": false,
"ocr_confidence": 1,
"text": "Cumulative"
},
{
"bbox": [
0.851316304319234,
0.2787950303819444,
0.912202263520623,
0.28590341809492087
],
"ocr": false,
"ocr_confidence": 1,
"text": "Number of"
},
{
"bbox": [
0.8553923019255051,
0.2889712626927891,
0.9071256592618897,
0.2978040907118056
],
"ocr": false,
"ocr_confidence": 1,
"text": "Reported"
},
{
"bbox": [
0.8621986466224747,
0.2988467352026809,
0.900567565301452,
0.3059651377281169
],
"ocr": false,
"ocr_confidence": 1,
"text": "Claims"
},
{
"bbox": [
0.08652525237112334,
0.31432135530220445,
0.11805841978952941,
0.3229937097514939
],
"ocr": false,
"ocr_confidence": 1,
"text": "2010 "
},
{
"bbox": [
0.17003670124092488,
0.31477249500363375,
0.9122173681805029,
0.32580093265503873
],
"ocr": false,
"ocr_confidence": 1,
"text": "$1,028 $1,031 $1,021 $ 959 $ 927 $ 912 $ 918 $ 908 $ 911 $ 900 $ 62 27,993"
},
{
"bbox": [
0.08652525237112334,
0.33311978914324936,
0.11663770836210412,
0.3417921830209343
],
"ocr": false,
"ocr_confidence": 1,
"text": "2011 "
},
{
"bbox": [
0.23824698194510205,
0.33408483855176035,
0.912478668521149,
0.3445994453528747
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,004 1,074 1,065 998 972 935 913 908 922 69 27,557"
},
{
"bbox": [
0.08652525237112334,
0.35191830184108525,
0.1182707070501565,
0.3605906562903747
],
"ocr": false,
"ocr_confidence": 1,
"text": "2012 "
},
{
"bbox": [
0.30959258416686397,
0.35288327239280526,
0.9126746180884364,
0.3633978791939196
],
"ocr": false,
"ocr_confidence": 1,
"text": "989 985 935 913 892 905 917 920 78 24,920"
},
{
"bbox": [
0.08652525237112334,
0.3706791209928133,
0.11760118272569445,
0.3793890901314196
],
"ocr": false,
"ocr_confidence": 1,
"text": "2013 "
},
{
"bbox": [
0.3683804598721591,
0.37168174566224566,
0.9122826162010732,
0.38219635246336
],
"ocr": false,
"ocr_confidence": 1,
"text": "965 975 958 940 927 933 975 104 22,625"
},
{
"bbox": [
0.08652525237112334,
0.3895152089515706,
0.11823804450757576,
0.39818756340086
],
"ocr": false,
"ocr_confidence": 1,
"text": "2014 "
},
{
"bbox": [
0.4288013085773096,
0.39048017950329056,
0.9126581776423085,
0.4009947863044049
],
"ocr": false,
"ocr_confidence": 1,
"text": "976 989 983 948 956 1,013 159 22,319"
},
{
"bbox": [
0.08652525237112334,
0.40815072466236674,
0.11766649496675742,
0.4170110342730539
],
"ocr": false,
"ocr_confidence": 1,
"text": "2015 "
},
{
"bbox": [
0.4892222086588542,
0.4092786133443354,
0.9126746180884364,
0.4197932201454498
],
"ocr": false,
"ocr_confidence": 1,
"text": "998 956 923 967 1,057 165 21,360"
},
{
"bbox": [
0.08652525237112334,
0.426986733764333,
0.11817271942241425,
0.4358094681140988
],
"ocr": false,
"ocr_confidence": 1,
"text": "2016 "
},
{
"bbox": [
0.5387183295355903,
0.42807708661377586,
0.9124785657683607,
0.4385916934148902
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,075 1,058 1,087 1,187 359 19,997"
},
{
"bbox": [
0.08652525237112334,
0.44591054990310075,
0.11786245737814341,
0.4545829043523902
],
"ocr": false,
"ocr_confidence": 1,
"text": "2017 "
},
{
"bbox": [
0.5975062309290825,
0.44687552045482076,
0.9128542299623843,
0.4573901272559351
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,133 1,143 1,196 530 18,014"
},
{
"bbox": [
0.08652525237112334,
0.46470898374414565,
0.11773182005191893,
0.4734063752245841
],
"ocr": false,
"ocr_confidence": 1,
"text": "2018 "
},
{
"bbox": [
0.6579270796342329,
0.46567399372426116,
0.9128542299623843,
0.4761886005253755
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,253 1,312 841 16,694"
},
{
"bbox": [
0.08652525237112334,
0.4835074570135861,
0.11804208209618976,
0.49235526782289646
],
"ocr": false,
"ocr_confidence": 1,
"text": "2019 "
},
{
"bbox": [
0.7281459204676978,
0.4845100028262274,
0.9124785657683607,
0.4949870343664204
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,447 1,231 12,167"
},
{
"bbox": [
0.6603439279678294,
0.5027570305560602,
0.7624290800255156,
0.5137854682074653
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total $10,929"
},
{
"bbox": [
0.2185465237909696,
0.5494925723211401,
0.7084062878130261,
0.5584757013838421
],
"ocr": false,
"ocr_confidence": 1,
"text": "Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance"
},
{
"bbox": [
0.08627379703200626,
0.565784543059593,
0.13530289364182185,
0.5728527532375444
],
"ocr": false,
"ocr_confidence": 1,
"text": "Accident"
},
{
"bbox": [
0.08623460968736847,
0.5758103954699613,
0.11259901001798585,
0.582868590835453
],
"ocr": false,
"ocr_confidence": 1,
"text": "Year "
},
{
"bbox": [
0.40214756923893885,
0.5758103954699613,
0.4604389948475642,
0.5829287191386062
],
"ocr": false,
"ocr_confidence": 1,
"text": "Unaudited"
},
{
"bbox": [
0.08652525237112334,
0.5912852521398578,
0.11805841978952941,
0.5999576065891473
],
"ocr": false,
"ocr_confidence": 1,
"text": "2010 "
},
{
"bbox": [
0.17003670124092488,
0.5917363918412871,
0.7560865614149306,
0.6020755422823805
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 35 $ 139 $ 324 $ 487 $ 629 $ 702 $ 756 $ 781 $ 800 $ 814"
},
{
"bbox": [
0.08652525237112334,
0.6100836859809028,
0.11663770836210412,
0.6187560404301922
],
"ocr": false,
"ocr_confidence": 1,
"text": "2011 "
},
{
"bbox": [
0.25710807825981163,
0.6110486959610183,
0.7558905090948548,
0.6200594249005773
],
"ocr": false,
"ocr_confidence": 1,
"text": "47 187 355 539 660 725 762 799 819"
},
{
"bbox": [
0.08652525237112334,
0.6288821592503432,
0.1182707070501565,
0.6375545136996326
],
"ocr": false,
"ocr_confidence": 1,
"text": "2012 "
},
{
"bbox": [
0.3180515276462542,
0.6298471298020631,
0.7547965001578283,
0.6388578587416223
],
"ocr": false,
"ocr_confidence": 1,
"text": "32 150 295 489 589 699 754 811"
},
{
"bbox": [
0.08652525237112334,
0.6476429784020712,
0.11760118272569445,
0.6563529475406775
],
"ocr": false,
"ocr_confidence": 1,
"text": "2013 "
},
{
"bbox": [
0.3768393776633523,
0.6486456030715035,
0.756021210641572,
0.6576563320110627
],
"ocr": false,
"ocr_confidence": 1,
"text": "35 175 363 498 639 745 816 "
},
{
"bbox": [
0.7856012723261259,
0.6510041702625363,
0.8952237010403514,
0.6599872993252383
],
"ocr": false,
"ocr_confidence": 1,
"text": "Liability for Claims"
},
{
"bbox": [
0.08652525237112334,
0.6664790663608285,
0.11823804450757576,
0.6751514405243156
],
"ocr": false,
"ocr_confidence": 1,
"text": "2014 "
},
{
"bbox": [
0.4372602777448969,
0.6674440763409439,
0.7559068467881944,
0.676304405665829
],
"ocr": false,
"ocr_confidence": 1,
"text": "37 163 321 515 640 750 "
},
{
"bbox": [
0.7822536892361112,
0.6698027618171633,
0.89898681640625,
0.6769211249142039
],
"ocr": false,
"ocr_confidence": 1,
"text": "And Allocated Claim"
},
{
"bbox": [
0.08652525237112334,
0.6851146215000202,
0.11766649496675742,
0.6939749508249051
],
"ocr": false,
"ocr_confidence": 1,
"text": "2015 "
},
{
"bbox": [
0.49768112645004736,
0.6862425298961866,
0.7559068467881944,
0.6951028592210715
],
"ocr": false,
"ocr_confidence": 1,
"text": "36 137 336 558 740 "
},
{
"bbox": [
0.7785794036556976,
0.6886010773730217,
0.9026348486492529,
0.697584245864119
],
"ocr": false,
"ocr_confidence": 1,
"text": "Adjustment Expenses,"
},
{
"bbox": [
0.08652525237112334,
0.7039506700303819,
0.11817271942241425,
0.7127734043801478
],
"ocr": false,
"ocr_confidence": 1,
"text": "2016 "
},
{
"bbox": [
0.5581020265315919,
0.7050409834514293,
0.7558905604712489,
0.7140516926767906
],
"ocr": false,
"ocr_confidence": 1,
"text": "35 191 421 649 "
},
{
"bbox": [
0.7872898088962542,
0.7073996492134508,
0.8934738210556081,
0.714507977783834
],
"ocr": false,
"ocr_confidence": 1,
"text": "Net of Reinsurance"
},
{
"bbox": [
0.08652525237112334,
0.7228744270265565,
0.11786245737814341,
0.7315467814758458
],
"ocr": false,
"ocr_confidence": 1,
"text": "2017 "
},
{
"bbox": [
0.6163673786201862,
0.7239647404476037,
0.7555803498033723,
0.732699746617359
],
"ocr": false,
"ocr_confidence": 1,
"text": "40 180 378"
},
{
"bbox": [
0.08652525237112334,
0.7416728805817991,
0.11773182005191893,
0.7503702917764353
],
"ocr": false,
"ocr_confidence": 1,
"text": "2018 "
},
{
"bbox": [
0.6767882273253367,
0.7428007889779655,
0.7561192368016099,
0.7514731434272549
],
"ocr": false,
"ocr_confidence": 1,
"text": "42 202 "
},
{
"bbox": [
0.7829754248211279,
0.7450166253772509,
0.8929231688631103,
0.7520647862160853
],
"ocr": false,
"ocr_confidence": 1,
"text": "2010 - Before"
},
{
"bbox": [
0.08652525237112334,
0.7604713341370417,
0.11804208209618976,
0.7693191252321544
],
"ocr": false,
"ocr_confidence": 1,
"text": "2019 "
},
{
"bbox": [
0.7408180622139362,
0.7614363244029595,
0.7548781886245265,
0.7702966537278444
],
"ocr": false,
"ocr_confidence": 1,
"text": "51 "
},
{
"bbox": [
0.7868130359585438,
0.7638250937449532,
0.8874971023713699,
0.7708532052446705
],
"ocr": false,
"ocr_confidence": 1,
"text": "2019 2010"
},
{
"bbox": [
0.6603439279678294,
0.7797210456789002,
0.9062307852285879,
0.7907494636161074
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total $6,030 $ 4,899 $ 2,850"
},
{
"bbox": [
0.7101666999585701,
0.8013918972754663,
0.8049196699251631,
0.8103750657665637
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total net liability "
},
{
"bbox": [
0.8428313386962069,
0.7985193809489564,
0.9062079741095854,
0.8095477988861636
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 7,749"
},
{
"bbox": [
0.32125872473925454,
0.8452548241430475,
0.7819219004826915,
0.854258032116163
],
"ocr": false,
"ocr_confidence": 1,
"text": "Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance"
},
{
"bbox": [
0.5221695305923821,
0.861546814595698,
0.5804609818892046,
0.8686651579785408
],
"ocr": false,
"ocr_confidence": 1,
"text": "Unaudited"
},
{
"bbox": [
0.08622480964018439,
0.876776061932862,
0.11688725635258838,
0.8838342572983537
],
"ocr": false,
"ocr_confidence": 1,
"text": "Years "
},
{
"bbox": [
0.21423869020609743,
0.8778688790570242,
0.8866805259627525,
0.8849070250833989
],
"ocr": false,
"ocr_confidence": 1,
"text": "12345678 9 10"
},
{
"bbox": [
0.21598923808396464,
0.8931884962766977,
0.24830624872586543,
0.9020488354586815
],
"ocr": false,
"ocr_confidence": 1,
"text": "3.6% "
},
{
"bbox": [
0.2823378951461227,
0.8942788096977451,
0.9179899170743897,
0.9032895386373042
],
"ocr": false,
"ocr_confidence": 1,
"text": "12.6% 18.0% 18.9% 14.0% 9.8% 5.8% 4.3% 2.1% 1.6%"
}
] | [
{
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"data": [],
"index_in_doc": 2462,
"label": "section_header",
"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
},
{
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"data": [],
"index_in_doc": 2463,
"label": "section_header",
"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
},
{
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"data": [],
"index_in_doc": 2464,
"label": "section_header",
"text": "7. INSURANCE CLAIM RESERVES (Continued)"
},
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"index_in_doc": 2465,
"label": "section_header",
"text": "Business Insurance"
},
{
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"index_in_doc": 2466,
"label": "section_header",
"text": "General Liability"
},
{
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"index_in_doc": 2467,
"label": "text",
"text": "(dollars in millions)"
},
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"html_seq": "<table><tr><td></td><th colspan=\"4\">For the Years Ended December 31,</th></tr><tr><td></td><th>2010 2011 2012 2013 2014 2015</th><td>2016 2017 2018 2019</td><td></td><td></td></tr><tr><td></td><th colspan=\"4\">Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance</th></tr><tr><td></td><th colspan=\"4\">Unaudited</th></tr><tr><td>Accident Year</td><td></td><th>IBNR Reserves Dec 31, 2019 Cumulative Number of Reported Claims</th><td></td><td></td></tr><tr><td>2010</td><td></td><td>$1,028 $1,031 $1,021 $ 959 $ 927 $ 912 $ 918 $ 908 $ 911 $ 900 $ 62 27,993</td><td></td><td></td></tr><tr><td>2011</td><td></td><td>1,004 1,074 1,065 998 972 935 913 908 922 69 27,557</td><td></td><td></td></tr><tr><td>2012</td><td></td><td>989 985 935 913 892 905 917 920 78 24,920</td><td></td><td></td></tr><tr><td>2013</td><td></td><td>965 975 958 940 927 933 975 104 22,625</td><td></td><td></td></tr><tr><td>2014</td><td></td><td>976 989 983 948 956 1,013 159 22,319</td><td></td><td></td></tr><tr><td>2015</td><td></td><td>998 956 923 967 1,057 165 21,360</td><td></td><td></td></tr><tr><td>2016</td><td></td><td>1,075 1,058 1,087 1,187 359 19,997</td><td></td><td></td></tr><tr><td>2017</td><td></td><td>1,133 1,143 1,196 530 18,014</td><td></td><td></td></tr><tr><td>2018</td><td></td><td>1,253 1,312 841 16,694</td><td></td><td></td></tr><tr><td>2019</td><td></td><td>1,447 1,231 12,167</td><td></td><td></td></tr></table>",
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"html_seq": "<table><tr><td></td><th colspan=\"3\">Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance</th></tr><tr><th>Accident Year</th><th colspan=\"3\">Unaudited</th></tr><tr><td>2010</td><td></td><td>$ 35 $ 139 $ 324 $ 487 $ 629 $ 702 $ 756 $ 781 $ 800 $ 814</td><td></td></tr><tr><td>2011</td><td></td><td>47 187 355 539 660 725 762 799 819</td><td></td></tr><tr><td>2012</td><td></td><td>32 150 295 489 589 699 754 811</td><td></td></tr><tr><td>2013</td><td></td><td>35 175 363 498 639 745 816</td><td>Liability for Claims</td></tr><tr><td>2014</td><td></td><td>37 163 321 515 640 750</td><td>And Allocated Claim</td></tr><tr><td>2015</td><td></td><td>36 137 336 558 740</td><td>Adjustment Expenses,</td></tr><tr><td>2016</td><td></td><td>35 191 421 649</td><td>Net of Reinsurance</td></tr><tr><td>2017</td><td></td><td>40 180 378</td><td></td></tr><tr><td>2018</td><td></td><td>42 202</td><td></td></tr><tr><td>2019</td><td></td><td>51</td><td></td></tr><tr><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td>Total net liability</td><td></td></tr></table>",
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"text": "Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance"
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-185 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 7. INSURANCE CLAIM RESERVES (Continued) Commercial Property 166 | [
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"text": "(dollars in millions)"
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"text": "For the Years Ended December 31,"
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"text": "2015 "
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"text": "2016 "
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"text": "2019"
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"text": "Incurred Claims and Allocated Claims Adjustment Expenses, Net of Reinsurance"
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"text": "Accident Year"
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"text": "Reserves"
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"text": "December"
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"text": "31, 2019"
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"text": "Cumulative"
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"text": "Number of"
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"text": "Reported"
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"text": "Claims"
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"text": "2015 "
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"text": "$ 786 $ 750 $ 741 $ 731 $ 737 $ 8 20,162"
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"text": "2016 "
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"text": "896 863 820 809 11 22,313"
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"text": "2017 "
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"text": "1,209 1,177 1,151 11 25,066"
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"text": "2018 "
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"text": "1,093 1,079 10 24,785"
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"text": "2019 "
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"text": "1,069 84 22,186"
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"text": "Total $ 4,845"
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"text": "Cumulative Paid Claims and Allocated Claim"
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"text": "Adjustment Expenses, Net of Reinsurance"
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"text": "Unaudited"
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"text": "Liability for Claims"
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"text": "Accident Year "
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"text": "And Allocated Claim"
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"text": "2015 "
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"text": "$ 376 $ 615 $ 681 $ 699 $ 717 "
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"text": "Adjustment Expenses,"
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"text": "2016 "
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{
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"text": "441 685 745 767 "
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{
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0.8869418263033986,
0.535484057680273
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"ocr": false,
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"text": "Net of Reinsurance"
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{
"bbox": [
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0.11786245737814341,
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"ocr": false,
"ocr_confidence": 1,
"text": "2017 "
},
{
"bbox": [
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0.5448532301634165,
0.7359353010903303,
0.5553302617036096
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"ocr": false,
"ocr_confidence": 1,
"text": "618 1,003 1,073"
},
{
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0.5626491181918201,
0.11773182005191893,
0.5713465096722585
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"ocr": false,
"ocr_confidence": 1,
"text": "2018 "
},
{
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0.5726248571114947
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"ocr": false,
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"text": "561 928 "
},
{
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0.5730408661125242
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"ocr": false,
"ocr_confidence": 1,
"text": "2015 - Before"
},
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"text": "2019 "
},
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0.5912728716236676
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"ocr": false,
"ocr_confidence": 1,
"text": "610 "
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"ocr": false,
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"text": "2019 2015"
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"text": "Total $ 4,095 $ 750 $ 137"
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"text": "Total net liability "
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"text": "$ 887"
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"text": "Average Annual Percentage Payout of Incurred"
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"text": "Claims by Age, Net of Reinsurance"
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"text": "Unaudited"
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"text": "Years "
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"text": "1 "
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"text": "2 "
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"text": "3 "
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"text": "4 "
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"text": "5"
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"text": "53.6% 32.6% 7.5% 2.5% 2.5%"
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"text": "7. INSURANCE CLAIM RESERVES (Continued)"
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"text": "Commercial Property"
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"html_seq": "<table><tr><td></td><th colspan=\"5\">(dollars in millions) For the Years Ended December 31,</th></tr><tr><td></td><th>2015 2016 2017</th><th>2018 2019</th><td></td><td></td><td></td></tr><tr><td></td><th colspan=\"5\">Incurred Claims and Allocated Claims Adjustment Expenses, Net of Reinsurance</th></tr><tr><td></td><th colspan=\"4\">Unaudited</th><td></td></tr><tr><th>Accident Year</th><td></td><td></td><th>IBNR Reserves December 31, 2019</th><th>Cumulative Number of Reported Claims</th><td></td></tr><tr><td>2015</td><td></td><td>$ 786 $ 750 $ 741 $ 731 $ 737 $ 8 20,162</td><td></td><td></td><td></td></tr><tr><td>2016</td><td></td><td></td><td></td><td>896 863 820 809 11 22,313</td><td></td></tr><tr><td>2017</td><td></td><td></td><td></td><td>1,209 1,177 1,151 11 25,066</td><td></td></tr><tr><td>2018</td><td></td><td></td><td></td><td>1,093 1,079 10 24,785</td><td></td></tr><tr><td>2019</td><td></td><td></td><td></td><td>1,069 84 22,186</td><td></td></tr><tr><td></td><td></td><td>Total $ 4,845</td><td></td><td></td><td></td></tr><tr><td></td><th colspan=\"5\">Cumulative Paid Claims and Allocated Claim</th></tr><tr><td></td><th colspan=\"5\">Adjustment Expenses, Net of Reinsurance</th></tr><tr><td></td><th colspan=\"4\">Unaudited</th><td></td></tr><tr><th>Accident Year</th><td></td><td></td><th colspan=\"2\">Liability for Claims And Allocated Claim</th><td></td></tr><tr><td>2015</td><td>$ 376 $ 615 $ 681 $ 699 $ 717</td><td></td><td colspan=\"2\">Adjustment Expenses,</td><td></td></tr><tr><td>2016</td><td></td><td>441 685 745 767</td><td colspan=\"2\">Net of Reinsurance</td><td></td></tr><tr><td>2017</td><td></td><td>618 1,003 1,073</td><td></td><td></td><td></td></tr><tr><td>2018</td><td></td><td>561 928</td><td></td><td>2015 - Before</td><td></td></tr><tr><td>2019</td><td></td><td>610</td><td>2019 2015</td><td></td><td></td></tr><tr><td></td><td></td><td>Total $ 4,095 $ 750 $ 137</td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td>Total net liability</td><td>$ 887</td><td></td></tr><tr><td>Years</td><td>1</td><td>2 3</td><td>4</td><td>5</td><td></td></tr><tr><td></td><td></td><td></td><td>53.6% 32.6% 7.5% 2.5% 2.5%</td><td></td><td></td></tr></table>",
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-186 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 7. INSURANCE CLAIM RESERVES (Continued) Commercial Multi-Peril (dollars in millions) 167 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "7. "
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"text": "INSURANCE CLAIM RESERVES (Continued)"
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"text": "Commercial Multi-Peril"
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"text": "(dollars in millions)"
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"text": "For the Years Ended December 31,"
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0.17198974917633364,
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"text": "2010 2011 2012 2013 2014 2015 2016 2017 2018 2019"
},
{
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"text": "Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance"
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"bbox": [
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"ocr_confidence": 1,
"text": "Unaudited"
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"ocr_confidence": 1,
"text": "Accident"
},
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"bbox": [
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0.11188370932633628,
0.286041102052043
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"ocr_confidence": 1,
"text": "Year"
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"text": "IBNR"
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"text": "Reserves"
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"text": "December"
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"bbox": [
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0.8262465249006997,
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"text": "31, 2019"
},
{
"bbox": [
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"text": "Cumulative"
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"text": "Number of"
},
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"bbox": [
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0.26910747360505494,
0.9071125069049873,
0.2779403016240714
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"ocr": false,
"ocr_confidence": 1,
"text": "Reported"
},
{
"bbox": [
0.8621854942655723,
0.2789828672581557,
0.9005544129445496,
0.28610126978359174
],
"ocr": false,
"ocr_confidence": 1,
"text": "Claims"
},
{
"bbox": [
0.08652525237112334,
0.29445780278484335,
0.11805841978952941,
0.3031301572341327
],
"ocr": false,
"ocr_confidence": 1,
"text": "2010 "
},
{
"bbox": [
0.1635047064887153,
0.2949089424862726,
0.9128542299623843,
0.30593738013767763
],
"ocr": false,
"ocr_confidence": 1,
"text": "$1,711 $1,826 $1,832 $1,861 $1,895 $1,892 $1,898 $1,885 $1,881 $ 1,868 $ 19 112,074"
},
{
"bbox": [
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0.31325623662588825,
0.11663770836210412,
0.32192859107517763
],
"ocr": false,
"ocr_confidence": 1,
"text": "2011 "
},
{
"bbox": [
0.2303922505491109,
0.3142212071776082,
0.9124785657683607,
0.32473581397872253
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,235 2,244 2,269 2,286 2,296 2,287 2,283 2,279 2,272 25 125,867"
},
{
"bbox": [
0.08652525237112334,
0.33205474932372414,
0.1182707070501565,
0.3407271037730136
],
"ocr": false,
"ocr_confidence": 1,
"text": "2012 "
},
{
"bbox": [
0.29213586158624,
0.3330197198754441,
0.911564168705282,
0.3435343266765585
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,885 1,883 1,903 1,888 1,888 1,867 1,859 1,854 34 104,921"
},
{
"bbox": [
0.08652525237112334,
0.3508155684754522,
0.11760118272569445,
0.3595255376140585
],
"ocr": false,
"ocr_confidence": 1,
"text": "2013 "
},
{
"bbox": [
0.35092373729153514,
0.35181819314488455,
0.9123479669744318,
0.3623327999459989
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,615 1,623 1,620 1,609 1,591 1,600 1,599 38 83,818"
},
{
"bbox": [
0.08652525237112334,
0.36965165643420944,
0.11823804450757576,
0.3783240108834989
],
"ocr": false,
"ocr_confidence": 1,
"text": "2014 "
},
{
"bbox": [
0.4113446116848827,
0.3706166269859294,
0.9128868025962753,
0.3811312337870438
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,663 1,627 1,625 1,617 1,626 1,627 50 78,292"
},
{
"bbox": [
0.08652525237112334,
0.38828717214500563,
0.11766649496675742,
0.3971474817556928
],
"ocr": false,
"ocr_confidence": 1,
"text": "2015 "
},
{
"bbox": [
0.4717654860782302,
0.3894150608269743,
0.9122826162010732,
0.3999296676280887
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,568 1,625 1,593 1,597 1,606 92 71,635"
},
{
"bbox": [
0.08652525237112334,
0.4071231812469719,
0.11817271942241425,
0.4159459155967377
],
"ocr": false,
"ocr_confidence": 1,
"text": "2016 "
},
{
"bbox": [
0.5321863861597749,
0.40821353409641475,
0.9123479669744318,
0.4187281408975291
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,662 1,623 1,598 1,590 122 68,888"
},
{
"bbox": [
0.08652525237112334,
0.42604699738573965,
0.11786245737814341,
0.4347193518350291
],
"ocr": false,
"ocr_confidence": 1,
"text": "2017 "
},
{
"bbox": [
0.590974236176873,
0.4270119679374596,
0.9126746180884364,
0.437526574738574
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,872 1,928 1,956 266 71,220"
},
{
"bbox": [
0.08652525237112334,
0.44484543122678455,
0.11773182005191893,
0.453542822707223
],
"ocr": false,
"ocr_confidence": 1,
"text": "2018 "
},
{
"bbox": [
0.6513950848820234,
0.4458480164678214,
0.9122172654277146,
0.4563250480080144
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,976 2,114 416 68,403"
},
{
"bbox": [
0.08652525237112334,
0.46364390449622495,
0.11804208209618976,
0.47249171530553535
],
"ocr": false,
"ocr_confidence": 1,
"text": "2019 "
},
{
"bbox": [
0.7219242391361532,
0.4646088750479449,
0.9123479669744318,
0.4751234818490593
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,017 715 70,798"
},
{
"bbox": [
0.6431158303411721,
0.48289347803869914,
0.7570892231231586,
0.4939219156901042
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total $18,503"
},
{
"bbox": [
0.21528051357076625,
0.5296289803753835,
0.7051402904369213,
0.5386121094380855
],
"ocr": false,
"ocr_confidence": 1,
"text": "Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance"
},
{
"bbox": [
0.08627378418790772,
0.5459209511138364,
0.13530286795362478,
0.5529891612917878
],
"ocr": false,
"ocr_confidence": 1,
"text": "Accident"
},
{
"bbox": [
0.08623459684326994,
0.5559468035242047,
0.11188047261350484,
0.5630049988896964
],
"ocr": false,
"ocr_confidence": 1,
"text": "Year "
},
{
"bbox": [
0.39561560017492636,
0.5559468035242047,
0.45390705147174876,
0.5630651271928496
],
"ocr": false,
"ocr_confidence": 1,
"text": "Unaudited"
},
{
"bbox": [
0.08652525237112334,
0.5714217390508923,
0.11805841978952941,
0.5800940935001817
],
"ocr": false,
"ocr_confidence": 1,
"text": "2010 "
},
{
"bbox": [
0.1635047064887153,
0.5718728787523215,
0.7559068467881944,
0.5829013164037266
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 709 $1,180 $1,395 $1,579 $1,698 $1,763 $1,798 $1,819 $1,834 $ 1,840"
},
{
"bbox": [
0.08652525237112334,
0.5902201728919372,
0.11663770836210412,
0.5988925273412266
],
"ocr": false,
"ocr_confidence": 1,
"text": "2011 "
},
{
"bbox": [
0.23171498719289246,
0.5911851828720527,
0.7560865614149306,
0.601699789673167
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,060 1,573 1,803 1,979 2,088 2,156 2,193 2,222 2,234"
},
{
"bbox": [
0.08652525237112334,
0.6090186461613776,
0.1182707070501565,
0.617691000610667
],
"ocr": false,
"ocr_confidence": 1,
"text": "2012 "
},
{
"bbox": [
0.3028972895458491,
0.6099836167130975,
0.7560865100385364,
0.6204982235142119
],
"ocr": false,
"ocr_confidence": 1,
"text": "795 1,246 1,424 1,590 1,699 1,752 1,780 1,804"
},
{
"bbox": [
0.08652525237112334,
0.6277794653131056,
0.11760118272569445,
0.6364894344517119
],
"ocr": false,
"ocr_confidence": 1,
"text": "2013 "
},
{
"bbox": [
0.3619137645169139,
0.6287820899825379,
0.756021210641572,
0.6392966967836523
],
"ocr": false,
"ocr_confidence": 1,
"text": "644 987 1,167 1,304 1,410 1,475 1,516 "
},
{
"bbox": [
0.7856012723261259,
0.6311406177451753,
0.8952237010403514,
0.6401237468078771
],
"ocr": false,
"ocr_confidence": 1,
"text": "Liability for Claims"
},
{
"bbox": [
0.08652525237112334,
0.6466155532718629,
0.11823804450757576,
0.6552879077211523
],
"ocr": false,
"ocr_confidence": 1,
"text": "2014 "
},
{
"bbox": [
0.42233466459845853,
0.6475805238235829,
0.7561191854252157,
0.6580951306246972
],
"ocr": false,
"ocr_confidence": 1,
"text": "628 956 1,154 1,328 1,448 1,512 "
},
{
"bbox": [
0.7822536892361112,
0.6499390910146157,
0.89898681640625,
0.6570574146832606
],
"ocr": false,
"ocr_confidence": 1,
"text": "And Allocated Claim"
},
{
"bbox": [
0.08652525237112334,
0.6652510295542635,
0.11766649496675742,
0.6741113785933462
],
"ocr": false,
"ocr_confidence": 1,
"text": "2015 "
},
{
"bbox": [
0.48272288929332385,
0.6663789576646277,
0.7558905090948548,
0.6768935447515443
],
"ocr": false,
"ocr_confidence": 1,
"text": "595 970 1,144 1,310 1,409 "
},
{
"bbox": [
0.7785794036556976,
0.6687375248556605,
0.9026348486492529,
0.6777206736325602
],
"ocr": false,
"ocr_confidence": 1,
"text": "Adjustment Expenses,"
},
{
"bbox": [
0.08652525237112334,
0.684087097798823,
0.11817271942241425,
0.6929098321485889
],
"ocr": false,
"ocr_confidence": 1,
"text": "2016 "
},
{
"bbox": [
0.5431437379984744,
0.6851774112198704,
0.7555802984269782,
0.695691998306787
],
"ocr": false,
"ocr_confidence": 1,
"text": "585 950 1,133 1,278 "
},
{
"bbox": [
0.7872898088962542,
0.6875359586967055,
0.8934738210556081,
0.6946442872670886
],
"ocr": false,
"ocr_confidence": 1,
"text": "Net of Reinsurance"
},
{
"bbox": [
0.08652525237112334,
0.7030108745091953,
0.11786245737814341,
0.7116832289584848
],
"ocr": false,
"ocr_confidence": 1,
"text": "2017 "
},
{
"bbox": [
0.6017356898246791,
0.7040134597502321,
0.7555802984269782,
0.7144904518620296
],
"ocr": false,
"ocr_confidence": 1,
"text": "716 1,199 1,388"
},
{
"bbox": [
0.08652525237112334,
0.721809328064438,
0.11773182005191893,
0.7305067392590742
],
"ocr": false,
"ocr_confidence": 1,
"text": "2018 "
},
{
"bbox": [
0.6621565899062237,
0.7228996414854854,
0.7561192368016099,
0.7332889054172723
],
"ocr": false,
"ocr_confidence": 1,
"text": "792 1,302 "
},
{
"bbox": [
0.7829754248211279,
0.7251529151463078,
0.8929231688631103,
0.7322010759851422
],
"ocr": false,
"ocr_confidence": 1,
"text": "2010 - Before"
},
{
"bbox": [
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0.7406077619054828,
0.11804208209618976,
0.7494555530005955
],
"ocr": false,
"ocr_confidence": 1,
"text": "2019 "
},
{
"bbox": [
0.7324571192063868,
0.7417607270469961,
0.7557926370639994,
0.7504080247509387
],
"ocr": false,
"ocr_confidence": 1,
"text": "707 "
},
{
"bbox": [
0.7868130359585438,
0.74396138351401,
0.8874971023713699,
0.7509894950137274
],
"ocr": false,
"ocr_confidence": 1,
"text": "2019 2010"
},
{
"bbox": [
0.6431158303411721,
0.7598573748763525,
0.9051203358454335,
0.7708857928135598
],
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"text": "Total $14,990 $ 3,513 $ 271"
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"text": "Total net liability "
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"text": "$ 3,784"
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"text": "Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance"
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"text": "Unaudited"
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"text": "YeYears 12345678 9 10"
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"text": "38.9% 23.2% 10.8% 9.3% 6.2% 3.5% 1.9% 1.3% 0.7% 0.3%"
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "7. INSURANCE CLAIM RESERVES (Continued)"
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"text": "Commercial Multi-Peril"
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"text": "(dollars in millions)"
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"html_seq": "<table><tr><th colspan=\"3\">Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance Unaudited</th></tr><tr><td></td><td></td><th>YeYears 12345678 9 10</th></tr><tr><td></td><td>38.9% 23.2% 10.8% 9.3% 6.2% 3.5% 1.9% 1.3% 0.7% 0.3%</td><td></td></tr></table>",
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-187 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 7. INSURANCE CLAIM RESERVES (Continued) Commercial Automobile 168 | [
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"text": "Commercial Automobile"
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"text": "(dollars in millions)"
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"text": "For the Years Ended December 31,"
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"text": "2015 "
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"text": "2016 "
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"text": "2017 "
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"text": "2018 "
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"text": "2019"
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"text": "Incurred Claims and Allocated Claims Adjustment"
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"text": "Expenses, Net of Reinsurance"
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"text": "Unaudited"
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"text": "Accident Year"
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"text": "IBNR"
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"text": "Reserves"
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"text": "December"
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"text": "31, 2019"
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"text": "Cumulative"
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"text": "Number of"
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"text": "Reported Claims"
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"ocr": false,
"ocr_confidence": 1,
"text": "2015 "
},
{
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"text": "$ 1,188 $ 1,202 $ 1,234 $ 1,283 $ 1,298 $ 48 173,545"
},
{
"bbox": [
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0.3307263278221899
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"ocr": false,
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"text": "2016 "
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"text": "1,278 1,303 1,371 1,409 94 183,114"
},
{
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0.3395741386315003,
0.11786245737814341,
0.34824649308078975
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"ocr": false,
"ocr_confidence": 1,
"text": "2017 "
},
{
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"text": "1,386 1,501 1,524 219 191,166"
},
{
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0.11773182005191893,
0.36581673240168766
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"text": "2018 "
},
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"text": "1,645 1,742 469 201,578"
},
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"text": "2019 "
},
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"text": "1,835 838 167,863"
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"text": "Total $ 7,808"
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"text": "Cumulative Paid Claims and Allocated Claim"
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"ocr": false,
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"text": "Adjustment Expenses, Net of Reinsurance"
},
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"ocr": false,
"ocr_confidence": 1,
"text": "Unaudited"
},
{
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"ocr": false,
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"text": "Liability for Claims"
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"text": "Accident Year "
},
{
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"text": "And Allocated Claim"
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"ocr": false,
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"text": "2015 "
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{
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"text": "$ 405 $ 650 $ 885 $ 1,058 $ 1,181 "
},
{
"bbox": [
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"ocr": false,
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"text": "Adjustment Expenses,"
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{
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"ocr": false,
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"text": "2016 "
},
{
"bbox": [
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"ocr": false,
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"text": "412 688 931 1,158 "
},
{
"bbox": [
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0.5409080643370479,
0.8771438341750841,
0.5480163731932332
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"ocr": false,
"ocr_confidence": 1,
"text": "Net of Reinsurance"
},
{
"bbox": [
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"ocr": false,
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"text": "2017 "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "456 746 1,027"
},
{
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"ocr": false,
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"text": "2018 "
},
{
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],
"ocr": false,
"ocr_confidence": 1,
"text": "515 848 "
},
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"ocr": false,
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"text": "2015 - Before"
},
{
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"text": "2019 "
},
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"ocr": false,
"ocr_confidence": 1,
"text": "539 "
},
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"text": "2019 "
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"text": "2015"
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"text": "Total $ 4,753 $ 3,055 $ 182"
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"text": "Total net liability "
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"text": "$ 3,237"
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"text": "Average Annual Percentage Payout of Incurred"
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"text": "Claims by Age, Net of Reinsurance"
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"ocr_confidence": 1,
"text": "Unaudited"
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"text": "Years "
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"text": "1 "
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"text": "2 "
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"text": "3 "
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"text": "4 "
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"text": "5"
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"text": "29.8% 19.2% 17.9% 14.7% 9.5%"
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] | [
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"label": "section_header",
"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"label": "section_header",
"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "7. INSURANCE CLAIM RESERVES (Continued)"
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"text": "Commercial Automobile"
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"html_seq": "<table><tr><td></td><th colspan=\"2\">For the Years Ended December 31,</th><td></td><td></td><td></td><td></td></tr><tr><td></td><th>2015</th><th>2016 2017 2018 2019</th><td></td><td></td><td></td><td></td></tr><tr><td></td><th colspan=\"5\">Incurred Claims and Allocated Claims Adjustment</th><td></td></tr><tr><td></td><th colspan=\"4\">Expenses, Net of Reinsurance</th><td></td><td></td></tr><tr><td></td><th colspan=\"4\">Unaudited</th><td></td><td></td></tr><tr><th>Accident Year</th><td></td><td></td><th>IBNR Reserves December 31, 2019</th><th>Cumulative Number of Reported Claims</th><td></td><td></td></tr><tr><td>2015</td><td></td><td>$ 1,188 $ 1,202 $ 1,234 $ 1,283 $ 1,298 $ 48 173,545</td><td></td><td></td><td></td><td></td></tr><tr><td>2016</td><td></td><td></td><td></td><td>1,278 1,303 1,371 1,409 94 183,114</td><td></td><td></td></tr><tr><td>2017</td><td></td><td></td><td></td><td>1,386 1,501 1,524 219 191,166</td><td></td><td></td></tr><tr><td>2018</td><td></td><td></td><td></td><td>1,645 1,742 469 201,578</td><td></td><td></td></tr><tr><td>2019</td><td></td><td></td><td></td><td>1,835 838 167,863</td><td></td><td></td></tr><tr><td></td><td></td><td>Total $ 7,808</td><td></td><td></td><td></td><td></td></tr><tr><td></td><th colspan=\"4\">Adjustment Expenses, Net of Reinsurance</th><td></td><td></td></tr><tr><td></td><th colspan=\"4\">Unaudited</th><td></td><td></td></tr><tr><td></td><td></td><td></td><th colspan=\"2\">Liability for Claims</th><td></td><td></td></tr><tr><th>Accident Year</th><td></td><td></td><th colspan=\"2\">And Allocated Claim</th><td></td><td></td></tr><tr><td>2015</td><td></td><td>$ 405 $ 650 $ 885 $ 1,058 $ 1,181</td><td colspan=\"2\">Adjustment Expenses,</td><td></td><td></td></tr><tr><td>2016</td><td></td><td>412 688 931 1,158</td><td colspan=\"2\">Net of Reinsurance</td><td></td><td></td></tr><tr><td>2017</td><td></td><td>456 746 1,027</td><td></td><td></td><td></td><td></td></tr><tr><td>2018</td><td></td><td>515 848</td><td></td><td>2015 - Before</td><td></td><td></td></tr><tr><td>2019</td><td></td><td>539</td><td>2019</td><td>2015</td><td></td><td></td></tr><tr><td></td><td></td><td>Total $ 4,753 $ 3,055 $ 182</td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td>Total net liability</td><td>$ 3,237</td><td></td><td></td></tr><tr><td></td><th colspan=\"6\">Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance</th></tr><tr><td></td><th colspan=\"6\">Unaudited</th></tr><tr><td>Years</td><td></td><th>1 2 3</th><th>4</th><th>5</th><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td>29.8% 19.2% 17.9% 14.7% 9.5%</td><td></td><td></td></tr></table>",
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-188 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 7. INSURANCE CLAIM RESERVES (Continued) Workers' Compensation (dollars in millions) 169 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "7. "
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"text": "INSURANCE CLAIM RESERVES (Continued)"
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"text": "Workers’ Compensation"
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"text": "(dollars in millions)"
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"text": "For the Years Ended December 31,"
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"text": "2010 2011 2012 2013 2014 2015 2016 2017 2018 2019"
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"text": "Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance"
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"text": "Unaudited"
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"text": "Accident"
},
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"text": "Year"
},
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"text": "IBNR"
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"text": "Reserves"
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"text": "December"
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"text": "31, 2019"
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{
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"text": "Cumulative"
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"text": "Number of"
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"text": "Reported"
},
{
"bbox": [
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"text": "Claims"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "2010 "
},
{
"bbox": [
0.15860573611275516,
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0.9127888791890256,
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"text": "$1,886 $2,042 $2,035 $2,056 $2,049 $2,052 $2,055 $2,021 $2,003 $ 1,984 $ 248 117,466"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "2011 "
},
{
"bbox": [
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0.30419535476723997,
0.9115640659524937,
0.31470996156835435
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,284 2,303 2,347 2,350 2,379 2,385 2,363 2,348 2,320 319 136,801"
},
{
"bbox": [
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0.3220288180565649,
0.1182707070501565,
0.33070117250585435
],
"ocr": false,
"ocr_confidence": 1,
"text": "2012 "
},
{
"bbox": [
0.28591412887830125,
0.3229938674650759,
0.9128541272095959,
0.33350847426619024
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,447 2,456 2,457 2,456 2,445 2,453 2,416 2,387 367 138,034"
},
{
"bbox": [
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0.34078971606508396,
0.11760118272569445,
0.34949968520369024
],
"ocr": false,
"ocr_confidence": 1,
"text": "2013 "
},
{
"bbox": [
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0.3417923407345163,
0.911564168705282,
0.35230694753563063
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,553 2,545 2,540 2,506 2,463 2,423 2,354 408 134,091"
},
{
"bbox": [
0.08652525237112334,
0.35962580402384126,
0.11823804450757576,
0.36829815847313063
],
"ocr": false,
"ocr_confidence": 1,
"text": "2014 "
},
{
"bbox": [
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0.3605907745755612,
0.9122173681805029,
0.37110538137667554
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,554 2,553 2,547 2,476 2,430 2,393 486 129,293"
},
{
"bbox": [
0.08652525237112334,
0.37826131973463745,
0.11766649496675742,
0.3871216293453246
],
"ocr": false,
"ocr_confidence": 1,
"text": "2015 "
},
{
"bbox": [
0.46554375337029147,
0.3793892084166061,
0.9122173681805029,
0.38990381521772044
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,644 2,585 2,505 2,441 2,372 636 123,163"
},
{
"bbox": [
0.08652525237112334,
0.3970973288366037,
0.11817271942241425,
0.40592006318636953
],
"ocr": false,
"ocr_confidence": 1,
"text": "2016 "
},
{
"bbox": [
0.5259646534518361,
0.3981876816860465,
0.9128542299623843,
0.40870228848716084
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,768 2,690 2,569 2,473 702 122,944"
},
{
"bbox": [
0.08652525237112334,
0.41602114497537146,
0.11786245737814341,
0.42469349942466084
],
"ocr": false,
"ocr_confidence": 1,
"text": "2017 "
},
{
"bbox": [
0.5847525034689341,
0.4169861155270914,
0.9126746180884364,
0.42750072232820574
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,779 2,681 2,584 918 120,900"
},
{
"bbox": [
0.08652525237112334,
0.43481957881641636,
0.11773182005191893,
0.44351697029685483
],
"ocr": false,
"ocr_confidence": 1,
"text": "2018 "
},
{
"bbox": [
0.6451733521740846,
0.43582216405745317,
0.9126745153356481,
0.44629919559764614
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,744 2,687 1,180 121,460"
},
{
"bbox": [
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0.45361805208585676,
0.11804208209618976,
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],
"ocr": false,
"ocr_confidence": 1,
"text": "2019 "
},
{
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],
"ocr": false,
"ocr_confidence": 1,
"text": "2,680 1,619 107,298"
},
{
"bbox": [
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0.7528270374644886,
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"ocr_confidence": 1,
"text": "Total $24,234"
},
{
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0.5285862964561128
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"text": "Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance"
},
{
"bbox": [
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0.5459209905422319,
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"ocr": false,
"ocr_confidence": 1,
"text": "Accident Year "
},
{
"bbox": [
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0.5459209905422319,
0.46369846742161197,
0.5530393142108769
],
"ocr": false,
"ocr_confidence": 1,
"text": "Unaudited"
},
{
"bbox": [
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"ocr": false,
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"text": "2010 "
},
{
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0.7624389442931924,
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"ocr": false,
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"text": "$ 341 $ 750 $ 978 $1,133 $1,246 $1,321 $1,385 $1,430 $1,465 $ 1,490"
},
{
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"ocr": false,
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"text": "2011 "
},
{
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],
"ocr": false,
"ocr_confidence": 1,
"text": "420 911 1,185 1,365 1,487 1,583 1,652 1,696 1,732"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "2012 "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "443 940 1,217 1,394 1,536 1,629 1,689 1,735"
},
{
"bbox": [
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0.6177536129027374,
0.11760118272569445,
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],
"ocr": false,
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"text": "2013 "
},
{
"bbox": [
0.36153817738748156,
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0.7624225038470644,
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],
"ocr": false,
"ocr_confidence": 1,
"text": "458 954 1,237 1,413 1,525 1,604 1,659 "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Liability for Claims"
},
{
"bbox": [
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"ocr": false,
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"text": "2014 "
},
{
"bbox": [
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0.7613283921572496,
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"ocr": false,
"ocr_confidence": 1,
"text": "455 944 1,224 1,399 1,505 1,581 "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "And Allocated Claim"
},
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"text": "2015 "
},
{
"bbox": [
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"ocr": false,
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"text": "430 893 1,154 1,310 1,411 "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Adjustment Expenses,"
},
{
"bbox": [
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"ocr": false,
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"text": "2016 "
},
{
"bbox": [
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0.7626511288010311,
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],
"ocr": false,
"ocr_confidence": 1,
"text": "421 873 1,118 1,272 "
},
{
"bbox": [
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0.677510126000535,
0.9000058158078178,
0.6846184545709181
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"ocr": false,
"ocr_confidence": 1,
"text": "Net of Reinsurance"
},
{
"bbox": [
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],
"ocr": false,
"ocr_confidence": 1,
"text": "2017 "
},
{
"bbox": [
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],
"ocr": false,
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"text": "433 890 1,154"
},
{
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0.11773182005191893,
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"text": "2018 "
},
{
"bbox": [
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0.7625042436901568,
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"text": "440 919 "
},
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],
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"text": "2010 - Before"
},
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],
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"text": "2019 "
},
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"text": "466 "
},
{
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"ocr_confidence": 1,
"text": "2019 2010"
},
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0.9126647538207597,
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"text": "Total $ 13,419 $ 10,815 $ 5,369"
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"text": "Total net liability "
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"text": "$ 16,184"
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"text": "Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance"
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"text": "Unaudited"
},
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"text": "YeYears 12345678 9 10"
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"ocr_confidence": 1,
"text": "17.8% 19.7% 11.2% 7.2% 5.1% 3.7% 2.8% 2.0% 1.7% 1.3%"
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "7. INSURANCE CLAIM RESERVES (Continued)"
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"text": "Workers' Compensation"
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"text": "(dollars in millions)"
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"html_seq": "<table><tr><td></td><th colspan=\"3\">Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance</th></tr><tr><th>Accident Year</th><th colspan=\"3\">Unaudited</th></tr><tr><td>2010</td><td></td><td>$ 341 $ 750 $ 978 $1,133 $1,246 $1,321 $1,385 $1,430 $1,465 $ 1,490</td><td></td></tr><tr><td>2011</td><td></td><td>420 911 1,185 1,365 1,487 1,583 1,652 1,696 1,732</td><td></td></tr><tr><td>2012</td><td></td><td>443 940 1,217 1,394 1,536 1,629 1,689 1,735</td><td></td></tr><tr><td>2013</td><td></td><td>458 954 1,237 1,413 1,525 1,604 1,659</td><td>Liability for Claims</td></tr><tr><td>2014</td><td></td><td>455 944 1,224 1,399 1,505 1,581</td><td>And Allocated Claim</td></tr><tr><td>2015</td><td></td><td>430 893 1,154 1,310 1,411</td><td>Adjustment Expenses,</td></tr><tr><td>2016</td><td></td><td>421 873 1,118 1,272</td><td>Net of Reinsurance</td></tr><tr><td>2017</td><td></td><td>433 890 1,154</td><td></td></tr><tr><td>2018</td><td></td><td>440 919</td><td></td></tr><tr><td>2019</td><td></td><td>466</td><td></td></tr><tr><td></td><td></td><td>Total $ 13,419 $ 10,815 $ 5,369</td><td></td></tr><tr><td></td><td></td><td>Total net liability</td><td></td></tr></table>",
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-189 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 7. INSURANCE CLAIM RESERVES (Continued) Bond & Specialty Insurance General Liability (dollars in millions) 170 | [
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"text": "Bond & Specialty Insurance"
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"text": "(dollars in millions)"
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"text": "For the Years Ended December 31,"
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"text": "2010 2011 2012 2013 2014 2015 2016 2017 2018 2019"
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"text": "Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance"
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"text": "Unaudited"
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"text": "Accident"
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"text": "Year"
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"text": "IBNR"
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"text": "Reserves"
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"text": "December"
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"text": "31, 2019"
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"text": "Cumulative"
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"text": "Number of"
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"text": "Reported"
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"text": "Claims"
},
{
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"text": "2010 "
},
{
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"text": "$ 571 $ 612 $ 679 $ 679 $ 661 $ 668 $ 653 $ 653 $ 657 $ 660 $ 16 5,677"
},
{
"bbox": [
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"ocr": false,
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"text": "2011 "
},
{
"bbox": [
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],
"ocr": false,
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"text": "565 596 639 632 601 545 520 508 506 2 5,213"
},
{
"bbox": [
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"text": "2012 "
},
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"ocr": false,
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"text": "538 591 614 605 601 599 605 593 60 4,865"
},
{
"bbox": [
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"text": "2013 "
},
{
"bbox": [
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],
"ocr": false,
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"text": "510 565 606 630 654 607 586 42 4,456"
},
{
"bbox": [
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"text": "2014 "
},
{
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],
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"text": "549 571 563 518 473 452 32 4,356"
},
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"text": "2015 "
},
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"bbox": [
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0.4193043868979126,
0.9123643046677715,
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"ocr": false,
"ocr_confidence": 1,
"text": "528 524 486 437 395 38 4,195"
},
{
"bbox": [
0.08652525237112334,
0.4370125073179102,
0.11817271942241425,
0.445835241667676
],
"ocr": false,
"ocr_confidence": 1,
"text": "2016 "
},
{
"bbox": [
0.5431437379984744,
0.43810286016735306,
0.9128705676557239,
0.4486174669684674
],
"ocr": false,
"ocr_confidence": 1,
"text": "512 511 504 520 91 4,326"
},
{
"bbox": [
0.08652525237112334,
0.45593632345667795,
0.11786245737814341,
0.4646086779059674
],
"ocr": false,
"ocr_confidence": 1,
"text": "2017 "
},
{
"bbox": [
0.6019316393919666,
0.4569012940083979,
0.9123643046677715,
0.4674159008095123
],
"ocr": false,
"ocr_confidence": 1,
"text": "534 517 526 174 4,455"
},
{
"bbox": [
0.08652525237112334,
0.47473475729772285,
0.11773182005191893,
0.4834321487781613
],
"ocr": false,
"ocr_confidence": 1,
"text": "2018 "
},
{
"bbox": [
0.6623525394735111,
0.47569976727783836,
0.9122990566472011,
0.4862143740789527
],
"ocr": false,
"ocr_confidence": 1,
"text": "530 548 243 4,393"
},
{
"bbox": [
0.08652525237112334,
0.49353323056716325,
0.11804208209618976,
0.5023810413764737
],
"ocr": false,
"ocr_confidence": 1,
"text": "2019 "
},
{
"bbox": [
0.7342860160853325,
0.49449820111888326,
0.9127562038023463,
0.5050128079199976
],
"ocr": false,
"ocr_confidence": 1,
"text": "588 432 3,400"
},
{
"bbox": [
0.6538119845920138,
0.5127828041096374,
0.75772608490504,
0.5238112417610424
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total $ 5,374"
},
{
"bbox": [
0.2242619935109559,
0.5595183853031129,
0.7141217575330124,
0.5685015143658148
],
"ocr": false,
"ocr_confidence": 1,
"text": "Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance"
},
{
"bbox": [
0.08626724654175216,
0.5758103560415657,
0.13529634315156777,
0.5828785662195172
],
"ocr": false,
"ocr_confidence": 1,
"text": "Accident"
},
{
"bbox": [
0.08622805919711438,
0.585836208451934,
0.11187393496734928,
0.5928944038174258
],
"ocr": false,
"ocr_confidence": 1,
"text": "Year "
},
{
"bbox": [
0.40377404312493426,
0.585836208451934,
0.4620654687335596,
0.592954532120579
],
"ocr": false,
"ocr_confidence": 1,
"text": "Unaudited"
},
{
"bbox": [
0.08652525237112334,
0.6013112622638082,
0.11805841978952941,
0.6099836167130975
],
"ocr": false,
"ocr_confidence": 1,
"text": "2010 "
},
{
"bbox": [
0.1684037025528725,
0.6017624019652374,
0.7686607283775253,
0.6121015524063308
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 33 $ 152 $ 291 $ 396 $ 482 $ 565 $ 597 $ 623 $ 631 $ 635"
},
{
"bbox": [
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0.620109696104853,
0.11663770836210412,
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],
"ocr": false,
"ocr_confidence": 1,
"text": "2011 "
},
{
"bbox": [
0.25101699572219593,
0.6211122813458898,
0.7691667858599011,
0.6300854350245276
],
"ocr": false,
"ocr_confidence": 1,
"text": "33 143 249 324 414 447 476 490 496"
},
{
"bbox": [
0.08652525237112334,
0.6389081693742934,
0.1182707070501565,
0.6475805238235829
],
"ocr": false,
"ocr_confidence": 1,
"text": "2012 "
},
{
"bbox": [
0.313152531582097,
0.6398731399260134,
0.7685952748513784,
0.6488838688655725
],
"ocr": false,
"ocr_confidence": 1,
"text": "38 160 255 342 383 419 436 453"
},
{
"bbox": [
0.08652525237112334,
0.6576689885260215,
0.11760118272569445,
0.6663789576646277
],
"ocr": false,
"ocr_confidence": 1,
"text": "2013 "
},
{
"bbox": [
0.3735733545990504,
0.6586716131954539,
0.7679420753761574,
0.667531922806141
],
"ocr": false,
"ocr_confidence": 1,
"text": "34 154 252 352 400 434 451 "
},
{
"bbox": [
0.7953992130780461,
0.6610301803864866,
0.9050215904158775,
0.6700133291633862
],
"ocr": false,
"ocr_confidence": 1,
"text": "Liability for Claims"
},
{
"bbox": [
0.08652525237112334,
0.6765049187711967,
0.11823804450757576,
0.6851772732204862
],
"ocr": false,
"ocr_confidence": 1,
"text": "2014 "
},
{
"bbox": [
0.4356272790568445,
0.6774699090371145,
0.7688565238156303,
0.6864806182624758
],
"ocr": false,
"ocr_confidence": 1,
"text": "38 150 239 312 367 407 "
},
{
"bbox": [
0.7920516299880314,
0.6798285945133338,
0.9087847057817761,
0.6869469576103743
],
"ocr": false,
"ocr_confidence": 1,
"text": "And Allocated Claim"
},
{
"bbox": [
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],
"ocr": false,
"ocr_confidence": 1,
"text": "2015 "
},
{
"bbox": [
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0.6963936857474867,
0.7687258736453072,
0.705128691917242
],
"ocr": false,
"ocr_confidence": 1,
"text": "38 141 234 310 338 "
},
{
"bbox": [
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0.6986270480685763,
0.9124328407775674,
0.7076102165596738
],
"ocr": false,
"ocr_confidence": 1,
"text": "Adjustment Expenses,"
},
{
"bbox": [
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0.7139764830123546,
0.11817271942241425,
0.7227992173621205
],
"ocr": false,
"ocr_confidence": 1,
"text": "2016 "
},
{
"bbox": [
0.5581020265315919,
0.7151921195885316,
0.7685952234749842,
0.7239020690129401
],
"ocr": false,
"ocr_confidence": 1,
"text": "30 141 233 313 "
},
{
"bbox": [
0.7970878010245686,
0.7174254819096213,
0.9032718131839226,
0.7245338104800044
],
"ocr": false,
"ocr_confidence": 1,
"text": "Net of Reinsurance"
},
{
"bbox": [
0.08652525237112334,
0.7329002597227269,
0.11786245737814341,
0.7415726141720164
],
"ocr": false,
"ocr_confidence": 1,
"text": "2017 "
},
{
"bbox": [
0.6185229779895307,
0.7338652499886447,
0.7692648633963332,
0.7427255793135296
],
"ocr": false,
"ocr_confidence": 1,
"text": "38 155 262"
},
{
"bbox": [
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0.7516987132779696,
0.11773182005191893,
0.7603961244726057
],
"ocr": false,
"ocr_confidence": 1,
"text": "2018 "
},
{
"bbox": [
0.6816872747658881,
0.7528266216741359,
0.7692649147727273,
0.7616744127692486
],
"ocr": false,
"ocr_confidence": 1,
"text": "49 182 "
},
{
"bbox": [
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0.7550424580734213,
0.9051706847117004,
0.7620906189122557
],
"ocr": false,
"ocr_confidence": 1,
"text": "2010 - Before"
},
{
"bbox": [
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0.7704971668332122,
0.11804208209618976,
0.7793449579283248
],
"ocr": false,
"ocr_confidence": 1,
"text": "2019 "
},
{
"bbox": [
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0.7714621570991299,
0.7679421267525516,
0.7803224864240148
],
"ocr": false,
"ocr_confidence": 1,
"text": "51 "
},
{
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0.7738509264411236,
0.8997445154671717,
0.780879037940841
],
"ocr": false,
"ocr_confidence": 1,
"text": "2019 2010"
},
{
"bbox": [
0.6652429240319865,
0.7897468783750706,
0.9124361288667929,
0.800775296312278
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"ocr": false,
"ocr_confidence": 1,
"text": "Total $ 3,588 $ 1,786 $ 38"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "Total net liability "
},
{
"bbox": [
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0.9128541272095959,
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"ocr": false,
"ocr_confidence": 1,
"text": "$ 1,824"
},
{
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0.8632186377079296
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"ocr": false,
"ocr_confidence": 1,
"text": "Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance"
},
{
"bbox": [
0.5221695305923821,
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"ocr": false,
"ocr_confidence": 1,
"text": "Unaudited"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "YeYears 12345678 9 10"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "7.2% 22.1% 19.5% 16.2% 10.9% 7.9% 4.1% 3.1% 1.2% 0.6%"
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] | [
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"label": "section_header",
"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"label": "section_header",
"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"label": "section_header",
"text": "7. INSURANCE CLAIM RESERVES (Continued)"
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"text": "Bond & Specialty Insurance"
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"text": "General Liability"
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"text": "(dollars in millions)"
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"html_seq": "<table><tr><td></td><th colspan=\"4\">Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance</th></tr><tr><th>Accident Year</th><th colspan=\"4\">Unaudited</th></tr><tr><td>2010</td><td></td><td>$ 33 $ 152 $ 291 $ 396 $ 482 $ 565 $ 597 $ 623 $ 631 $ 635</td><td></td><td></td></tr><tr><td>2011</td><td></td><td>33 143 249 324 414 447 476 490 496</td><td></td><td></td></tr><tr><td>2012</td><td></td><td>38 160 255 342 383 419 436 453</td><td></td><td></td></tr><tr><td>2013</td><td></td><td>34 154 252 352 400 434 451</td><td colspan=\"2\">Liability for Claims</td></tr><tr><td>2014</td><td></td><td>38 150 239 312 367 407</td><td colspan=\"2\">And Allocated Claim</td></tr><tr><td>2015</td><td></td><td>38 141 234 310 338</td><td colspan=\"2\">Adjustment Expenses,</td></tr><tr><td>2016</td><td></td><td>30 141 233 313</td><td colspan=\"2\">Net of Reinsurance</td></tr><tr><td>2017</td><td></td><td>38 155 262</td><td></td><td></td></tr><tr><td>2018</td><td></td><td>49 182</td><td></td><td>2010 - Before</td></tr><tr><td>2019</td><td></td><td>51</td><td></td><td>2019 2010</td></tr><tr><td></td><td></td><td></td><td>Total $ 3,588 $ 1,786 $ 38</td><td></td></tr><tr><td></td><td></td><td colspan=\"2\">Total net liability</td><td>$ 1,824</td></tr></table>",
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"html_seq": "<table><tr><th colspan=\"3\">Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance Unaudited</th></tr><tr><td></td><td></td><th>YeYears 12345678 9 10</th></tr><tr><td></td><td>7.2% 22.1% 19.5% 16.2% 10.9% 7.9% 4.1% 3.1% 1.2% 0.6%</td><td></td></tr></table>",
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-190 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 7. INSURANCE CLAIM RESERVES (Continued) Fidelity and Surety 171 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "For the Years Ended December 31,"
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"text": "2015 2016 2017 2018 2019"
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"text": "IBNR Reserves"
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"text": "December 31,"
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"text": "2019"
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"text": "Cumulative"
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"text": "Number of"
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"text": "Reported Claims"
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"text": "Incurred Claims and Allocated Claims Adjustment"
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"text": "Expenses, Net of Reinsurance"
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"text": "Accident Year "
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"text": "Unaudited"
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"text": "2015 $ 217 $ 191 $ 179 $ 145 $ 137 $ 32 "
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"text": "834"
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"text": "2016 "
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"text": "226 239 205 208 "
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"text": "9 "
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"text": "886"
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"text": "244 271 240 "
},
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0.8002917357165404,
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"text": "22 "
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"text": "905"
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"text": "2018 "
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"text": "220 235 "
},
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"text": "22 "
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"text": "849"
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0.1800958781129985,
0.3383960970304425
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"text": "2019 "
},
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0.32951067153181524,
0.6869454432015467,
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"text": "203 "
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0.8001937609328966,
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"text": "116 "
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"text": "592"
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"text": "Total $ 1,023"
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"text": "Cumulative Paid Claims and Allocated Claim"
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"ocr": false,
"ocr_confidence": 1,
"text": "Adjustment Expenses, Net of Reinsurance"
},
{
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"text": "Accident Year "
},
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"text": "Unaudited "
},
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"text": "Liability for Claims"
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"text": "And Allocated Claim"
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"text": "2015 "
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"text": "$ 32 $ 75 $ 87 $ 86 $ 88 "
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"text": "Adjustment Expenses,"
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"text": "2016 "
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{
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"text": "54 121 142 149 "
},
{
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"ocr": false,
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"text": "Net of Reinsurance"
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"text": "2017 "
},
{
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"text": "70 166 194"
},
{
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"text": "2018 "
},
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"text": "64 171 "
},
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"text": "2015 - "
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"ocr": false,
"ocr_confidence": 1,
"text": "Before"
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"ocr": false,
"ocr_confidence": 1,
"text": "2019 "
},
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"text": "49 "
},
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"ocr": false,
"ocr_confidence": 1,
"text": "2019 "
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"text": "2015"
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"text": "Total $ 651 $ 372 $ 27"
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"text": "Total net liability "
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"text": "$ 399"
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"text": "Average Annual Percentage Payout of Incurred"
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"ocr": false,
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"text": "Claims by Age, Net of Reinsurance"
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"text": "Unaudited"
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"text": "Years "
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"text": "1 "
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"text": "2 "
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"text": "3 "
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"text": "4 "
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"text": "5"
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"text": "26.0% 37.3% 10.1% 1.3% 1.3%"
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "7. INSURANCE CLAIM RESERVES (Continued)"
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"text": "Fidelity and Surety"
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"html_seq": "<table><tr><td></td><th colspan=\"5\">(dollars in millions) For the Years Ended December 31,</th></tr><tr><td></td><td></td><th>2015 2016 2017 2018 2019</th><td></td><td></td><td></td></tr><tr><td></td><th colspan=\"5\">Incurred Claims and Allocated Claims Adjustment</th></tr><tr><td></td><th colspan=\"5\">Expenses, Net of Reinsurance</th></tr><tr><th>Accident Year</th><th colspan=\"4\">Unaudited</th><th>Reported Claims</th></tr><tr><td></td><td></td><td></td><td></td><td>2015 $ 217 $ 191 $ 179 $ 145 $ 137 $ 32</td><td>834</td></tr><tr><td>2016</td><td></td><td></td><td>226 239 205 208</td><td>9</td><td>886</td></tr><tr><td>2017</td><td></td><td></td><td>244 271 240</td><td>22</td><td>905</td></tr><tr><td>2018</td><td></td><td></td><td>220 235</td><td>22</td><td>849</td></tr><tr><td>2019</td><td></td><td></td><td>203</td><td>116</td><td>592</td></tr><tr><td></td><td></td><td></td><td>Total $ 1,023</td><td></td><td></td></tr><tr><td></td><th colspan=\"5\">Cumulative Paid Claims and Allocated Claim</th></tr><tr><td></td><th colspan=\"4\">Adjustment Expenses, Net of Reinsurance</th><td></td></tr><tr><th>Accident Year</th><th colspan=\"4\">Unaudited</th><th colspan=\"2\">Liability for Claims</th></tr><tr><td>2015</td><td></td><td></td><td>$ 32 $ 75 $ 87 $ 86 $ 88</td><td colspan=\"2\">Adjustment Expenses,</td></tr><tr><td>2016</td><td></td><td></td><td>54 121 142 149</td><td colspan=\"2\">Net of Reinsurance</td></tr><tr><td>2017</td><td></td><td></td><td>70 166 194</td><td></td><td></td></tr><tr><td>2018</td><td></td><td></td><td>64 171</td><td>2015 -</td><td>Before</td></tr><tr><td>2019</td><td></td><td></td><td>49</td><td>2019</td><td>2015</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Total $ 651 $ 372 $ 27</td></tr><tr><td></td><td></td><td></td><td></td><td>Total net liability</td><td>$ 399</td></tr><tr><td></td><td></td><th colspan=\"4\">Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance</th></tr><tr><td>Years</td><td></td><td>1</td><th>3</th><td>2</td><th>4 5</th></tr><tr><td></td><td></td><td></td><td></td><td></td><th>26.0% 37.3% 10.1% 1.3% 1.3%</th></tr></table>",
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-191 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 7. INSURANCE CLAIM RESERVES (Continued) Personal Insurance Automobile 172 | [
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"text": "(dollars in millions)"
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"text": "For the Years Ended December 31,"
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"text": "2015 2016 2017 2018 2019"
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"text": "IBNR Reserves"
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"text": "December 31,"
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"text": "2019"
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"ocr_confidence": 1,
"text": "Cumulative"
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"text": "Number of"
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"ocr": false,
"ocr_confidence": 1,
"text": "Reported Claims"
},
{
"bbox": [
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"text": "Incurred Claims and Allocated Claims Adjustment"
},
{
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"text": "Expenses, Net of Reinsurance"
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"ocr": false,
"ocr_confidence": 1,
"text": "Accident Year "
},
{
"bbox": [
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0.2737794230458656,
0.4571665240457965,
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"ocr": false,
"ocr_confidence": 1,
"text": "Unaudited"
},
{
"bbox": [
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"text": "2015 $ 2,186 $ 2,244 $ 2,236 $ 2,222 $ 2,219 $ 11 757,972"
},
{
"bbox": [
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0.18022659250381418,
0.3154995546168443
],
"ocr": false,
"ocr_confidence": 1,
"text": "2016 "
},
{
"bbox": [
0.38070961281105326,
0.30663904786417956,
0.6876149803701074,
0.31715365466529394
],
"ocr": false,
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"text": "2,779 2,791 2,772 2,752 "
},
{
"bbox": [
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0.30680196599442827,
0.9129359184290825,
0.31715365466529394
],
"ocr": false,
"ocr_confidence": 1,
"text": "44 922,014"
},
{
"bbox": [
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0.3243472077125727,
0.17991630477134626,
0.33301956216186207
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"ocr": false,
"ocr_confidence": 1,
"text": "2017 "
},
{
"bbox": [
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0.32418421072553294,
0.6862922437263258,
0.33469881752664726
],
"ocr": false,
"ocr_confidence": 1,
"text": "3,323 3,256 3,221 "
},
{
"bbox": [
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0.3242218254148498,
0.9125602542350589,
0.33469881752664726
],
"ocr": false,
"ocr_confidence": 1,
"text": "139 1,061,907"
},
{
"bbox": [
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0.341892370573926,
0.1797856032246291,
0.3505897620543645
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"ocr": false,
"ocr_confidence": 1,
"text": "2018 "
},
{
"bbox": [
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0.3417671459897852,
0.6873863040397464,
0.3522441775299782
],
"ocr": false,
"ocr_confidence": 1,
"text": "3,281 3,269 "
},
{
"bbox": [
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0.3418548741697957,
0.9129358156762942,
0.3522441775299782
],
"ocr": false,
"ocr_confidence": 1,
"text": "347 1,048,084"
},
{
"bbox": [
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0.3594376911488614,
0.1800958524248014,
0.36828550195817183
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"text": "2019 "
},
{
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0.35931238770792956,
0.6876149803701074,
0.3697894192481226
],
"ocr": false,
"ocr_confidence": 1,
"text": "3,362 "
},
{
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0.9122989538944128,
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"ocr": false,
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"text": "858 940,933"
},
{
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0.6869519680036037,
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"text": "Total $ 14,823"
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{
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"ocr": false,
"ocr_confidence": 1,
"text": "Cumulative Paid Claims and Allocated Claim"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Adjustment Expenses, Net of Reinsurance"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Accident Year "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "Unaudited "
},
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"text": "Liability for Claims"
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"text": "And Allocated Claim"
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"text": "2015 $ 1,319 $ 1,768 $ 1,985 $ 2,109 $ 2,174 "
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{
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"ocr": false,
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"text": "Adjustment Expenses,"
},
{
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"text": "2016 "
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{
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"ocr": false,
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"text": "1,610 2,203 2,466 2,616 "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Net of Reinsurance"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "2017 "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "1,912 2,575 2,887"
},
{
"bbox": [
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0.5348899506167232,
0.17978568028922032,
0.5435873420971616
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"ocr": false,
"ocr_confidence": 1,
"text": "2018 "
},
{
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0.6876149289937131,
0.5452416392875888
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"ocr": false,
"ocr_confidence": 1,
"text": "1,889 2,582 "
},
{
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0.5369903406739543,
0.7693562620015256,
0.5440184521736716
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"ocr": false,
"ocr_confidence": 1,
"text": "2015 - "
},
{
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0.5440284669861313
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"ocr": false,
"ocr_confidence": 1,
"text": "Before"
},
{
"bbox": [
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0.5612829637157825
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"ocr": false,
"ocr_confidence": 1,
"text": "2019 "
},
{
"bbox": [
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0.5523975382171552,
0.6869454432015467,
0.5627868415773377
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"ocr": false,
"ocr_confidence": 1,
"text": "1,933 "
},
{
"bbox": [
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0.5545355823920987,
0.7658126265914352,
0.561563693891816
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"ocr": false,
"ocr_confidence": 1,
"text": "2019 "
},
{
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0.8784632827296401,
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"ocr": false,
"ocr_confidence": 1,
"text": "2015"
},
{
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0.5693037245008681,
0.9116522278448548,
0.5803321621522731
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"text": "Total $ 12,192 $ 2,631 $ 231"
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"ocr": false,
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"text": "Total net liability "
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"text": "$ 2,862"
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"text": "Average Annual Percentage Payout of Incurred"
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"ocr": false,
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"text": "Claims by Age, Net of Reinsurance"
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"text": "Unaudited"
},
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"text": "YeYears "
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"text": "12345"
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"text": "58.5% 20.9% 9.7% 5.5% 2.9%"
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "7. INSURANCE CLAIM RESERVES (Continued)"
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"text": "Personal Insurance"
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"text": "Automobile"
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"html_seq": "<table><tr><td></td><th colspan=\"3\">(dollars in millions) For the Years Ended December 31,</th></tr><tr><td></td><td></td><th>2015 2016 2017 2018 2019</th><td></td></tr><tr><td></td><th colspan=\"3\">Incurred Claims and Allocated Claims Adjustment</th></tr><tr><td></td><th colspan=\"3\">Expenses, Net of Reinsurance</th></tr><tr><th>Accident Year</th><th colspan=\"3\">Unaudited</th></tr><tr><td></td><td></td><td>2015 $ 2,186 $ 2,244 $ 2,236 $ 2,222 $ 2,219 $ 11 757,972</td><td></td></tr><tr><td>2016</td><td></td><td>2,779 2,791 2,772 2,752</td><td>44 922,014</td></tr><tr><td>2017</td><td></td><td>3,323 3,256 3,221</td><td>139 1,061,907</td></tr><tr><td>2018</td><td></td><td>3,281 3,269</td><td>347 1,048,084</td></tr><tr><td>2019</td><td></td><td>3,362</td><td>858 940,933</td></tr><tr><td></td><td></td><td>Total $ 14,823</td><td></td></tr></table>",
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-192 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 7. INSURANCE CLAIM RESERVES (Continued) Homeowners (excluding Other) 173 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "INSURANCE CLAIM RESERVES (Continued)"
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"text": "Homeowners (excluding Other)"
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"text": "(dollars in millions)"
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"text": "For the Years Ended December 31,"
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"text": "2015 2016 2017 2018 2019"
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"text": "IBNR Reserves"
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"text": "December 31,"
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"text": "2019"
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"text": "Cumulative"
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"text": "Number of"
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"text": "Reported Claims"
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0.22045961522932817
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"ocr": false,
"ocr_confidence": 1,
"text": "Incurred Claims and Allocated Claims Adjustment"
},
{
"bbox": [
0.3916898785215436,
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0.5559432418258102,
0.23551850232659077
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"text": "Expenses, Net of Reinsurance"
},
{
"bbox": [
0.08626728507404777,
0.24263674713844477,
0.16399922997060448,
0.24970499674479166
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"ocr": false,
"ocr_confidence": 1,
"text": "Accident Year "
},
{
"bbox": [
0.3988750727489741,
0.24263674713844477,
0.4571665240457965,
0.24975514966388082
],
"ocr": false,
"ocr_confidence": 1,
"text": "Unaudited"
},
{
"bbox": [
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"text": "2015 $ 1,438 $ 1,454 $ 1,461 $ 1,452 $ 1,443 $ 1 145,136"
},
{
"bbox": [
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0.2755340655028666,
0.18022659250381418,
0.2843567998526324
],
"ocr": false,
"ocr_confidence": 1,
"text": "2016 "
},
{
"bbox": [
0.38203234945483483,
0.27549645081354973,
0.6862922437263258,
0.2860110576146641
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,556 1,547 1,525 1,511 "
},
{
"bbox": [
0.7934168549097749,
0.2756218331112726,
0.9127398661090067,
0.2860110576146641
],
"ocr": false,
"ocr_confidence": 1,
"text": "8 143,949"
},
{
"bbox": [
0.14857909334227692,
0.2932046106619428,
0.17991630477134626,
0.30187696511123224
],
"ocr": false,
"ocr_confidence": 1,
"text": "2017 "
},
{
"bbox": [
0.4688913878367003,
0.29316699597262597,
0.6869454432015467,
0.30355622047601744
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,312 2,340 2,343 "
},
{
"bbox": [
0.7845659352312184,
0.2930416136749031,
0.9123643046677715,
0.30355622047601744
],
"ocr": false,
"ocr_confidence": 1,
"text": "49 169,085"
},
{
"bbox": [
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0.3107497735232962,
0.1797856032246291,
0.31944720443213015
],
"ocr": false,
"ocr_confidence": 1,
"text": "2018 "
},
{
"bbox": [
0.5603391602384522,
0.3105869342498385,
0.687582304983428,
0.32110154105095284
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,610 2,574 "
},
{
"bbox": [
0.7780339404790089,
0.3105869342498385,
0.9129358156762942,
0.32110154105095284
],
"ocr": false,
"ocr_confidence": 1,
"text": "112 185,384"
},
{
"bbox": [
0.14857901627768572,
0.3282950940982316,
0.1800958524248014,
0.337142904907542
],
"ocr": false,
"ocr_confidence": 1,
"text": "2019 "
},
{
"bbox": [
0.6517869840165983,
0.32829501524144056,
0.6872066921657987,
0.3386467433407017
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,297 "
},
{
"bbox": [
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0.32813209711119184,
0.9124296554411301,
0.3386467433407017
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"ocr": false,
"ocr_confidence": 1,
"text": "447 158,328"
},
{
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0.3451635868358366,
0.6870826181739268,
0.3561920244872416
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"text": "Total $ 10,168"
},
{
"bbox": [
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0.3917737068747981,
0.6007689402159617,
0.39889203054344313
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"ocr": false,
"ocr_confidence": 1,
"text": "Cumulative Paid Claims and Allocated Claim"
},
{
"bbox": [
0.35702134463120794,
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0.5905529497448443,
0.41704880667595284
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"ocr": false,
"ocr_confidence": 1,
"text": "Adjustment Expenses, Net of Reinsurance"
},
{
"bbox": [
0.0862705025207314,
0.4243576877800993,
0.16400244099523884,
0.4314258979580507
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"ocr": false,
"ocr_confidence": 1,
"text": "Accident Year "
},
{
"bbox": [
0.3988783094618056,
0.4243576877800993,
0.4571697607586279,
0.43147601144874437
],
"ocr": false,
"ocr_confidence": 1,
"text": "Unaudited "
},
{
"bbox": [
0.7545743486295244,
0.4243576877800993,
0.86419677734375,
0.4333408168428012
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"ocr": false,
"ocr_confidence": 1,
"text": "Liability for Claims"
},
{
"bbox": [
0.7512267141631155,
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0.8679597899568603,
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"ocr_confidence": 1,
"text": "And Allocated Claim"
},
{
"bbox": [
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"ocr": false,
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"text": "2015 "
},
{
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"ocr_confidence": 1,
"text": "$ 994 $ 1,333 $ 1,395 $ 1,421 $ 1,429 "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Adjustment Expenses,"
},
{
"bbox": [
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],
"ocr": false,
"ocr_confidence": 1,
"text": "2016 "
},
{
"bbox": [
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0.47588799843800467,
0.6873863554161406,
0.48640260523911905
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"ocr": false,
"ocr_confidence": 1,
"text": "1,049 1,392 1,455 1,479 "
},
{
"bbox": [
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0.47824656562903745,
0.8624468973590067,
0.48535487448522285
],
"ocr": false,
"ocr_confidence": 1,
"text": "Net of Reinsurance"
},
{
"bbox": [
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0.502393816176619
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"ocr": false,
"ocr_confidence": 1,
"text": "2017 "
},
{
"bbox": [
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0.49468647170744506,
0.6872067435421928,
0.5052010785085594
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"ocr": false,
"ocr_confidence": 1,
"text": "1,471 2,059 2,197"
},
{
"bbox": [
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0.5125198955683745,
0.17978568028922032,
0.521217287048813
],
"ocr": false,
"ocr_confidence": 1,
"text": "2018 "
},
{
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0.51348490554849,
0.6870760419954756,
0.5239995123496043
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,657 2,298 "
},
{
"bbox": [
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0.5158735566052972,
0.7693562620015256,
0.5229016681050145
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"ocr": false,
"ocr_confidence": 1,
"text": "2015 - "
},
{
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0.5229116829174741
],
"ocr": false,
"ocr_confidence": 1,
"text": "Before"
},
{
"bbox": [
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0.5401661796471253
],
"ocr": false,
"ocr_confidence": 1,
"text": "2019 "
},
{
"bbox": [
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0.6869454432015467,
0.5427979461906492
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,613 "
},
{
"bbox": [
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0.5346720298747376,
0.7658126265914352,
0.541700141374455
],
"ocr": false,
"ocr_confidence": 1,
"text": "2019 "
},
{
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0.5346720298747376,
0.8784632827296401,
0.541700141374455
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"ocr": false,
"ocr_confidence": 1,
"text": "2015"
},
{
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0.550567942380289,
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"ocr": false,
"ocr_confidence": 1,
"text": "Total $ 9,016 $ 1,152 $ 16"
},
{
"bbox": [
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"ocr": false,
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"text": "Total net liability "
},
{
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"text": "$ 1,168"
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{
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"ocr": false,
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"text": "Average Annual Percentage Payout of Incurred"
},
{
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"ocr": false,
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"text": "Claims by Age, Net of Reinsurance"
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"ocr_confidence": 1,
"text": "Unaudited"
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0.6551399723811975,
0.11689575914582018,
0.6621981677466893
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"ocr": false,
"ocr_confidence": 1,
"text": "YeYears "
},
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"text": "12345"
},
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"text": "67.1% 24.1% 4.8% 1.7% 0.6%"
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"label": "section_header",
"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"label": "section_header",
"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"label": "section_header",
"text": "7. INSURANCE CLAIM RESERVES (Continued)"
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"text": "Homeowners (excluding Other)"
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"html_seq": "<table><tr><td></td><th colspan=\"2\">(dollars in millions)</th><td></td><td></td></tr><tr><td></td><th colspan=\"4\">For the Years Ended December 31,</th></tr><tr><td></td><td></td><th>2015 2016 2017 2018 2019</th><td></td><td></td></tr><tr><td></td><th colspan=\"4\">Incurred Claims and Allocated Claims Adjustment</th></tr><tr><td></td><th colspan=\"4\">Expenses, Net of Reinsurance</th></tr><tr><th>Accident Year</th><th colspan=\"4\">Unaudited</th></tr><tr><td></td><td></td><td>2015 $ 1,438 $ 1,454 $ 1,461 $ 1,452 $ 1,443 $ 1 145,136</td><td></td><td></td></tr><tr><td>2016</td><td></td><td>1,556 1,547 1,525 1,511</td><td>8 143,949</td><td></td></tr><tr><td>2017</td><td></td><td>2,312 2,340 2,343</td><td>49 169,085</td><td></td></tr><tr><td>2018</td><td></td><td>2,610 2,574</td><td>112 185,384</td><td></td></tr><tr><td>2019</td><td></td><td>2,297</td><td>447 158,328</td><td></td></tr><tr><td></td><td></td><td>Total $ 10,168</td><td></td><td></td></tr></table>",
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"html_seq": "<table><tr><td></td><th colspan=\"4\">Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance</th></tr><tr><th>Accident Year</th><th colspan=\"4\">Unaudited</th><th colspan=\"2\">Liability for Claims</th></tr><tr><td>2015</td><td></td><td>$ 994 $ 1,333 $ 1,395 $ 1,421 $ 1,429</td><td colspan=\"2\">Adjustment Expenses,</td></tr><tr><td>2016</td><td></td><td>1,049 1,392 1,455 1,479</td><td colspan=\"2\">Net of Reinsurance</td></tr><tr><td>2017</td><td></td><td>1,471 2,059 2,197</td><td></td><td></td></tr><tr><td>2018</td><td></td><td>1,657 2,298</td><td>2015 -</td><td>Before</td></tr><tr><td>2019</td><td></td><td>1,613</td><td>2019</td><td>2015</td></tr><tr><td></td><td></td><td></td><td>Total $ 9,016 $ 1,152 $ 16</td><td></td></tr><tr><td></td><td></td><td colspan=\"2\">Total net liability</td><td>$ 1,168</td></tr></table>",
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"html_seq": "<table><tr><th colspan=\"3\">Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance Unaudited</th></tr><tr><th>12345</th><td></td><td></td></tr><tr><td></td><td>67.1% 24.1% 4.8% 1.7% 0.6%</td><td></td></tr></table>",
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-193 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 7. INSURANCE CLAIM RESERVES (Continued) International - Canada (dollars in millions) The incurred and paid amounts have been translated from the local currency to U.S. dollars using the December 31, 2019 spot rate for all years presented in the table above in order to isolate changes in foreign exchange rates from loss development. 174 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "INSURANCE CLAIM RESERVES (Continued)"
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"text": "International - Canada"
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"text": "(dollars in millions)"
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"text": "For the Years Ended December 31,"
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"text": "Reserves"
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"text": "December"
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"text": "31, 2019"
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"text": "Cumulative"
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"text": "2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 "
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"text": "Number of"
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"text": "Accident "
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"text": "Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance "
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"text": "Reported"
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"ocr": false,
"ocr_confidence": 1,
"text": "Year "
},
{
"bbox": [
0.4013343066077441,
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0.4596257579045665,
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"ocr": false,
"ocr_confidence": 1,
"text": "Unaudited "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Claims"
},
{
"bbox": [
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0.13357188163783013,
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],
"ocr": false,
"ocr_confidence": 1,
"text": "2010 "
},
{
"bbox": [
0.16677070386482007,
0.2585652669270833,
0.9123480697272202,
0.26959370457848836
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 487 $ 488 $ 499 $ 514 $ 501 $ 493 $ 489 $ 482 $ 481 $ 477 $ 1 54,938"
},
{
"bbox": [
0.10228367044468119,
0.276912561066699,
0.1323961200136127,
0.28558491551598836
],
"ocr": false,
"ocr_confidence": 1,
"text": "2011 "
},
{
"bbox": [
0.24396247735328547,
0.27787768933200097,
0.7539473511153199,
0.2868884182715601
],
"ocr": false,
"ocr_confidence": 1,
"text": "459 438 446 441 434 427 422 417 408 "
},
{
"bbox": [
0.8188589076803188,
0.27781499818313954,
0.9122172654277146,
0.2888309764615633
],
"ocr": false,
"ocr_confidence": 1,
"text": "(5) 55,773"
},
{
"bbox": [
0.10203868210917771,
0.2957111526213259,
0.13378413036616163,
0.3043835070706153
],
"ocr": false,
"ocr_confidence": 1,
"text": "2012 "
},
{
"bbox": [
0.304383351746633,
0.29667612317304587,
0.7544861867371633,
0.305686852112605
],
"ocr": false,
"ocr_confidence": 1,
"text": "435 413 414 398 397 380 374 362 "
},
{
"bbox": [
0.8188589076803188,
0.29667612317304587,
0.9123479669744318,
0.3076294103026082
],
"ocr": false,
"ocr_confidence": 1,
"text": "(2) 51,208"
},
{
"bbox": [
0.10203873348557187,
0.31447205062984496,
0.1331146574180937,
0.3231819409116602
],
"ocr": false,
"ocr_confidence": 1,
"text": "2013 "
},
{
"bbox": [
0.36480422613998054,
0.3154745570140908,
0.911564168705282,
0.3259891638152051
],
"ocr": false,
"ocr_confidence": 1,
"text": "485 478 469 457 444 443 433 — 54,251"
},
{
"bbox": [
0.10203873348557187,
0.3333080203034157,
0.13375153204407356,
0.3419804141811006
],
"ocr": false,
"ocr_confidence": 1,
"text": "2014 "
},
{
"bbox": [
0.42522510053332807,
0.3342729908551357,
0.7538167009449969,
0.34328371979469474
],
"ocr": false,
"ocr_confidence": 1,
"text": "429 444 445 433 426 423 "
},
{
"bbox": [
0.8188589076803188,
0.3342729908551357,
0.9123479669744318,
0.345226199127907
],
"ocr": false,
"ocr_confidence": 1,
"text": "(9) 52,268"
},
{
"bbox": [
0.10203870779737478,
0.3519435360142119,
0.13317995681505812,
0.3608038456248991
],
"ocr": false,
"ocr_confidence": 1,
"text": "2015 "
},
{
"bbox": [
0.48616849854337646,
0.3530714641245761,
0.9122172654277146,
0.3635860709256904
],
"ocr": false,
"ocr_confidence": 1,
"text": "361 360 360 356 358 10 45,203"
},
{
"bbox": [
0.10203868210917771,
0.37077958454457366,
0.1336861555825179,
0.3796023188943395
],
"ocr": false,
"ocr_confidence": 1,
"text": "2016 "
},
{
"bbox": [
0.5465893986249211,
0.371869897965621,
0.9126581776423085,
0.3823845047667353
],
"ocr": false,
"ocr_confidence": 1,
"text": "361 409 409 419 19 45,759"
},
{
"bbox": [
0.10203868210917771,
0.3897033612549459,
0.13337589353824705,
0.3983757157042353
],
"ocr": false,
"ocr_confidence": 1,
"text": "2017 "
},
{
"bbox": [
0.6070102987064657,
0.3907059464959827,
0.9126582803950968,
0.4011829780361757
],
"ocr": false,
"ocr_confidence": 1,
"text": "346 381 403 34 46,769"
},
{
"bbox": [
0.10203873348557187,
0.4085018345243863,
0.13324529474431818,
0.4171992260048248
],
"ocr": false,
"ocr_confidence": 1,
"text": "2018 "
},
{
"bbox": [
0.6701745441064288,
0.4094668050761063,
0.9128868025962753,
0.4199814118772206
],
"ocr": false,
"ocr_confidence": 1,
"text": "440 462 64 50,302"
},
{
"bbox": [
0.10203873348557187,
0.4273002683654312,
0.13355556963268755,
0.4361480791747416
],
"ocr": false,
"ocr_confidence": 1,
"text": "2019 "
},
{
"bbox": [
0.7305953928115794,
0.4282652389171512,
0.9127888791890256,
0.4387798457182655
],
"ocr": false,
"ocr_confidence": 1,
"text": "445 110 44,796"
},
{
"bbox": [
0.6619769266558817,
0.44654984190790536,
0.7542804242785932,
0.4575782795593104
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total $4,190"
},
{
"bbox": [
0.0862705025207314,
0.4932853442445898,
0.13529959270849773,
0.5003535544225411
],
"ocr": false,
"ocr_confidence": 1,
"text": "Accident "
},
{
"bbox": [
0.2299742008299137,
0.4932853442445898,
0.7198339391637731,
0.5022684733072916
],
"ocr": false,
"ocr_confidence": 1,
"text": "Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance"
},
{
"bbox": [
0.08623131517609361,
0.5095773149830426,
0.11187719736837778,
0.5166355103485344
],
"ocr": false,
"ocr_confidence": 1,
"text": "Year "
},
{
"bbox": [
0.41520827065413246,
0.5095773149830426,
0.4734996962627578,
0.5166956386516877
],
"ocr": false,
"ocr_confidence": 1,
"text": "Unaudited"
},
{
"bbox": [
0.10938720189361059,
0.5250522110813348,
0.14092036288996737,
0.5337245655306242
],
"ocr": false,
"ocr_confidence": 1,
"text": "2010 "
},
{
"bbox": [
0.18146767921319312,
0.525503350782764,
0.7670113406197391,
0.5358425012238573
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 191 $ 292 $ 329 $ 369 $ 400 $ 430 $ 447 $ 459 $ 465 $ 468"
},
{
"bbox": [
0.10963216454091698,
0.5438506843507752,
0.13974461410984848,
0.5525230388000646
],
"ocr": false,
"ocr_confidence": 1,
"text": "2011 "
},
{
"bbox": [
0.25212747079354747,
0.5448532301634165,
0.7662274395978009,
0.5538263838420543
],
"ocr": false,
"ocr_confidence": 1,
"text": "176 249 280 314 349 371 389 397 401"
},
{
"bbox": [
0.10938720189361059,
0.5626491181918201,
0.14113265015059448,
0.5713214726411096
],
"ocr": false,
"ocr_confidence": 1,
"text": "2012 "
},
{
"bbox": [
0.3141813181867503,
0.56361408874354,
0.7671419394136679,
0.5724743983542272
],
"ocr": false,
"ocr_confidence": 1,
"text": "165 231 262 288 316 333 342 347"
},
{
"bbox": [
0.10938720189361059,
0.5814099767719436,
0.1404631258261324,
0.59011994591055
],
"ocr": false,
"ocr_confidence": 1,
"text": "2013 "
},
{
"bbox": [
0.37460219258009786,
0.5824125620129804,
0.7669459898463805,
0.5914232909525395
],
"ocr": false,
"ocr_confidence": 1,
"text": "194 272 304 336 369 387 405 "
},
{
"bbox": [
0.7945827907986112,
0.5847711292040132,
0.9042052195128367,
0.5937542582667151
],
"ocr": false,
"ocr_confidence": 1,
"text": "Liability for Claims"
},
{
"bbox": [
0.10938720189361059,
0.6002459858739099,
0.14110000045211227,
0.6089183403231992
],
"ocr": false,
"ocr_confidence": 1,
"text": "2014 "
},
{
"bbox": [
0.4366560399733007,
0.6012109958540254,
0.7675175008549032,
0.6102217247935845
],
"ocr": false,
"ocr_confidence": 1,
"text": "189 265 302 331 362 384 "
},
{
"bbox": [
0.7912351049558081,
0.6035695630450582,
0.907968232125947,
0.6106878867137032
],
"ocr": false,
"ocr_confidence": 1,
"text": "And Allocated Claim"
},
{
"bbox": [
0.10938720189361059,
0.6188815410131016,
0.14052845091129393,
0.6277418506237887
],
"ocr": false,
"ocr_confidence": 1,
"text": "2015 "
},
{
"bbox": [
0.4970768886784512,
0.6200094691234658,
0.7671418880372738,
0.628869778734153
],
"ocr": false,
"ocr_confidence": 1,
"text": "162 226 253 282 307 "
},
{
"bbox": [
0.7875609221281828,
0.6223680363144986,
0.9116163671217382,
0.6313511653772004
],
"ocr": false,
"ocr_confidence": 1,
"text": "Adjustment Expenses,"
},
{
"bbox": [
0.10938720189361059,
0.6377175501150678,
0.14103467536695075,
0.6465402844648337
],
"ocr": false,
"ocr_confidence": 1,
"text": "2016 "
},
{
"bbox": [
0.5578080508042667,
0.6389332064054425,
0.7668806390730218,
0.6476682125751978
],
"ocr": false,
"ocr_confidence": 1,
"text": "211 283 310 343 "
},
{
"bbox": [
0.7962712759923454,
0.6411664701555434,
0.9024552367753051,
0.6482747790117288
],
"ocr": false,
"ocr_confidence": 1,
"text": "Net of Reinsurance"
},
{
"bbox": [
0.10938720189361059,
0.6566413662538356,
0.14072441332267993,
0.665313720703125
],
"ocr": false,
"ocr_confidence": 1,
"text": "2017 "
},
{
"bbox": [
0.6195516361531986,
0.6576063368055556,
0.7674521500815447,
0.6666170657451147
],
"ocr": false,
"ocr_confidence": 1,
"text": "182 257 296"
},
{
"bbox": [
0.10938720189361059,
0.6754398000948805,
0.14059376315235692,
0.6841372112895168
],
"ocr": false,
"ocr_confidence": 1,
"text": "2018 "
},
{
"bbox": [
0.683548795655119,
0.6764047903607983,
0.7669459384699864,
0.6854154995861595
],
"ocr": false,
"ocr_confidence": 1,
"text": "219 305 "
},
{
"bbox": [
0.7968559393577704,
0.678783406890948,
0.9043541083030829,
0.6858315677297824
],
"ocr": false,
"ocr_confidence": 1,
"text": "2010 - Before"
},
{
"bbox": [
0.10938720189361059,
0.6942382536501231,
0.14090403804072626,
0.7030860447452358
],
"ocr": false,
"ocr_confidence": 1,
"text": "2019 "
},
{
"bbox": [
0.7439696443602694,
0.6952408191769622,
0.7674521500815447,
0.704063553526728
],
"ocr": false,
"ocr_confidence": 1,
"text": "216 "
},
{
"bbox": [
0.8006934477423979,
0.6975918752586503,
0.8989279390585543,
0.7046199867583677
],
"ocr": false,
"ocr_confidence": 1,
"text": "2019 2010"
},
{
"bbox": [
0.6750408647839068,
0.713487846906795,
0.9116522278448548,
0.7245162648440023
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total $3,472 $ 718 $ 21"
},
{
"bbox": [
0.718413279112742,
0.7328627830327943,
0.8368545172591804,
0.7440917140753694
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"ocr": false,
"ocr_confidence": 1,
"text": "Total net liability "
},
{
"bbox": [
0.8591612742003367,
0.7322863004620377,
0.9127398661090067,
0.742625450903131
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 739"
},
{
"bbox": [
0.319625700363005,
0.7779565066946261,
0.7802888504182449,
0.7869597245248405
],
"ocr": false,
"ocr_confidence": 1,
"text": "Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance"
},
{
"bbox": [
0.5205398199935554,
0.7929952458817829,
0.5788312712903777,
0.8001136089788234
],
"ocr": false,
"ocr_confidence": 1,
"text": "Unaudited"
},
{
"bbox": [
0.08622804635301584,
0.8080340047831375,
0.8850377143834175,
0.8151022346752866
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"ocr": false,
"ocr_confidence": 1,
"text": "YeYears 12345678 9 10"
},
{
"bbox": [
0.20558703387225116,
0.8231580275897832,
0.916036894827178,
0.8321687368151446
],
"ocr": false,
"ocr_confidence": 1,
"text": "45.5% 18.4% 8.0% 7.8% 7.4% 5.2% 3.6% 1.9% 1.1% 0.7%"
},
{
"bbox": [
0.08136498165451718,
0.8583487182932614,
0.9185042975326179,
0.869803238900749
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"ocr": false,
"ocr_confidence": 1,
"text": "The incurred and paid amounts have been translated from the local currency to U.S. dollars using the December 31, 2019 spot rate "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "for all years presented in the table above in order to isolate changes in foreign exchange rates from loss development."
}
] | [
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"data": [],
"index_in_doc": 2536,
"label": "section_header",
"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
},
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"index_in_doc": 2537,
"label": "section_header",
"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"label": "section_header",
"text": "7. INSURANCE CLAIM RESERVES (Continued)"
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"label": "section_header",
"text": "International - Canada"
},
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"label": "text",
"text": "(dollars in millions)"
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"html_seq": "<table><tr><td></td><th colspan=\"3\">For the Years Ended December 31,</th><th>Cumulative</th></tr><tr><td></td><td></td><th>2010 2011 2012 2013 2014 2015 2016 2017 2018 2019</th><th>IBNR Reserves Number of Reported</th></tr><tr><th>Accident</th><th colspan=\"3\">Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance</th></tr><tr><th>Year</th><th colspan=\"3\">Unaudited</th></tr><tr><td>2010</td><td></td><td></td><td>$ 487 $ 488 $ 499 $ 514 $ 501 $ 493 $ 489 $ 482 $ 481 $ 477 $ 1 54,938</td></tr><tr><td>2011</td><td></td><td>459 438 446 441 434 427 422 417 408</td><td>(5) 55,773</td></tr><tr><td>2012</td><td></td><td>435 413 414 398 397 380 374 362</td><td>(2) 51,208</td></tr><tr><td>2013</td><td></td><td></td><td>485 478 469 457 444 443 433 - 54,251</td></tr><tr><td>2014</td><td></td><td>429 444 445 433 426 423</td><td>(9) 52,268</td></tr><tr><td>2015</td><td></td><td></td><td>361 360 360 356 358 10 45,203</td></tr><tr><td>2016</td><td></td><td></td><td>361 409 409 419 19 45,759</td></tr><tr><td>2017</td><td></td><td></td><td>346 381 403 34 46,769</td></tr><tr><td>2018</td><td></td><td></td><td>440 462 64 50,302</td></tr><tr><td>2019</td><td></td><td></td><td>445 110 44,796</td></tr><tr><td></td><td></td><td>Total $4,190</td><td></td></tr></table>",
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"html_seq": "<table><tr><th>Accident</th><th colspan=\"4\">Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance</th></tr><tr><th>Year</th><th colspan=\"4\">Unaudited</th></tr><tr><td>2010</td><td></td><td>$ 191 $ 292 $ 329 $ 369 $ 400 $ 430 $ 447 $ 459 $ 465 $ 468</td><td></td><td></td></tr><tr><td>2011</td><td></td><td>176 249 280 314 349 371 389 397 401</td><td></td><td></td></tr><tr><td>2012</td><td></td><td>165 231 262 288 316 333 342 347</td><td></td><td></td></tr><tr><td>2013</td><td></td><td>194 272 304 336 369 387 405</td><td colspan=\"2\">Liability for Claims</td></tr><tr><td>2014</td><td></td><td>189 265 302 331 362 384</td><td colspan=\"2\">And Allocated Claim</td></tr><tr><td>2015</td><td></td><td>162 226 253 282 307</td><td colspan=\"2\">Adjustment Expenses,</td></tr><tr><td>2016</td><td></td><td>211 283 310 343</td><td colspan=\"2\">Net of Reinsurance</td></tr><tr><td>2017</td><td></td><td>182 257 296</td><td></td><td></td></tr><tr><td>2018</td><td></td><td>219 305</td><td></td><td>2010 - Before</td></tr><tr><td>2019</td><td></td><td>216</td><td></td><td>2019 2010</td></tr><tr><td></td><td></td><td></td><td>Total $3,472 $ 718 $ 21</td><td></td></tr><tr><td></td><td></td><td>Total net liability</td><td></td><td>$ 739</td></tr></table>",
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"html_seq": "<table><tr><th colspan=\"3\">Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance Unaudited</th></tr><tr><td></td><td></td><th>YeYears 12345678 9 10</th></tr><tr><td></td><td>45.5% 18.4% 8.0% 7.8% 7.4% 5.2% 3.6% 1.9% 1.1% 0.7%</td><td></td></tr></table>",
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"text": "The incurred and paid amounts have been translated from the local currency to U.S. dollars using the December 31, 2019 spot rate for all years presented in the table above in order to isolate changes in foreign exchange rates from loss development."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-194 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 7. INSURANCE CLAIM RESERVES (Continued) Methodology for Estimating Incurred But Not Reported (IBNR) Reserves Claims and claim adjustment expense reserves represent management's estimate of the ultimate liability for unpaid losses and loss adjustment expenses for claims that have been reported and claims that have been incurred but not yet reported (IBNR) as of the balance sheet date. Claims and claim adjustment expense reserves do not represent an exact calculation of the liability, but instead represent management estimates, primarily utilizing actuarial expertise and projection methods that develop estimates for the ultimate cost of claims and claim adjustment expenses. Because the establishment of claims and claims adjustment expense reserves is an inherently uncertain process involving estimates and judgment, currently estimated claims and claim adjustment expense reserves may change. The Company reflects changes to the reserves in the results of operations in the period the estimates are changed. Cumulative amounts paid and case reserves held as of the balance sheet date are subtracted from the estimate of the ultimate cost of claims and claim adjustment expenses to derive incurred but not reported (IBNR) reserves. Accordingly, IBNR reserves include the cost of unreported claims, development on known claims and re-opened claims. This approach to estimating IBNR reserves has been in place for many years, with no material changes in methodology in the past year. Detailed claim data is typically insufficient to produce a reliable indication of the initial estimate for ultimate claims and claim adjustment expenses for an accident year. As a result, the initial estimate for an accident year is generally based on an exposurebased method using either the loss ratio projection or the expected loss method. The loss ratio projection method, which is typically used for guaranteed-cost business, develops an initial estimate of ultimate claims and claim adjustment expenses for an accident year by multiplying earned premium for the accident year by a projected loss ratio. The projected loss ratio is determined by analyzing prior period experience, and adjusting for loss cost trends, rate level differences, mix of business changes and other known or observed factors influencing the accident year relative to prior accident years. The expected loss method, which is typically used for loss sensitive business, develops an initial estimate of ultimate claims and claim adjustment expenses for an accident year by analyzing exposures by account. For prior accident years, the following estimation and analysis methods are principally used by the Company's actuaries to estimate the ultimate cost of claims and claim adjustment expenses. These estimation and analysis methods are typically referred to as conventional actuarial methods. - · The paid loss development method assumes that the future change (positive or negative) in cumulative paid losses for a given cohort of claims will occur in a stable, predictable pattern from year-to-year, consistent with the pattern observed in past cohorts. - · The case incurred development method is the same as the paid loss development method but is based on cumulative case-incurred losses rather than paid losses. - · The Bornhuetter-Ferguson method uses an initial estimate of ultimate losses for a given product line reserve component, typically expressed as a ratio to earned premium. The method assumes that the ratio of additional claim activity to earned premium for that component is relatively stable and predictable over time and that actual claim activity to date is not a credible predictor of further activity for that component. The method is used most often for more recent accident years where claim data is sparse and/or volatile, with a transition to other methods as the underlying claim data becomes more voluminous and therefore more credible. - · The average value analysis combined with the reported claim development method assumes that average claim values are stable and predictable over time for a particular cohort of claims. It is typically limited to analysis at more granular levels, such as coverage or hazard/peril, where a more homogeneous subset of claims produce a more stable and fairly predictable average value. The reported claim development method is the same as the paid loss development method but uses changes in cumulative claim counts to produce estimates of ultimate claim counts rather than ultimate dollars. The resulting estimate of ultimate claim counts by cohort is multiplied by an average value per claim from an average value analysis to obtain estimated ultimate claims and claim adjustment expenses. While these are the principal methods utilized, the Company's actuaries have available to them the full range of actuarial methods developed by the casualty actuarial profession. The Company's actuaries are also continually monitoring developments within the profession for advances in existing techniques or the creation of new techniques that might improve current and future estimates. Most actuarial methods assume that past patterns demonstrated in the data will repeat themselves in the future. For certain reserve components where this assumption may not hold, such as asbestos and environmental reserves, conventional actuarial methods are not utilized by the Company. 175 | [
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"text": "adjustment expenses for an accident year. As a result, the initial estimate for an accident year is generally based on an exposure\u0002"
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"text": "component, typically expressed as a ratio to earned premium. The method assumes that the ratio of additional claim "
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"text": "activity to earned premium for that component is relatively stable and predictable over time and that actual claim "
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"text": "are stable and predictable over time for a particular cohort of claims. It is typically limited to analysis at more granular "
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"text": "levels, such as coverage or hazard/peril, where a more homogeneous subset of claims produce a more stable and "
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"text": "fairly predictable average value. The reported claim development method is the same as the paid loss development "
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"text": "method but uses changes in cumulative claim counts to produce estimates of ultimate claim counts rather than ultimate "
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"text": "dollars. The resulting estimate of ultimate claim counts by cohort is multiplied by an average value per claim from "
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"text": "an average value analysis to obtain estimated ultimate claims and claim adjustment expenses."
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"text": "Most actuarial methods assume that past patterns demonstrated in the data will repeat themselves in the future. For certain reserve "
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"text": "7. INSURANCE CLAIM RESERVES (Continued)"
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"text": "Claims and claim adjustment expense reserves represent management's estimate of the ultimate liability for unpaid losses and loss adjustment expenses for claims that have been reported and claims that have been incurred but not yet reported (IBNR) as of the balance sheet date. Claims and claim adjustment expense reserves do not represent an exact calculation of the liability, but instead represent management estimates, primarily utilizing actuarial expertise and projection methods that develop estimates for the ultimate cost of claims and claim adjustment expenses. Because the establishment of claims and claims adjustment expense reserves is an inherently uncertain process involving estimates and judgment, currently estimated claims and claim adjustment expense reserves may change. The Company reflects changes to the reserves in the results of operations in the period the estimates are changed."
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"text": "Cumulative amounts paid and case reserves held as of the balance sheet date are subtracted from the estimate of the ultimate cost of claims and claim adjustment expenses to derive incurred but not reported (IBNR) reserves. Accordingly, IBNR reserves include the cost of unreported claims, development on known claims and re-opened claims. This approach to estimating IBNR reserves has been in place for many years, with no material changes in methodology in the past year."
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"text": "Detailed claim data is typically insufficient to produce a reliable indication of the initial estimate for ultimate claims and claim adjustment expenses for an accident year. As a result, the initial estimate for an accident year is generally based on an exposurebased method using either the loss ratio projection or the expected loss method. The loss ratio projection method, which is typically used for guaranteed-cost business, develops an initial estimate of ultimate claims and claim adjustment expenses for an accident year by multiplying earned premium for the accident year by a projected loss ratio. The projected loss ratio is determined by analyzing prior period experience, and adjusting for loss cost trends, rate level differences, mix of business changes and other known or observed factors influencing the accident year relative to prior accident years. The expected loss method, which is typically used for loss sensitive business, develops an initial estimate of ultimate claims and claim adjustment expenses for an accident year by analyzing exposures by account."
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"text": "For prior accident years, the following estimation and analysis methods are principally used by the Company's actuaries to estimate the ultimate cost of claims and claim adjustment expenses. These estimation and analysis methods are typically referred to as conventional actuarial methods."
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"text": "- · The paid loss development method assumes that the future change (positive or negative) in cumulative paid losses for a given cohort of claims will occur in a stable, predictable pattern from year-to-year, consistent with the pattern observed in past cohorts."
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"text": "- · The case incurred development method is the same as the paid loss development method but is based on cumulative case-incurred losses rather than paid losses."
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"text": "- · The Bornhuetter-Ferguson method uses an initial estimate of ultimate losses for a given product line reserve component, typically expressed as a ratio to earned premium. The method assumes that the ratio of additional claim activity to earned premium for that component is relatively stable and predictable over time and that actual claim activity to date is not a credible predictor of further activity for that component. The method is used most often for more recent accident years where claim data is sparse and/or volatile, with a transition to other methods as the underlying claim data becomes more voluminous and therefore more credible."
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"text": "- · The average value analysis combined with the reported claim development method assumes that average claim values are stable and predictable over time for a particular cohort of claims. It is typically limited to analysis at more granular levels, such as coverage or hazard/peril, where a more homogeneous subset of claims produce a more stable and fairly predictable average value. The reported claim development method is the same as the paid loss development method but uses changes in cumulative claim counts to produce estimates of ultimate claim counts rather than ultimate dollars. The resulting estimate of ultimate claim counts by cohort is multiplied by an average value per claim from an average value analysis to obtain estimated ultimate claims and claim adjustment expenses."
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"text": "While these are the principal methods utilized, the Company's actuaries have available to them the full range of actuarial methods developed by the casualty actuarial profession. The Company's actuaries are also continually monitoring developments within the profession for advances in existing techniques or the creation of new techniques that might improve current and future estimates. Most actuarial methods assume that past patterns demonstrated in the data will repeat themselves in the future. For certain reserve components where this assumption may not hold, such as asbestos and environmental reserves, conventional actuarial methods are not utilized by the Company."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-195 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 7. INSURANCE CLAIM RESERVES (Continued) Methodology for Determining Cumulative Number of Reported Claims A claim file is created when the Company is notified of an actual demand for payment, notified of an event that may lead to a demand for payment or when it is determined that a demand for payment could possibly lead to a future demand for payment on another coverage on the same policy or on another policy. Claim files are generally created for a policy at the claimant by coverage level, depending on the particular facts and circumstances of the underlying event. For Business Insurance and for Personal Insurance, claim file information is summarized such that the Company generally recognizes one count for each policy claim event by internal regulatory line of business, regardless of the number of claimants or coverages involved. The claims counts are then accumulated and reported by product line. While the methodology is generally consistent within each segment for the product lines displayed, there are some minor differences between and within segments. For Bond & Specialty Insurance, the Company generally recognizes one count per coverage per policy claim event and one count per bond per surety claim event. For purposes of the claims development tables above, claims reported for direct business are counted even if they eventually close with no loss payment, except in the case of (i) deductible business, where the claim is not counted until the case incurred claim estimate is above the deductible and (ii) International-Canada reported claim counts where claims closed with no loss payment are not counted. Note that claims with zero claim dollars may still generate some level of claim adjustment expenses. Claim counts for assumed business are included only to the extent such counts are available. The Company generally does not receive claim count information for which the underlying claim activity is handled by others, including pools and associations. The Company does not generate claim counts for ceded business. The methods used to summarize claim counts have not changed significantly over the time periods reported in the tables above. The Company cautions against using the summarized claim count information provided in this disclosure in attempting to project ultimate loss payouts by product line. The Company generally finds claim count data to be useful only on a more granular basis than the aggregated basis disclosed in the claim development tables above, as the risks, average values and other dynamics of the claim process can vary materially by the cause of loss and coverage within product line. For example, in Personal Automobile, the introduction of roadside assistance coverage resulted in a significant increase in claim counts with a low average claim cost. For this reason the Company varies its approach to, and in many cases the level of aggregation for, counting claims for internal analysis purposes depending on the particular granular analysis performed. Asbestos and Environmental Reserves At December 31, 2019 and 2018, the Company's claims and claim adjustment expense reserves included $1.60 billion and $1.62 billion, respectively, for asbestos and environmental-related claims, net of reinsurance. It is difficult to estimate the reserves for asbestos and environmental-related claims due to the vagaries of court coverage decisions, plaintiffs' expanded theories of liability, the risks inherent in complex litigation and other uncertainties, including, without limitation, those which are set forth below. Asbestos Reserves. Because each policyholder presents different liability and coverage issues, the Company generally reviews the exposure presented by each policyholder at least annually. Among the factors which the Company may consider in the course of this review are: available insurance coverage, including the role of any umbrella or excess insurance the Company has issued to the policyholder; limits and deductibles; an analysis of the policyholder's potential liability; the jurisdictions involved; past and anticipated future claim activity and loss development on pending claims; past settlement values of similar claims; allocated claim adjustment expense; the potential role of other insurance; the role, if any, of non-asbestos claims or potential non-asbestos claims in any resolution process; and applicable coverage defenses or determinations, if any, including the determination as to whether or not an asbestos claim is a products/completed operation claim subject to an aggregate limit and the available coverage, if any, for that claim. In the third quarter of 2019, the Company completed its annual in-depth asbestos claim review, including a review of active policyholders and litigation cases for potential product and "non-product" liability, and noted the continuation of the following trends: 176 | [
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"text": "with no loss payment, except in the case of (i) deductible business, where the claim is not counted until the case incurred claim "
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"text": "are not counted. Note that claims with zero claim dollars may still generate some level of claim adjustment expenses. Claim "
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"text": "claim count information for which the underlying claim activity is handled by others, including pools and associations. The "
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"text": "ultimate loss payouts by product line. The Company generally finds claim count data to be useful only on a more granular basis "
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"text": "than the aggregated basis disclosed in the claim development tables above, as the risks, average values and other dynamics of the "
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"text": "claim process can vary materially by the cause of loss and coverage within product line. For example, in Personal Automobile, "
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"text": "the introduction of roadside assistance coverage resulted in a significant increase in claim counts with a low average claim cost. "
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"text": "Asbestos and Environmental Reserves"
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"text": "At December 31, 2019 and 2018, the Company’s claims and claim adjustment expense reserves included $1.60 billion and $1.62 "
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"text": "billion, respectively, for asbestos and environmental-related claims, net of reinsurance."
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"text": "this review are: available insurance coverage, including the role of any umbrella or excess insurance the Company has issued to"
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"text": "the policyholder; limits and deductibles; an analysis of the policyholder’s potential liability; the jurisdictions involved; past and "
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"text": "anticipated future claim activity and loss development on pending claims; past settlement values of similar claims; allocated claim "
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"text": "adjustment expense; the potential role of other insurance; the role, if any, of non-asbestos claims or potential non-asbestos claims "
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"text": "in any resolution process; and applicable coverage defenses or determinations, if any, including the determination as to whether "
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"text": "or not an asbestos claim is a products/completed operation claim subject to an aggregate limit and the available coverage, if any, "
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"text": "Methodology for Determining Cumulative Number of Reported Claims"
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"text": "A claim file is created when the Company is notified of an actual demand for payment, notified of an event that may lead to a demand for payment or when it is determined that a demand for payment could possibly lead to a future demand for payment on another coverage on the same policy or on another policy. Claim files are generally created for a policy at the claimant by coverage level, depending on the particular facts and circumstances of the underlying event."
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"text": "For Business Insurance and for Personal Insurance, claim file information is summarized such that the Company generally recognizes one count for each policy claim event by internal regulatory line of business, regardless of the number of claimants or coverages involved. The claims counts are then accumulated and reported by product line. While the methodology is generally consistent within each segment for the product lines displayed, there are some minor differences between and within segments. For Bond & Specialty Insurance, the Company generally recognizes one count per coverage per policy claim event and one count per bond per surety claim event."
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"text": "For purposes of the claims development tables above, claims reported for direct business are counted even if they eventually close with no loss payment, except in the case of (i) deductible business, where the claim is not counted until the case incurred claim estimate is above the deductible and (ii) International-Canada reported claim counts where claims closed with no loss payment are not counted. Note that claims with zero claim dollars may still generate some level of claim adjustment expenses. Claim counts for assumed business are included only to the extent such counts are available. The Company generally does not receive claim count information for which the underlying claim activity is handled by others, including pools and associations. The Company does not generate claim counts for ceded business. The methods used to summarize claim counts have not changed significantly over the time periods reported in the tables above."
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"text": "Asbestos and Environmental Reserves"
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"text": "At December 31, 2019 and 2018, the Company's claims and claim adjustment expense reserves included $1.60 billion and $1.62 billion, respectively, for asbestos and environmental-related claims, net of reinsurance."
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"text": "It is difficult to estimate the reserves for asbestos and environmental-related claims due to the vagaries of court coverage decisions, plaintiffs' expanded theories of liability, the risks inherent in complex litigation and other uncertainties, including, without limitation, those which are set forth below."
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"text": "Asbestos Reserves. Because each policyholder presents different liability and coverage issues, the Company generally reviews the exposure presented by each policyholder at least annually. Among the factors which the Company may consider in the course of this review are: available insurance coverage, including the role of any umbrella or excess insurance the Company has issued to the policyholder; limits and deductibles; an analysis of the policyholder's potential liability; the jurisdictions involved; past and anticipated future claim activity and loss development on pending claims; past settlement values of similar claims; allocated claim adjustment expense; the potential role of other insurance; the role, if any, of non-asbestos claims or potential non-asbestos claims in any resolution process; and applicable coverage defenses or determinations, if any, including the determination as to whether or not an asbestos claim is a products/completed operation claim subject to an aggregate limit and the available coverage, if any, for that claim."
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"text": "In the third quarter of 2019, the Company completed its annual in-depth asbestos claim review, including a review of active policyholders and litigation cases for potential product and \"non-product\" liability, and noted the continuation of the following trends:"
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-196 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 7. INSURANCE CLAIM RESERVES (Continued) - · a high level of litigation activity in certain jurisdictions involving individuals alleging serious asbestos-related illness, primarily involving mesothelioma claims; - · while overall payment patterns have been generally stable, there has been an increase in severity for certain policyholders due to the high level of litigation activity; and - · a moderate level of asbestos-related bankruptcy activity. In the home office and field office category, which accounts for the vast majority of policyholders with active asbestos-related claims, the number of policyholders with open asbestos claims and net asbestos-related payments were comparable with 2018. Payments on behalf of policyholders in this category continue to be influenced by a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally primary targets of asbestos litigation. The Company's quarterly asbestos reserve reviews include an analysis of exposure and claim payment patterns by policyholder category, as well as recent settlements, policyholder bankruptcies, judicial rulings and legislative actions. The Company also analyzes developing payment patterns among policyholders in the home office and field office category and the assumed reinsurance and other category as well as projected reinsurance billings and recoveries. In addition, the Company reviews its historical gross and net loss and expense paid experience, year-by-year, to assess any emerging trends, fluctuations, or characteristics suggested by the aggregate paid activity. Conventional actuarial methods are not utilized to establish asbestos reserves and the Company's evaluations have not resulted in a reliable method to determine a meaningful average asbestos defense or indemnity payment. The completion of these reviews and analyses in 2019, 2018 and 2017 resulted in $220 million, $225 million and $225 million increases, respectively, to the Company's net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company's estimate of projected settlement and defense costs related to a broad number of policyholders in the home office and field office category. The increase in the estimate of projected settlement and defense costs resulted from payment trends that continue to be higher than previously anticipated due to the impact of the current litigation environment surrounding mesothelioma claims discussed above. Over the past decade, the property and casualty insurance industry, including the Company , has experienced net unfavorable prior year reserve development with regard to asbestos reserves, but the Company believes that over that period there has been a reduction in the volatility associated with the Company's overall asbestos exposure as the overall asbestos environment has evolved from one dominated by exposure to significant litigation risks, particularly coverage disputes relating to policyholders in bankruptcy who were asserting that their claims were not subject to the aggregate limits contained in their policies, to an environment primarily driven by a frequency of litigation related to individuals with mesothelioma. The Company's overall view of the current underlying asbestos environment is essentially unchanged from recent periods and there remains a high degree of uncertainty with respect to future exposure to asbestos claims. Net asbestos paid loss and loss expenses in 2019, 2018 and 2017 were $224 million, $225 million and $271 million, respectively. Approximately 4%, 9% and 4% of total net paid losses in 2019, 2018 and 2017, respectively, related to policyholders with whom the Company entered into settlement agreements that limit those policyholders' ability to present future claims to the Company. Environmental Reserves. In establishing environmental reserves, the Company evaluates the exposure presented by each policyholder and the anticipated cost of resolution, if any. These claims are mainly brought pursuant to various state or federal statutes that require a liable party to undertake or pay for environmental remediation. Liability under these statutes may be joint and several with other responsible parties. In the course of its analysis, the Company generally considers the probable liability, available coverage and relevant judicial interpretations. In addition, the Company considers the many variables presented, such as: the nature of the alleged activities of the policyholder at each site; the number of sites; the total number of potentially responsible parties at each site; the nature of the alleged environmental harm and the corresponding remedy at each site; the nature of government enforcement activities at each site; the ownership and general use of each site; the overall nature of the insurance relationship between the Company and the policyholder, including the role of any umbrella or excess insurance the Company has issued to the policyholder; the involvement of other insurers; the potential for other available coverage, including the number of years of coverage; the role, if any, of non-environmental claims or potential non-environmental claims in any resolution process; and the applicable law in each jurisdiction. The evaluation of the exposure presented by a policyholder can change as information concerning that policyholder and the many variables presented is developed. Conventional actuarial methods are not used to estimate these reserves. 177 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "7. INSURANCE CLAIM RESERVES (Continued)"
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"text": "- · a high level of litigation activity in certain jurisdictions involving individuals alleging serious asbestos-related illness, primarily involving mesothelioma claims;"
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"text": "- · while overall payment patterns have been generally stable, there has been an increase in severity for certain policyholders due to the high level of litigation activity; and"
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"text": "- · a moderate level of asbestos-related bankruptcy activity."
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"text": "In the home office and field office category, which accounts for the vast majority of policyholders with active asbestos-related claims, the number of policyholders with open asbestos claims and net asbestos-related payments were comparable with 2018. Payments on behalf of policyholders in this category continue to be influenced by a high level of litigation activity in a limited number of jurisdictions where individuals alleging serious asbestos-related injury, primarily mesothelioma, continue to target defendants who were not traditionally primary targets of asbestos litigation."
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"text": "The Company's quarterly asbestos reserve reviews include an analysis of exposure and claim payment patterns by policyholder category, as well as recent settlements, policyholder bankruptcies, judicial rulings and legislative actions. The Company also analyzes developing payment patterns among policyholders in the home office and field office category and the assumed reinsurance and other category as well as projected reinsurance billings and recoveries. In addition, the Company reviews its historical gross and net loss and expense paid experience, year-by-year, to assess any emerging trends, fluctuations, or characteristics suggested by the aggregate paid activity. Conventional actuarial methods are not utilized to establish asbestos reserves and the Company's evaluations have not resulted in a reliable method to determine a meaningful average asbestos defense or indemnity payment."
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"text": "The completion of these reviews and analyses in 2019, 2018 and 2017 resulted in $220 million, $225 million and $225 million increases, respectively, to the Company's net asbestos reserves. In each year, the reserve increases were primarily driven by increases in the Company's estimate of projected settlement and defense costs related to a broad number of policyholders in the home office and field office category. The increase in the estimate of projected settlement and defense costs resulted from payment trends that continue to be higher than previously anticipated due to the impact of the current litigation environment surrounding mesothelioma claims discussed above. Over the past decade, the property and casualty insurance industry, including the Company , has experienced net unfavorable prior year reserve development with regard to asbestos reserves, but the Company believes that over that period there has been a reduction in the volatility associated with the Company's overall asbestos exposure as the overall asbestos environment has evolved from one dominated by exposure to significant litigation risks, particularly coverage disputes relating to policyholders in bankruptcy who were asserting that their claims were not subject to the aggregate limits contained in their policies, to an environment primarily driven by a frequency of litigation related to individuals with mesothelioma. The Company's overall view of the current underlying asbestos environment is essentially unchanged from recent periods and there remains a high degree of uncertainty with respect to future exposure to asbestos claims."
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"text": "Net asbestos paid loss and loss expenses in 2019, 2018 and 2017 were $224 million, $225 million and $271 million, respectively. Approximately 4%, 9% and 4% of total net paid losses in 2019, 2018 and 2017, respectively, related to policyholders with whom the Company entered into settlement agreements that limit those policyholders' ability to present future claims to the Company."
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"text": "Environmental Reserves. In establishing environmental reserves, the Company evaluates the exposure presented by each policyholder and the anticipated cost of resolution, if any. These claims are mainly brought pursuant to various state or federal statutes that require a liable party to undertake or pay for environmental remediation. Liability under these statutes may be joint and several with other responsible parties. In the course of its analysis, the Company generally considers the probable liability, available coverage and relevant judicial interpretations. In addition, the Company considers the many variables presented, such as: the nature of the alleged activities of the policyholder at each site; the number of sites; the total number of potentially responsible parties at each site; the nature of the alleged environmental harm and the corresponding remedy at each site; the nature of government enforcement activities at each site; the ownership and general use of each site; the overall nature of the insurance relationship between the Company and the policyholder, including the role of any umbrella or excess insurance the Company has issued to the policyholder; the involvement of other insurers; the potential for other available coverage, including the number of years of coverage; the role, if any, of non-environmental claims or potential non-environmental claims in any resolution process; and the applicable law in each jurisdiction. The evaluation of the exposure presented by a policyholder can change as information concerning that policyholder and the many variables presented is developed. Conventional actuarial methods are not used to estimate these reserves."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-197 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 7. INSURANCE CLAIM RESERVES (Continued) The Company continues to receive notices from policyholders tendering claims for the first time, frequently under policies issued prior to the mid-1980s. These policyholders continue to present smaller exposures, have fewer sites and are lower tier defendants. Further, in many instances, clean-up costs have been reduced because regulatory agencies are willing to accept risk-based site analyses and more efficient clean-up technologies. Over the past several years, the Company has experienced generally favorable trends in the number of new policyholders tendering environmental claims for the first time and in the number of pending declaratory judgment actions relating to environmental matters. However, the degree to which those favorable trends have continued has been less than anticipated. In addition, reserve development on existing environmental claims as well as the costs associated with coverage litigation on environmental matters has been greater than anticipated, driven by claims and legal developments in a limited number of jurisdictions. As a result of these factors, in 2019, 2018 and 2017, the Company increased its net environmental reserves by $76 million, $55 million and $65 million, respectively. Asbestos and Environmental Reserves. As a result of the processes and procedures discussed above, management believes that the reserves carried for asbestos and environmental claims are appropriately established based upon known facts, current law and management's judgment. However, the uncertainties surrounding the final resolution of these claims continue, and it is difficult to determine the ultimate exposure for asbestos and environmental claims and related litigation. As a result, these reserves are subject to revision as new information becomes available and as claims develop. Changes in the legal, regulatory and legislative environment may impact the future resolution of asbestos and environmental claims and result in adverse loss reserve development. The emergence of a greater number of asbestos or environmental claims beyond that which is anticipated may result in adverse loss reserve development. Changes in applicable legislation and future court and regulatory decisions and interpretations, including the outcome of legal challenges to legislative and/or judicial reforms establishing medical criteria for the pursuit of asbestos claims, could affect the settlement of asbestos and environmental claims. It is also difficult to predict the ultimate outcome of complex coverage disputes until settlement negotiations near completion and significant legal questions are resolved or, failing settlement, until the dispute is adjudicated. This is particularly the case with policyholders in bankruptcy where negotiations often involve a large number of claimants and other parties and require court approval to be effective. As part of its continuing analysis of asbestos and environmental reserves, the Company continues to study the implications of these and other developments. Because of the uncertainties set forth above, additional liabilities may arise for amounts in excess of the Company's current reserves. In addition, the Company's estimate of claims and claim adjustment expenses may change. These additional liabilities or increases in estimates, or a range of either, cannot now be reasonably estimated and could result in income statement charges that could be material to the Company's operating results in future periods. Catastrophe Exposure The Company has geographic exposure to catastrophe losses, which include hurricanes, tornadoes and other windstorms, earthquakes, hail, wildfires, severe winter weather, floods, tsunamis, volcanic eruptions, solar flares and other naturally-occurring events. Catastrophes can also result from terrorist attacks and other intentionally destructive acts including those involving nuclear, biological, chemical and radiological events, cyber events, explosions and destruction of infrastructure. The incidence and severity of catastrophes are inherently unpredictable. The extent of losses from a catastrophe is a function of both the total amount of insured exposure in the area affected by the event and the severity of the event. Most catastrophes are restricted to small geographic areas; however, hurricanes, earthquakes, wildfires and cyber attacks may produce significant damage in larger areas, especially those that are heavily populated. The Company generally seeks to mitigate its exposure to catastrophes through individual risk selection and the purchase of catastrophe reinsurance. There are also risks which impact the estimation of ultimate costs for catastrophes. For example, the estimation of reserves related to hurricanes can be affected by the inability of the Company and its insureds to access portions of the impacted areas, the complexity of factors contributing to the losses, the legal and regulatory uncertainties and the nature of the information available to establish the reserves. Complex factors include, but are not limited to: determining whether damage was caused by flooding versus wind; evaluating general liability and pollution exposures; estimating additional living expenses; the impact of demand surge; the potential impact of changing climate conditions, including higher frequency and severity of weather-related events; infrastructure disruption; fraud; the effect of mold damage and business income interruption costs; and reinsurance collectibility. The timing of a catastrophe's occurrence, such as at or near the end of a reporting period, can also affect the information available to the Company in estimating reserves for that reporting period. The estimates related to catastrophes are adjusted as actual claims emerge. 178 | [
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"text": "insured exposure in the area affected by the event and the severity of the event. Most catastrophes are restricted to small geographic "
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"text": "the reserves. Complex factors include, but are not limited to: determining whether damage was caused by flooding versus wind; "
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"text": "evaluating general liability and pollution exposures; estimating additional living expenses; the impact of demand surge; the potential "
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"text": "impact of changing climate conditions, including higher frequency and severity of weather-related events; infrastructure disruption; "
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"text": "fraud; the effect of mold damage and business income interruption costs; and reinsurance collectibility. The timing of a catastrophe’s "
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"text": "occurrence, such as at or near the end of a reporting period, can also affect the information available to the Company in estimating "
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"text": "reserves for that reporting period. The estimates related to catastrophes are adjusted as actual claims emerge."
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "7. INSURANCE CLAIM RESERVES (Continued)"
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"text": "The Company continues to receive notices from policyholders tendering claims for the first time, frequently under policies issued prior to the mid-1980s. These policyholders continue to present smaller exposures, have fewer sites and are lower tier defendants. Further, in many instances, clean-up costs have been reduced because regulatory agencies are willing to accept risk-based site analyses and more efficient clean-up technologies. Over the past several years, the Company has experienced generally favorable trends in the number of new policyholders tendering environmental claims for the first time and in the number of pending declaratory judgment actions relating to environmental matters. However, the degree to which those favorable trends have continued has been less than anticipated. In addition, reserve development on existing environmental claims as well as the costs associated with coverage litigation on environmental matters has been greater than anticipated, driven by claims and legal developments in a limited number of jurisdictions. As a result of these factors, in 2019, 2018 and 2017, the Company increased its net environmental reserves by $76 million, $55 million and $65 million, respectively."
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"text": "Asbestos and Environmental Reserves. As a result of the processes and procedures discussed above, management believes that the reserves carried for asbestos and environmental claims are appropriately established based upon known facts, current law and management's judgment. However, the uncertainties surrounding the final resolution of these claims continue, and it is difficult to determine the ultimate exposure for asbestos and environmental claims and related litigation. As a result, these reserves are subject to revision as new information becomes available and as claims develop. Changes in the legal, regulatory and legislative environment may impact the future resolution of asbestos and environmental claims and result in adverse loss reserve development. The emergence of a greater number of asbestos or environmental claims beyond that which is anticipated may result in adverse loss reserve development. Changes in applicable legislation and future court and regulatory decisions and interpretations, including the outcome of legal challenges to legislative and/or judicial reforms establishing medical criteria for the pursuit of asbestos claims, could affect the settlement of asbestos and environmental claims. It is also difficult to predict the ultimate outcome of complex coverage disputes until settlement negotiations near completion and significant legal questions are resolved or, failing settlement, until the dispute is adjudicated. This is particularly the case with policyholders in bankruptcy where negotiations often involve a large number of claimants and other parties and require court approval to be effective. As part of its continuing analysis of asbestos and environmental reserves, the Company continues to study the implications of these and other developments."
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"text": "Because of the uncertainties set forth above, additional liabilities may arise for amounts in excess of the Company's current reserves. In addition, the Company's estimate of claims and claim adjustment expenses may change. These additional liabilities or increases in estimates, or a range of either, cannot now be reasonably estimated and could result in income statement charges that could be material to the Company's operating results in future periods."
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"text": "Catastrophe Exposure"
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"text": "The Company has geographic exposure to catastrophe losses, which include hurricanes, tornadoes and other windstorms, earthquakes, hail, wildfires, severe winter weather, floods, tsunamis, volcanic eruptions, solar flares and other naturally-occurring events. Catastrophes can also result from terrorist attacks and other intentionally destructive acts including those involving nuclear, biological, chemical and radiological events, cyber events, explosions and destruction of infrastructure. The incidence and severity of catastrophes are inherently unpredictable. The extent of losses from a catastrophe is a function of both the total amount of insured exposure in the area affected by the event and the severity of the event. Most catastrophes are restricted to small geographic areas; however, hurricanes, earthquakes, wildfires and cyber attacks may produce significant damage in larger areas, especially those that are heavily populated. The Company generally seeks to mitigate its exposure to catastrophes through individual risk selection and the purchase of catastrophe reinsurance."
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"text": "There are also risks which impact the estimation of ultimate costs for catastrophes. For example, the estimation of reserves related to hurricanes can be affected by the inability of the Company and its insureds to access portions of the impacted areas, the complexity of factors contributing to the losses, the legal and regulatory uncertainties and the nature of the information available to establish the reserves. Complex factors include, but are not limited to: determining whether damage was caused by flooding versus wind; evaluating general liability and pollution exposures; estimating additional living expenses; the impact of demand surge; the potential impact of changing climate conditions, including higher frequency and severity of weather-related events; infrastructure disruption; fraud; the effect of mold damage and business income interruption costs; and reinsurance collectibility. The timing of a catastrophe's occurrence, such as at or near the end of a reporting period, can also affect the information available to the Company in estimating reserves for that reporting period. The estimates related to catastrophes are adjusted as actual claims emerge."
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"page": 197
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-198 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 8. DEBT Debt outstanding was as follows: 2019 Debt Issuance. On March 4, 2019, the Company issued $500 million aggregate principal amount of 4.10% senior notes that will mature on March 4, 2049. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $492 million. Interest on the senior notes is payable semi-annually in arrears on March 4 and September 4. Prior to September 4, 2048, the senior notes may be redeemed, in whole or in part, at the Company's option, at any time or from time to time, at a redemption price equal to the greater of (a) 100% of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to but excluding September 4, 2048 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 20 basis points. On or after September 4, 2048, the senior notes may be redeemed, in whole or in part, at the Company's option, at any time or from time to time, at a redemption price equal to 100% of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. 2019 Debt Repayment. On June 2, 2019, the Company's $500 million, 5.90% senior notes matured and were fully paid. 179 | [
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"text": "Debt outstanding was as follows:"
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"text": "(at December 31, in millions) "
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"text": "2019 "
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"text": "Short-term:"
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"text": "Commercial paper ..............................................................................................................."
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"text": "...... "
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"text": "$ 100 "
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"text": "$ 100"
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"text": "3.90% Senior notes due November 1, 2020 "
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"text": "................................................................. "
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"text": "500 "
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"text": "—"
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"text": "5.90% Senior notes due June 2, 2019........................................................................................ "
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"text": "— "
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"text": "500"
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"text": "Total short-term debt "
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"text": "600 "
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"text": "600"
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"text": "Long-term:"
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"text": "3.90% Senior notes due November 1, 2020 .............................................................................. "
},
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"text": "— "
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"text": "500"
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"text": "7.75% Senior notes due April 15, 2026..................................................................................... "
},
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"text": "200 "
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"text": "200"
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"text": "7.625% Junior subordinated debentures due December 15, 2027............................................. "
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"text": "125 "
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"text": "125"
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"text": "6.375% Senior notes due March 15, 2033................................................................................. "
},
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"text": "500 "
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"text": "6.75% Senior notes due June 20, 2036...................................................................................... "
},
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"text": "400 "
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"text": "400"
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"text": "6.25% Senior notes due June 15, 2037...................................................................................... "
},
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"text": "800 "
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"text": "800"
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"text": "5.35% Senior notes due November 1, 2040 .............................................................................. "
},
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"text": "750 "
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"text": "750"
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"text": "4.60% Senior notes due August 1, 2043.................................................................................... "
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"text": "500 "
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"text": "4.30% Senior notes due August 25, 2045.................................................................................. "
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"text": "8.50% Junior subordinated debentures due December 15, 2045............................................... "
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"text": "3.75% Senior notes due May 15, 2046...................................................................................... "
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"text": "8.312% Junior subordinated debentures due July 1, 2046 ........................................................ "
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"text": "4.00% Senior notes due May 30, 2047...................................................................................... "
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"text": "4.05% Senior notes due March 7, 2048..................................................................................... "
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"text": "4.10% Senior notes due March 4, 2049..................................................................................... "
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"text": "Total long-term debt..........................................................................................................."
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"text": "Total debt principal ..........................................................................................................."
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"text": "Unamortized fair value adjustment ........................................................................................... "
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"text": "43 "
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"text": "Unamortized debt issuance costs............................................................................................... "
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"text": "(89) "
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"text": "Total debt....................................................................................................................."
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"text": "............ "
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"text": "$ 6,558 "
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"text": "$ 6,564"
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"text": "2019 Debt Issuance. On March 4, 2019, the Company issued $500 million aggregate principal amount of 4.10% senior notes that "
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"text": "will mature on March 4, 2049. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses "
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"text": "payable by the Company, totaled approximately $492 million. Interest on the senior notes is payable semi-annually in arrears on "
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"text": "March 4 and September 4. Prior to September 4, 2048, the senior notes may be redeemed, in whole or in part, at the Company’s "
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"text": "option, at any time or from time to time, at a redemption price equal to the greater of (a) 100% of the principal amount of any"
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"text": "senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to "
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"text": "but excluding September 4, 2048 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) "
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"text": "discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the"
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"text": "then current Treasury rate (as defined in the senior notes), plus 20 basis points. On or after September 4, 2048, the senior notes "
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"text": "may be redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to"
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"text": "100% of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption "
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"text": "date."
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"text": "2019 Debt Repayment. On June 2, 2019, the Company's $500 million, 5.90% senior notes matured and were fully paid. "
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "8. DEBT"
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"text": "Debt outstanding was as follows:"
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"html_seq": "<table><tr><td>(at December 31, in millions)</td><th>2019</th><th>2018</th></tr><tr><td>Short-term:</td><td></td><td></td></tr><tr><td>Commercial paper ............................................................................................................... ......</td><td>$ 100</td><td>$ 100</td></tr><tr><td>3.90% Senior notes due November 1, 2020 .................................................................</td><td>500</td><td>-</td></tr><tr><td>5.90% Senior notes due June 2, 2019........................................................................................</td><td>-</td><td>500</td></tr><tr><td>Total short-term debt</td><td>600</td><td>600</td></tr><tr><td>Long-term:</td><td></td><td></td></tr><tr><td>3.90% Senior notes due November 1, 2020 ..............................................................................</td><td>-</td><td>500</td></tr><tr><td>7.75% Senior notes due April 15, 2026.....................................................................................</td><td>200</td><td>200</td></tr><tr><td>7.625% Junior subordinated debentures due December 15, 2027.............................................</td><td>125</td><td>125</td></tr><tr><td>6.375% Senior notes due March 15, 2033.................................................................................</td><td>500</td><td>500</td></tr><tr><td>6.75% Senior notes due June 20, 2036......................................................................................</td><td>400</td><td>400</td></tr><tr><td>6.25% Senior notes due June 15, 2037......................................................................................</td><td>800</td><td>800</td></tr><tr><td>5.35% Senior notes due November 1, 2040 ..............................................................................</td><td>750</td><td>750</td></tr><tr><td>4.60% Senior notes due August 1, 2043....................................................................................</td><td>500</td><td>500</td></tr><tr><td>4.30% Senior notes due August 25, 2045..................................................................................</td><td>400</td><td>400</td></tr><tr><td>8.50% Junior subordinated debentures due December 15, 2045...............................................</td><td>56</td><td>56</td></tr><tr><td>3.75% Senior notes due May 15, 2046......................................................................................</td><td>500</td><td>500</td></tr><tr><td>8.312% Junior subordinated debentures due July 1, 2046 ........................................................</td><td>73</td><td>73</td></tr><tr><td>4.00% Senior notes due May 30, 2047......................................................................................</td><td>700</td><td>700</td></tr><tr><td>4.05% Senior notes due March 7, 2048.....................................................................................</td><td>500</td><td>500</td></tr><tr><td>4.10% Senior notes due March 4, 2049.....................................................................................</td><td>500</td><td>-</td></tr><tr><td>Total long-term debt........................................................................................................... .....</td><td>6,004</td><td>6,004</td></tr><tr><td>Total debt principal ........................................................................................................... ......</td><td>6,604</td><td>6,604</td></tr><tr><td>Unamortized fair value adjustment ...........................................................................................</td><td>43</td><td>44</td></tr><tr><td>Unamortized debt issuance costs...............................................................................................</td><td>(89)</td><td>(84)</td></tr><tr><td>Total debt..................................................................................................................... ............</td><td>$ 6,558</td><td>$ 6,564</td></tr></table>",
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"text": "2019 Debt Issuance. On March 4, 2019, the Company issued $500 million aggregate principal amount of 4.10% senior notes that will mature on March 4, 2049. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $492 million. Interest on the senior notes is payable semi-annually in arrears on March 4 and September 4. Prior to September 4, 2048, the senior notes may be redeemed, in whole or in part, at the Company's option, at any time or from time to time, at a redemption price equal to the greater of (a) 100% of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to but excluding September 4, 2048 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 20 basis points. On or after September 4, 2048, the senior notes may be redeemed, in whole or in part, at the Company's option, at any time or from time to time, at a redemption price equal to 100% of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date."
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"text": "2019 Debt Repayment. On June 2, 2019, the Company's $500 million, 5.90% senior notes matured and were fully paid."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-199 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 8. DEBT (Continued) 2018 Debt Issuance. On March 7, 2018, the Company issued $500 million aggregate principal amount of 4.05% senior notes that will mature on March 7, 2048. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $491 million. Interest on the senior notes is payable semi-annually in arrears on March 7 and September 7. Prior to September 7, 2047, the senior notes may be redeemed, in whole or in part, at the Company's option, at any time or from time to time, at a redemption price equal to the greater of (a) 100% of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to but excluding September 7, 2047 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 15 basis points. On or after September 7, 2047, the senior notes may be redeemed, in whole or in part, at the Company's option, at any time or from time to time, at a redemption price equal to 100% of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. 2018 Debt Repayment. On May 15, 2018, the Company's $500 million, 5.80% senior notes matured and were fully paid. 2017 Debt Issuance. On May 22, 2017, the Company issued $700 million aggregate principal amount of 4.00% senior notes that will mature on May 30, 2047. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $689 million. Interest on the senior notes is payable semi-annually in arrears on May 30 and November 30. Prior to November 30, 2046, the senior notes may be redeemed, in whole or in part, at the Company's option, at any time or from time to time, at a redemption price equal to the greater of (a) 100% of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to November 30, 2046 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 15 basis points. On or after November 30, 2046, the senior notes may be redeemed, in whole or in part, at the Company's option, at any time or from time to time, at a redemption price equal to 100% of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. 2017 Debt Redemption and Repayment. On June 2, 2017, the Company redeemed the remaining $107 million aggregate principal amount of its 6.25% Fixed-to-Floating Rate Junior Subordinated Debentures due 2067 at a price per debenture of 100% of the principal amount thereof, plus accrued and unpaid interest to the redemption date. On December 15, 2017, the Company's $450 million, 5.75% senior notes matured and were fully paid. Description of Debt Commercial Paper-The Company maintains an $800 million commercial paper program. Interest rates on commercial paper issued in 2019 ranged from 1.58% to 2.48%, and in 2018 ranged frfrom 1.47% to 2.37%. Senior Notes-The Company's various senior debt issues are unsecured obligations that rank equally with one another. Interest payments are made semi-annually. The Company generally may redeem some or all of the notes prior to maturity in accordance with terms unique to each debt instrument. Junior Subordinated Debentures-The Company's three junior subordinated debenture instruments are all similar in nature to each other. Three separate business trusts issued preferred securities to investors and used the proceeds to purchase the Company's junior subordinated debentures. Interest on each of the instruments is paid semi-annually. The Company's consolidated balance sheet includes the debt instruments acquired in a business acquisition, which were recorded at fair value as of the acquisition date. The resulting fair value adjustment is being amortized over the remaining life of the respective debt instruments using the effective-interest method. The amortization of the fair value adjustment reduced interest expense by $1 million and $2 million for the years ended December 31, 2019 and 2018, respectively. 180 | [
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"text": "discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the"
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"text": "May 30 and November 30. Prior to November 30, 2046, the senior notes may be redeemed, in whole or in part, at the Company’s "
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"text": "option, at any time or from time to time, at a redemption price equal to the greater of (a) 100% of the principal amount of any"
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"text": "senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to "
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"text": "November 30, 2046 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the "
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"text": "date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current "
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"text": "Treasury rate (as defined in the senior notes), plus 15 basis points. On or after November 30, 2046, the senior notes may be "
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"text": "redeemed, in whole or in part, at the Company’s option, at any time or from time to time, at a redemption price equal to 100% of "
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"text": "2017 Debt Redemption and Repayment. On June 2, 2017, the Company redeemed the remaining $107 million aggregate principal "
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"text": "amount of its 6.25% Fixed-to-Floating Rate Junior Subordinated Debentures due 2067 at a price per debenture of 100% of the "
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"text": "principal amount thereof, plus accrued and unpaid interest to the redemption date. On December 15, 2017, the Company’s $450 "
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"text": "million, 5.75% senior notes matured and were fully paid. "
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"text": "Commercial Paper—The Company maintains an $800 million commercial paper program. Interest rates on commercial paper "
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"text": "issued in 2019 ranged from 1.58% to 2.48%, and in 2018 ranged frfrom 1.47% to 2.37%."
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"text": "Senior Notes—The Company’s various senior debt issues are unsecured obligations that rank equally with one another. Interest "
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"text": "payments are made semi-annually. The Company generally may redeem some or all of the notes prior to maturity in accordance "
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"text": "Junior Subordinated Debentures—The Company’s three junior subordinated debenture instruments are all similar in nature to "
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"text": "each other. Three separate business trusts issued preferred securities to investors and used the proceeds to purchase the Company’s "
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"text": "junior subordinated debentures. Interest on each of the instruments is paid semi-annually."
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"text": "The Company’s consolidated balance sheet includes the debt instruments acquired in a business acquisition, which were recorded "
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"text": "at fair value as of the acquisition date. The resulting fair value adjustment is being amortized over the remaining life of the respective "
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"text": "debt instruments using the effective-interest method. The amortization of the fair value adjustment reduced interest expense by"
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"text": "$1 million and $2 million for the years ended December 31, 2019 and 2018, respectively."
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "2018 Debt Issuance. On March 7, 2018, the Company issued $500 million aggregate principal amount of 4.05% senior notes that will mature on March 7, 2048. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $491 million. Interest on the senior notes is payable semi-annually in arrears on March 7 and September 7. Prior to September 7, 2047, the senior notes may be redeemed, in whole or in part, at the Company's option, at any time or from time to time, at a redemption price equal to the greater of (a) 100% of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to but excluding September 7, 2047 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 15 basis points. On or after September 7, 2047, the senior notes may be redeemed, in whole or in part, at the Company's option, at any time or from time to time, at a redemption price equal to 100% of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date."
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"text": "2018 Debt Repayment. On May 15, 2018, the Company's $500 million, 5.80% senior notes matured and were fully paid."
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"text": "2017 Debt Issuance. On May 22, 2017, the Company issued $700 million aggregate principal amount of 4.00% senior notes that will mature on May 30, 2047. The net proceeds of the issuance, after the deduction of the underwriting discount and expenses payable by the Company, totaled approximately $689 million. Interest on the senior notes is payable semi-annually in arrears on May 30 and November 30. Prior to November 30, 2046, the senior notes may be redeemed, in whole or in part, at the Company's option, at any time or from time to time, at a redemption price equal to the greater of (a) 100% of the principal amount of any senior notes to be redeemed or (b) the sum of the present values of the remaining scheduled payments of principal and interest to November 30, 2046 on any senior notes to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury rate (as defined in the senior notes), plus 15 basis points. On or after November 30, 2046, the senior notes may be redeemed, in whole or in part, at the Company's option, at any time or from time to time, at a redemption price equal to 100% of the principal amount of any senior notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date."
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"text": "2017 Debt Redemption and Repayment. On June 2, 2017, the Company redeemed the remaining $107 million aggregate principal amount of its 6.25% Fixed-to-Floating Rate Junior Subordinated Debentures due 2067 at a price per debenture of 100% of the principal amount thereof, plus accrued and unpaid interest to the redemption date. On December 15, 2017, the Company's $450 million, 5.75% senior notes matured and were fully paid."
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"text": "Commercial Paper-The Company maintains an $800 million commercial paper program. Interest rates on commercial paper issued in 2019 ranged from 1.58% to 2.48%, and in 2018 ranged frfrom 1.47% to 2.37%."
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"text": "Senior Notes-The Company's various senior debt issues are unsecured obligations that rank equally with one another. Interest payments are made semi-annually. The Company generally may redeem some or all of the notes prior to maturity in accordance with terms unique to each debt instrument."
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"text": "Junior Subordinated Debentures-The Company's three junior subordinated debenture instruments are all similar in nature to each other. Three separate business trusts issued preferred securities to investors and used the proceeds to purchase the Company's junior subordinated debentures. Interest on each of the instruments is paid semi-annually."
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"text": "The Company's consolidated balance sheet includes the debt instruments acquired in a business acquisition, which were recorded at fair value as of the acquisition date. The resulting fair value adjustment is being amortized over the remaining life of the respective debt instruments using the effective-interest method. The amortization of the fair value adjustment reduced interest expense by $1 million and $2 million for the years ended December 31, 2019 and 2018, respectively."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-200 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 8. DEBT (Continued) The following table presents merger-related unamortized fair value adjustments and the related effective interest rate: The Travelers Companies, Inc. fully and unconditionally guarantees the payment of all principal, premiums, if any, and interest on certain debt obligations of its subsidiaries Travelers Property Casualty Corp. and Travelers Insurance Group Holdings, Inc. The guarantees pertain to the $200 million 7.75% notes due 2026 and the $500 million 6.375% notes due 2033. Maturities-The amount of debt obligations, other than commercial paper, that become due in each of the next five years is as follows: 2020, $500 million; 2021, $0; 2022, $0; 2023, $0; and 2024, $0 . Credit Agreement The Company is party to a five-year, $1.0 billion revolving credit agreement with a syndicate of financial institutions that expires on June 4, 2023. Pursuant to the credit agreement covenants, the Company must maintain a minimum consolidated net worth, defined as shareholders' equity determined in accordance with GAAP (excluding accumulated other comprehensive income (loss)) plus (a) trust preferred securities (not to exceed 15% of total capital) and (b) mandatorily convertible securities (combined with trust preferred securities, not to exceed 25% of total capital) less goodwill and other intangible assets. The threshold is adjdjusted downward by an amount equal to 70% of the aggregate amount of common stock repurchased by the Company after March 31, 2018, up to a maximum deduction of $1.75 billion. The threshold was $12.55 billion at December 31, 2019 and could decline to a minimum of $12.494 billion during the term of the credit agreement, subject to the Company repurchasing an additional $80 million of its common stock. In addition, the credit agreement contains other customary restrictive covenants as well as certain customary events of default, including with respect to a change in control, which is defined to include the acquisition of 35% or more of the Company's voting stock and certain changes in the composition of the Company's Board of Directors. At December 31, 2019, the Company was in compliance with these covenants. Generally, the cost of borrowing under this agreement will range from LIBOR plus 75 basis points to LIBOR plus 137.5 basis points, depending on the Company's credit ratings. At December 31, 2019, that cost would have been LIBOR plus 100 basis points, had there been any amounts outstanding under the credit agreement. In the event that LIBOR is no longer available, the credit agreement provides that the Company and the syndicate of financial institutions use commercially reasonable efforts to jointly agree upon an alternate rate of interest. Shelf Registration The Company has a shelf registration statement filed with the Securities and Exchange Commission that expires on June 10, 2022 which permits it to issue securities from time to time at prices and on other terms to be determined at the time of offering. 9. SHAREHOLDERS' EQUITY AND DIVIDEND AVAILABILITY Authorized Shares The number of authorized shares of the Company is 1.755 billion, consisting of five million shares of preferred stock, 1.745 billion shares of voting common stock and five million undesignated shares. The Company's Articles of Incorporation authorize the Board of Directors to establish, from the undesignated shares, one or more classes and series of shares, and to further designate the type of shares and terms thereof. 181 | [
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"text": "The following table presents merger-related unamortized fair value adjustments and the related effective interest rate:"
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"text": "Unamortized Fair Value"
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"text": "(in millions) "
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"text": "The Travelers Companies, Inc. fully and unconditionally guarantees the payment of all principal, premiums, if any, and interest"
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"text": "on certain debt obligations of its subsidiaries Travelers Property Casualty Corp. and Travelers Insurance Group Holdings, Inc. The "
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"text": "guarantees pertain to the $200 million 7.75% notes due 2026 and the $500 million 6.375% notes due 2033."
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"text": "Credit Agreement"
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"text": "The Company is party to a five-year, $1.0 billion revolving credit agreement with a syndicate of financial institutions that expires "
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"text": "on June 4, 2023. Pursuant to the credit agreement covenants, the Company must maintain a minimum consolidated net worth, "
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"text": "defined as shareholders’ equity determined in accordance with GAAP (excluding accumulated other comprehensive income (loss)) "
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"text": "plus (a) trust preferred securities (not to exceed 15% of total capital) and (b) mandatorily convertible securities (combined with "
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"text": "trust preferred securities, not to exceed 25% of total capital) less goodwill and other intangible assets. The threshold is adjdjusted "
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"text": "downward by an amount equal to 70% of the aggregate amount of common stock repurchased by the Company after March 31, "
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"text": "2018, up to a maximum deduction of $1.75 billion. The threshold was $12.55 billion at December 31, 2019 and could decline to "
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"text": "a minimum of $12.494 billion during the term of the credit agreement, subject to the Company repurchasing an additional $80 "
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"text": "million of its common stock. In addition, the credit agreement contains other customary restrictive covenants as well as certain "
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"text": "customary events of default, including with respect to a change in control, which is defined to include the acquisition of 35% or "
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"text": "from LIBOR plus 75 basis points to LIBOR plus 137.5 basis points, depending on the Company’s credit ratings. At December 31, "
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"text": "institutions use commercially reasonable efforts to jointly agree upon an alternate rate of interest. "
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"text": "which permits it to issue securities from time to time at prices and on other terms to be determined at the time of offering. "
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"text": "SHAREHOLDERS’ EQUITY AND DIVIDEND AVAILABILITY"
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"text": "The number of authorized shares of the Company is 1.755 billion, consisting of five million shares of preferred stock, 1.745 billion"
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"text": "shares of voting common stock and five million undesignated shares. The Company’s Articles of Incorporation authorize the "
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"text": "The Travelers Companies, Inc. fully and unconditionally guarantees the payment of all principal, premiums, if any, and interest on certain debt obligations of its subsidiaries Travelers Property Casualty Corp. and Travelers Insurance Group Holdings, Inc. The guarantees pertain to the $200 million 7.75% notes due 2026 and the $500 million 6.375% notes due 2033."
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"text": "Maturities-The amount of debt obligations, other than commercial paper, that become due in each of the next five years is as follows: 2020, $500 million; 2021, $0; 2022, $0; 2023, $0; and 2024, $0 ."
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"text": "The Company is party to a five-year, $1.0 billion revolving credit agreement with a syndicate of financial institutions that expires on June 4, 2023. Pursuant to the credit agreement covenants, the Company must maintain a minimum consolidated net worth, defined as shareholders' equity determined in accordance with GAAP (excluding accumulated other comprehensive income (loss)) plus (a) trust preferred securities (not to exceed 15% of total capital) and (b) mandatorily convertible securities (combined with trust preferred securities, not to exceed 25% of total capital) less goodwill and other intangible assets. The threshold is adjdjusted downward by an amount equal to 70% of the aggregate amount of common stock repurchased by the Company after March 31, 2018, up to a maximum deduction of $1.75 billion. The threshold was $12.55 billion at December 31, 2019 and could decline to a minimum of $12.494 billion during the term of the credit agreement, subject to the Company repurchasing an additional $80 million of its common stock. In addition, the credit agreement contains other customary restrictive covenants as well as certain customary events of default, including with respect to a change in control, which is defined to include the acquisition of 35% or more of the Company's voting stock and certain changes in the composition of the Company's Board of Directors. At December 31, 2019, the Company was in compliance with these covenants. Generally, the cost of borrowing under this agreement will range from LIBOR plus 75 basis points to LIBOR plus 137.5 basis points, depending on the Company's credit ratings. At December 31, 2019, that cost would have been LIBOR plus 100 basis points, had there been any amounts outstanding under the credit agreement. In the event that LIBOR is no longer available, the credit agreement provides that the Company and the syndicate of financial institutions use commercially reasonable efforts to jointly agree upon an alternate rate of interest."
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"text": "The Company has a shelf registration statement filed with the Securities and Exchange Commission that expires on June 10, 2022 which permits it to issue securities from time to time at prices and on other terms to be determined at the time of offering."
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"text": "9. SHAREHOLDERS' EQUITY AND DIVIDEND AVAILABILITY"
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"text": "Authorized Shares"
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"text": "The number of authorized shares of the Company is 1.755 billion, consisting of five million shares of preferred stock, 1.745 billion shares of voting common stock and five million undesignated shares. The Company's Articles of Incorporation authorize the Board of Directors to establish, from the undesignated shares, one or more classes and series of shares, and to further designate the type of shares and terms thereof."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-201 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 9. SHAREHOLDERS' EQUITY AND DIVIDEND AVAILABILITY (Continued) Preferred Stock The Company's Articles of Incorporation provide authority to issue up to five million shares of preferred stock. Common Stock The Company is governed by the Minnesota Business Corporation Act. All authorized shares of voting common stock have no par value. Shares of common stock reacquired are considered authorized and unissued shares. Restricted Stock At December 31, 2019, 41,997 shares of restricted stock issued by the Company in August 2017 to certain employees of an acquired business remained outstanding and unvested. The restricted shares vest in August 2020 and are subject to service conditions. As a result, the value of the shares is recognized over the vesting period and is included with the share-based compensation cost of awards that are issued under the Company's share-based incentive compensation plan (see note 13). Recipients generally have all the rights of a shareholder of the Company including the right to vote the applicable shares of common stock and to receive dividends on such shares, if and as declared by the Board of Directors. The restricted shares are held under the Company's control with the Company's transfer agent and will be released upon vesting. Treasury Stock The Company's Board of Directors has approved common share repurchase authorizations under which repurchases may be made from time to time in the open market, pursuant to pre-set trading plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, in private transactions or otherwise. The authorizations do not have a stated expiration date . The timing and actual number of shares to be repurchased in the future will depend on a variety of factors, including the Company's financial position, earnings, share price, catastrophe losses, maintaining capital levels commensurate with the Company's desired ratings from independent rating agencies, changes in levels of written premiums, funding of the Company's qualified pension plan, capital requirements of the Company's operating subsidiaries, legal requirements, regulatory constraints, other investment opportunities (including mergers and acquisitions and related financings), market conditions and other factors. In April 2017, the Board of Directors approved a share repurchase authorization that added an additional $5.0 billion of repurchase capacity. The following table summarizes repurchase activity in 2019 and remaining repurchase capacity at December 31, 2019. The Company's Amended and Restated 2004 Stock Incentive Plan and the Amended and Restated 2014 Stock Incentive Plan provide settlement alternatives to employees in which the Company retains shares to cover payroll withholding taxes in connection with the vesting of restricted stock unit awards and performance share awards, and shares used by employees to cover the price of certain stock options that were exercised. During the years ended December 31, 2019 and 2018, the Company acquired $48 million and $51 million, respectively, of its common stock under these plans. Common shares acquired are reported as treasury stock in the consolidated balance sheet. 182 | [
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"text": "under share repurchase"
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"text": "authorization"
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"text": "March 31, 2019 .................................................... "
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"text": "2.9 $ 375 $ 129.42 $ "
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"text": "June 30, 2019........................................................ "
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"text": "September 30, 2019.............................................. "
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"text": "December 31, 2019 .............................................. "
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"text": "Total................................................................ "
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"text": "10.8 $ 1,500 "
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"text": "The Company’s Amended and Restated 2004 Stock Incentive Plan and the Amended and Restated 2014 Stock Incentive Plan "
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"text": "provide settlement alternatives to employees in which the Company retains shares to cover payroll withholding taxes in connection "
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"text": "of certain stock options that were exercised. During the years ended December 31, 2019 and 2018, the Company acquired $48 "
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "The Company's Amended and Restated 2004 Stock Incentive Plan and the Amended and Restated 2014 Stock Incentive Plan provide settlement alternatives to employees in which the Company retains shares to cover payroll withholding taxes in connection with the vesting of restricted stock unit awards and performance share awards, and shares used by employees to cover the price of certain stock options that were exercised. During the years ended December 31, 2019 and 2018, the Company acquired $48 million and $51 million, respectively, of its common stock under these plans."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-202 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 9. SHAREHOLDERS' EQUITY AND DIVIDEND AVAILABILITY (Continued) Dividend Availability The Company's U.S. insurance subsidiaries, domiciled principally in the State of Connecticut, are subject to various regulatory restrictions that limit the maximum amount of dividends available to be paid by each insurance subsidiary to its respective parent company without prior approval of insurance regulatory authorities. A maximum of $2.79 billion is available by the end of 2020 for such dividends to the holding company, TRV, without prior approval of the Connecticut Insurance Department. The Company may choose to accelerate the timing within 2020 and/or increase the amount of dividends from its insurance subsidiaries in 2020 , which could result in certain dividends being subject to approval by the Connecticut Insurance Department. In addition to the regulatory restrictions on the availability of dividends that can be paid by the Company's U.S. insurance subsidiaries, the maximum amount of dividends that may be paid to the Company's shareholders is limited, to a lesser degree, by certain covenants contained in its line of credit agreement with a syndicate of financial institutions that require the Company to maintain a minimum consolidated net worth as described in note 8. TRV is not dependent on dividends or other forms of repatriation from its foreign operations to support its liquidity needs. The undistributed earnings of the Company's foreign operations are intended to be permanently reinvested in those operations, and such earnings were not material to the Company's financial position or liquidity at December 31, 2019. TRV and its two non-insurance holding company subsidiaries received dividends of $2.50 billion, $2.30 billion and $2.33 billion from their U.S. insurance subsidiaries in 2019, 2018 and 2017, respectively. For the years ended December 31, 2019, 2018 and 2017, TRV declared cash dividends per common share of $3.23, $3.03 and $2.83, respectively, and paid cash dividends of $844 million, $814 million and $785 million, respectively. Statutory Net Income and Statutory Capital and Surplus Statutory net income of the Company's domestic and international insurance subsidiaries was $2.74 billion, $2.61 billion and $2.30 billion for the years ended December 31, 2019, 2018 and 2017, respectively. Statutory capital and surplus of the Company's domestic and international insurance subsidiaries was $21.33 billion and $20.77 billion at December 31, 2019 and 2018, respectively. 183 | [
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"text": "restrictions that limit the maximum amount of dividends available to be paid by each insurance subsidiary to its respective parent "
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"text": "company without prior approval of insurance regulatory authorities. A maximum of $2.79 billion is available by the end of 2020"
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"text": "for such dividends to the holding company, TRV, without prior approval of the Connecticut Insurance Department. The Company "
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"text": "may choose to accelerate the timing within 2020 and/or increase the amount of dividends from its insurance subsidiaries in 2020"
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"text": "which could result in certain dividends being subject to approval by the Connecticut Insurance Department."
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"text": "In addition to the regulatory restrictions on the availability of dividends that can be paid by the Company’s U.S. insurance "
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"text": "subsidiaries, the maximum amount of dividends that may be paid to the Company’s shareholders is limited, to a lesser degree, by"
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"text": "certain covenants contained in its line of credit agreement with a syndicate of financial institutions that require the Company to "
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"text": "TRV is not dependent on dividends or other forms of repatriation from its foreign operations to support its liquidity needs. The "
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"text": "undistributed earnings of the Company’s foreign operations are intended to be permanently reinvested in those operations, and "
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"text": "such earnings were not material to the Company's financial position or liquidity at December 31, 2019."
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"text": "TRV and its two non-insurance holding company subsidiaries received dividends of $2.50 billion, $2.30 billion and $2.33 billion"
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"text": "from their U.S. insurance subsidiaries in 2019, 2018 and 2017, respectively."
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"text": "Statutory Net Income and Statutory Capital and Surplus"
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"text": "Statutory net income of the Company’s domestic and international insurance subsidiaries was $2.74 billion, $2.61 billion and $2.30 "
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"text": "The Company's U.S. insurance subsidiaries, domiciled principally in the State of Connecticut, are subject to various regulatory restrictions that limit the maximum amount of dividends available to be paid by each insurance subsidiary to its respective parent company without prior approval of insurance regulatory authorities. A maximum of $2.79 billion is available by the end of 2020 for such dividends to the holding company, TRV, without prior approval of the Connecticut Insurance Department. The Company may choose to accelerate the timing within 2020 and/or increase the amount of dividends from its insurance subsidiaries in 2020 , which could result in certain dividends being subject to approval by the Connecticut Insurance Department."
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"text": "TRV and its two non-insurance holding company subsidiaries received dividends of $2.50 billion, $2.30 billion and $2.33 billion from their U.S. insurance subsidiaries in 2019, 2018 and 2017, respectively."
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"text": "For the years ended December 31, 2019, 2018 and 2017, TRV declared cash dividends per common share of $3.23, $3.03 and $2.83, respectively, and paid cash dividends of $844 million, $814 million and $785 million, respectively."
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"text": "Statutory Net Income and Statutory Capital and Surplus"
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"text": "Statutory net income of the Company's domestic and international insurance subsidiaries was $2.74 billion, $2.61 billion and $2.30 billion for the years ended December 31, 2019, 2018 and 2017, respectively. Statutory capital and surplus of the Company's domestic and international insurance subsidiaries was $21.33 billion and $20.77 billion at December 31, 2019 and 2018, respectively."
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] | {
"filename": "NYSE_TRV_2019.pdf",
"page": 202
} |
e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-203 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 10. OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME The following table presents the changes in the Company's accumulated other comprehensive income (AOCI) for the years ended December 31, 2019, 2018 and 2017. 184 | [
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"text": "Net of taxes ............................. "
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"text": "Reclassification of certain tax"
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"text": "Total effect of adoption of"
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"text": "net of tax ............................... "
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"text": "Amounts reclassified from"
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"text": "AOCI, net of tax.................... "
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"text": "Balance, December 31, 2018 "
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"text": "... "
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"text": "OCI before reclassifications,"
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"text": "net of tax ............................... "
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"text": "2,406 "
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"text": "Amounts reclassified from"
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"text": "AOCI, net of tax.................... "
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"text": "2,363 "
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"text": "Balance, December 31, 2019 "
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"text": "... "
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"text": "$ "
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"text": "2,057 $ "
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"text": "189 $ "
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"text": "(846) $ "
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"text": "(760) $ "
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"ocr_confidence": 1,
"text": "640"
}
] | [
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"data": [],
"index_in_doc": 2659,
"label": "section_header",
"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"data": [],
"index_in_doc": 2660,
"label": "section_header",
"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"data": [],
"index_in_doc": 2661,
"label": "section_header",
"text": "10. OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME"
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"label": "text",
"text": "The following table presents the changes in the Company's accumulated other comprehensive income (AOCI) for the years ended December 31, 2019, 2018 and 2017."
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"html_seq": "<table><tr><td></td><th colspan=\"2\">Changes in Net Unrealized Gains (Losses) on Investment Securities</th><td></td><td></td><td></td></tr><tr><td>(in millions)</td><th>Having No Credit Losses Recognized in the Consolidated Statement of Income</th><th>Having Credit Losses Recognized in the Consolidated Statement of Income</th><th>Net Benefit Plan Assets and Obligations Recognized in Shareholders' Equity</th><th>Net Unrealized Foreign Currency Translation</th><th>Total Accumulated Other Comprehensive Income (Loss)</th></tr><tr><td>Balance, December 31, 2016 ...</td><td>$ 528 $</td><td>202 $</td><td>(703) $</td><td>(782) $</td><td>(755)</td></tr><tr><td>Other comprehensive income (loss) (OCI) before reclassifications, net of tax....</td><td>367</td><td>4</td><td>(24)</td><td>171</td><td>518</td></tr><tr><td>Amounts reclassified from AOCI, net of tax....................</td><td>(148)</td><td>1</td><td>41</td><td>-</td><td>(106)</td></tr><tr><td>Net OCI, current period..........</td><td>219</td><td>5</td><td>17</td><td>171</td><td>412</td></tr><tr><td>Balance, December 31, 2017 ...</td><td>747</td><td>207</td><td>(686)</td><td>(611)</td><td>(343)</td></tr><tr><td>Cumulative effect of adoption of updated accounting guidance for equity financial instruments at January 1, 2018.......................................</td><td>(34)</td><td>-</td><td>-</td><td>-</td><td>(34)</td></tr><tr><td>Income tax benefit .....................</td><td>(12)</td><td>-</td><td>-</td><td>-</td><td>(12)</td></tr><tr><td>Net of taxes .............................</td><td>(22)</td><td>-</td><td>-</td><td>-</td><td>(22)</td></tr><tr><td>Reclassification of certain tax effects from accumulated other comprehensive income at January 1, 2018 .................</td><td>145</td><td>7</td><td>(141)</td><td>(35)</td><td>(24)</td></tr><tr><td>Total effect of adoption of new guidance at January 1, 2018, net of tax.............</td><td>123</td><td>7</td><td>(141)</td><td>(35)</td><td>(46)</td></tr><tr><td>OCI before reclassifications, net of tax ...............................</td><td>(1,151)</td><td>(21)</td><td>(114)</td><td>(227)</td><td>(1,513)</td></tr><tr><td>Amounts reclassified from AOCI, net of tax....................</td><td>(25)</td><td>-</td><td>68</td><td>-</td><td>43</td></tr><tr><td>Net OCI, current period..........</td><td>(1,176)</td><td>(21)</td><td>(46)</td><td>(227)</td><td>(1,470)</td></tr><tr><td>Balance, December 31, 2018 ...</td><td>(306)</td><td>193</td><td>(873)</td><td>(873)</td><td>(1,859)</td></tr><tr><td>OCI before reclassifications, net of tax ...............................</td><td>2,406</td><td>(4)</td><td>(14)</td><td>106</td><td>2,494</td></tr><tr><td>AOCI, net of tax....................</td><td>(43)</td><td>-</td><td>41</td><td>7</td><td>5</td></tr><tr><td>Net OCI, current period..........</td><td>2,363</td><td>(4)</td><td>27</td><td>113</td><td>2,499</td></tr><tr><td>Balance, December 31, 2019 ...</td><td>$ 2,057 $</td><td>189 $</td><td>(846) $</td><td>(760) $</td><td>640</td></tr></table>",
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-204 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 10. OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME (Continued) The following table presents the pre-tax components of the Company's other comprehensive income (loss) and the related income tax expense (benefit). 185 | [
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"text": "The following table presents the pre-tax components of the Company’s other comprehensive income (loss) and the related income "
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"text": "tax expense (benefit)."
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"text": "(for the year ended December 31, in millions) "
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"text": "(1,489) $ 294"
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"text": "Income tax expense (benefit)....................................................................... "
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"text": "Net of taxes............................................................................................. "
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"text": "Having credit losses recognized in the consolidated statement of income . "
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"text": "Net of taxes............................................................................................. "
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"text": "Net changes in benefit plan assets and obligations........................................ "
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"text": "Net of taxes............................................................................................. "
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"text": "Income tax expense (benefit)......................................................................... "
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"text": "Total other comprehensive income (loss)............................................... "
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"text": "Total income tax expense (benefit)......................................................... "
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"text": "Total other comprehensive income (loss), net of taxes"
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"text": "10. OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME (Continued)"
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"text": "The following table presents the pre-tax components of the Company's other comprehensive income (loss) and the related income tax expense (benefit)."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-205 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 10. OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME (Continued) The following table presents the pre-tax and related income tax (expense) benefit components of the amounts reclassified from the Company's AOCI to the Company's consolidated statement of income. ___________________________________________ (1) (Increases) decreases net realized investment gains on the consolidated statement of income. (2) (Increases) decreases income tax expense on the consolidated statement of income. (3) Increases (decreases) expenses on the consolidated statement of income. 186 | [
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"text": "The following table presents the pre-tax and related income tax (expense) benefit components of the amounts reclassified from "
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"text": "the Company’s AOCI to the Company’s consolidated statement of income."
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"text": "(for the year ended December 31, in millions) "
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"text": "investment securities:"
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"text": "Having no credit losses recognized in the consolidated statement of \r\n(1)"
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"text": ".................................................................................................. "
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"text": "$ "
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"text": "(55) $ "
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"text": "(32) $ "
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"text": "Income tax expense "
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"text": "................................................................................. "
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"text": "Net of taxes............................................................................................. "
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"text": "Having credit losses recognized in the consolidated \r\n(1) "
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"text": "statement of income "
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"text": "............................................................................. "
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"text": "— "
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"text": "Income tax benefit "
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"text": "................................................................................... "
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"text": "— —"
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"text": "Net of taxes............................................................................................. "
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"text": "— 1"
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"text": "Reclassification adjustment related to benefit plan"
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"text": "assets and obligations: "
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"text": ".............................................................................."
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"text": "Claims and claim adjustment expenses "
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"text": ".................................................. "
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"text": "General and administrative expenses "
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"text": "..................................................... "
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"text": "Total ........................................................................................................ "
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"text": "Income tax benefit "
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"text": "Net of taxes............................................................................................. "
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"text": "Net of taxes............................................................................................. "
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"text": "Total reclassifications ............................................................................. "
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"text": "Total income tax (expense) benefit......................................................... "
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"text": "Total reclassifications, net of taxes "
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"text": "___________________________________________"
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"text": "(1) (Increases) decreases net realized investment gains on the consolidated statement of income."
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "10. OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME (Continued)"
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"text": "The following table presents the pre-tax and related income tax (expense) benefit components of the amounts reclassified from the Company's AOCI to the Company's consolidated statement of income."
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"html_seq": "<table><tr><td>(for the year ended December 31, in millions)</td><th>2019</th><th>2018</th><th>2017</th></tr><tr><td>Reclassification adjustments related to unrealized gains (losses) on investment securities:</td><td></td><td></td><td></td></tr><tr><td>Having no credit losses recognized in the consolidated statement of (1) income (1) ..................................................................................................</td><td>$ (55) $</td><td>(32) $</td><td>(228)</td></tr><tr><td>Income tax expense (2) .................................................................................</td><td>(12)</td><td>(7)</td><td>(80)</td></tr><tr><td>Net of taxes.............................................................................................</td><td>(43)</td><td>(25)</td><td>(148)</td></tr><tr><td>Having credit losses recognized in the consolidated (1) statement of income (1) .............................................................................</td><td>-</td><td>- 1</td><td></td></tr><tr><td>Income tax benefit (2) ...................................................................................</td><td>-</td><td></td><td>- -</td></tr><tr><td>Net of taxes.............................................................................................</td><td>-</td><td>- 1</td><td></td></tr><tr><td>Reclassification adjustment related to benefit plan assets and obligations: ..............................................................................</td><td></td><td></td><td></td></tr><tr><td>Claims and claim adjustment expenses (3) ..................................................</td><td>21</td><td>35</td><td>32</td></tr><tr><td>General and administrative expenses (3) .....................................................</td><td>31</td><td>51</td><td>48</td></tr><tr><td>Total ........................................................................................................</td><td>52</td><td>86</td><td>80</td></tr><tr><td>Income tax benefit (2) .....................................................................................</td><td>11</td><td>18</td><td>39</td></tr><tr><td>Net of taxes.............................................................................................</td><td>41</td><td>68</td><td>41</td></tr><tr><td>Reclassification adjustment related to foreign currency translation (1) ..........</td><td>7</td><td></td><td>- -</td></tr><tr><td>Income tax benefit (2) .....................................................................................</td><td>-</td><td></td><td>- -</td></tr><tr><td>Net of taxes.............................................................................................</td><td>7</td><td></td><td>- -</td></tr><tr><td>Total reclassifications .............................................................................</td><td>4</td><td>54</td><td>(147)</td></tr><tr><td>Total income tax (expense) benefit.........................................................</td><td>(1)</td><td>11</td><td>(41)</td></tr><tr><td>Total reclassifications, net of taxes .................................................</td><td>$ 5</td><td>$ 43 $</td><td>(106)</td></tr></table>",
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"text": "(1) (Increases) decreases net realized investment gains on the consolidated statement of income."
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"text": "(3) Increases (decreases) expenses on the consolidated statement of income."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-206 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 11. EARNINGS PER SHARE Basic earnings per share was computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. The computation of diluted earnings per share reflected the effect of potentially dilutive securities and excludes the effect of any anti-dilutive shares. Potentially dilutive securities include restricted stock units, deferred stock units, stock options and performance share awards related to the employee share-based incentive compensation programs. The restricted stock units and deferred stock units contain non-forfeitable rights to dividends and are included as participating securities in the calculation of basic and diluted earnings per share using the two-class method. Stock option and performance share awards are included in the calculation of diluted earnings per share using the treasury stock method. The following is a reconciliation of the income and share data used in the basic and diluted earnings per share computations: 187 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "EARNINGS PER SHARE"
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"text": "Basic earnings per share was computed by dividing net income available to common shareholders by the weighted average number "
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"text": "of common shares outstanding during the period. The computation of diluted earnings per share reflected the effect of potentially "
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"text": "dilutive securities and excludes the effect of any anti-dilutive shares. "
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"text": "Potentially dilutive securities include restricted stock units, deferred stock units, stock options and performance share awards "
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"text": "related to the employee share-based incentive compensation programs. The restricted stock units and deferred stock units contain "
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"text": "non-forfeitable rights to dividends and are included as participating securities in the calculation of basic and diluted earnings per "
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"text": "share using the two-class method. Stock option and performance share awards are included in the calculation of diluted earnings "
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"text": "per share using the treasury stock method. "
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"text": "The following is a reconciliation of the income and share data used in the basic and diluted earnings per share computations:"
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"text": "(for the year ended December 31, in millions, except per share amounts) "
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"text": "2019 "
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"text": "2018 "
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"text": "2017"
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"text": "Basic and Diluted"
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"text": "Net income, as reported ................................................................................. "
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"text": "$ 2,622 "
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"text": "$ 2,523 $ 2,056"
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"text": "Participating securities — allocated income.................................................. "
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"text": "(19) "
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"text": "(19) "
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"text": "Net income available to common shareholders — basic and diluted..... "
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"text": "$ 2,603 "
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"text": "$ 2,504 $ 2,041"
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"text": "Common Shares"
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"text": "Basic"
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"text": "Weighted average shares outstanding ............................................................ "
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"text": "260.0 "
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"text": "267.4 276.0"
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"text": "Diluted"
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"text": "Weighted average shares outstanding ............................................................ "
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"text": "260.0 "
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"text": "267.4 276.0"
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"text": "Weighted average effects of dilutive securities:"
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"text": "Stock options and performance shares ........................................................ "
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"text": "2.3 "
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"text": "2.4 "
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"text": "2.6"
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"text": "Total ................................................................................................... "
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"text": "262.3 "
},
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"text": "269.8 278.6"
},
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"text": "Net income Per Common Share "
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"text": "0"
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"text": "Basic............................................................................................................... "
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"text": "$ 10.01 "
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"text": "$ 9.37 $ 7.39"
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"text": "Diluted............................................................................................................ "
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"text": "$ 9.92 "
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"text": "$ 9.28 $ 7.33"
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"label": "section_header",
"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "11. EARNINGS PER SHARE"
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"text": "Basic earnings per share was computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. The computation of diluted earnings per share reflected the effect of potentially dilutive securities and excludes the effect of any anti-dilutive shares."
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"text": "Potentially dilutive securities include restricted stock units, deferred stock units, stock options and performance share awards related to the employee share-based incentive compensation programs. The restricted stock units and deferred stock units contain non-forfeitable rights to dividends and are included as participating securities in the calculation of basic and diluted earnings per share using the two-class method. Stock option and performance share awards are included in the calculation of diluted earnings per share using the treasury stock method."
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"text": "The following is a reconciliation of the income and share data used in the basic and diluted earnings per share computations:"
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"html_seq": "<table><tr><td>(for the year ended December 31, in millions, except per share amounts)</td><th>2019</th><th>2018 2017</th></tr><tr><td>Basic and Diluted</td><td></td><td></td></tr><tr><td>Net income, as reported .................................................................................</td><td>$ 2,622</td><td>$ 2,523 $ 2,056</td></tr><tr><td>Participating securities - allocated income..................................................</td><td>(19)</td><td>(19) (15)</td></tr><tr><td>Net income available to common shareholders - basic and diluted.....</td><td>$ 2,603</td><td>$ 2,504 $ 2,041</td></tr><tr><td>Common Shares</td><td></td><td></td></tr><tr><td>Basic</td><td></td><td></td></tr><tr><td>Weighted average shares outstanding ............................................................</td><td>260.0</td><td>267.4 276.0</td></tr><tr><td>Diluted</td><td></td><td></td></tr><tr><td>Weighted average shares outstanding ............................................................</td><td>260.0</td><td>267.4 276.0</td></tr><tr><td>Weighted average effects of dilutive securities:</td><td></td><td></td></tr><tr><td>Stock options and performance shares ........................................................</td><td>2.3</td><td>2.4 2.6</td></tr><tr><td>Total ...................................................................................................</td><td>262.3</td><td>269.8 278.6</td></tr><tr><td>Net income Per Common Share</td><td>0</td><td></td></tr><tr><td>Basic...............................................................................................................</td><td>$ 10.01</td><td>$ 9.37 $ 7.39</td></tr><tr><td>Diluted............................................................................................................</td><td>$ 9.92</td><td>$ 9.28 $ 7.33</td></tr></table>",
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} |
e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-207 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 12. INCOME TAXES Components of Income Tax Expense The following table presents the components of income tax expense included in the amounts reported in the Company's consolidated financial statements: 188 | [
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"text": "12. "
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"text": "INCOME TAXES"
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"text": "Components of Income Tax Expense"
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"text": "The following table presents the components of income tax expense included in the amounts reported in the Company’s consolidated "
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"text": "financial statements:"
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"text": "(for the year ended December 31, in millions) "
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"text": "2019 "
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"text": "2018 "
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"text": "2017"
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"text": "Composition of income tax expense included in the consolidated"
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"text": "statement of income"
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"text": "Current expense:"
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"text": "Federal ......................................................................................................... "
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"text": "$ 546 "
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"text": "$ 424 $ 314"
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"text": "Impact of TCJA at enactment...................................................................... "
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"text": "— "
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"text": "21"
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"text": "Foreign......................................................................................................... "
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"text": "7 "
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"text": "41 "
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"text": "State ............................................................................................................. "
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"text": "6 "
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"text": "Total current tax expense........................................................................ "
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"text": "473 "
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"text": "Deferred expense (benefit):"
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"text": "Federal ......................................................................................................... "
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"text": "(33) "
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"text": "Impact of TCJA at enactment...................................................................... "
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"text": "Foreign......................................................................................................... "
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"text": "Total deferred tax expense (benefit) ....................................................... "
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"text": "income ........................................................................................................ "
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"text": "Composition of income tax expense (benefit) included in shareholders’"
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"text": "equity"
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"text": "Expense (benefit) relating to changes in the unrealized gain (loss) on"
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"text": "investments, unrealized loss on foreign exchange and other items in"
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"text": "other comprehensive income (loss)............................................................ "
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"text": "641 "
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"text": "Total income tax expense included in the consolidated financial statements "
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "12. INCOME TAXES"
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"text": "Components of Income Tax Expense"
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"text": "The following table presents the components of income tax expense included in the amounts reported in the Company's consolidated financial statements:"
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-208 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 12. INCOME TAXES (Continued) The following is a reconciliation of income tax expense at the U.S. federal statutory income tax rate to the income tax expense reported in the Company's consolidated statement of income: The Company paid income taxes of $428 million, $408 million and $514 million during the years ended December 31, 2019, 2018 and 2017, respectively. The current income tax payable of $126 million at December 31, 2019 was included in other liabilities in the consolidated balance sheet. The current income tax receivable of $12 million at December 31, 2018 was included in other assets in the consolidated balance sheet. Tax Cuts and Jobs Act of 2017 On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act of 2017 (TCJA) which, among other changes, reduced the U.S. federal tax rate from 35% to 21% beginning on January 1, 2018 and imposed a tax on undistributed and previously untaxed post-1986 foreign earnings and profits (accumulated foreign earnings). Total income tax expense for 2017 included a net charge of $129 million to reflect the estimated impacts of the changes in tax laws and tax rates included in TCJA at the date of enactment, primarily reflecting the revaluation of the Company's deferred tax assets and liabilities at the new statutory federal tax rate of 21%, and the recognition of tax imposed on accumulated foreign earnings. The estimated effects of enactment of TCJA were reflected in the Company's net deferred tax asset and current income tax receivable reported on the Company's consolidated balance sheet at December 31, 2017. In computing taxable income, property and casualty insurers reduce underwriting income by claims and claim adjustment expenses incurred. The deduction for claims incurred is discounted at the interest rates and for the claim payment patterns prescribed by the U.S. Treasury. TCJA changed the prescribed interest rates to rates based on corporate bond yield curves and extended the applicable time periods for the claim payment pattern. These changes were effective for tax years beginning after 2017 and are subject to a transition rule that spreads the additional tax payment from the amount determined by applying these changes over the subsequent eight years beginning in 2018. This item is a taxable temporary difference and had no direct impact on total tax expense for 2017 and will not directly impact total tax expense in future years. The required additional tax payments are currently estimated to approximate $19 million per year through 2025 and will result in a modest reduction in net investment income over that period. The U.S. Treasury issued final regulations for the tax discounting of loss reserves that became effective in June 2019. The final regulations did not materially impact the Company's amounts payable related to the transition rules for discounting loss reserves. During the fourth quarter of 2017, the Company recorded provisional amounts for the tax imposed on accumulated foreign earnings and partnership investments, as well as the amount due under the transition rule relating to the change in discounting of claims incurred, based on information available at December 31, 2017. In 2018, the Company made minor adjustments to the provisional amounts for taxes related to accumulated foreign earnings based upon final earnings from its foreign operations and the proposed 189 | [
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"text": "INCOME TAXES (Continued)"
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"text": "The following is a reconciliation of income tax expense at the U.S. federal statutory income tax rate to the income tax expense"
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"text": "reported in the Company’s consolidated statement of income:"
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"text": "(for the year ended December 31, in millions) "
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"text": "2017"
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"text": "Income (loss) before income taxes"
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"text": "U.S. ................................................................................................................ "
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"text": "$ 3,211 "
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"text": "$ 3,039 $ 2,798"
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"text": "Foreign ........................................................................................................... "
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"text": "(73) "
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"text": "(68)"
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"text": "Total income before income taxes............................................................... "
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"text": "3,138 "
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"text": "2,961 2,730"
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"text": "Effective tax rate"
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"text": "Statutory tax rate............................................................................................ "
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"text": "21% "
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"text": "21% "
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"text": "35%"
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"text": "Expected federal income tax expense............................................................ "
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"text": "659 "
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"text": "Tax effect of:"
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"text": "Nontaxable investment income ................................................................... "
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"text": "(149) "
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"text": "(150) "
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"text": "TCJA at enactment ...................................................................................... "
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"text": "— "
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"text": "129"
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"text": "Other, net ..................................................................................................... "
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"text": "6 "
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"text": "Total income tax expense............................................................................... "
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"text": "The Company paid income taxes of $428 million, $408 million and $514 million during the years ended December 31, 2019, 2018"
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"text": "the consolidated balance sheet. The current income tax receivable of $12 million at December 31, 2018 was included in other "
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"text": "Tax Cuts and Jobs Act of 2017"
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"text": "U.S. federal tax rate from 35% to 21% beginning on January 1, 2018 and imposed a tax on undistributed and previously untaxed "
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"text": "post-1986 foreign earnings and profits (accumulated foreign earnings). Total income tax expense for 2017 included a net charge"
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"text": "of $129 million to reflect the estimated impacts of the changes in tax laws and tax rates included in TCJA at the date of enactment, "
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"text": "and the recognition of tax imposed on accumulated foreign earnings. The estimated effects of enactment of TCJA were reflected "
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"text": "in the Company's net deferred tax asset and current income tax receivable reported on the Company’s consolidated balance sheet "
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"text": "In computing taxable income, property and casualty insurers reduce underwriting income by claims and claim adjustment expenses "
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"text": "applicable time periods for the claim payment pattern. These changes were effective for tax years beginning after 2017 and are"
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"text": "the subsequent eight years beginning in 2018. This item is a taxable temporary difference and had no direct impact on total tax "
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"text": "estimated to approximate $19 million per year through 2025 and will result in a modest reduction in net investment income over "
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"text": "regulations did not materially impact the Company’s amounts payable related to the transition rules for discounting loss reserves."
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"text": "During the fourth quarter of 2017, the Company recorded provisional amounts for the tax imposed on accumulated foreign earnings"
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"text": "and partnership investments, as well as the amount due under the transition rule relating to the change in discounting of claims "
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"text": "12. INCOME TAXES (Continued)"
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"text": "The following is a reconciliation of income tax expense at the U.S. federal statutory income tax rate to the income tax expense reported in the Company's consolidated statement of income:"
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"text": "The Company paid income taxes of $428 million, $408 million and $514 million during the years ended December 31, 2019, 2018 and 2017, respectively. The current income tax payable of $126 million at December 31, 2019 was included in other liabilities in the consolidated balance sheet. The current income tax receivable of $12 million at December 31, 2018 was included in other assets in the consolidated balance sheet."
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"text": "On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act of 2017 (TCJA) which, among other changes, reduced the U.S. federal tax rate from 35% to 21% beginning on January 1, 2018 and imposed a tax on undistributed and previously untaxed post-1986 foreign earnings and profits (accumulated foreign earnings). Total income tax expense for 2017 included a net charge of $129 million to reflect the estimated impacts of the changes in tax laws and tax rates included in TCJA at the date of enactment, primarily reflecting the revaluation of the Company's deferred tax assets and liabilities at the new statutory federal tax rate of 21%, and the recognition of tax imposed on accumulated foreign earnings. The estimated effects of enactment of TCJA were reflected in the Company's net deferred tax asset and current income tax receivable reported on the Company's consolidated balance sheet at December 31, 2017."
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"text": "In computing taxable income, property and casualty insurers reduce underwriting income by claims and claim adjustment expenses incurred. The deduction for claims incurred is discounted at the interest rates and for the claim payment patterns prescribed by the U.S. Treasury. TCJA changed the prescribed interest rates to rates based on corporate bond yield curves and extended the applicable time periods for the claim payment pattern. These changes were effective for tax years beginning after 2017 and are subject to a transition rule that spreads the additional tax payment from the amount determined by applying these changes over the subsequent eight years beginning in 2018. This item is a taxable temporary difference and had no direct impact on total tax expense for 2017 and will not directly impact total tax expense in future years. The required additional tax payments are currently estimated to approximate $19 million per year through 2025 and will result in a modest reduction in net investment income over that period."
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"text": "The U.S. Treasury issued final regulations for the tax discounting of loss reserves that became effective in June 2019. The final regulations did not materially impact the Company's amounts payable related to the transition rules for discounting loss reserves."
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"text": "During the fourth quarter of 2017, the Company recorded provisional amounts for the tax imposed on accumulated foreign earnings and partnership investments, as well as the amount due under the transition rule relating to the change in discounting of claims incurred, based on information available at December 31, 2017. In 2018, the Company made minor adjustments to the provisional amounts for taxes related to accumulated foreign earnings based upon final earnings from its foreign operations and the proposed"
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"text": "regulations issued by the U.S. Treasury. These minor adjustments were consistent with final regulations issued by the U.S. Treasury "
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"text": "based upon the latest available information associated with those investments (Form K-1s) that were received in 2018 and 2019. "
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"text": "(at December 31, in millions) "
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"text": "Total gross deferred tax assets................................................................................................"
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"text": "Less: valuation allowance ......................................................................................................"
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"text": "Adjusted gross deferred tax assets .......................................................................................... "
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"text": "Claims and claim adjustment expense reserve discounting (transition rule) ............................ "
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"text": "Other.........................................................................................................................."
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"text": "Total gross deferred tax liabilities........................................................................................... "
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"text": "1,540 "
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"text": "Net deferred tax asset (liability)............................................................................................."
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"text": "$ "
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"text": "(137) $ 445"
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"text": "If the Company determines that any of its deferred tax assets will not result in future tax benefits, a valuation allowance must be "
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"text": "established for the portion of these assets that are not expected to be realized. The net change in the valuation allowance for "
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"text": "deferred tax assets was an increase of $19 million in 2019, $16 million relating to the Company's Republic of Ireland subsidiary, "
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"text": "$2 million relating to the Company's consolidated Brazilian subsidiary and $1 million relating to the Company's Canadian subsidiary. "
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"text": "Based upon a review of the Company’s anticipated future taxable income, and also including all other available evidence, both "
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"text": "positive and negative, the Company’s management concluded that it is more likely than not that the net deferred tax assets will be "
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"text": "realized."
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"text": "U.S. income taxes have not been recognized on any undistributed earnings that are intended to be permanently reinvested. After"
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"text": "TCJA, any potential U.S. income tax on these amounts is immaterial."
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"text": "Net Operating Losses"
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"text": "For tax return purposes, as of December 31, 2019, the Company had net operating loss (NOL) carryforwards in the United States, "
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"text": "Brazil, Canada, the Republic of Ireland and the United Kingdom. The amount and timing of realizing the benefits of NOL "
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"text": "carryforwards depend on future taxable income and limitations imposed by tax laws. Only the benefits of the United Kingdom "
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"text": "NOL carryforwards have been recognized in the consolidated financial statements and are included in net deferred tax assets. The "
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"text": "NOL amounts by jurisdiction and year of expiration are as follows:"
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"label": "section_header",
"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "12. INCOME TAXES (Continued)"
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"text": "regulations issued by the U.S. Treasury. These minor adjustments were consistent with final regulations issued by the U.S. Treasury in January 2019. The Company also made minor adjustments to the provisional amount for taxes related to partnership investments based upon the latest available information associated with those investments (Form K-1s) that were received in 2018 and 2019."
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"text": "Deferred Tax Asset (Liability)"
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"text": "The net deferred tax asset (liability) comprises the tax effects of temporary differences related to the following assets and liabilities:"
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"text": "If the Company determines that any of its deferred tax assets will not result in future tax benefits, a valuation allowance must be established for the portion of these assets that are not expected to be realized. The net change in the valuation allowance for deferred tax assets was an increase of $19 million in 2019, $16 million relating to the Company's Republic of Ireland subsidiary, $2 million relating to the Company's consolidated Brazilian subsidiary and $1 million relating to the Company's Canadian subsidiary. Based upon a review of the Company's anticipated future taxable income, and also including all other available evidence, both positive and negative, the Company's management concluded that it is more likely than not that the net deferred tax assets will be realized."
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"text": "U.S. income taxes have not been recognized on any undistributed earnings that are intended to be permanently reinvested. After TCJA, any potential U.S. income tax on these amounts is immaterial."
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"text": "Net Operating Losses"
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"text": "For tax return purposes, as of December 31, 2019, the Company had net operating loss (NOL) carryforwards in the United States, Brazil, Canada, the Republic of Ireland and the United Kingdom. The amount and timing of realizing the benefits of NOL carryforwards depend on future taxable income and limitations imposed by tax laws. Only the benefits of the United Kingdom NOL carryforwards have been recognized in the consolidated financial statements and are included in net deferred tax assets. The NOL amounts by jurisdiction and year of expiration are as follows:"
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"filename": "NYSE_TRV_2019.pdf",
"page": 209
} |
e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-210 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 12. INCOME TAXES (Continued) Uncertain Tax Positions The following is a reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2019 and 2018: Included in the balances at December 31, 2019 and 2018 were $34 million and $29 million, respectively, of unrecognized tax benefits that, if recognized, would affect the annual effective tax rate. Also included in the balances at those dates were $3 million and $2 million, respectively, of tax positions for which the ultimate deductibility is certain, but for which there is uncertainty about the timing of deductibility. The timing of such deductibility could affect the annual effective tax rate depending on the year of deduction and tax rate at the time. The Company recognizes accrued interest and penalties, if any, related to unrecognized tax benefits in income taxes. During the years ended December 31, 2019, 2018 and 2017, the Company recognized approximately $(1) million, $(10) million and $(33) million in interest, respectively. The Company had approximately $13 million and $14 million accrued for the payment of interest at December 31, 2019 and 2018, respectively. The IRS is conducting an examination of the Company's U.S. income tax returns for 2017 and 2018. The Company does not expect any significant changes to its liability for unrecognized tax benefits during the next twelve months. 13. SHARE-BASED INCENTIVE COMPENSATION The Company has a share-based incentive compensation plan, The Travelers Companies, Inc. Amended and Restated 2014 Stock Incentive Plan (the 2014 Incentive Plan), the purposes of which are to align the interests of the Company's non-employee directors, executive officers and other employees with those of the Company's shareholders and to attract and retain personnel by providing incentives in the form of share-based awards. The 2014 Incentive Plan permits grants of nonqualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units, deferred stock, deferred stock units, performance awards and other share-based or share-denominated awards with respect to the Company's common stock. The Company has a policy of issuing new shares to settle the exercise of stock option awards and the vesting of other equity awards. In connection with the adoption of the 2014 Incentive Plan, The Travelers Companies, Inc. Amended and Restated 2004 Stock Incentive Plan, as amended (the 2004 Incentive Plan) was terminated, joining several other legacy share-based incentive compensation plans that had been terminated in prior years (together, the legacy plans). Outstanding grants were not affected by the termination of the legacy plans. The 2014 Incentive Plan is currently the only plan pursuant to which future stock-based awards may be granted. 191 | [
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"text": "INCOME TAXES (Continued)"
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"text": "expiration"
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"text": "United States.................................................................................................................."
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"text": "Canada ........................................................................................................................."
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"text": "Republic of Ireland............................................................................................................"
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"text": "United Kingdom ................................................................................................................."
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"text": "Uncertain Tax Positions"
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"text": "The following is a reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, "
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"text": "2019 and 2018:"
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"text": "(in millions) "
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"text": "Balance at January 1..........................................................................................................."
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"text": "$ 31 "
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"text": "Additions for tax positions of prior years.................................................................................. "
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"text": "Reductions for tax positions of prior years................................................................................ "
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"text": "— "
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"text": "Reductions based on tax positions related to current year ........................................................ "
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"text": "Expiration of statute of limitations..........................................................................................."
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"text": "Balance at December 31 ......................................................................................................... "
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"text": "$ 37 "
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"text": "$ 31"
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"text": "Included in the balances at December 31, 2019 and 2018 were $34 million and $29 million, respectively, of unrecognized tax "
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"text": "benefits that, if recognized, would affect the annual effective tax rate. Also included in the balances at those dates were $3 million"
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"text": "and $2 million, respectively, of tax positions for which the ultimate deductibility is certain, but for which there is uncertainty about "
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"text": "the timing of deductibility. The timing of such deductibility could affect the annual effective tax rate depending on the year of "
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"text": "deduction and tax rate at the time."
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"text": "The Company recognizes accrued interest and penalties, if any, related to unrecognized tax benefits in income taxes. During the "
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"text": "years ended December 31, 2019, 2018 and 2017, the Company recognized approximately $(1) million, $(10) million and $(33) "
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"text": "million in interest, respectively. The Company had approximately $13 million and $14 million accrued for the payment of interest "
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"text": "at December 31, 2019 and 2018, respectively."
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"text": "The IRS is conducting an examination of the Company’s U.S. income tax returns for 2017 and 2018. The Company does not "
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"text": "expect any significant changes to its liability for unrecognized tax benefits during the next twelve months."
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"text": "SHARE-BASED INCENTIVE COMPENSATION"
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"text": "The Company has a share-based incentive compensation plan, The Travelers Companies, Inc. Amended and Restated 2014 Stock "
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"text": "Incentive Plan (the 2014 Incentive Plan), the purposes of which are to align the interests of the Company’s non-employee directors, "
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"text": "executive officers and other employees with those of the Company’s shareholders and to attract and retain personnel by providing "
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"text": "incentives in the form of share-based awards. The 2014 Incentive Plan permits grants of nonqualified stock options, incentive "
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"text": "In connection with the adoption of the 2014 Incentive Plan, The Travelers Companies, Inc. Amended and Restated 2004 Stock "
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "12. INCOME TAXES (Continued)"
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"text": "Uncertain Tax Positions"
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"text": "The following is a reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2019 and 2018:"
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"text": "Included in the balances at December 31, 2019 and 2018 were $34 million and $29 million, respectively, of unrecognized tax benefits that, if recognized, would affect the annual effective tax rate. Also included in the balances at those dates were $3 million and $2 million, respectively, of tax positions for which the ultimate deductibility is certain, but for which there is uncertainty about the timing of deductibility. The timing of such deductibility could affect the annual effective tax rate depending on the year of deduction and tax rate at the time."
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"text": "The Company recognizes accrued interest and penalties, if any, related to unrecognized tax benefits in income taxes. During the years ended December 31, 2019, 2018 and 2017, the Company recognized approximately $(1) million, $(10) million and $(33) million in interest, respectively. The Company had approximately $13 million and $14 million accrued for the payment of interest at December 31, 2019 and 2018, respectively."
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"text": "The IRS is conducting an examination of the Company's U.S. income tax returns for 2017 and 2018. The Company does not expect any significant changes to its liability for unrecognized tax benefits during the next twelve months."
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"text": "13. SHARE-BASED INCENTIVE COMPENSATION"
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"text": "The Company has a share-based incentive compensation plan, The Travelers Companies, Inc. Amended and Restated 2014 Stock Incentive Plan (the 2014 Incentive Plan), the purposes of which are to align the interests of the Company's non-employee directors, executive officers and other employees with those of the Company's shareholders and to attract and retain personnel by providing incentives in the form of share-based awards. The 2014 Incentive Plan permits grants of nonqualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units, deferred stock, deferred stock units, performance awards and other share-based or share-denominated awards with respect to the Company's common stock. The Company has a policy of issuing new shares to settle the exercise of stock option awards and the vesting of other equity awards."
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"text": "In connection with the adoption of the 2014 Incentive Plan, The Travelers Companies, Inc. Amended and Restated 2004 Stock Incentive Plan, as amended (the 2004 Incentive Plan) was terminated, joining several other legacy share-based incentive compensation plans that had been terminated in prior years (together, the legacy plans). Outstanding grants were not affected by the termination of the legacy plans. The 2014 Incentive Plan is currently the only plan pursuant to which future stock-based awards may be granted."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-211 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 13. SHARE-BASED INCENTIVE COMPENSATION (Continued) The number of shares of the Company's common stock initially authorized for grant under the 2014 Incentive Plan was 10 million shares. In May 2019, 2017 and 2016, the Company's shareholders authorized an additional 3.1 million, 2.5 million and 4.4 million shares of the Company's common stock, respectively, for grant under the 2014 Incentive Plan. The following are not counted towards the combined 20.0 million shares available and will be available for future grants under the 2014 Incentive Plan: (i) shares of common stock subject to awards that expire unexercised, that are forfeited, terminated or canceled, that are settled in cash or other forms of property, or otherwise do not result in the issuance of shares of common stock, in whole or in part; (ii) shares that are used to pay the exercise price of stock options and shares used to pay withholding taxes on awards generally; and (iii) shares purchased by the Company on the open market using cash option exercise proceeds; provided, however, that the increase in the number of shares of common stock available for grant pursuant to such market purchases shall not be greater than the number that could be repurchased at fair market value on the date of exercise of the stock option giving rise to such option proceeds. In addition, the 20.0 million shares authorized by shareholders for issuance under the 2014 Incentive Plan will be increased by any shares subject to awards under the 2004 Incentive Plan that were outstanding as of May 27, 2014 and subsequently expire, are forfeited , canceled, settled in cash or otherwise terminate without the issuance of shares. The Company also has a compensation program for non-employee directors (the Director Compensation Program). Under the Director Compensation Program, non-employee directors' compensation consists of an annual retainer, a deferred stock award, committee chair fees and a lead director fee. Each non-employee director may choose to receive all or a portion of his or her annual retainer, committee chair fee and lead director fee in the form of cash or deferred stock units which vest upon grant. The annual deferred stock awards vest in full one day prior to the date of the Company's annual meeting of shareholders occurring in the year following the year of the grant date, subject to continued service. The deferred stock awards, including dividend equivalents, accumulate until distribution either in a lump sum six months after termination of service as a director or, if the director so elects, in annual installments beginning at least six months following termination of service as a director. The deferred stock units issued under the Director Compensation Program are awarded under the 2014 Incentive Plan. Stock Option Awards Stock option awards granted to eligible officers and key employees have a ten-year term. All stock options are granted with an exercise price equal to the closing price of the Company's common stock on the date of grant. The stock options granted generally vest upon meeting certain years of service criteria. Except as the Compensation Committee of the Board of Directors may allow in the future, stock options cannot be sold or transferred by the participant. Stock options outstanding under the 2014 Incentive Plan and the 2004 Incentive Plan generally vest three years after grant date (cliff vest). The fair value of each option award is estimated on the date of grant by application of a variation of the Black-Scholes option pricing model using the assumptions noted in the following table. The expected term of newly granted stock options is the time to vest plus half the remaining time to expiration. This considers the vesting restriction and represents an even pattern of exercise behavior over the remaining term. The expected volatility assumption is based on the historical volatility of the Company's common stock for the same period as the estimated option term generally using the volatility of the week prior to the stock option grant. The expected dividend is based upon the Company's current quarter dividend annualized and assumed to be constant over the expected option term. The risk-free interest rate for each option is the interpolated market yield of a U.S. Treasury bill with a term comparable to the expected option term for the same week used for measuring volatility. The following table provides information about options granted: 192 | [
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"text": "to vest plus half the remaining time to expiration. This considers the vesting restriction and represents an even pattern of exercise "
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"text": "behavior over the remaining term. The expected volatility assumption is based on the historical volatility of the Company’s common "
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"text": "stock for the same period as the estimated option term generally using the volatility of the week prior to the stock option grant. "
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"text": "The expected dividend is based upon the Company’s current quarter dividend annualized and assumed to be constant over the "
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"text": "expected option term. The risk-free interest rate for each option is the interpolated market yield of a U.S. Treasury bill with a term "
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"text": "comparable to the expected option term for the same week used for measuring volatility. The following table provides information "
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "13. SHARE-BASED INCENTIVE COMPENSATION (Continued)"
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"text": "The number of shares of the Company's common stock initially authorized for grant under the 2014 Incentive Plan was 10 million shares. In May 2019, 2017 and 2016, the Company's shareholders authorized an additional 3.1 million, 2.5 million and 4.4 million shares of the Company's common stock, respectively, for grant under the 2014 Incentive Plan. The following are not counted towards the combined 20.0 million shares available and will be available for future grants under the 2014 Incentive Plan: (i) shares of common stock subject to awards that expire unexercised, that are forfeited, terminated or canceled, that are settled in cash or other forms of property, or otherwise do not result in the issuance of shares of common stock, in whole or in part; (ii) shares that are used to pay the exercise price of stock options and shares used to pay withholding taxes on awards generally; and (iii) shares purchased by the Company on the open market using cash option exercise proceeds; provided, however, that the increase in the number of shares of common stock available for grant pursuant to such market purchases shall not be greater than the number that could be repurchased at fair market value on the date of exercise of the stock option giving rise to such option proceeds. In addition, the 20.0 million shares authorized by shareholders for issuance under the 2014 Incentive Plan will be increased by any shares subject to awards under the 2004 Incentive Plan that were outstanding as of May 27, 2014 and subsequently expire, are forfeited , canceled, settled in cash or otherwise terminate without the issuance of shares."
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"text": "The Company also has a compensation program for non-employee directors (the Director Compensation Program). Under the Director Compensation Program, non-employee directors' compensation consists of an annual retainer, a deferred stock award, committee chair fees and a lead director fee. Each non-employee director may choose to receive all or a portion of his or her annual retainer, committee chair fee and lead director fee in the form of cash or deferred stock units which vest upon grant. The annual deferred stock awards vest in full one day prior to the date of the Company's annual meeting of shareholders occurring in the year following the year of the grant date, subject to continued service. The deferred stock awards, including dividend equivalents, accumulate until distribution either in a lump sum six months after termination of service as a director or, if the director so elects, in annual installments beginning at least six months following termination of service as a director. The deferred stock units issued under the Director Compensation Program are awarded under the 2014 Incentive Plan."
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"text": "Stock Option Awards"
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"text": "Stock option awards granted to eligible officers and key employees have a ten-year term. All stock options are granted with an exercise price equal to the closing price of the Company's common stock on the date of grant. The stock options granted generally vest upon meeting certain years of service criteria. Except as the Compensation Committee of the Board of Directors may allow in the future, stock options cannot be sold or transferred by the participant. Stock options outstanding under the 2014 Incentive Plan and the 2004 Incentive Plan generally vest three years after grant date (cliff vest)."
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"text": "The fair value of each option award is estimated on the date of grant by application of a variation of the Black-Scholes option pricing model using the assumptions noted in the following table. The expected term of newly granted stock options is the time to vest plus half the remaining time to expiration. This considers the vesting restriction and represents an even pattern of exercise behavior over the remaining term. The expected volatility assumption is based on the historical volatility of the Company's common stock for the same period as the estimated option term generally using the volatility of the week prior to the stock option grant. The expected dividend is based upon the Company's current quarter dividend annualized and assumed to be constant over the expected option term. The risk-free interest rate for each option is the interpolated market yield of a U.S. Treasury bill with a term comparable to the expected option term for the same week used for measuring volatility. The following table provides information about options granted:"
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"filename": "NYSE_TRV_2019.pdf",
"page": 211
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-212 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 13. SHARE-BASED INCENTIVE COMPENSATION (Continued) A summary of stock option activity under the 2014 Incentive Plan and the legacy plans as of and for the year ended December 31, 2019 is as follows: ___________________________________________ (1) Represents awards for which the requisite service has been rendered, including those that are retirement eligible. On February 4, 2020, the Company, under the 2014 Incentive Plan, granted 2,474,036 stock option awards with an exercise price of $132.58 per share. The fair value attributable to the stock option awards on the date of grant was $14.41 per share. Restricted Stock Units, Deferred Stock Units and Performance Share Award Programs The Company issues restricted stock unit awards to eligible officers and key employees under the Equity Awards program established pursuant to the 2014 Incentive Plan. A restricted stock unit represents the right to receive a share of common stock. These restricted stock unit awards are granted at market price, generally vest three years from the date of grant, do not have voting rights and the underlying shares of common stock are not issued until the vesting criteria is satisfied. In addition, members of the Company's Board of Directors can be issued deferred stock units from (i) an annual award; (ii) deferred compensation (in lieu of cash retainer, committee chair fees and lead director fees); and (iii) dividend equivalents earned on outstanding deferred compensation. The Company also has a Performance Share Awards Program established pursuant to the 2004 Incentive Plan and which continues pursuant to the 2014 Incentive Plan. Under the program, the Company may issue performance share awards to certain employees of the Company who hold positions of Vice President (or its equivalent) or above. The performance share awards provide the recipient the right to earn shares of the Company's common stock based upon the Company's attainment of certain performance goals and the recipient meeting certain years of service criteria. The performance goals for performance share awards are based on the Company's adjusted return on equity over a three-year performance period. Vesting of performance shares is contingent 193 | [
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"text": "SHARE-BASED INCENTIVE COMPENSATION (Continued)"
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"text": "(for the year ended December 31,) "
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"text": "Assumptions used in estimating fair value of options"
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"text": "on grant date"
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"text": "Expected term of stock options ........................................... "
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"text": "6 years "
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"text": "Expected volatility of Company’s stock.............................. "
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"text": "15.47% - 15.91% "
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"text": "14.94% "
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"text": "Weighted average volatility................................................. "
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"text": "15.48% "
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"text": "14.94% "
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"text": "16.50%"
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"text": "Expected annual dividend per share .................................... "
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"text": "$3.08 - $3.28 "
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"text": "$2.88 "
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"text": "Risk-free rate ....................................................................... "
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"text": "1.70% - 2.54% "
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"text": "2.68% "
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"text": "Additional information"
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"text": "Weighted average grant-date fair value of options granted"
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"text": "(per share)............................................................................ "
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"text": "$ 16.64 "
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"text": "$ 20.13 $ 16.15"
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"text": "Total intrinsic value of options exercised during the year"
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"text": "(in millions) ......................................................................... "
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"text": "88 "
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"text": "67 $ "
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"text": "A summary of stock option activity under the 2014 Incentive Plan and the legacy plans as of and for the year ended December 31,"
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"text": "Stock Options "
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"text": "Weighted"
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"text": "Exercise"
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"text": "Weighted"
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"text": "On February 4, 2020, the Company, under the 2014 Incentive Plan, granted 2,474,036 stock option awards with an exercise price "
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"text": "of $132.58 per share. The fair value attributable to the stock option awards on the date of grant was $14.41 per share."
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"text": "pursuant to the 2014 Incentive Plan. A restricted stock unit represents the right to receive a share of common stock. These restricted "
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"text": "pursuant to the 2014 Incentive Plan. Under the program, the Company may issue performance share awards to certain employees "
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"text": "A summary of stock option activity under the 2014 Incentive Plan and the legacy plans as of and for the year ended December 31, 2019 is as follows:"
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"text": "On February 4, 2020, the Company, under the 2014 Incentive Plan, granted 2,474,036 stock option awards with an exercise price of $132.58 per share. The fair value attributable to the stock option awards on the date of grant was $14.41 per share."
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"text": "The Company issues restricted stock unit awards to eligible officers and key employees under the Equity Awards program established pursuant to the 2014 Incentive Plan. A restricted stock unit represents the right to receive a share of common stock. These restricted stock unit awards are granted at market price, generally vest three years from the date of grant, do not have voting rights and the underlying shares of common stock are not issued until the vesting criteria is satisfied. In addition, members of the Company's Board of Directors can be issued deferred stock units from (i) an annual award; (ii) deferred compensation (in lieu of cash retainer, committee chair fees and lead director fees); and (iii) dividend equivalents earned on outstanding deferred compensation."
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"text": "The Company also has a Performance Share Awards Program established pursuant to the 2004 Incentive Plan and which continues pursuant to the 2014 Incentive Plan. Under the program, the Company may issue performance share awards to certain employees of the Company who hold positions of Vice President (or its equivalent) or above. The performance share awards provide the recipient the right to earn shares of the Company's common stock based upon the Company's attainment of certain performance goals and the recipient meeting certain years of service criteria. The performance goals for performance share awards are based on the Company's adjusted return on equity over a three-year performance period. Vesting of performance shares is contingent"
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-213 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 13. SHARE-BASED INCENTIVE COMPENSATION (Continued) upon the Company attaining the relevant performance period minimum threshold return on equity and the recipient meeting certain years of service criteria, generally three years for full vesting, subject to proration for certain termination conditions. If the performance period return on equity is below the minimum threshold, none of the performance shares will vest. If performance meets or exceeds the minimum performance threshold, a range of performance shares will vest (50% to 150% for awards granted in 2018, 2019 and 2020), depending on the actual return on equity attained. The fair value of restricted stock units, deferred stock units and performance shares is measured at the market price of the Company stock at date of grant. Under terms of the 2014 Incentive Plan, holders of deferred stock units and performance shares may receive dividend equivalents. The total fair value of shares that vested during the years ended December 31, 2019, 2018 and 2017 was $130 million, $135 million and $166 million, respectively. A summary of restricted stock units, deferred stock units and performance share activity under the 2014 Incentive Plan and the legacy plans as of and for the year ended December 31, 2019 is as follows: ___________________________________________ (1) Represents awards for which the requisite service has been rendered. (2) Reflects the number of performance shares attributable to the performance goals attained over the completed performance period (three years) and for which service conditions have been met. (3) Represents the current year change in estimated performance shares to reflect the attainment of performance goals for the awards that were granted in each of the years 2017 through 2019. (4) 95,953 shares of restricted common stock were also issued outside of the 2014 Incentive Plan in 2017 in connection with the acquisition of Simply Business, of which 41,997 shares remain unvested and are not included in this table. See note 9. In addition to the nonvested shares presented in the above table, there are related nonvested dividend equivalent shares. The number of nonvested dividend equivalent shares related to deferred stock units was 329 at the beginning of the year and 285 at the end of the year and the number of nonvested dividend equivalent shares related to performance shares was 24,876 at the beginning of the year and 22,359 at the end of the year. The dividend equivalent shares are subject to the same vesting terms as the deferred stock units and performance shares. On February 4, 2020, the Company, under the 2014 Incentive Plan, granted 911,291 common stock awards in the form of restricted stock units, deferred stock units and performance share awards to participating officers, non-employee directors and other key employees. The restricted stock units and deferred stock units totaled 540,881 shares while the performance share awards totaled 370,410 shares. The fair value per share attributable to the common stock awards on the date of grant was $132.58. 194 | [
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"text": "Nonvested, end of year ........................................ "
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"text": "$ 128.59 668,747 $ 132.76"
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"text": "___________________________________________"
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"text": "(1) Represents awards for which the requisite service has been rendered."
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"text": "(2) Reflects the number of performance shares attributable to the performance goals attained over the completed performance period (three "
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"text": "years) and for which service conditions have been met."
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"text": "(3) Represents the current year change in estimated performance shares to reflect the attainment of performance goals for the awards that "
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"text": "were granted in each of the years 2017 through 2019."
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"text": "(4) 95,953 shares of restricted common stock were also issued outside of the 2014 Incentive Plan in 2017 in connection with the acquisition "
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"text": "of Simply Business, of which 41,997 shares remain unvested and are not included in this table. See note 9. "
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"text": "In addition to the nonvested shares presented in the above table, there are related nonvested dividend equivalent shares. The "
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"text": "number of nonvested dividend equivalent shares related to deferred stock units was 329 at the beginning of the year and 285 at "
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"text": "the end of the year and the number of nonvested dividend equivalent shares related to performance shares was 24,876 at the "
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"text": "beginning of the year and 22,359 at the end of the year. The dividend equivalent shares are subject to the same vesting terms as "
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"text": "the deferred stock units and performance shares."
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"text": "On February 4, 2020, the Company, under the 2014 Incentive Plan, granted 911,291 common stock awards in the form of restricted "
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"text": "stock units, deferred stock units and performance share awards to participating officers, non-employee directors and other key "
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"text": "employees. The restricted stock units and deferred stock units totaled 540,881 shares while the performance share awards totaled "
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"text": "370,410 shares. The fair value per share attributable to the common stock awards on the date of grant was $132.58."
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "13. SHARE-BASED INCENTIVE COMPENSATION (Continued)"
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"text": "upon the Company attaining the relevant performance period minimum threshold return on equity and the recipient meeting certain years of service criteria, generally three years for full vesting, subject to proration for certain termination conditions. If the performance period return on equity is below the minimum threshold, none of the performance shares will vest. If performance meets or exceeds the minimum performance threshold, a range of performance shares will vest (50% to 150% for awards granted in 2018, 2019 and 2020), depending on the actual return on equity attained."
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"text": "The fair value of restricted stock units, deferred stock units and performance shares is measured at the market price of the Company stock at date of grant. Under terms of the 2014 Incentive Plan, holders of deferred stock units and performance shares may receive dividend equivalents."
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"text": "The total fair value of shares that vested during the years ended December 31, 2019, 2018 and 2017 was $130 million, $135 million and $166 million, respectively."
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"text": "A summary of restricted stock units, deferred stock units and performance share activity under the 2014 Incentive Plan and the legacy plans as of and for the year ended December 31, 2019 is as follows:"
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"text": "(4) 95,953 shares of restricted common stock were also issued outside of the 2014 Incentive Plan in 2017 in connection with the acquisition of Simply Business, of which 41,997 shares remain unvested and are not included in this table. See note 9."
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"text": "In addition to the nonvested shares presented in the above table, there are related nonvested dividend equivalent shares. The number of nonvested dividend equivalent shares related to deferred stock units was 329 at the beginning of the year and 285 at the end of the year and the number of nonvested dividend equivalent shares related to performance shares was 24,876 at the beginning of the year and 22,359 at the end of the year. The dividend equivalent shares are subject to the same vesting terms as the deferred stock units and performance shares."
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"text": "On February 4, 2020, the Company, under the 2014 Incentive Plan, granted 911,291 common stock awards in the form of restricted stock units, deferred stock units and performance share awards to participating officers, non-employee directors and other key employees. The restricted stock units and deferred stock units totaled 540,881 shares while the performance share awards totaled 370,410 shares. The fair value per share attributable to the common stock awards on the date of grant was $132.58."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-214 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 13. SHARE-BASED INCENTIVE COMPENSATION (Continued) Share-Based Compensation Cost Recognition The amount of compensation cost for awards subject to a service condition is based on the number of shares expected to be issued and is recognized over the time period for which service is to be provided (requisite service period). Awards granted to retireeeligible employees or to employees who become retiree-eligible before an award's vesting date are considered to have met the requisite service condition. The compensation cost for awards subject to a performance condition is based upon the probable outcome of the performance condition, which on the grant date reflects an estimate of attaining 100% of the performance shares granted. The compensation cost reflects an estimated annual forfeiture rate from 3.5% to 4.5% over the requisite service period of the awards. That estimate is revised if subsequent information indicates that the actual number of instruments expected to vest is likely to differ from previous estimates. Compensation costs for awards are recognized on a straight-line basis over the requisite service period. For awards that have graded vesting terms, the compensation cost is recognized on a straight-line basis over the requisite service period for each separate vesting portion of the award as if the award was, in substance, multiple awards. The total compensation cost for all share-based incentive compensation awards recognized in earnings for the years ended December 31, 2019, 2018 and 2017 was $142 million, $140 million and $136 million, respectively. Included in these amounts are compensation cost adjustments of $2 million, $3 million and $3 million, for the years ended December 31, 2019, 2018 and 2017, respectively, that reflected the cost associated with the updated estimate of performance shares due to attaining certain performance levels from the date of the initial grant of the performance awards. The related tax benefits recognized in earnings were $26 million, $26 million and $45 million for the years ended December 31, 2019, 2018 and 2017, respectively. At December 31, 2019, there was $136 million of total unrecognized compensation cost related to all nonvested share-based incentive compensation awards. This includes stock options, restricted and deferred stock units and performance shares granted under the 2014 Incentive Plan and restricted common stock issued in connection with a 2017 business acquisition. The unrecognized compensation cost is expected to be recognized over a weighted-average period of 1.7 years. Cash received from the exercise of employee stock options under share-based compensation plans totaled $213 million , $132 million and $173 million in 2019, 2018 and 2017, respectively. The tax benefit for tax deductions from employee stock options exercised during 2019, 2018 and 2017 totaled $18 million, $14 million and $31 million, respectively. 14. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS The Company sponsors a qualified non-contributory defined benefit pension plan (the qualified domestic pension plan), which covers substantially all U.S. domestic employees and provides benefits under a cash balance formula, except that certain limited groups of legacy participants are covered by a prior traditional final average pay formula. In addition, the Company sponsors a nonqualified defined benefit pension plan which covers certain highly-compensated employees, pension plans for employees of its foreign subsidiaries, and a postretirement health and life insurance benefit plan for employees satisfying certain age and service requirements and for certain retirees. 195 | [
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"text": "service period. For awards that have graded vesting terms, the compensation cost is recognized on a straight-line basis over the "
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"text": "requisite service period for each separate vesting portion of the award as if the award was, in substance, multiple awards. The total "
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"text": "The amount of compensation cost for awards subject to a service condition is based on the number of shares expected to be issued and is recognized over the time period for which service is to be provided (requisite service period). Awards granted to retireeeligible employees or to employees who become retiree-eligible before an award's vesting date are considered to have met the requisite service condition. The compensation cost for awards subject to a performance condition is based upon the probable outcome of the performance condition, which on the grant date reflects an estimate of attaining 100% of the performance shares granted. The compensation cost reflects an estimated annual forfeiture rate from 3.5% to 4.5% over the requisite service period of the awards. That estimate is revised if subsequent information indicates that the actual number of instruments expected to vest is likely to differ from previous estimates. Compensation costs for awards are recognized on a straight-line basis over the requisite service period. For awards that have graded vesting terms, the compensation cost is recognized on a straight-line basis over the requisite service period for each separate vesting portion of the award as if the award was, in substance, multiple awards. The total compensation cost for all share-based incentive compensation awards recognized in earnings for the years ended December 31, 2019, 2018 and 2017 was $142 million, $140 million and $136 million, respectively. Included in these amounts are compensation cost adjustments of $2 million, $3 million and $3 million, for the years ended December 31, 2019, 2018 and 2017, respectively, that reflected the cost associated with the updated estimate of performance shares due to attaining certain performance levels from the date of the initial grant of the performance awards. The related tax benefits recognized in earnings were $26 million, $26 million and $45 million for the years ended December 31, 2019, 2018 and 2017, respectively."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-215 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 14. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued) Obligations and Funded Status The following tables summarize the funded status, obligations and amounts recognized in the consolidated balance sheet for the Company's benefit plans. The Company uses a December 31 measurement date for its pension and postretirement benefit plans. 196 | [
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"text": "year .................................................. "
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"text": "Funded status of plan at end of"
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"text": ".................................................. "
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"text": "$ 316 "
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"text": "$ 327 "
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"text": "(126) $ "
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"text": "(112) $ 190 "
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"text": "$ 215"
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"text": "Amounts recognized in the"
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"text": "consolidated balance sheet"
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"text": "consist of:"
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"text": "Accrued over-funded benefit plan"
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"text": "assets................................................ "
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"text": "$ 316 "
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"text": "$ 327 "
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"text": "Accrued under-funded benefit plan"
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"text": "liabilities .......................................... "
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"text": "— "
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"text": "Total"
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"text": ".................................................. "
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"text": "$ 316 "
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"text": "$ 327 "
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"text": "(126) $ "
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"text": "(112) $ 190 "
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"text": "$ 215"
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"text": "Amounts recognized in"
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"text": "accumulated other"
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"text": "comprehensive income consist of:"
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"text": "Net actuarial loss................................. "
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"text": "$ 1,094 "
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"text": "$ 1,113 "
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"text": "$ 49 "
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"text": "$ 36 "
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"text": "$ 1,149"
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"text": "Prior service cost (benefit) .................. "
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"text": "Total"
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"label": "section_header",
"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"label": "section_header",
"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"label": "section_header",
"text": "14. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued)"
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"text": "Obligations and Funded Status"
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"text": "The following tables summarize the funded status, obligations and amounts recognized in the consolidated balance sheet for the Company's benefit plans. The Company uses a December 31 measurement date for its pension and postretirement benefit plans."
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"html_seq": "<table><tr><td></td><th colspan=\"2\">Qualified Domestic Pension Plan</th><th colspan=\"2\">Nonqualified and Foreign Pension Plans</th><th colspan=\"2\">Total</th></tr><tr><td>(at and for the year ended December 31, in millions)</td><td></td><td></td><td></td><th>2019 2018 2019 2018 2019 2018</th><td></td><td></td></tr><tr><td>Change in projected benefit obligation:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Benefit obligation at beginning of year ..................................................</td><td>$ 3,444</td><td>$ 3,679</td><td>$ 215</td><td>$ 230</td><td>$ 3,659</td><td>$ 3,909</td></tr><tr><td>Benefits earned....................................</td><td>112</td><td>126</td><td>6</td><td>7</td><td>118</td><td>133</td></tr><tr><td>Interest cost on benefit obligation.......</td><td>134</td><td>119</td><td>7</td><td>7</td><td>141</td><td>126</td></tr><tr><td>Actuarial (gain) loss ............................</td><td>451</td><td>(273)</td><td>19</td><td>(11)</td><td>470</td><td>(284)</td></tr><tr><td>Benefits paid .......................................</td><td>(187)</td><td>(207)</td><td>(11)</td><td>(12)</td><td>(198)</td><td>(219)</td></tr><tr><td>Foreign currency exchange rate change..............................................</td><td>-</td><td>-</td><td>5</td><td>(6)</td><td>5</td><td>(6)</td></tr><tr><td>Benefit obligation at end of year ......</td><td>$ 3,954</td><td>$ 3,444</td><td>$ 241</td><td>$ 215</td><td>$ 4,195</td><td>$ 3,659</td></tr><tr><td>Change in plan assets:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Fair value of plan assets at beginning of year..............................................</td><td>$ 3,771</td><td>$ 3,957</td><td>$ 103</td><td>$ 113</td><td>$ 3,874</td><td>$ 4,070</td></tr><tr><td>Actual return on plan assets ................</td><td>686</td><td>(179)</td><td>10</td><td>(1)</td><td>696</td><td>(180)</td></tr><tr><td>Company contributions .......................</td><td>-</td><td>200</td><td>8</td><td>10</td><td>8</td><td>210</td></tr><tr><td>Benefits paid .......................................</td><td>(187)</td><td>(207)</td><td>(11)</td><td>(12)</td><td>(198)</td><td>(219)</td></tr><tr><td>Foreign currency exchange rate change..............................................</td><td>-</td><td>-</td><td>5</td><td>(7)</td><td>5</td><td>(7)</td></tr><tr><td>Fair value of plan assets at end of year ..................................................</td><td>4,270</td><td>3,771</td><td>115</td><td>103</td><td>4,385</td><td>3,874</td></tr><tr><td>Funded status of plan at end of year ..................................................</td><td>$ 316</td><td>$ 327</td><td>$ (126) $</td><td></td><td>(112) $ 190</td><td>$ 215</td></tr><tr><td>Amounts recognized in the consolidated balance sheet consist of:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Accrued over-funded benefit plan assets................................................</td><td>$ 316</td><td>$ 327</td><td>$ 1</td><td>$ 4</td><td>$ 317</td><td>$ 331</td></tr><tr><td>Accrued under-funded benefit plan liabilities ..........................................</td><td>-</td><td>-</td><td>(127)</td><td>(116)</td><td>(127)</td><td>(116)</td></tr><tr><td>Total ..................................................</td><td>$ 316</td><td>$ 327</td><td>$ (126) $</td><td></td><td>(112) $ 190</td><td>$ 215</td></tr><tr><td>Amounts recognized in accumulated other comprehensive income consist of:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net actuarial loss.................................</td><td>$ 1,094</td><td>$ 1,113</td><td>$ 49</td><td>$ 36</td><td>$ 1,143</td><td>$ 1,149</td></tr><tr><td>Prior service cost (benefit) ..................</td><td>(3)</td><td>(5)</td><td>-</td><td>1</td><td>(3)</td><td>(4)</td></tr><tr><td>Total ..................................................</td><td>$ 1,091</td><td>$ 1,108</td><td>$ 49</td><td>$ 37</td><td>$ 1,140</td><td>$ 1,145</td></tr></table>",
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-216 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 14. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued) The total accumulated benefit obligation for the Company's defined benefit pension plans was $4.05 billion and $3.53 billion at December 31, 2019 and 2018, respectively. The qualified domestic pension plan accounted for $3.82 billion and $3.32 billion of the total accumulated benefit obligation at December 31, 2019 and 2018, respectively, whereas the nonqualified and foreign plans accounted for $0.23 billion and $0.21 billion of the total accumulated benefit obligation at December 31, 2019 and 2018, respectively. For pension plans with a projected benefit obligation in excess of plan assets, the aggregate projected benefit obligation was $228 million and $203 million at December 31, 2019 and 2018, respectively, and the aggregate plan assets were $100 million and $87 million at December 31, 2019 and 2018, respectively. For pension plans with an accumulated benefit obligation in excess of plan assets, the aggregate accumulated benefit obligation was $218 million and $195 million at December 31, 2019 and 2018, respectively, and the aggregate plan assets were $100 million and $87 million at December 31, 2019 and 2018, respectively. For postretirement benefit plans with an accumulated benefit obligation in excess of plan assets, the aggregate accumulated benefit obligation was $171 million and $203 million at December 31, 2019 and 2018, respectively, and the aggregate plan assets were $12 million at both December 31, 2019 and 2018. The $451 million actuarial loss experienced in 2019 for the qualified domestic pension plan was largely driven by the decrease in the assumed discount rate from the prior year that was used to determine the projected benefit obligation at December 31, 2019. The $273 million actuarial gain experienced in 2018 for the qualified domestic pension plan was largely driven by the increase in the assumed discount rate from the prior year that was used to determine the projected benefit obligation at December 31, 2018. The Company has discretion regarding whether to provide additional funding and when to provide such funding to its qualified domestic pension plan. In 2019, 2018 and 2017, there were no required contributions to the qualified domestic pension plan. In 2019, the Company made no voluntary contributions to the qualified domestic pension plan. In 2018 and 2017, the Company voluntarily made contributions totaling $200 million and $300 million, respectively, to the qualified domestic pension plan. There 197 | [
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"text": "Foreign currency exchange rate change .................................................................................... "
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"text": "Benefit obligation at end of year............................................................................................. "
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"text": "Fair value of plan assets at beginning of year ........................................................................... "
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"text": "Benefits paid.................................................................................................................."
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"text": "Fair value of plan assets at end of year ................................................................................... "
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"text": "Funded status of plan at end of year "
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"text": "................................................................................... "
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"text": "(159) $ "
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"text": "Amounts recognized in the consolidated balance sheet consist of:"
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"text": "Accrued under-funded benefit plan liability ........................................................................... "
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"text": "Amounts recognized in accumulated other comprehensive income consist of:"
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"text": "Net actuarial gain ............................................................................................................."
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"text": "....... "
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"text": "(49) $ "
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"text": "Prior service benefit .........................................................................................................."
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"text": "...... "
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"text": "..............................................................................................................................."
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"text": "$ "
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"text": "(70) $ "
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"text": "(42)"
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"text": "The total accumulated benefit obligation for the Company’s defined benefit pension plans was $4.05 billion and $3.53 billion at"
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"text": "December 31, 2019 and 2018, respectively. The qualified domestic pension plan accounted for $3.82 billion and $3.32 billion of "
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"text": "the total accumulated benefit obligation at December 31, 2019 and 2018, respectively, whereas the nonqualified and foreign plans "
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"text": "accounted for $0.23 billion and $0.21 billion of the total accumulated benefit obligation at December 31, 2019 and 2018, "
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"text": "respectively."
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"text": "For pension plans with a projected benefit obligation in excess of plan assets, the aggregate projected benefit obligation was $228 "
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"text": "million and $203 million at December 31, 2019 and 2018, respectively, and the aggregate plan assets were $100 million and $87 "
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"text": "million at December 31, 2019 and 2018, respectively. For pension plans with an accumulated benefit obligation in excess of plan "
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"text": "assets, the aggregate accumulated benefit obligation was $218 million and $195 million at December 31, 2019 and 2018, "
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"text": "respectively, and the aggregate plan assets were $100 million and $87 million at December 31, 2019 and 2018, respectively. For "
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"text": "postretirement benefit plans with an accumulated benefit obligation in excess of plan assets, the aggregate accumulated benefit"
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"text": "obligation was $171 million and $203 million at December 31, 2019 and 2018, respectively, and the aggregate plan assets were "
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"text": "$12 million at both December 31, 2019 and 2018."
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"text": "The $451 million actuarial loss experienced in 2019 for the qualified domestic pension plan was largely driven by the decrease in "
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"text": "the assumed discount rate from the prior year that was used to determine the projected benefit obligation at December 31, 2019. "
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"text": "The $273 million actuarial gain experienced in 2018 for the qualified domestic pension plan was largely driven by the increase in "
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"text": "the assumed discount rate from the prior year that was used to determine the projected benefit obligation at December 31, 2018."
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"text": "The Company has discretion regarding whether to provide additional funding and when to provide such funding to its qualified "
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"text": "domestic pension plan. In 2019, 2018 and 2017, there were no required contributions to the qualified domestic pension plan. In "
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"text": "2019, the Company made no voluntary contributions to the qualified domestic pension plan. In 2018 and 2017, the Company "
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"text": "voluntarily made contributions totaling $200 million and $300 million, respectively, to the qualified domestic pension plan. There "
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "14. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued)"
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"text": "The total accumulated benefit obligation for the Company's defined benefit pension plans was $4.05 billion and $3.53 billion at December 31, 2019 and 2018, respectively. The qualified domestic pension plan accounted for $3.82 billion and $3.32 billion of the total accumulated benefit obligation at December 31, 2019 and 2018, respectively, whereas the nonqualified and foreign plans accounted for $0.23 billion and $0.21 billion of the total accumulated benefit obligation at December 31, 2019 and 2018, respectively."
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"text": "For pension plans with a projected benefit obligation in excess of plan assets, the aggregate projected benefit obligation was $228 million and $203 million at December 31, 2019 and 2018, respectively, and the aggregate plan assets were $100 million and $87 million at December 31, 2019 and 2018, respectively. For pension plans with an accumulated benefit obligation in excess of plan assets, the aggregate accumulated benefit obligation was $218 million and $195 million at December 31, 2019 and 2018, respectively, and the aggregate plan assets were $100 million and $87 million at December 31, 2019 and 2018, respectively. For postretirement benefit plans with an accumulated benefit obligation in excess of plan assets, the aggregate accumulated benefit obligation was $171 million and $203 million at December 31, 2019 and 2018, respectively, and the aggregate plan assets were $12 million at both December 31, 2019 and 2018."
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"text": "The $451 million actuarial loss experienced in 2019 for the qualified domestic pension plan was largely driven by the decrease in the assumed discount rate from the prior year that was used to determine the projected benefit obligation at December 31, 2019. The $273 million actuarial gain experienced in 2018 for the qualified domestic pension plan was largely driven by the increase in the assumed discount rate from the prior year that was used to determine the projected benefit obligation at December 31, 2018."
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"text": "The Company has discretion regarding whether to provide additional funding and when to provide such funding to its qualified domestic pension plan. In 2019, 2018 and 2017, there were no required contributions to the qualified domestic pension plan. In 2019, the Company made no voluntary contributions to the qualified domestic pension plan. In 2018 and 2017, the Company voluntarily made contributions totaling $200 million and $300 million, respectively, to the qualified domestic pension plan. There"
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-217 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 14. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued) is no required contribution to the qualified domestic pension plan during 2020, and the Company has not determined whether or not additional funding will be made during 2020. With respect to the Company's foreign pension plans, there are no significant required contributions in 2020. The following table summarizes the components of net periodic benefit cost and other amounts recognized in other comprehensive income related to the benefit plans. The following table indicates the line items in which the respective service costs and non-service cost (benefit) are presented in the consolidated statement of income for the years ended December 31, 2019, 2018 and 2017. 198 | [
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"text": "PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued)"
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"text": "is no required contribution to the qualified domestic pension plan during 2020, and the Company has not determined whether or "
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"text": "not additional funding will be made during 2020. With respect to the Company’s foreign pension plans, there are no significant "
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"text": "required contributions in 2020."
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"text": "The following table summarizes the components of net periodic benefit cost and other amounts recognized in other comprehensive "
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"text": "income related to the benefit plans."
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"text": "Pension Plans"
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"text": "Postretirement Benefit"
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"text": "Plans"
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"text": "(for the year ended December 31, in millions) "
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"text": "2019 2018 2017 2019 2018 2017"
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"text": "Net Periodic Benefit Cost:"
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"text": "Service cost ..................................................... "
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"text": "$ 118 "
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"text": "$ 133 $ 119 "
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"text": "$ — "
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"text": "(275) "
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"text": "— —"
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"text": "Settlement...................................................... "
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"text": "Amortization of unrecognized:"
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"text": "Prior service benefit .................................... "
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"text": "(4)"
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"text": "Net actuarial loss......................................... "
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"text": "56 "
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"text": "91 85 — — —"
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"text": "Total non-service cost (benefit) ............... "
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"text": "(79) "
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"text": "Net periodic benefit cost .......................... "
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"text": "85 93 "
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"text": "Benefit Obligations Recognized in Other"
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"text": "Prior service benefit ........................................ "
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"text": "Net actuarial loss (gain) .................................. "
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"text": "49 "
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"text": "Settlement........................................................ "
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"text": "Amortization of prior service benefit.............. "
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"text": "Amortization of net actuarial loss ................... "
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"text": "Total other changes recognized in"
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"text": "other comprehensive income "
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"text": "............. "
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"text": "$ 154 $ 49 "
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "14. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued)"
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"text": "is no required contribution to the qualified domestic pension plan during 2020, and the Company has not determined whether or not additional funding will be made during 2020. With respect to the Company's foreign pension plans, there are no significant required contributions in 2020."
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"text": "The following table summarizes the components of net periodic benefit cost and other amounts recognized in other comprehensive income related to the benefit plans."
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"text": "The following table indicates the line items in which the respective service costs and non-service cost (benefit) are presented in the consolidated statement of income for the years ended December 31, 2019, 2018 and 2017."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-218 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 14. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued) Assumptions The following table summarizes assumptions used with regard to the Company's qualified and nonqualified domestic pension plans and the domestic postretirement benefit plans. 199 | [
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"text": "(for the year ended December 31, in millions) "
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"text": "Service Cost:"
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"text": "Net investment income ................................... "
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"text": "$ 1 "
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"text": "$ 1$ — "
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"text": "$ —$ —"
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"text": "Claims and claim adjustment expenses .......... "
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"text": "48 "
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"text": "General and administrative expenses.............. "
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"text": "Total service cost.......................................... "
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"text": "Non-Service Cost (Benefit):"
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"text": "Claims and claim adjustment expenses .......... "
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"text": "(33) "
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"text": "General and administrative expenses.............. "
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"text": "Total non-service cost (benefit).................... "
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"text": "Net periodic benefit cost .............................. "
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"text": "$ 39 "
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"text": "$ 85 $ 93 "
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"text": "$ 3 "
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"text": "$ 3$ 3"
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"text": "Assumptions "
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"text": "The following table summarizes assumptions used with regard to the Company’s qualified and nonqualified domestic pension "
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"text": "plans and the domestic postretirement benefit plans."
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"html_seq": "<table><tr><td></td><th colspan=\"3\">Pension Plans</th><th colspan=\"2\">Postretirement Benefit Plans</th></tr><tr><td>(for the year ended December 31, in millions)</td><td></td><td></td><th>2019 2018 2017 2019 2018 2017</th><td></td></tr><tr><td>Service Cost:</td><td></td><td></td><td></td><td></td></tr><tr><td>Net investment income ...................................</td><td>$ 1</td><td>$ 1$ -</td><td>$ -</td><td>$ -$ -</td></tr><tr><td>Claims and claim adjustment expenses ..........</td><td>48</td><td>54 48</td><td>-</td><td>- -</td></tr><tr><td>General and administrative expenses..............</td><td>69</td><td>78 71</td><td>-</td><td>- -</td></tr><tr><td>Total service cost..........................................</td><td>118</td><td>133 119</td><td>-</td><td>- -</td></tr><tr><td>Non-Service Cost (Benefit):</td><td></td><td></td><td></td><td></td></tr><tr><td>Claims and claim adjustment expenses ..........</td><td>(33)</td><td>(19) (11)</td><td>1</td><td>1 1</td></tr><tr><td>General and administrative expenses..............</td><td>(46)</td><td>(29) (15)</td><td>2</td><td>2 2</td></tr><tr><td>Total non-service cost (benefit)....................</td><td>(79)</td><td>(48) (26)</td><td>3</td><td>3 3</td></tr><tr><td>Net periodic benefit cost ..............................</td><td>$ 39</td><td>$ 85 $ 93</td><td>$ 3</td><td>$ 3$ 3</td></tr></table>",
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"label": "section_header",
"text": "Assumptions"
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"text": "The following table summarizes assumptions used with regard to the Company's qualified and nonqualified domestic pension plans and the domestic postretirement benefit plans."
},
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"label": "page_footer",
"text": "199"
}
] | {
"filename": "NYSE_TRV_2019.pdf",
"page": 218
} |
e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-219 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 14. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued) The discount rate assumption used to determine the benefit obligation is based on a yield-curve approach. Under this approach, individual spot rates from the yield curve of a hypothetical portfolio of high quality fixed maturity corporate bonds (rated Aa) available at the year-end valuation date, for which the timing and amount of cash outflows correspond with the timing and amount of the estimated benefit payouts of the Company's benefit plan, are applied to expected future benefits payments in measuring ththe projected benefit obligation. The discount rate assumption used to determine benefit obligations disclosed above represents the weighted average of the individual spot rates. The discount rate assumption used to determine the net periodic benefit cost is the single weighted average discount rate derived from the yield curve used to measure the benefit obligation at the beginning of the year. In choosing the expected long-term rate of return on plan assets, the Company selected the rate that was set as the return objective by the Company's Benefit Plans Investment Committee, which had considered the historical returns of equity and fixed maturity markets in conjunction with prevailing economic and financial market conditions. The assumptions made for the Company's foreign pension and foreign postretirement benefit plans are not materially different from those of the Company's qualified domestic pension plan and the domestic postretirement benefit plan. 200 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "14. "
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"text": "PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued)"
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"text": "200"
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"text": "(at and for the year ended December 31,) "
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"text": "2019 "
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"text": "2018"
},
{
"bbox": [
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"text": "Assumptions used to determine benefit obligations"
},
{
"bbox": [
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"text": "Discount rate:"
},
{
"bbox": [
0.0963232316553392,
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0.6880885679713805,
0.18431150451187014
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"ocr": false,
"ocr_confidence": 1,
"text": "Qualified domestic pension plan............................................................................................. "
},
{
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0.1740349663628472,
0.8041782571811869,
0.18288277717215762
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"ocr_confidence": 1,
"text": "3.28% "
},
{
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0.1742354991824128,
0.9178347603640572,
0.1829955423833172
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"text": "4.39%"
},
{
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0.6880885679713805,
0.20310993835291505
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"ocr": false,
"ocr_confidence": 1,
"text": "Nonqualified domestic pension plan....................................................................................... "
},
{
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0.7615243931009312,
0.1928334002038921,
0.8041782571811869,
0.20168121101320252
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"ocr": false,
"ocr_confidence": 1,
"text": "3.17% "
},
{
"bbox": [
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0.1930339330234577,
0.9178347603640572,
0.20168121101320252
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"ocr_confidence": 1,
"text": "4.33%"
},
{
"bbox": [
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0.6880885679713805,
0.22190837219395995
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"ocr": false,
"ocr_confidence": 1,
"text": "Domestic postretirement benefit plan ..................................................................................... "
},
{
"bbox": [
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0.21163183404493702,
0.8041782571811869,
0.22047964485424743
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"ocr": false,
"ocr_confidence": 1,
"text": "3.09% "
},
{
"bbox": [
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0.21174459925609657,
0.9178347603640572,
0.22047964485424743
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"ocr": false,
"ocr_confidence": 1,
"text": "4.26%"
},
{
"bbox": [
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0.6880900578868108,
0.24070680603500486
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"ocr": false,
"ocr_confidence": 1,
"text": "Cash balance interest crediting rate........................................................................................... "
},
{
"bbox": [
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0.23043034674277293,
0.8041782058047927,
0.23926561932231105
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"ocr": false,
"ocr_confidence": 1,
"text": "4.01% "
},
{
"bbox": [
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0.23064341779211078,
0.9178346576112689,
0.23927815755208334
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"ocr": false,
"ocr_confidence": 1,
"text": "4.01%"
},
{
"bbox": [
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0.6880900065104166,
0.2595053187328408
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"ocr": false,
"ocr_confidence": 1,
"text": "Future compensation increase rate ............................................................................................ "
},
{
"bbox": [
0.7615732520517676,
0.24922878058381784,
0.8041781544283986,
0.25806405316335596
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"ocr": false,
"ocr_confidence": 1,
"text": "4.00% "
},
{
"bbox": [
0.8768301299124053,
0.2494418516331557,
0.9178346576112689,
0.2580765913931282
],
"ocr": false,
"ocr_confidence": 1,
"text": "4.00%"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Assumptions used to determine net periodic benefit cost"
},
{
"bbox": [
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"ocr_confidence": 1,
"text": "Discount rate:"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Qualified domestic pension plan:"
},
{
"bbox": [
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0.6676791412661774,
0.3309017841822109
],
"ocr": false,
"ocr_confidence": 1,
"text": "Service cost ..................................................................................................................."
},
{
"bbox": [
0.6699490531125053,
0.32948559507227065,
0.6880916505550294,
0.33086416949289404
],
"ocr": false,
"ocr_confidence": 1,
"text": "..... "
},
{
"bbox": [
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0.3231693238250969,
0.8041781030520044,
0.33200459640463503
],
"ocr": false,
"ocr_confidence": 1,
"text": "4.57% "
},
{
"bbox": [
0.8773526278409091,
0.32336985664466245,
0.9178345548584806,
0.3320171346344073
],
"ocr": false,
"ocr_confidence": 1,
"text": "3.87%"
},
{
"bbox": [
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0.6635966188578494,
0.3497002180232558
],
"ocr": false,
"ocr_confidence": 1,
"text": "Interest cost .................................................................................................................."
},
{
"bbox": [
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0.3482840683417111,
0.6880916505550294,
0.34966260333393895
],
"ocr": false,
"ocr_confidence": 1,
"text": "...... "
},
{
"bbox": [
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0.34196783652293283,
0.8041781030520044,
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],
"ocr": false,
"ocr_confidence": 1,
"text": "4.02% "
},
{
"bbox": [
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0.3421683299141029,
0.9178345548584806,
0.3508156079038477
],
"ocr": false,
"ocr_confidence": 1,
"text": "3.34%"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Nonqualified domestic pension plan:"
},
{
"bbox": [
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0.6676791412661774,
0.38729716456213664
],
"ocr": false,
"ocr_confidence": 1,
"text": "Service cost ..................................................................................................................."
},
{
"bbox": [
0.6699490531125053,
0.3858810148805919,
0.6880916505550294,
0.38725954987281974
],
"ocr": false,
"ocr_confidence": 1,
"text": "..... "
},
{
"bbox": [
0.7615732006753735,
0.3795647042050226,
0.8041781030520044,
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"ocr": false,
"ocr_confidence": 1,
"text": "4.40% "
},
{
"bbox": [
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0.3797652370245882,
0.9178345548584806,
0.388412515014333
],
"ocr": false,
"ocr_confidence": 1,
"text": "3.73%"
},
{
"bbox": [
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],
"ocr": false,
"ocr_confidence": 1,
"text": "Interest cost .................................................................................................................."
},
{
"bbox": [
0.6658665820805714,
0.4046794487216368,
0.6880916505550294,
0.40605798371386465
],
"ocr": false,
"ocr_confidence": 1,
"text": "...... "
},
{
"bbox": [
0.7615242389717487,
0.3983631380460675,
0.8041781030520044,
0.4072109488553779
],
"ocr": false,
"ocr_confidence": 1,
"text": "3.95% "
},
{
"bbox": [
0.8773526278409091,
0.3984759426856226,
0.9178345548584806,
0.4072109488553779
],
"ocr": false,
"ocr_confidence": 1,
"text": "3.26%"
},
{
"bbox": [
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0.3416154649522569,
0.4274380706077398
],
"ocr": false,
"ocr_confidence": 1,
"text": "Domestic postretirement benefit plan:"
},
{
"bbox": [
0.1156903533421783,
0.4352206444555475,
0.6635966188578494,
0.4436924660852713
],
"ocr": false,
"ocr_confidence": 1,
"text": "Interest cost .................................................................................................................."
},
{
"bbox": [
0.6658665820805714,
0.4422763164037266,
0.6880916505550294,
0.44365485139595445
],
"ocr": false,
"ocr_confidence": 1,
"text": "...... "
},
{
"bbox": [
0.7615242389717487,
0.43596008458494834,
0.8041781030520044,
0.44480789539425875
],
"ocr": false,
"ocr_confidence": 1,
"text": "3.90% "
},
{
"bbox": [
0.8773526278409091,
0.4361605779761184,
0.9178345548584806,
0.4448078559658632
],
"ocr": false,
"ocr_confidence": 1,
"text": "3.21%"
},
{
"bbox": [
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0.4650349777182251
],
"ocr": false,
"ocr_confidence": 1,
"text": "Expected long-term rate of return on assets:"
},
{
"bbox": [
0.09609436266350024,
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0.6513458149200336,
0.48383341155927
],
"ocr": false,
"ocr_confidence": 1,
"text": "Pension plan ..................................................................................................................."
},
{
"bbox": [
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],
"ocr": false,
"ocr_confidence": 1,
"text": "......... "
},
{
"bbox": [
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0.4735569522670381,
0.8041780002992162,
0.48239222484657623
],
"ocr": false,
"ocr_confidence": 1,
"text": "7.00% "
},
{
"bbox": [
0.8769768608940972,
0.47377002331637597,
0.9178344521056924,
0.4824047630763485
],
"ocr": false,
"ocr_confidence": 1,
"text": "7.00%"
},
{
"bbox": [
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0.6840057373046875,
0.5026318848287105
],
"ocr": false,
"ocr_confidence": 1,
"text": "Postretirement benefit plan ...................................................................................................."
},
{
"bbox": [
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0.6880882597130156,
0.5000502317758801
],
"ocr": false,
"ocr_confidence": 1,
"text": ". "
},
{
"bbox": [
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0.49235542553647854,
0.8041780002992162,
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],
"ocr": false,
"ocr_confidence": 1,
"text": "4.00% "
},
{
"bbox": [
0.8768299244068287,
0.49256845715742087,
0.9178344521056924,
0.5012031969173935
],
"ocr": false,
"ocr_confidence": 1,
"text": "4.00%"
},
{
"bbox": [
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0.5186857474866764
],
"ocr": false,
"ocr_confidence": 1,
"text": "Assumed health care cost trend rates"
},
{
"bbox": [
0.08621466922438907,
0.5276588617369186,
0.18850557731859613,
0.5389880591892765
],
"ocr": false,
"ocr_confidence": 1,
"text": "Following year:"
},
{
"bbox": [
0.0960126549306542,
0.5464447967765867,
0.6799232662727536,
0.5577739942289446
],
"ocr": false,
"ocr_confidence": 1,
"text": "Medical (before age 65) ........................................................................................................"
},
{
"bbox": [
0.6821931781190814,
0.5538138061838864,
0.6880883110894097,
0.5551923411761144
],
"ocr": false,
"ocr_confidence": 1,
"text": ".. "
},
{
"bbox": [
0.7615567088528514,
0.5474975349367127,
0.804177948922822,
0.5563328075162508
],
"ocr": false,
"ocr_confidence": 1,
"text": "7.00% "
},
{
"bbox": [
0.8769768608940972,
0.5475727248869509,
0.9178344521056924,
0.5563453457460231
],
"ocr": false,
"ocr_confidence": 1,
"text": "7.50%"
},
{
"bbox": [
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0.5652432700460271,
0.6880882597130156,
0.576572467498385
],
"ocr": false,
"ocr_confidence": 1,
"text": "Medical (age 65 and older) ..................................................................................................... "
},
{
"bbox": [
0.7616873590231744,
0.5662960082061531,
0.804177948922822,
0.5751312807856912
],
"ocr": false,
"ocr_confidence": 1,
"text": "8.25% "
},
{
"bbox": [
0.8775157992687289,
0.5663711587279958,
0.9178344521056924,
0.575143779587068
],
"ocr": false,
"ocr_confidence": 1,
"text": "8.75%"
},
{
"bbox": [
0.08621461142594565,
0.5840542421168443,
0.6880881569602273,
0.5948696087189115
],
"ocr": false,
"ocr_confidence": 1,
"text": "Rate to which the cost trend rate is assumed to decline (ultimate trend rate) ........................... "
},
{
"bbox": [
0.7615729951697969,
0.585094442047198,
0.8041778975464278,
0.5939297146267362
],
"ocr": false,
"ocr_confidence": 1,
"text": "4.50% "
},
{
"bbox": [
0.8768298216540404,
0.5851696319974362,
0.9178343493529041,
0.5939422528565084
],
"ocr": false,
"ocr_confidence": 1,
"text": "4.50%"
},
{
"bbox": [
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0.6028527153862847,
0.40133065888375946,
0.61158772155604
],
"ocr": false,
"ocr_confidence": 1,
"text": "Year that the rate reaches the ultimate trend rate:"
},
{
"bbox": [
0.09601252648966882,
0.6216386109975574,
0.6799231635199653,
0.6329678084499152
],
"ocr": false,
"ocr_confidence": 1,
"text": "Medical (before age 65) ........................................................................................................"
},
{
"bbox": [
0.682193023989899,
0.629007620404857,
0.6880881569602273,
0.630386155397085
],
"ocr": false,
"ocr_confidence": 1,
"text": ".. "
},
{
"bbox": [
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"text": "Medical (age 65 and older) ..................................................................................................... "
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"text": "The discount rate assumption used to determine the benefit obligation is based on a yield-curve approach. Under this approach, "
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"text": "individual spot rates from the yield curve of a hypothetical portfolio of high quality fixed maturity corporate bonds (rated Aa) "
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"text": "available at the year-end valuation date, for which the timing and amount of cash outflows correspond with the timing and amount "
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"text": "of the estimated benefit payouts of the Company’s benefit plan, are applied to expected future benefits payments in measuring ththe "
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"text": "projected benefit obligation. The discount rate assumption used to determine benefit obligations disclosed above represents the "
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"text": "weighted average of the individual spot rates."
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"text": "The discount rate assumption used to determine the net periodic benefit cost is the single weighted average discount rate derived "
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"text": "from the yield curve used to measure the benefit obligation at the beginning of the year."
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"text": "In choosing the expected long-term rate of return on plan assets, the Company selected the rate that was set as the return objective "
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"text": "by the Company’s Benefit Plans Investment Committee, which had considered the historical returns of equity and fixed maturity "
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"text": "markets in conjunction with prevailing economic and financial market conditions."
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"text": "The assumptions made for the Company’s foreign pension and foreign postretirement benefit plans are not materially different "
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"text": "from those of the Company’s qualified domestic pension plan and the domestic postretirement benefit plan."
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "14. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued)"
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"text": "The discount rate assumption used to determine the benefit obligation is based on a yield-curve approach. Under this approach, individual spot rates from the yield curve of a hypothetical portfolio of high quality fixed maturity corporate bonds (rated Aa) available at the year-end valuation date, for which the timing and amount of cash outflows correspond with the timing and amount of the estimated benefit payouts of the Company's benefit plan, are applied to expected future benefits payments in measuring ththe projected benefit obligation. The discount rate assumption used to determine benefit obligations disclosed above represents the weighted average of the individual spot rates."
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"text": "The discount rate assumption used to determine the net periodic benefit cost is the single weighted average discount rate derived from the yield curve used to measure the benefit obligation at the beginning of the year."
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"text": "In choosing the expected long-term rate of return on plan assets, the Company selected the rate that was set as the return objective by the Company's Benefit Plans Investment Committee, which had considered the historical returns of equity and fixed maturity markets in conjunction with prevailing economic and financial market conditions."
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"text": "The assumptions made for the Company's foreign pension and foreign postretirement benefit plans are not materially different from those of the Company's qualified domestic pension plan and the domestic postretirement benefit plan."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-220 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 14. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued) Plan Assets The qualified domestic pension plan assets are invested for the exclusive benefit of the plan participants and beneficiaries and are intended, over time, to satisfy the benefit obligations under the plan. Risk tolerance is established through consideration of plan liabilities, plan funded status and corporate financial position. The asset mix guidelines have been established and are reviewed quarterly. These guidelines are intended to serve as tools to facilitate the investment of plan assets to maximize long-term total return and the ongoing oversight of the plan's investment performance. Investment risk is measured and monitored on an ongoing basis through daily and monthly investment portfolio reviews, annual liability measurements and periodic asset/liability studies. The Company's overall investment strategy for the qualified domestic pension plan is to achieve a mix of approximately 85% to 90% of investments for long-term growth and 10% to 15% for near-term benefit payments with a diversification of asset types, fund strategies and fund managers. The current target allocations for plan assets are 55% to 65% equity securities and 20% to 40% fixed income securities, with the remainder allocated to short-term securities. Equity securities primarily include investments in large, medium and small-cap companies primarily located in the United States. Fixed income securities include corporate bonds of companies from diversified industries, mortgage-backed securities, U.S. Treasury securities and debt securities issued by foreign governments. Assets of the Company's foreign pension plans are not significant. Fair Value Measurement - Pension Plans and Other Postretirement Benefit Assets For a discussion of the methods employed by the Company to measure the fair value of invested assets, see note 4. The following discussion of fair value measurements applies exclusively to the Company's pension plans and other postretirement benefit assets. Fair value estimates for equity and bond mutual funds held by the pension plans reflect prices received from an external pricing service that are based on observable market transactions. These estimates are primarily included in Level 1. Short-term securities are carried at fair value which approximates cost plus accrued interest or amortized discount. The fair value or market value of these is periodically compared to this amortized cost and is based on significant observable inputs as determined by an external pricing service. Accordingly, the estimates of fair value for such short-term securities, other than U.S. Treasury securities and money market mutual funds, provided by an external pricing service are included in the amount disclosed in Level 2 of the hierarchy. The estimated fair value of U.S. Treasury securities and money market mutual funds is included in the amount disclosed in Level 1 as the estimates are based on unadjusted market prices. Fair Value Hierarchy - Pension Plans The following tables present the level within the fair value hierarchy at which the financial assets of the Company's pension plans are measured on a recurring basis. 201 | [
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"text": "PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued)"
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"text": "The qualified domestic pension plan assets are invested for the exclusive benefit of the plan participants and beneficiaries and are "
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"text": "intended, over time, to satisfy the benefit obligations under the plan. Risk tolerance is established through consideration of plan "
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"text": "liabilities, plan funded status and corporate financial position. The asset mix guidelines have been established and are reviewed "
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"text": "quarterly. These guidelines are intended to serve as tools to facilitate the investment of plan assets to maximize long-term total "
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"text": "return and the ongoing oversight of the plan’s investment performance. Investment risk is measured and monitored on an ongoing"
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"text": "basis through daily and monthly investment portfolio reviews, annual liability measurements and periodic asset/liability studies."
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"text": "90% of investments for long-term growth and 10% to 15% for near-term benefit payments with a diversification of asset types, "
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"text": "fund strategies and fund managers. The current target allocations for plan assets are 55% to 65% equity securities and 20% to "
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"text": "40% fixed income securities, with the remainder allocated to short-term securities. Equity securities primarily include investments "
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"text": "in large, medium and small-cap companies primarily located in the United States. Fixed income securities include corporate bonds "
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"text": "of companies from diversified industries, mortgage-backed securities, U.S. Treasury securities and debt securities issued by foreign "
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"text": "governments. "
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"text": "Assets of the Company’s foreign pension plans are not significant."
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"text": "Fair Value Measurement — Pension Plans and Other Postretirement Benefit Assets"
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"text": "For a discussion of the methods employed by the Company to measure the fair value of invested assets, see note 4. The following "
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"text": "discussion of fair value measurements applies exclusively to the Company’s pension plans and other postretirement benefit assets."
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"text": "Short-term securities are carried at fair value which approximates cost plus accrued interest or amortized discount. The fair value "
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"text": "or market value of these is periodically compared to this amortized cost and is based on significant observable inputs as determined "
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"text": "by an external pricing service. Accordingly, the estimates of fair value for such short-term securities, other than U.S. Treasury "
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"text": "securities and money market mutual funds, provided by an external pricing service are included in the amount disclosed in Level"
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"text": "2 of the hierarchy. The estimated fair value of U.S. Treasury securities and money market mutual funds is included in the amount "
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"text": "The following tables present the level within the fair value hierarchy at which the financial assets of the Company’s pension plans "
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"text": "are measured on a recurring basis."
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "14. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued)"
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"text": "Plan Assets"
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"text": "The qualified domestic pension plan assets are invested for the exclusive benefit of the plan participants and beneficiaries and are intended, over time, to satisfy the benefit obligations under the plan. Risk tolerance is established through consideration of plan liabilities, plan funded status and corporate financial position. The asset mix guidelines have been established and are reviewed quarterly. These guidelines are intended to serve as tools to facilitate the investment of plan assets to maximize long-term total return and the ongoing oversight of the plan's investment performance. Investment risk is measured and monitored on an ongoing basis through daily and monthly investment portfolio reviews, annual liability measurements and periodic asset/liability studies."
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"text": "The Company's overall investment strategy for the qualified domestic pension plan is to achieve a mix of approximately 85% to 90% of investments for long-term growth and 10% to 15% for near-term benefit payments with a diversification of asset types, fund strategies and fund managers. The current target allocations for plan assets are 55% to 65% equity securities and 20% to 40% fixed income securities, with the remainder allocated to short-term securities. Equity securities primarily include investments in large, medium and small-cap companies primarily located in the United States. Fixed income securities include corporate bonds of companies from diversified industries, mortgage-backed securities, U.S. Treasury securities and debt securities issued by foreign governments."
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"text": "Assets of the Company's foreign pension plans are not significant."
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"text": "Fair Value Measurement - Pension Plans and Other Postretirement Benefit Assets"
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"text": "For a discussion of the methods employed by the Company to measure the fair value of invested assets, see note 4. The following discussion of fair value measurements applies exclusively to the Company's pension plans and other postretirement benefit assets."
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"text": "Fair value estimates for equity and bond mutual funds held by the pension plans reflect prices received from an external pricing service that are based on observable market transactions. These estimates are primarily included in Level 1."
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"text": "Short-term securities are carried at fair value which approximates cost plus accrued interest or amortized discount. The fair value or market value of these is periodically compared to this amortized cost and is based on significant observable inputs as determined by an external pricing service. Accordingly, the estimates of fair value for such short-term securities, other than U.S. Treasury securities and money market mutual funds, provided by an external pricing service are included in the amount disclosed in Level 2 of the hierarchy. The estimated fair value of U.S. Treasury securities and money market mutual funds is included in the amount disclosed in Level 1 as the estimates are based on unadjusted market prices."
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"text": "Fair Value Hierarchy - Pension Plans"
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"text": "The following tables present the level within the fair value hierarchy at which the financial assets of the Company's pension plans are measured on a recurring basis."
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"text": "201"
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] | {
"filename": "NYSE_TRV_2019.pdf",
"page": 220
} |
e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-221 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 14. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued) 202 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued)"
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"text": "(at December 31, 2019, in millions) "
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"text": "Total "
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"text": "Invested assets:"
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"text": "Fixed maturities"
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"text": "Obligations of states, municipalities and political"
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"text": "subdivisions.................................................................. "
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"text": "$ 3$ —$ 3$ —"
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"text": "Debt securities issued by foreign governments ............... "
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"text": "30—30 —"
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"text": "Mortgage-backed securities, collateralized mortgage"
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"text": "obligations and pass-through securities........................ "
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"text": "30—30 —"
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"text": "All other corporate bonds................................................. "
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"text": "715 "
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"text": "— "
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"text": "715 "
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"text": "—"
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"text": "Total fixed maturities.............................................. "
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"text": "778 "
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"text": "— "
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"text": "778 "
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"text": "—"
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"text": "Mutual funds"
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"text": "Equity mutual funds......................................................... "
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"text": "1,585 1,578 "
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"text": "7 "
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"text": "—"
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"text": "Bond mutual funds........................................................... "
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"text": "869 "
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"text": "866 "
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"text": "3 "
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"text": "—"
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"text": "Total mutual funds....................................................... "
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"text": "2,454 2,444 "
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"text": "10 "
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"text": "—"
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"text": "Equity securities "
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"text": "............................................................... "
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"text": "1,018 1,017 "
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"text": "1 "
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"text": "—"
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"text": "Other investments"
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"text": "............................................................. "
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"text": "2—— 2"
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"text": "Cash and short-term securities"
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"text": "U.S. Treasury securities ................................................... "
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"text": "20 20——"
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"text": "Money market mutual funds ............................................ "
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"text": "27 27——"
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"text": "Other ................................................................................ "
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"text": "86 "
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"text": "17 "
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"text": "69 "
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"text": "—"
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"text": "Total cash and short-term securities ....................... "
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "14. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued)"
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-222 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 14. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued) Other Postretirement Benefit Plans The Company's overall investment strategy is to achieve a mix of approximately 35% to 65% of investments for long-term growth and 35% to 65% for near-term insurance payments with a wide diversification of asset types, fund strategies and fund managers. The current target allocations for plan assets are 25% to 75% fixed income securities, with the remainder allocated to short-term securities. Fixed income securities include corporate bonds of companies from diversified industries, mortgage-backed securities and U.S. Treasuries. Fair Value - Other Postretirement Benefit Plans The Company's other postretirement benefit plans had financial assets of $12 million at both December 31, 2019 and 2018, which are measured at fair value on a recurring basis. The assets are primarily corporate bonds, which are categorized as level 2 in the fair value hierarchy. 203 | [
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"text": "Invested assets:"
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"text": "Fixed maturities"
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"text": "Obligations of states, municipalities and political"
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"text": "subdivisions.................................................................. "
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"text": "$ 3$ —$ 3$ —"
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"text": "Debt securities issued by foreign governments ............... "
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"text": "Mortgage-backed securities, collateralized mortgage"
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"text": "obligations and pass-through securities........................ "
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"text": "30—30 —"
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"text": "All other corporate bonds................................................. "
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"text": "712 "
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"text": "Total fixed maturities.............................................. "
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"text": "Mutual funds"
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"text": "Equity mutual funds......................................................... "
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"text": "1,288 1,282 "
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"text": "Bond mutual funds........................................................... "
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"text": "760 "
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"text": "3 "
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"text": "—"
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"text": "Total mutual funds....................................................... "
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"text": "2,048 2,039 "
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"text": "9 "
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"text": "Equity securities "
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"text": "............................................................... "
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"text": "— "
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"text": "Other investments"
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"text": "............................................................. "
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"text": "1—— 1"
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"text": "Cash and short-term securities"
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"text": "U.S. Treasury securities ................................................... "
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"text": "30 30——"
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"text": "Money market mutual funds ............................................ "
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"text": "————"
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"text": "Other ................................................................................ "
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"text": "240 "
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"text": "19 "
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"text": "221 "
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"text": "Total cash and short-term securities ....................... "
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "The Company's overall investment strategy is to achieve a mix of approximately 35% to 65% of investments for long-term growth and 35% to 65% for near-term insurance payments with a wide diversification of asset types, fund strategies and fund managers. The current target allocations for plan assets are 25% to 75% fixed income securities, with the remainder allocated to short-term securities. Fixed income securities include corporate bonds of companies from diversified industries, mortgage-backed securities and U.S. Treasuries."
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"text": "The Company's other postretirement benefit plans had financial assets of $12 million at both December 31, 2019 and 2018, which are measured at fair value on a recurring basis. The assets are primarily corporate bonds, which are categorized as level 2 in the fair value hierarchy."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-223 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 14. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued) Estimated Future Benefit Payments The following table presents the estimated benefits expected to be paid by the Company's pension and postretirement benefit plans for the next ten years (reflecting estimated future employee service). Savings Plan The Company has a savings plan, The Travelers 401(k) Savings Plan (the Savings Plan), in which substantially all U.S. domestic Company employees are eligible to participate. Under the Savings Plan, the Company matches employee contributions up to 5% of eligible pay, with a maximum annual match of $6,500 which becomes 100% vested after three years of service. The Company's matching contribution is made in cash and invested according to the employee's current investment elections and can be reinvested into other investment options in accordance with the terms of the Savings Plan. The Company's non-U.S. employees participate in separate savings plans. The total expense related to all of the savings plans was $123 million, $118 million and $119 million for the years ended December 31, 2019, 2018 and 2017, respectively. All common shares held by the Savings Plan are considered outstanding for basic and diluted EPS computations and dividends paid on all shares are charged to retained earnings. 15. LEASES The Company enters into lease agreements for real estate that is primarily used for office space in the ordinary course of business. These leases are accounted for as operating leases, whereby lease expense is recognized on a straight-line basis over the term of the lease. See note 1-Adoption of Accounting Standards-Leases for additional information regarding the accounting for leases. Most leases include an option to extend or renew the lease term. The exercise of the renewal option is at the Company's discretion. The operating lease liability includes lease payments related to options to extend or renew the lease term if the Company is reasonably certain of exercising those options. The Company, in determining the present value of lease payments, utilizes either the rate implicit in the lease, if that rate is readily determinable, or the Company's incremental secured borrowing rate commensurate with the term of the underlying lease. Lease expense is included in general and administrative expenses in the consolidated statement of income. Additional information regarding the Company's real estate operating leases is as follows: 204 | [
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"text": "The following table presents the estimated benefits expected to be paid by the Company’s pension and postretirement benefit plans "
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"text": "for the next ten years (reflecting estimated future employee service)."
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"text": "(in millions) "
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"text": "Pension Plans"
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"text": "$ 250 $ 12"
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"text": "2021 ..........................................................................................................................."
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"text": "2022 ..........................................................................................................................."
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"text": "................ "
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"text": "2023 ..........................................................................................................................."
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"text": "2024 ..........................................................................................................................."
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"text": "2025 through 2029.............................................................................................................."
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"text": "Savings Plan"
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"text": "The Company has a savings plan, The Travelers 401(k) Savings Plan (the Savings Plan), in which substantially all U.S. domestic "
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"text": "Company employees are eligible to participate. Under the Savings Plan, the Company matches employee contributions up to 5%"
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"text": "of eligible pay, with a maximum annual match of $6,500 which becomes 100% vested after three years of service. The Company’s "
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"text": "into other investment options in accordance with the terms of the Savings Plan. The Company’s non-U.S. employees participate "
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"text": "in separate savings plans. The total expense related to all of the savings plans was $123 million, $118 million and $119 million"
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"text": "for the years ended December 31, 2019, 2018 and 2017, respectively."
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"text": "All common shares held by the Savings Plan are considered outstanding for basic and diluted EPS computations and dividends "
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"text": "paid on all shares are charged to retained earnings."
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"text": "15. "
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"text": "LEASES"
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"text": "The Company enters into lease agreements for real estate that is primarily used for office space in the ordinary course of business. "
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"text": "These leases are accounted for as operating leases, whereby lease expense is recognized on a straight-line basis over the term of "
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"text": "the lease. See note 1—Adoption of Accounting Standards—Leases for additional information regarding the accounting for leases. "
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"text": "Most leases include an option to extend or renew the lease term. The exercise of the renewal option is at the Company's discretion. "
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"text": "The operating lease liability includes lease payments related to options to extend or renew the lease term if the Company is "
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"text": "reasonably certain of exercising those options. The Company, in determining the present value of lease payments, utilizes either "
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"text": "the rate implicit in the lease, if that rate is readily determinable, or the Company’s incremental secured borrowing rate commensurate "
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"text": "with the term of the underlying lease. "
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"text": "Lease expense is included in general and administrative expenses in the consolidated statement of income. Additional information "
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"text": "regarding the Company’s real estate operating leases is as follows:"
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "14. PENSION PLANS, RETIREMENT BENEFITS AND SAVINGS PLANS (Continued)"
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"text": "Estimated Future Benefit Payments"
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"text": "The following table presents the estimated benefits expected to be paid by the Company's pension and postretirement benefit plans for the next ten years (reflecting estimated future employee service)."
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"html_seq": "<table><tr><td></td><th colspan=\"2\">Benefits Expected to be Paid</th></tr><tr><td>(in millions)</td><th>Pension Plans</th><th>Postretirement Benefit Plans</th></tr><tr><td>2020 ........................................................................................................................... ................</td><td></td><td>$ 250 $ 12</td></tr><tr><td>2021 ........................................................................................................................... ................</td><td>261</td><td>12</td></tr><tr><td>2022 ........................................................................................................................... ................</td><td>265</td><td>12</td></tr><tr><td>2023 ........................................................................................................................... ................</td><td>273</td><td>12</td></tr><tr><td>2024 ........................................................................................................................... ................</td><td>276</td><td>12</td></tr><tr><td>2025 through 2029.............................................................................................................. .......</td><td>1,400</td><td>55</td></tr></table>",
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"text": "Savings Plan"
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"text": "The Company has a savings plan, The Travelers 401(k) Savings Plan (the Savings Plan), in which substantially all U.S. domestic Company employees are eligible to participate. Under the Savings Plan, the Company matches employee contributions up to 5% of eligible pay, with a maximum annual match of $6,500 which becomes 100% vested after three years of service. The Company's matching contribution is made in cash and invested according to the employee's current investment elections and can be reinvested into other investment options in accordance with the terms of the Savings Plan. The Company's non-U.S. employees participate in separate savings plans. The total expense related to all of the savings plans was $123 million, $118 million and $119 million for the years ended December 31, 2019, 2018 and 2017, respectively."
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"text": "All common shares held by the Savings Plan are considered outstanding for basic and diluted EPS computations and dividends paid on all shares are charged to retained earnings."
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"text": "15. LEASES"
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"text": "The Company enters into lease agreements for real estate that is primarily used for office space in the ordinary course of business. These leases are accounted for as operating leases, whereby lease expense is recognized on a straight-line basis over the term of the lease. See note 1-Adoption of Accounting Standards-Leases for additional information regarding the accounting for leases."
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"text": "Most leases include an option to extend or renew the lease term. The exercise of the renewal option is at the Company's discretion. The operating lease liability includes lease payments related to options to extend or renew the lease term if the Company is reasonably certain of exercising those options. The Company, in determining the present value of lease payments, utilizes either the rate implicit in the lease, if that rate is readily determinable, or the Company's incremental secured borrowing rate commensurate with the term of the underlying lease."
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"text": "Lease expense is included in general and administrative expenses in the consolidated statement of income. Additional information regarding the Company's real estate operating leases is as follows:"
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"text": "204"
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"filename": "NYSE_TRV_2019.pdf",
"page": 223
} |
e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-224 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 15. LEASES (Continued) _________________________________________________________ (1) Leases with an initial term of twelve months or less are not recorded on the balance sheet. (2) Sublease income consists of rent from third parties of office space and is recognized as part of other revenues in the consolidated statement of income. Lease expense was $185 million and $188 million, respectively, for the years ended December 31, 2018 and 2017 for real estate and other operating leases. The following table presents the contractual maturities of the Company's lease liabilities: 16. CONTINGENCIES, COMMITMENTS AND GUARANTEES Contingencies The major pending legal proceedings, other than ordinary routine litigation incidental to the business, to which the Company or any of its subsidiaries is a party or to which any of the Company's properties is subject are described below. Asbestos and Environmental Claims and Litigation In the ordinary course of its insurance business, the Company has received and continues to receive claims for insurance arising under policies issued by the Company asserting alleged injuries and damages from asbestos- and environmental-related exposures 205 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "LEASES (Continued)"
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"text": "(for the year ended December 31, in millions) "
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"text": "Lease cost"
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"text": "Operating leases..............................................................................................................."
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"text": ".......... "
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"text": "$ 92"
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"text": "Short-term leases (1)"
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"text": ".................................................................................................................... "
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"text": "10"
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"text": "Lease expense.................................................................................................................."
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"text": "....... "
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"text": "102"
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"text": "Less: sublease income (2)"
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"text": "............................................................................................................ "
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"text": "—"
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"text": "Net lease cost................................................................................................................."
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"text": "......... "
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"text": "$ 102"
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"text": "Other information on operating leases"
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"text": "Cash payments to settle a lease liability reported in cash flows.................................................... "
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"text": "$ 104"
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"text": "Right-of-use assets obtained in exchange for new lease liabilities ............................................... "
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"text": "$ 60"
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"text": "Weighted average discount rate................................................................................................."
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"text": "3.02%"
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"text": "Weighted average remaining lease term in years .......................................................................... "
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"text": "5.1 years"
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"text": "_________________________________________________________"
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"text": "(1) Leases with an initial term of twelve months or less are not recorded on the balance sheet."
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"text": "(2) Sublease income consists of rent from third parties of office space and is recognized as part of other revenues in the consolidated "
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"text": "statement of income. "
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"text": "Lease expense was $185 million and $188 million, respectively, for the years ended December 31, 2018 and 2017 for real estate "
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"text": "and other operating leases."
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"text": "The following table presents the contractual maturities of the Company's lease liabilities: "
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"text": "(in millions)"
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"text": "Real Estate Lease"
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"text": "15. LEASES (Continued)"
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-225 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 16. CONTINGENCIES, COMMITMENTS AND GUARANTEES (Continued) that are the subject of related coverage litigation. The Company is defending asbestos- and environmental-related litigation vigorously and believes that it has meritorious defenses; however, the outcomes of these disputes are uncertain. In this regard, the Company employs dedicated specialists and comprehensive resolution strategies to manage asbestos and environmental loss exposure, including settling litigation under appropriate circumstances. Currently, it is not possible to predict legal outcomes and their impact on future loss development for claims and litigation relating to asbestos and environmental claims. Any such development could be affected by future court decisions and interpretations, as well as future changes, if any, in applicable legislation. Because of these uncertainties, additional liabilities may arise for amounts in excess of the Company's current insurance reserves. In addition, the Company's estimate of ultimate claims and claim adjustment expenses may change. These additional liabilities or changes in estimates, or a range of either, cannot now be reasonably estimated and could result in income statement charges that could be material to the Company's results of operations in future periods. Other Proceedings Not Arising Under Insurance Contracts or Reinsurance Agreements The Company is involved in other lawsuits, including lawsuits alleging extra-contractual damages relating to insurance contracts or reinsurance agreements, that do not arise under insurance contracts or reinsurance agreements. The legal costs associated with such lawsuits are expensed in the period in which the costs are incurred. Based upon currently available information, the Company does not believe it is reasonably possible that any such lawsuit or related lawsuits would be material to the Company's results of operations or would have a material adverse effect on the Company's financial position or liquidity. Other Commitments and Guarantees Commitments Investment Commitments - The Company has unfunded commitments to private equity limited partnerships and real estate partnerships in which it invests. These commitments totaled $1.66 billion and $1.60 billion at December 31, 2019 and 2018, respectively. Guarantees In the ordinary course of selling businesses to third parties, the Company has agreed to indemnify purchasers for losses arising out of breaches of representations and warranties, obligations arising from certain liabilities and any breach or failure to perform certain covenants with respect to the businesses being sold. Such indemnification provisions generally are applicable from the closing date to the expiration of the relevant statutes of limitations, although, in some cases, there may be agreed upon term limitations or no term limitations. Certain of these contingent obligations are subject to deductibles which have to be incurred by the obligee before the Company is obligated to make payments. The maximum amount of the Company's contingent obligation for indemnifications related to the sale of businesses that are quantifiable was $351 million at December 31, 2019. The Company also has contingent obligations for guarantees related to certain investments, certain insurance policy obligations of former insurance subsidiaries and various other indemnifications. The Company also provides standard indemnifications to service providers in the normal course of business. The indemnification clauses are often standard contractual terms. The maximum amount of the Company's obligation related to the guarantee of certain insurance policy obligations of a former insurance subsidiary was $480 million at December 31, 2019, all of which is indemnified by a third party. Certain of the guarantees and indemnifications described above have no stated or notional amounts or limitation to the maximum potential future payments, and, accordingly, the Company is unable to provide an estimate of the maximum potential payments for such arrangements. 17. NONCASH INVESTING AND FINANCING ACTIVITIES There were no material noncash financing or investing activities during the years ended December 31, 2019, 2018 and 2017. 206 | [
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"text": "partnerships in which it invests. These commitments totaled $1.66 billion and $1.60 billion at December 31, 2019 and 2018, "
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"text": "In the ordinary course of selling businesses to third parties, the Company has agreed to indemnify purchasers for losses arising "
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"text": "certain covenants with respect to the businesses being sold. Such indemnification provisions generally are applicable from the"
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"text": "of former insurance subsidiaries and various other indemnifications. The Company also provides standard indemnifications to "
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"text": "service providers in the normal course of business. The indemnification clauses are often standard contractual terms. The maximum "
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"text": "amount of the Company’s obligation related to the guarantee of certain insurance policy obligations of a former insurance subsidiary "
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"text": "Certain of the guarantees and indemnifications described above have no stated or notional amounts or limitation to the maximum "
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"text": "NONCASH INVESTING AND FINANCING ACTIVITIES"
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"text": "There were no material noncash financing or investing activities during the years ended December 31, 2019, 2018 and 2017."
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "16. CONTINGENCIES, COMMITMENTS AND GUARANTEES (Continued)"
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"text": "that are the subject of related coverage litigation. The Company is defending asbestos- and environmental-related litigation vigorously and believes that it has meritorious defenses; however, the outcomes of these disputes are uncertain. In this regard, the Company employs dedicated specialists and comprehensive resolution strategies to manage asbestos and environmental loss exposure, including settling litigation under appropriate circumstances. Currently, it is not possible to predict legal outcomes and their impact on future loss development for claims and litigation relating to asbestos and environmental claims. Any such development could be affected by future court decisions and interpretations, as well as future changes, if any, in applicable legislation. Because of these uncertainties, additional liabilities may arise for amounts in excess of the Company's current insurance reserves. In addition, the Company's estimate of ultimate claims and claim adjustment expenses may change. These additional liabilities or changes in estimates, or a range of either, cannot now be reasonably estimated and could result in income statement charges that could be material to the Company's results of operations in future periods."
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"text": "Investment Commitments - The Company has unfunded commitments to private equity limited partnerships and real estate partnerships in which it invests. These commitments totaled $1.66 billion and $1.60 billion at December 31, 2019 and 2018, respectively."
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"text": "In the ordinary course of selling businesses to third parties, the Company has agreed to indemnify purchasers for losses arising out of breaches of representations and warranties, obligations arising from certain liabilities and any breach or failure to perform certain covenants with respect to the businesses being sold. Such indemnification provisions generally are applicable from the closing date to the expiration of the relevant statutes of limitations, although, in some cases, there may be agreed upon term limitations or no term limitations. Certain of these contingent obligations are subject to deductibles which have to be incurred by the obligee before the Company is obligated to make payments. The maximum amount of the Company's contingent obligation for indemnifications related to the sale of businesses that are quantifiable was $351 million at December 31, 2019."
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"text": "The Company also has contingent obligations for guarantees related to certain investments, certain insurance policy obligations of former insurance subsidiaries and various other indemnifications. The Company also provides standard indemnifications to service providers in the normal course of business. The indemnification clauses are often standard contractual terms. The maximum amount of the Company's obligation related to the guarantee of certain insurance policy obligations of a former insurance subsidiary was $480 million at December 31, 2019, all of which is indemnified by a third party."
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"text": "Certain of the guarantees and indemnifications described above have no stated or notional amounts or limitation to the maximum potential future payments, and, accordingly, the Company is unable to provide an estimate of the maximum potential payments for such arrangements."
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"text": "17. NONCASH INVESTING AND FINANCING ACTIVITIES"
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"text": "There were no material noncash financing or investing activities during the years ended December 31, 2019, 2018 and 2017."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-226 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES The following consolidating financial statements of the Company have been prepared pursuant to Rule 3-10 of Regulation S-X. These consolidating financial statements have been prepared from the Company's financial information on the same basis of accounting as the consolidated financial statements. The Travelers Companies, Inc. (excluding its subsidiaries, TRV) has fully and unconditionally guaranteed certain debt obligations of Travelers Property Casualty Corp. (TPC) and Travelers Insurance Group Holdings, Inc. (TIGHI), which totaled $700 million at December 31, 2019. Prior to the merger of TPC and The St. Paul Companies, Inc. in 2004, TPC fully and unconditionally guaranteed the payment of all principal, premiums, if any, and interest on certain debt obligations of its wholly-owned subsidiary, TIGHI. Concurrent with the merger, TRV fully and unconditionally assumed such guarantee obligations of TPC. TPC is deemed to have no assets or operations independent of TIGHI. Consolidating financial information for TIGHI has not been presented herein because such financial information would be substantially the same as the financial information provided for TPC. 207 | [
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"text": "The following consolidating financial statements of the Company have been prepared pursuant to Rule 3-10 of Regulation S-X. "
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"text": "accounting as the consolidated financial statements. The Travelers Companies, Inc. (excluding its subsidiaries, TRV) has fully and "
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"text": "unconditionally guaranteed certain debt obligations of Travelers Property Casualty Corp. (TPC) and Travelers Insurance Group "
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"text": "Holdings, Inc. (TIGHI), which totaled $700 million at December 31, 2019."
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"text": "Prior to the merger of TPC and The St. Paul Companies, Inc. in 2004, TPC fully and unconditionally guaranteed the payment of "
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"text": "the merger, TRV fully and unconditionally assumed such guarantee obligations of TPC. TPC is deemed to have no assets or "
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"text": "operations independent of TIGHI. Consolidating financial information for TIGHI has not been presented herein because such "
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"text": "The following consolidating financial statements of the Company have been prepared pursuant to Rule 3-10 of Regulation S-X. These consolidating financial statements have been prepared from the Company's financial information on the same basis of accounting as the consolidated financial statements. The Travelers Companies, Inc. (excluding its subsidiaries, TRV) has fully and unconditionally guaranteed certain debt obligations of Travelers Property Casualty Corp. (TPC) and Travelers Insurance Group Holdings, Inc. (TIGHI), which totaled $700 million at December 31, 2019."
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"text": "Prior to the merger of TPC and The St. Paul Companies, Inc. in 2004, TPC fully and unconditionally guaranteed the payment of all principal, premiums, if any, and interest on certain debt obligations of its wholly-owned subsidiary, TIGHI. Concurrent with the merger, TRV fully and unconditionally assumed such guarantee obligations of TPC. TPC is deemed to have no assets or operations independent of TIGHI. Consolidating financial information for TIGHI has not been presented herein because such financial information would be substantially the same as the financial information provided for TPC."
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] | {
"filename": "NYSE_TRV_2019.pdf",
"page": 226
} |
e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-227 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES (Continued) CONSOLIDATING STATEMENT OF INCOME (Unaudited) For the year ended December 31, 2019 Other ___________________________________________ (1) Total other-than-temporary impairments (OTTI) for the year ended December 31, 2019, and the amounts comprising total OTTI that were recognized in net realized investment gains and in other comprehensive income (OCI), were as follows: 208 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND "
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"text": "SUBSIDIARIES (Continued)"
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"text": "208"
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"text": "CONSOLIDATING STATEMENT OF INCOME (Unaudited)"
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"text": "For the year ended December 31, 2019 "
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"text": "(in millions) "
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"text": "TPC"
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"text": "Other"
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"text": "Subsidiaries TRV Eliminations Consolidated"
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"text": "Revenues"
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"text": "Premiums ................................................ "
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"text": "$ 19,362 $ 8,910 $ — $ — $ 28,272"
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"text": "Net investment income ........................... "
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"text": "1,730 "
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"text": "697 "
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"text": "41 "
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"text": "— 2,468"
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"text": "Fee income.............................................. "
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"text": "458 "
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"text": "1 "
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"text": "— "
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"text": "— "
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"text": "459"
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"text": "Net realized investment gains "
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"text": "(1)"
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"text": "............. "
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"text": "44 "
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"text": "36 "
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"text": "33 "
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"text": "— "
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"text": "113"
},
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"text": "Other revenues........................................ "
},
{
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"text": "142 "
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"text": "127 "
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"text": "— "
},
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"text": "— "
},
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"text": "269"
},
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"text": "Total revenues"
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"text": "..................................... "
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"text": "21,736 9,771 "
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{
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0.6875822536070338,
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"text": "74 "
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0.3283073957576308
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"text": "— 31,581"
},
{
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"text": "Claims and expenses"
},
{
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"text": "Claims and claim adjustment expenses .. "
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{
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"text": "12,926 6,207 "
},
{
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"text": "— "
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{
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"text": "— 19,133"
},
{
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0.32481189047045983,
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"text": "Amortization of deferred acquisition"
},
{
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"text": "costs..................................................... "
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"text": "3,095 1,506 "
},
{
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"text": "— "
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"text": "— 4,601"
},
{
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"text": "General and administrative expenses...... "
},
{
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"text": "2,973 1,371 "
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"text": "21 "
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"text": "— 4,365"
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"text": "Interest expense ...................................... "
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{
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"text": "47 "
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"text": "— "
},
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"text": "297 "
},
{
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"text": "— "
},
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"text": "344"
},
{
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"text": "Total claims and expenses"
},
{
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"text": ".................. "
},
{
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"text": "19,041 9,084 "
},
{
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"text": "318 "
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"text": "— 28,443"
},
{
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"text": "Income (loss) before income taxes"
},
{
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0.33191526779020675,
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"text": "..... "
},
{
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"text": "2,695 "
},
{
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"text": "687 "
},
{
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"text": "(244) "
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{
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"text": "— 3,138"
},
{
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"text": "Income tax expense (benefit).................. "
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{
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"text": "483 "
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{
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"text": "110 "
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"text": "(77) "
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"text": "— "
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"text": "Net income of subsidiaries...................... "
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"text": "— "
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"text": "— 2,789 "
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"text": "(2,789) —"
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"text": "Net income"
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"text": "........................................... "
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"text": "$ 2,212 $ 577 $ 2,622 $ "
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"text": "(2,789) $ 2,622"
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"text": "___________________________________________"
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"text": "(1) Total other-than-temporary impairments (OTTI) for the year ended December 31, 2019, and the amounts comprising total OTTI that "
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"text": "(in millions) "
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"text": "TPC"
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"text": "Other"
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"text": "Subsidiaries TRV Eliminations Consolidated"
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"text": "Total OTTI losses ................................... "
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"text": "$ (2) $ "
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"text": "(1)$ — $ — $ "
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"text": "(3)"
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"text": "OTTI losses recognized in net realized"
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"text": "investment gains.................................. "
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"text": "$ (2) $ "
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"text": "(2)$ — $ — $ "
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"text": "(4)"
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"text": "OTTI gains recognized in OCI ............... "
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"text": "$ —$ 1$ —$ —$ 1"
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"label": "section_header",
"text": "18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES (Continued)"
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"text": "CONSOLIDATING STATEMENT OF INCOME (Unaudited)"
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"text": "For the year ended December 31, 2019"
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"text": "(1) Total other-than-temporary impairments (OTTI) for the year ended December 31, 2019, and the amounts comprising total OTTI that were recognized in net realized investment gains and in other comprehensive income (OCI), were as follows:"
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-228 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES (Continued) CONSOLIDATING STATEMENT OF INCOME (Unaudited) For the year ended December 31, 2018 Other ___________________________________________ (1) Total other-than-temporary impairments (OTTI) for the year ended December 31, 2018, and the amounts comprising total OTTI that were recognized in net realized investment gains (losses) and in other comprehensive income (OCI), were as follows: 209 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND "
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"text": "SUBSIDIARIES (Continued)"
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"text": "209"
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"text": "CONSOLIDATING STATEMENT OF INCOME (Unaudited)"
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"text": "For the year ended December 31, 2018 "
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"text": "(in millions) "
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"text": "TPC"
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"text": "Other"
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"text": "Subsidiaries TRV Eliminations Consolidated"
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"text": "Revenues"
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"text": "Premiums ................................................ "
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"text": "$ 18,508 $ 8,551 $ — $ — $ 27,059"
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"text": "Net investment income ........................... "
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"text": "1,704 "
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"text": "738 "
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"text": "32 "
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"text": "— 2,474"
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"text": "Fee income.............................................. "
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"text": "432 "
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"text": "— "
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"text": "— "
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"text": "— "
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"text": "432"
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"text": "Net realized investment gains (losses) "
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"text": "(1) "
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"text": "118 "
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"text": "9 "
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"text": "(13) "
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"text": "— "
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"text": "114"
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"text": "Other revenues........................................ "
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"text": "112 "
},
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"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "(5) "
},
{
"bbox": [
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0.9122989538944128,
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"text": "203"
},
{
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"text": "Total revenues "
},
{
"bbox": [
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0.5747258350102589,
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"text": "20,858 9,410 "
},
{
"bbox": [
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0.31809362761426035,
0.6873862526633523,
0.3268035178960756
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"ocr": false,
"ocr_confidence": 1,
"text": "19 "
},
{
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0.31785555896216894,
0.9129683883101852,
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"ocr": false,
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"text": "(5) 30,282"
},
{
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0.22986952142683345,
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"text": "Claims and expenses"
},
{
"bbox": [
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"text": "Claims and claim adjustment expenses .. "
},
{
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0.5745297826901831,
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"ocr": false,
"ocr_confidence": 1,
"text": "12,344 5,947 "
},
{
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0.6860634132667824,
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"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
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"ocr": false,
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"text": "— 18,291"
},
{
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0.32481189047045983,
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"ocr": false,
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"text": "Amortization of deferred acquisition"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "costs..................................................... "
},
{
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"ocr": false,
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"text": "2,972 1,409 "
},
{
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0.6860634132667824,
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"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
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0.3857178996083656,
0.9116455489136153,
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"ocr": false,
"ocr_confidence": 1,
"text": "— 4,381"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "General and administrative expenses...... "
},
{
"bbox": [
0.4264331907535643,
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0.5743336789937131,
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"ocr": false,
"ocr_confidence": 1,
"text": "2,947 1,335 "
},
{
"bbox": [
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0.6874023334747211,
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"ocr": false,
"ocr_confidence": 1,
"text": "20 "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "(5) 4,297"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "Interest expense ...................................... "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "48 "
},
{
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0.5733864524147727,
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],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
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],
"ocr": false,
"ocr_confidence": 1,
"text": "304 "
},
{
"bbox": [
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0.7987399631076388,
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],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
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],
"ocr": false,
"ocr_confidence": 1,
"text": "352"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "Total claims and expenses"
},
{
"bbox": [
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0.3500577881681397,
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"ocr": false,
"ocr_confidence": 1,
"text": ".................. "
},
{
"bbox": [
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0.5736150773687395,
0.45237724047914646
],
"ocr": false,
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"text": "18,311 8,691 "
},
{
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0.687581945348669,
0.4506728297980257
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"ocr": false,
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"text": "324 "
},
{
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"ocr": false,
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"text": "(5) 27,321"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "Income (loss) before income taxes"
},
{
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0.35005781385633683,
0.4684060266775678
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"ocr": false,
"ocr_confidence": 1,
"text": "..... "
},
{
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0.46185277046177925,
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"ocr": false,
"ocr_confidence": 1,
"text": "2,547 "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "719 "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "(305) "
},
{
"bbox": [
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0.46082398564932575,
0.9116453434080387,
0.47117567432019136
],
"ocr": false,
"ocr_confidence": 1,
"text": "— 2,961"
},
{
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0.35005776247994264,
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"ocr": false,
"ocr_confidence": 1,
"text": "Income tax expense (benefit).................. "
},
{
"bbox": [
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0.46185266770899097,
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"ocr": false,
"ocr_confidence": 1,
"text": "437 "
},
{
"bbox": [
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0.5743335248645307,
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],
"ocr": false,
"ocr_confidence": 1,
"text": "115 "
},
{
"bbox": [
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0.6926930745442709,
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],
"ocr": false,
"ocr_confidence": 1,
"text": "(114) "
},
{
"bbox": [
0.7863127840087069,
0.4850614483658349,
0.7987399117312447,
0.48567550619751293
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.8890772347498421,
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0.9124291416771886,
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],
"ocr": false,
"ocr_confidence": 1,
"text": "438"
},
{
"bbox": [
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0.3500544743907171,
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"ocr": false,
"ocr_confidence": 1,
"text": "Net income of subsidiaries...................... "
},
{
"bbox": [
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0.5038599216352754,
0.4607095429391572,
0.5044739794669534
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"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
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0.4985461962007429,
0.6875817912194865,
0.5087725814306767
],
"ocr": false,
"ocr_confidence": 1,
"text": "— 2,714 "
},
{
"bbox": [
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0.4984585074491279,
0.9114171294652251,
0.5092112617591247
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"ocr": false,
"ocr_confidence": 1,
"text": "(2,714) —"
},
{
"bbox": [
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0.17393956039891098,
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"ocr": false,
"ocr_confidence": 1,
"text": "Net income"
},
{
"bbox": [
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0.35005825055568707,
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"ocr": false,
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"text": "........................................... "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "$ 2,110 $ 604 $ 2,523 $ "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "(2,714) $ 2,523"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "___________________________________________"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "(1) Total other-than-temporary impairments (OTTI) for the year ended December 31, 2018, and the amounts comprising total OTTI that "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "were recognized in net realized investment gains (losses) and in other comprehensive income (OCI), were as follows:"
},
{
"bbox": [
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0.6513451864553053
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"ocr_confidence": 1,
"text": "(in millions) "
},
{
"bbox": [
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0.6498513234062097
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"ocr": false,
"ocr_confidence": 1,
"text": "TPC"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "Other"
},
{
"bbox": [
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0.6499816736817668
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"ocr": false,
"ocr_confidence": 1,
"text": "Subsidiaries "
},
{
"bbox": [
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0.9021221122356377,
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"ocr": false,
"ocr_confidence": 1,
"text": "TRV Eliminations Consolidated"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Total OTTI losses ................................... $ (1) $ — $ — $ — $ "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "(1)"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "OTTI losses recognized in net realized"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "investment gains (losses) .................... "
},
{
"bbox": [
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0.8250821303036879,
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"ocr": false,
"ocr_confidence": 1,
"text": "$ (1) $ — $ — $ — $ "
},
{
"bbox": [
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0.9180470476246844,
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"ocr": false,
"ocr_confidence": 1,
"text": "(1)"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "OTTI losses recognized in OCI .............. $ — $ — $ — $ — $ —"
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] | [
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"data": [],
"index_in_doc": 2912,
"label": "section_header",
"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"label": "section_header",
"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"label": "section_header",
"text": "18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES (Continued)"
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"label": "section_header",
"text": "CONSOLIDATING STATEMENT OF INCOME (Unaudited)"
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"label": "text",
"text": "For the year ended December 31, 2018"
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"label": "text",
"text": "Other"
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"html_seq": "<table><tr><td>(in millions)</td><th>TPC</th><td></td><td></td><th>Subsidiaries TRV Eliminations Consolidated</th></tr><tr><td>Revenues</td><td></td><td></td><td></td><td></td></tr><tr><td>Premiums ................................................</td><td></td><td></td><td></td><td>$ 18,508 $ 8,551 $ - $ - $ 27,059</td></tr><tr><td>Net investment income ...........................</td><td>1,704</td><td>738</td><td>32</td><td>- 2,474</td></tr><tr><td>Fee income..............................................</td><td>432</td><td>-</td><td>-</td><td>- 432</td></tr><tr><td>Net realized investment gains (losses) (1)</td><td>118</td><td>9</td><td>(13)</td><td>- 114</td></tr><tr><td>Other revenues........................................</td><td>96</td><td>112</td><td>-</td><td>(5) 203</td></tr><tr><td>Total revenues</td><td>20,858 9,410</td><td></td><td>19</td><td>(5) 30,282</td></tr><tr><td>Claims and expenses</td><td></td><td></td><td></td><td></td></tr><tr><td>Claims and claim adjustment expenses ..</td><td>12,344 5,947</td><td></td><td>-</td><td>- 18,291</td></tr><tr><td>Amortization of deferred acquisition costs.....................................................</td><td></td><td>2,972 1,409</td><td>-</td><td>- 4,381</td></tr><tr><td>General and administrative expenses......</td><td></td><td>2,947 1,335</td><td>20</td><td>(5) 4,297</td></tr><tr><td>Interest expense ......................................</td><td>48</td><td>-</td><td>304</td><td>- 352</td></tr><tr><td>Total claims and expenses ..................</td><td>18,311 8,691</td><td></td><td>324</td><td>(5) 27,321</td></tr><tr><td>Income (loss) before income taxes .....</td><td>2,547</td><td>719</td><td>(305)</td><td>- 2,961</td></tr><tr><td>Income tax expense (benefit)..................</td><td>437</td><td>115</td><td>(114)</td><td>- 438</td></tr><tr><td>Net income of subsidiaries......................</td><td>-</td><td></td><td>- 2,714</td><td>(2,714) -</td></tr><tr><td>Net income ...........................................</td><td></td><td>$ 2,110 $ 604 $ 2,523 $</td><td></td><td>(2,714) $ 2,523</td></tr></table>",
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"text": "___________________________________________"
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"label": "footnote",
"text": "(1) Total other-than-temporary impairments (OTTI) for the year ended December 31, 2018, and the amounts comprising total OTTI that were recognized in net realized investment gains (losses) and in other comprehensive income (OCI), were as follows:"
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"html_seq": "<table><tr><td>(in millions) TPC</td><th>Other Subsidiaries</th><th>TRV Eliminations Consolidated</th></tr><tr><td>Total OTTI losses ................................... $ (1) $ - $ - $ - $</td><td></td><td>(1)</td></tr><tr><td>OTTI losses recognized in net realized investment gains (losses) ....................</td><td>$ (1) $ - $ - $ - $</td><td>(1)</td></tr><tr><td>OTTI losses recognized in OCI .............. $ - $ - $ - $ - $ -</td><td></td><td></td></tr></table>",
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-229 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES (Continued) CONSOLIDATING STATEMENT OF INCOME (Unaudited) For the year ended December 31, 2017 Other ___________________________________________ (1) Total other-than-temporary impairments (OTTI) for the year ended December 31, 2017, and the amounts comprising total OTTI that were recognized in net realized investment gains and in other comprehensive income (OCI), were as follows: 210 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "18. "
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"text": "CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND "
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"text": "SUBSIDIARIES (Continued)"
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"text": "210"
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"text": "CONSOLIDATING STATEMENT OF INCOME (Unaudited)"
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"text": "For the year ended December 31, 2017 "
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"text": "(in millions) "
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"text": "TPC"
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"text": "Other"
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"text": "Subsidiaries TRV Eliminations Consolidated"
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"text": "Revenues"
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"text": "Premiums................................................. "
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"text": "$ 17,562 $ 8,121 $ — $ — $ 25,683"
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"text": "Net investment income............................ "
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"text": "1,627 "
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"text": "759 "
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"text": "24 "
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"text": "(13) 2,397"
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"text": "Fee income............................................... "
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"text": "447 "
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"text": "— "
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"text": "— "
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"text": "— "
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"text": "447"
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"text": "Net realized investment gains "
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"text": "(1)"
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"text": ".............. "
},
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"text": "19 "
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"text": "131 "
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"text": "66 "
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"text": "— "
},
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"text": "216"
},
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"text": "Other revenues......................................... "
},
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"bbox": [
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"text": "101 "
},
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"text": "68 "
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"text": "— "
},
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"text": "(10) "
},
{
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"text": "159"
},
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"text": "Total revenues"
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"text": "...................................... "
},
{
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"text": "19,756 9,079 "
},
{
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"text": "90 "
},
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"text": "(23) 28,902"
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{
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"ocr": false,
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"text": "Claims and expenses"
},
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"text": "Claims and claim adjustment expenses ... "
},
{
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"text": "11,735 5,732 "
},
{
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"text": "— "
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"text": "— 17,467"
},
{
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"text": "Amortization of deferred acquisition"
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"text": "costs...................................................... "
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"text": "2,820 1,346 "
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"text": "— "
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"text": "— 4,166"
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{
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"text": "General and administrative expenses ...... "
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"ocr": false,
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"text": "2,906 1,249 "
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"text": "25 "
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"text": "(10) 4,170"
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"text": "Interest expense ....................................... "
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"text": "48 "
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"text": "— "
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"text": "321 "
},
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"text": "— "
},
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"text": "369"
},
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"ocr": false,
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"text": "Total claims and expenses"
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"text": "................... "
},
{
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"text": "17,509 8,327 "
},
{
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"text": "346 "
},
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"text": "(10) 26,172"
},
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"text": "Income (loss) before income taxes "
},
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"ocr_confidence": 1,
"text": "..... "
},
{
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"text": "2,247 "
},
{
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"text": "752 "
},
{
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"text": "(256) "
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"text": "(13) 2,730"
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"text": "Income tax expense (benefit)................... "
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{
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"ocr_confidence": 1,
"text": "519 "
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{
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"text": "290 "
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"text": "(130) "
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"text": "674"
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"text": "Net income of subsidiaries ...................... "
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"text": "— "
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"text": "— 2,190 "
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"text": "(2,190) —"
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"text": "Net income "
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"text": "........................................... "
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"text": "$ 1,728 $ 462 $ 2,064 $ "
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"text": "(2,198) $ 2,056"
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"text": "___________________________________________"
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"text": "(1) Total other-than-temporary impairments (OTTI) for the year ended December 31, 2017, and the amounts comprising total OTTI that "
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"text": "(in millions) "
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"text": "TPC"
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"text": "Other"
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"text": "Subsidiaries TRV Eliminations Consolidated"
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"text": "Total OTTI losses ................................... "
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"text": "$ (4) $ "
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"text": "(9)$ — $ — $ "
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"text": "(13)"
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"text": "OTTI losses recognized in net realized"
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"text": "investment gains.................................. "
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"text": "$ (5) $ "
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"text": "(9)$ — $ — $ "
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"text": "(14)"
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"text": "OTTI gains recognized in OCI ............... "
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"text": "$ 1$ —$ —$ —$ 1"
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"label": "section_header",
"text": "18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES (Continued)"
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"text": "CONSOLIDATING STATEMENT OF INCOME (Unaudited)"
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"text": "For the year ended December 31, 2017"
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"text": "Other"
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"text": "(1) Total other-than-temporary impairments (OTTI) for the year ended December 31, 2017, and the amounts comprising total OTTI that were recognized in net realized investment gains and in other comprehensive income (OCI), were as follows:"
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-230 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES (Continued) CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited) For the year ended December 31, 2019 Other 211 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND "
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"text": "SUBSIDIARIES (Continued)"
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"text": "211"
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"text": "CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited)"
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"text": "For the year ended December 31, 2019 "
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"text": "(in millions) "
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"text": "TPC"
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"text": "Other"
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"text": "Subsidiaries TRV Eliminations Consolidated"
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"text": "Net income "
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"text": "............................................. "
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"text": "$ 2,212 $ 577 $ 2,622 $ "
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"text": "(2,789) $ 2,622"
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"text": "Other comprehensive income (loss):"
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"text": "Changes in net unrealized gains on"
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"text": "investment securities:"
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"text": "Having no credit losses recognized in"
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"text": "the consolidated statement of"
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"text": "income............................................... "
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"text": "2,097 "
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"text": "893 "
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"text": "4 "
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"text": "— 2,994"
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"text": "Having credit losses recognized in the"
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"text": "consolidated statement of income..... "
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"text": "(2) "
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"text": "(2)— — "
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"text": "(4)"
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"text": "Net changes in benefit plan assets and"
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"text": "obligations........................................... "
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"text": "1 "
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"text": "(3) "
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"text": "35 "
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"text": "— "
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"text": "Net changes in unrealized foreign"
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"text": "currency translation............................. "
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"text": "53 "
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"text": "64 "
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"text": "— "
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"text": "— "
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"text": "117"
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"text": "Other comprehensive income before"
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"text": "income taxes and other"
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"text": "comprehensive income of"
},
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"text": "subsidiaries"
},
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"ocr_confidence": 1,
"text": "...................................... "
},
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"text": "2,149 "
},
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"text": "952 "
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"text": "39 "
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"text": "— 3,140"
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"text": "Income tax expense................................. "
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"text": "441 "
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"text": "188 "
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"text": "12 "
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"text": "— "
},
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"text": "641"
},
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"text": "Other comprehensive income, net of"
},
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"text": "taxes, before other comprehensive"
},
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"ocr": false,
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"text": "income of subsidiaries"
},
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"text": "..................... "
},
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"text": "1,708 "
},
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"text": "764 "
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"text": "27 "
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"text": "— 2,499"
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"text": "Other comprehensive income of"
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"text": "subsidiaries.......................................... "
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"text": "— "
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"text": "— 2,472 "
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"text": "(2,472) —"
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"text": "Other comprehensive income "
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"text": "............ "
},
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"text": "1,708 "
},
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"text": "764 2,499 "
},
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"text": "(2,472) 2,499"
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"text": "Comprehensive income "
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"text": "...................... "
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"text": "$ 3,920 $ 1,341 $ 5,121 $ "
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"text": "(5,261) $ 5,121"
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"label": "section_header",
"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"label": "section_header",
"text": "18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND"
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"text": "SUBSIDIARIES (Continued)"
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"label": "section_header",
"text": "CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited)"
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"label": "text",
"text": "For the year ended December 31, 2019"
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"text": "Other"
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"html_seq": "<table><tr><td>(in millions)</td><th>TPC</th><td></td><td></td><td></td><th>Subsidiaries TRV Eliminations Consolidated</th></tr><tr><td>Net income .............................................</td><td></td><td>$ 2,212 $ 577 $ 2,622 $</td><td></td><td></td><td>(2,789) $ 2,622</td></tr><tr><td>Other comprehensive income (loss):</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Changes in net unrealized gains on investment securities:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Having no credit losses recognized in the consolidated statement of income...............................................</td><td>2,097</td><td>893</td><td>4</td><td></td><td>- 2,994</td></tr><tr><td>Having credit losses recognized in the consolidated statement of income.....</td><td>(2)</td><td>(2)- -</td><td></td><td></td><td>(4)</td></tr><tr><td>Net changes in benefit plan assets and obligations...........................................</td><td>1</td><td>(3)</td><td>35</td><td>-</td><td>33</td></tr><tr><td>Net changes in unrealized foreign currency translation.............................</td><td>53</td><td>64</td><td>-</td><td>-</td><td>117</td></tr><tr><td>Other comprehensive income before income taxes and other comprehensive income of subsidiaries ......................................</td><td>2,149</td><td>952</td><td>39</td><td></td><td>- 3,140</td></tr><tr><td>Income tax expense.................................</td><td>441</td><td>188</td><td>12</td><td>-</td><td>641</td></tr><tr><td>Other comprehensive income, net of taxes, before other comprehensive income of subsidiaries .....................</td><td>1,708</td><td>764</td><td>27</td><td></td><td>- 2,499</td></tr><tr><td>Other comprehensive income of subsidiaries..........................................</td><td>-</td><td></td><td>- 2,472</td><td>(2,472) -</td><td></td></tr><tr><td>Other comprehensive income ............</td><td>1,708</td><td></td><td>764 2,499</td><td>(2,472) 2,499</td><td></td></tr><tr><td>Comprehensive income ......................</td><td></td><td>$ 3,920 $ 1,341 $ 5,121 $</td><td></td><td></td><td>(5,261) $ 5,121</td></tr></table>",
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-231 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES (Continued) CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited) For the year ended December 31, 2018 Other 212 | [
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"text": "CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited)"
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"text": "For the year ended December 31, 2018 "
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"text": "(in millions) "
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"text": "TPC"
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"text": "Other"
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"text": "Subsidiaries TRV Eliminations Consolidated"
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"text": "Net income "
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"text": "............................................. "
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"text": "$ 2,110 $ 604 $ 2,523 $ "
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"text": "(2,714) $ 2,523"
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"text": "Other comprehensive loss:"
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"text": "Changes in net unrealized gains on"
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"text": "investment securities:"
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"text": "Having no credit losses recognized in"
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"text": "the consolidated statement of"
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"text": "income............................................... "
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"text": "(1,028) "
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"text": "consolidated statement of income..... "
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"text": "(7)— — "
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"text": "Net changes in benefit plan assets and"
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"text": "obligations........................................... "
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"text": "Net changes in unrealized foreign"
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"text": "currency translation............................. "
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"text": "(144) "
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"text": "(247)"
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"text": "Other comprehensive loss before"
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"text": "income taxes and other"
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"text": "comprehensive loss of subsidiaries "
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"text": "(1,191) "
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"text": "(53) — "
},
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"text": "(1,819)"
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"text": "Income tax benefit .................................. "
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"text": "(231) "
},
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"text": "(349)"
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"text": "Other comprehensive loss, net of"
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"text": "taxes, before other comprehensive"
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"text": "loss of subsidiaries"
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"text": "........................... "
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"text": "(960) "
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"text": "(474) "
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"text": "(36) — "
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"text": "(1,470)"
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"text": "Other comprehensive loss of"
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"text": "subsidiaries.......................................... "
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"text": "(1,434) 1,434 "
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"text": ".................. "
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"text": "(960) "
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"text": "(1,470) 1,434 "
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"text": "(1,470)"
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"text": "Comprehensive income "
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"text": "...................... "
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"text": "$ 1,150 $ 130 $ 1,053 $ "
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"text": "(1,280) $ 1,053"
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND"
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"text": "SUBSIDIARIES (Continued)"
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"text": "CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited)"
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"text": "For the year ended December 31, 2018"
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-232 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES (Continued) CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited) For the year ended December 31, 2017 Other 213 | [
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"text": "For the year ended December 31, 2017 "
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"text": "Subsidiaries TRV Eliminations Consolidated"
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"text": "Net income "
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"text": "$ 1,728 $ 462 $ 2,064 $ "
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"text": "Net changes in unrealized foreign"
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"text": "currency translation............................. "
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"text": "108 "
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"text": "before income taxes and other"
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"text": "subsidiaries"
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"text": "Income tax expense................................. "
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"text": "subsidiaries"
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"text": "303 "
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"text": "subsidiaries.......................................... "
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"text": "436 "
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"text": "(436) —"
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"text": "Other comprehensive income "
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"text": "............ "
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"text": "412 "
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"text": "(436) "
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"text": "Comprehensive income "
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"text": "...................... "
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"text": "$ 2,031 $ 595 $ 2,476 $ "
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"text": "(2,634) $ 2,468"
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"label": "section_header",
"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"label": "section_header",
"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"label": "section_header",
"text": "18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND"
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"label": "text",
"text": "SUBSIDIARIES (Continued)"
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"label": "section_header",
"text": "CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (Unaudited)"
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"text": "For the year ended December 31, 2017"
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"label": "text",
"text": "Other"
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"page": 232
} |
e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-233 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES (Continued) CONSOLIDATING BALANCE SHEET (Unaudited) At December 31, 2019 Other 214 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "18. "
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"text": "CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND "
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"text": "SUBSIDIARIES (Continued)"
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"text": "214"
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"text": "CONSOLIDATING BALANCE SHEET (Unaudited)"
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"text": "At December 31, 2019 "
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"text": "(in millions) "
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"text": "TPC"
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"text": "Other"
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"text": "Subsidiaries TRV Eliminations Consolidated"
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"text": "Assets"
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"text": "Fixed maturities, available for sale, at"
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"text": "fair value (amortized cost $65,281) .... "
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"text": "$ 46,805 $ 21,238 $ 91 $ — $ 68,134"
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"text": "Equity securities, at fair value (cost"
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0.27247607800387597
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"text": "$376) ................................................... "
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"text": "102 "
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"text": "114 "
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"text": "209 "
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"text": "— "
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"text": "425"
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"text": "Real estate investments........................... "
},
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"bbox": [
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"text": "1 "
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"text": "962 "
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"text": "— "
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"text": "— "
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"text": "963"
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"text": "Short-term securities............................... 2,793 "
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"text": "760 1,390 "
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"text": "— 4,943"
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"text": "Other investments ................................... 2,690 "
},
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"text": "728 "
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"text": "1 "
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"text": "— 3,419"
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"text": "Total investments"
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"text": "....................................... "
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"text": "52,391 23,802 1,691 "
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{
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0.3269288213370074,
0.9113028683646359,
0.3371425894803779
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"text": "— 77,884"
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"text": "Cash ........................................................ "
},
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"text": "207 "
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"text": "287 "
},
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"text": "— "
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"text": "— "
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"text": "494"
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"text": "Investment income accrued .................... "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "428 "
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"text": "186 "
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"text": "4 "
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"ocr_confidence": 1,
"text": "— "
},
{
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0.9108618533972538,
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"text": "618"
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"text": "Premiums receivable............................... 5,331 2,578 "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
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0.3758674247012274,
0.9110904783512206,
0.3860812717013889
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"ocr_confidence": 1,
"text": "— 7,909"
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{
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"ocr": false,
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"text": "Reinsurance recoverables ....................... "
},
{
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"text": "6,511 1,724 "
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"text": "— "
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"ocr_confidence": 1,
"text": "— 8,235"
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{
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0.42336480192435805
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"text": "Ceded unearned premiums ..................... "
},
{
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"ocr_confidence": 1,
"text": "603 "
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{
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"text": "86 "
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{
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"ocr_confidence": 1,
"text": "— "
},
{
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"ocr_confidence": 1,
"text": "— "
},
{
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0.9110902728456439,
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"ocr": false,
"ocr_confidence": 1,
"text": "689"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "Deferred acquisition costs....................... "
},
{
"bbox": [
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"text": "2,094 "
},
{
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"text": "179 "
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{
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"ocr_confidence": 1,
"text": "— "
},
{
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0.9106493606310501,
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"ocr": false,
"ocr_confidence": 1,
"text": "— 2,273"
},
{
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0.4496450498122577,
0.34840531782670453,
0.4584427471308745
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"ocr": false,
"ocr_confidence": 1,
"text": "Contractholder receivables ..................... "
},
{
"bbox": [
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0.4605137475010522,
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"ocr_confidence": 1,
"text": "4,606 "
},
{
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"text": "13 "
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"ocr_confidence": 1,
"text": "— "
},
{
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0.4507980543821665,
0.9110901700928556,
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"ocr": false,
"ocr_confidence": 1,
"text": "— 4,619"
},
{
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"text": "Goodwill ................................................. "
},
{
"bbox": [
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"ocr_confidence": 1,
"text": "2,584 1,386 "
},
{
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0.6844138713798138,
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"ocr_confidence": 1,
"text": "— "
},
{
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"ocr_confidence": 1,
"text": "(9) 3,961"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "Other intangible assets............................ "
},
{
"bbox": [
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"text": "218 "
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{
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"text": "112 "
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"text": "— "
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"text": "— "
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"text": "330"
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"ocr_confidence": 1,
"text": "Investment in subsidiaries....................... "
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"text": "— "
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"ocr_confidence": 1,
"text": "— 30,028 "
},
{
"bbox": [
0.7494396376690078,
0.5072184717932413,
0.9097841821535669,
0.5179837249046149
],
"ocr": false,
"ocr_confidence": 1,
"text": "(30,028) —"
},
{
"bbox": [
0.08489225368307095,
0.524889056380713,
0.3484219637784091,
0.5335989860909238
],
"ocr": false,
"ocr_confidence": 1,
"text": "Other assets............................................. "
},
{
"bbox": [
0.4248004746356797,
0.5259918686031371,
0.4604161323521675,
0.5363435572740027
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,360 "
},
{
"bbox": [
0.5494144324100378,
0.5261297102738413,
0.5730765500052609,
0.5348396794124475
],
"ocr": false,
"ocr_confidence": 1,
"text": "419 "
},
{
"bbox": [
0.6626137884377631,
0.5260795967831476,
0.6846591936618792,
0.5346391465928819
],
"ocr": false,
"ocr_confidence": 1,
"text": "331 "
},
{
"bbox": [
0.7846802990845959,
0.5260795967831476,
0.9111232564906881,
0.5363435572740027
],
"ocr": false,
"ocr_confidence": 1,
"text": "— 3,110"
},
{
"bbox": [
0.09460855734468711,
0.543562186780826,
0.17421713421240398,
0.5522094647705709
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total assets"
},
{
"bbox": [
0.17923044275354455,
0.5509938084801962,
0.3484252261794376,
0.5523723434724241
],
"ocr": false,
"ocr_confidence": 1,
"text": ".......................................... "
},
{
"bbox": [
0.36599626123704493,
0.5442514345627423,
0.7107708349773779,
0.5551420305434431
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 77,333 $ 30,772 $ 32,054 $ "
},
{
"bbox": [
0.7494565918790772,
0.5442514345627423,
0.9113355437513152,
0.5555806320151001
],
"ocr": false,
"ocr_confidence": 1,
"text": "(30,037) $ 110,122"
},
{
"bbox": [
0.08469622705119226,
0.5621726260320776,
0.15385362515947232,
0.5709953603818435
],
"ocr": false,
"ocr_confidence": 1,
"text": "Liabilities"
},
{
"bbox": [
0.08481053952817563,
0.579981012861858,
0.33077250265513203,
0.5913102103142159
],
"ocr": false,
"ocr_confidence": 1,
"text": "Claims and claim adjustment expense"
},
{
"bbox": [
0.09916457744559856,
0.5953330895081355,
0.3484219124020149,
0.6012483345445736
],
"ocr": false,
"ocr_confidence": 1,
"text": "reserves................................................ "
},
{
"bbox": [
0.3659962098606508,
0.5931273862064963,
0.9111067132917718,
0.6040179821871972
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 35,568 $ 16,281 $ — $ — $ 51,849"
},
{
"bbox": [
0.08463087627783368,
0.6113493769051801,
0.3484219124020149,
0.6226284214384488
],
"ocr": false,
"ocr_confidence": 1,
"text": "Unearned premium reserves ................... "
},
{
"bbox": [
0.417958115086411,
0.612464766785772,
0.5730927849458123,
0.6228164554566376
],
"ocr": false,
"ocr_confidence": 1,
"text": "10,144 4,460 "
},
{
"bbox": [
0.6720034409853746,
0.6179037956612363,
0.6844305687079124,
0.6185178534929142
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.7846801963318076,
0.612464766785772,
0.9113027656118476,
0.6228164554566376
],
"ocr": false,
"ocr_confidence": 1,
"text": "— 14,604"
},
{
"bbox": [
0.08481048172973221,
0.6301102354853036,
0.3484218610256208,
0.6414394329376615
],
"ocr": false,
"ocr_confidence": 1,
"text": "Contractholder payables ......................... "
},
{
"bbox": [
0.4244900841504235,
0.6312632006268168,
0.4605302906999684,
0.6416148892976825
],
"ocr": false,
"ocr_confidence": 1,
"text": "4,606 "
},
{
"bbox": [
0.559212321785564,
0.6313509288068273,
0.5726355864142729,
0.6399104786165617
],
"ocr": false,
"ocr_confidence": 1,
"text": "13 "
},
{
"bbox": [
0.6720034409853746,
0.6367022295022812,
0.6844305687079124,
0.6373162873339592
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.7846801963318076,
0.6312632006268168,
0.9111068160445602,
0.6416148892976825
],
"ocr": false,
"ocr_confidence": 1,
"text": "— 4,619"
},
{
"bbox": [
0.08466351313221736,
0.6489086693263485,
0.3484218610256208,
0.6602378667787064
],
"ocr": false,
"ocr_confidence": 1,
"text": "Payables for reinsurance premiums........ "
},
{
"bbox": [
0.4370477849786932,
0.6501869773371891,
0.4604159782229851,
0.6587340283455466
],
"ocr": false,
"ocr_confidence": 1,
"text": "210 "
},
{
"bbox": [
0.551047328345302,
0.6500240592069404,
0.5726355350378788,
0.6587590653766957
],
"ocr": false,
"ocr_confidence": 1,
"text": "153 "
},
{
"bbox": [
0.6720033896089804,
0.6555007027717216,
0.6844305173315183,
0.6561147606033996
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.7846801449554135,
0.6555007027717216,
0.7971072726779513,
0.6561147606033996
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.8879671963778409,
0.6500616738962572,
0.910665801077178,
0.6587590653766957
],
"ocr": false,
"ocr_confidence": 1,
"text": "363"
},
{
"bbox": [
0.08466351313221736,
0.6677447178567103,
0.3484218610256208,
0.6764421487655442
],
"ocr": false,
"ocr_confidence": 1,
"text": "Deferred taxes......................................... "
},
{
"bbox": [
0.4370477849786932,
0.668985411178234,
0.4606282654836122,
0.6775324621865916
],
"ocr": false,
"ocr_confidence": 1,
"text": "272 "
},
{
"bbox": [
0.5445153335930923,
0.668897722426619,
0.5783836801445444,
0.6796504175940226
],
"ocr": false,
"ocr_confidence": 1,
"text": "(170) "
},
{
"bbox": [
0.6707786791252367,
0.6688224930479854,
0.6853776411576704,
0.6775575189319384
],
"ocr": false,
"ocr_confidence": 1,
"text": "35 "
},
{
"bbox": [
0.7846801449554135,
0.6742991168985687,
0.7971072726779513,
0.6749131944444444
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.8890776457609953,
0.6689478359173127,
0.9109271014178241,
0.6775324621865916
],
"ocr": false,
"ocr_confidence": 1,
"text": "137"
},
{
"bbox": [
0.08466351313221736,
0.6865557096417252,
0.3484283858276778,
0.6952406023207869
],
"ocr": false,
"ocr_confidence": 1,
"text": "Debt......................................................... "
},
{
"bbox": [
0.43711313575205174,
0.6876585612925448,
0.4599587796914457,
0.6965063523876575
],
"ocr": false,
"ocr_confidence": 1,
"text": "693 "
},
{
"bbox": [
0.5593266342625474,
0.6876209663174258,
0.6853776411576704,
0.6980102302492127
],
"ocr": false,
"ocr_confidence": 1,
"text": "— 5,865 "
},
{
"bbox": [
0.7846801449554135,
0.6876209663174258,
0.9107965026238952,
0.6980102302492127
],
"ocr": false,
"ocr_confidence": 1,
"text": "— 6,558"
},
{
"bbox": [
0.08489206744364215,
0.7053040299920764,
0.3484217839610296,
0.7140641126213764
],
"ocr": false,
"ocr_confidence": 1,
"text": "Other liabilities ....................................... "
},
{
"bbox": [
0.4244900070858323,
0.7064570148477874,
0.5732069946700074,
0.7168086838044554
],
"ocr": false,
"ocr_confidence": 1,
"text": "4,609 1,236 "
},
{
"bbox": [
0.6624012956715594,
0.706582338002917,
0.6859491521661932,
0.7151293692970768
],
"ocr": false,
"ocr_confidence": 1,
"text": "204 "
},
{
"bbox": [
0.7846800935790194,
0.7064570148477874,
0.9111067132917718,
0.7168086838044554
],
"ocr": false,
"ocr_confidence": 1,
"text": "— 6,049"
},
{
"bbox": [
0.09460837110525831,
0.7238392990072876,
0.19783007175432712,
0.7326745715868257
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total liabilities"
},
{
"bbox": [
0.19964273369272148,
0.7314589350106488,
0.34842504636205807,
0.7328374897170744
],
"ocr": false,
"ocr_confidence": 1,
"text": "..................................... "
},
{
"bbox": [
0.41666795107652044,
0.7252178537137133,
0.685949100789799,
0.7356071176455002
],
"ocr": false,
"ocr_confidence": 1,
"text": "56,102 21,973 6,104 "
},
{
"bbox": [
0.7846800422026252,
0.7253932903595365,
0.9111066105389836,
0.7356071176455002
],
"ocr": false,
"ocr_confidence": 1,
"text": "— 84,179"
},
{
"bbox": [
0.08497358893705939,
0.7426001575874112,
0.22819066930700233,
0.7538666836051053
],
"ocr": false,
"ocr_confidence": 1,
"text": "Shareholders’ equity"
},
{
"bbox": [
0.08481028906825415,
0.7604336208767362,
0.28648535731665614,
0.7712615257085755
],
"ocr": false,
"ocr_confidence": 1,
"text": "Common stock (1,750.0 shares"
},
{
"bbox": [
0.09970322040596394,
0.7729659363896964,
0.3307069720643939,
0.7833552003214833
],
"ocr": false,
"ocr_confidence": 1,
"text": "authorized; 255.5 shares issued and"
},
{
"bbox": [
0.0995072644166272,
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0.3484249436092698,
0.7968274296408168
],
"ocr": false,
"ocr_confidence": 1,
"text": "outstanding)......................................... "
},
{
"bbox": [
0.4466496734105377,
0.7921027447210109,
0.45907680113307553,
0.7927168222668867
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.549757061582623,
0.7866261405846253,
0.6857529970933292,
0.7970154045164123
],
"ocr": false,
"ocr_confidence": 1,
"text": "585 23,469 "
},
{
"bbox": [
0.7698686387803819,
0.7865634888641594,
0.9111065077861953,
0.7974540454164648
],
"ocr": false,
"ocr_confidence": 1,
"text": "(585) 23,469"
},
{
"bbox": [
0.08464686718051281,
0.8043092042592761,
0.34842805188111586,
0.8156258831960594
],
"ocr": false,
"ocr_confidence": 1,
"text": "Additional paid-in capital ....................... "
},
{
"bbox": [
0.417957781139849,
0.8054621891149871,
0.5726352267795138,
0.815813858071655
],
"ocr": false,
"ocr_confidence": 1,
"text": "11,634 7,073 "
},
{
"bbox": [
0.6720030813506155,
0.8109011982762536,
0.6844302090731534,
0.8115152758221293
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.7494560781151357,
0.8054997840901061,
0.9097841821535669,
0.8162524595433119
],
"ocr": false,
"ocr_confidence": 1,
"text": "(18,707) —"
},
{
"bbox": [
0.08458198521675084,
0.8231453513606266,
0.3484219894666062,
0.8344244353222908
],
"ocr": false,
"ocr_confidence": 1,
"text": "Retained earnings.................................... "
},
{
"bbox": [
0.4251760617651121,
0.8242231462660994,
0.45930568296901303,
0.8346124101978863
],
"ocr": false,
"ocr_confidence": 1,
"text": "8,451 "
},
{
"bbox": [
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0.8242607412412185,
0.6859493062953756,
0.8346124101978863
],
"ocr": false,
"ocr_confidence": 1,
"text": "823 36,984 "
},
{
"bbox": [
0.7576215339429451,
0.8242607412412185,
0.9109272041706123,
0.8350510510979389
],
"ocr": false,
"ocr_confidence": 1,
"text": "(9,281) 36,977"
},
{
"bbox": [
0.08464723965937039,
0.8419062197978491,
0.3116827813864557,
0.8532228790204346
],
"ocr": false,
"ocr_confidence": 1,
"text": "Accumulated other comprehensive"
},
{
"bbox": [
0.0994258585200968,
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0.34842843720407196,
0.8632111265985849
],
"ocr": false,
"ocr_confidence": 1,
"text": "income................................................. "
},
{
"bbox": [
0.4261231342148701,
0.8555914905952237,
0.46053034207636256,
0.8659431694089904
],
"ocr": false,
"ocr_confidence": 1,
"text": "1,146 "
},
{
"bbox": [
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0.8556792089181353,
0.5727662365845959,
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],
"ocr": false,
"ocr_confidence": 1,
"text": "318 "
},
{
"bbox": [
0.6624667491977062,
0.8555914905952237,
0.6857695916686395,
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],
"ocr": false,
"ocr_confidence": 1,
"text": "640 "
},
{
"bbox": [
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0.8037372422138047,
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],
"ocr": false,
"ocr_confidence": 1,
"text": "(1,464) "
},
{
"bbox": [
0.8878201571377841,
0.8555914905952237,
0.9111230509851115,
0.86428890178986
],
"ocr": false,
"ocr_confidence": 1,
"text": "640"
},
{
"bbox": [
0.0846308505896366,
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0.3484283858276778,
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],
"ocr": false,
"ocr_confidence": 1,
"text": "Treasury stock, at cost (522.1 shares)..... "
},
{
"bbox": [
0.4466498275397201,
0.8798289533117328,
0.5717537106086911,
0.8804430407147075
],
"ocr": false,
"ocr_confidence": 1,
"text": "— — "
},
{
"bbox": [
0.6367796310270676,
0.8742896678835846,
0.7971072213015572,
0.8851802540071867
],
"ocr": false,
"ocr_confidence": 1,
"text": "(35,143) — "
},
{
"bbox": [
0.8621331930963279,
0.8742896678835846,
0.9164139975602378,
0.8851802540071867
],
"ocr": false,
"ocr_confidence": 1,
"text": "(35,143)"
},
{
"bbox": [
0.09460837110525831,
0.8917722381670654,
0.2750414196489636,
0.9030011790667394
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total shareholders’ equity"
},
{
"bbox": [
0.27721006862242215,
0.8993918741704265,
0.34842504636205807,
0.9007704190197533
],
"ocr": false,
"ocr_confidence": 1,
"text": ".................. "
},
{
"bbox": [
0.41663530137803817,
0.8931507830163922,
0.6857694375394571,
0.9035400666623769
],
"ocr": false,
"ocr_confidence": 1,
"text": "21,231 8,799 25,950 "
},
{
"bbox": [
0.7494563349971065,
0.8931507830163922,
0.9106656983243897,
0.9039786977053305
],
"ocr": false,
"ocr_confidence": 1,
"text": "(30,037) 25,943"
},
{
"bbox": [
0.09460830688476562,
0.910570691722308,
0.32582752471821075,
0.9194059593732967
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total liabilities and shareholders’"
},
{
"bbox": [
0.10925629484131681,
0.9231029825925211,
0.1521224461821996,
0.9343319234921951
],
"ocr": false,
"ocr_confidence": 1,
"text": "equity"
},
{
"bbox": [
0.15473525692718199,
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0.3484249949856639,
0.9321011733023079
],
"ocr": false,
"ocr_confidence": 1,
"text": "................................................ "
},
{
"bbox": [
0.36599603004327125,
0.9227270131271322,
0.7107705780954072,
0.9336175795365366
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 77,333 $ 30,772 $ 32,054 $ "
},
{
"bbox": [
0.7494563349971065,
0.9227270131271322,
0.9113352354929504,
0.9340562105794902
],
"ocr": false,
"ocr_confidence": 1,
"text": "(30,037) $ 110,122"
}
] | [
{
"bbox": [
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],
"data": [],
"index_in_doc": 2961,
"label": "section_header",
"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
},
{
"bbox": [
0.2410513881079677,
0.06586269013949451,
0.7575229940189657,
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"data": [],
"index_in_doc": 2962,
"label": "section_header",
"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
},
{
"bbox": [
0.08162024526885062,
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0.8497244067465015,
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"data": [],
"index_in_doc": 2963,
"label": "section_header",
"text": "18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES (Continued)"
},
{
"bbox": [
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"data": [],
"index_in_doc": 2964,
"label": "section_header",
"text": "CONSOLIDATING BALANCE SHEET (Unaudited)"
},
{
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0.4239716449570576,
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0.5750453448054766,
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],
"data": [],
"index_in_doc": 2965,
"label": "text",
"text": "At December 31, 2019"
},
{
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"index_in_doc": 2966,
"label": "text",
"text": "Other"
},
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"bbox": [
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"html_seq": "<table><tr><td>(in millions)</td><th>TPC</th><td></td><td></td><th>Subsidiaries TRV Eliminations Consolidated</th></tr><tr><td>Assets</td><td></td><td></td><td></td><td></td></tr><tr><td>Fixed maturities, available for sale, at fair value (amortized cost $65,281) ....</td><td></td><td></td><td></td><td>$ 46,805 $ 21,238 $ 91 $ - $ 68,134</td></tr><tr><td>Equity securities, at fair value (cost $376) ...................................................</td><td>102</td><td>114</td><td>209</td><td>- 425</td></tr><tr><td>Real estate investments...........................</td><td>1</td><td>962</td><td>-</td><td>- 963</td></tr><tr><td>Short-term securities............................... 2,793</td><td></td><td></td><td>760 1,390</td><td>- 4,943</td></tr><tr><td>Other investments ................................... 2,690</td><td></td><td>728</td><td>1</td><td>- 3,419</td></tr><tr><td>Total investments .......................................</td><td>52,391 23,802 1,691</td><td></td><td></td><td>- 77,884</td></tr><tr><td>Cash ........................................................</td><td>207</td><td>287</td><td>-</td><td>- 494</td></tr><tr><td>Investment income accrued ....................</td><td>428</td><td>186</td><td>4</td><td>- 618</td></tr><tr><td>Premiums receivable............................... 5,331 2,578</td><td></td><td></td><td>-</td><td>- 7,909</td></tr><tr><td>Reinsurance recoverables .......................</td><td></td><td>6,511 1,724</td><td>-</td><td>- 8,235</td></tr><tr><td>Ceded unearned premiums .....................</td><td>603</td><td>86</td><td>-</td><td>- 689</td></tr><tr><td>Deferred acquisition costs.......................</td><td>2,094</td><td>179</td><td>-</td><td>- 2,273</td></tr><tr><td>Contractholder receivables .....................</td><td>4,606</td><td>13</td><td>-</td><td>- 4,619</td></tr><tr><td>Goodwill .................................................</td><td></td><td>2,584 1,386</td><td>-</td><td>(9) 3,961</td></tr><tr><td>Other intangible assets............................</td><td>218</td><td>112</td><td>-</td><td>- 330</td></tr><tr><td>Investment in subsidiaries.......................</td><td>-</td><td></td><td>- 30,028</td><td>(30,028) -</td></tr><tr><td>Other assets.............................................</td><td>2,360</td><td>419</td><td>331</td><td>- 3,110</td></tr><tr><td>Total assets ..........................................</td><td>$ 77,333 $ 30,772 $ 32,054 $</td><td></td><td></td><td>(30,037) $ 110,122</td></tr><tr><td>Liabilities</td><td></td><td></td><td></td><td></td></tr><tr><td>Claims and claim adjustment expense reserves................................................</td><td>$ 35,568 $ 16,281 $ - $ - $ 51,849</td><td></td><td></td><td></td></tr><tr><td>Unearned premium reserves ...................</td><td></td><td>10,144 4,460</td><td>-</td><td>- 14,604</td></tr><tr><td>Contractholder payables .........................</td><td>4,606</td><td>13</td><td>-</td><td>- 4,619</td></tr><tr><td>Payables for reinsurance premiums........</td><td>210</td><td>153</td><td>-</td><td>- 363</td></tr><tr><td>Deferred taxes.........................................</td><td>272</td><td>(170)</td><td>35</td><td>- 137</td></tr><tr><td>Debt.........................................................</td><td>693</td><td></td><td>- 5,865</td><td>- 6,558</td></tr><tr><td>Other liabilities .......................................</td><td></td><td>4,609 1,236</td><td>204</td><td>- 6,049</td></tr><tr><td>Total liabilities .....................................</td><td></td><td>56,102 21,973 6,104</td><td></td><td>- 84,179</td></tr><tr><td>Shareholders' equity</td><td></td><td></td><td></td><td></td></tr><tr><td>Common stock (1,750.0 shares authorized; 255.5 shares issued and outstanding).........................................</td><td>-</td><td></td><td>585 23,469</td><td>(585) 23,469</td></tr><tr><td>Additional paid-in capital .......................</td><td>11,634 7,073</td><td></td><td>-</td><td>(18,707) -</td></tr><tr><td>Retained earnings....................................</td><td>8,451</td><td></td><td>823 36,984</td><td>(9,281) 36,977</td></tr><tr><td>Accumulated other comprehensive income.................................................</td><td>1,146</td><td>318</td><td>640</td><td>(1,464) 640</td></tr><tr><td>Treasury stock, at cost (522.1 shares).....</td><td></td><td>- -</td><td>(35,143) -</td><td>(35,143)</td></tr><tr><td>Total shareholders' equity ..................</td><td></td><td></td><td>21,231 8,799 25,950</td><td>(30,037) 25,943</td></tr><tr><td>Total liabilities and shareholders' equity ................................................</td><td></td><td></td><td>$ 77,333 $ 30,772 $ 32,054 $</td><td>(30,037) $ 110,122</td></tr></table>",
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-234 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES (Continued) CONSOLIDATING BALANCE SHEET (Unaudited) At December 31, 2018 Other 215 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND "
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"text": "SUBSIDIARIES (Continued)"
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"text": "CONSOLIDATING BALANCE SHEET (Unaudited)"
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"text": "At December 31, 2018 "
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"text": "(in millions) "
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"text": "TPC"
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"text": "Other"
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"text": "Subsidiaries TRV Eliminations Consolidated"
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"text": "Assets"
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"text": "Fixed maturities, available for sale, at"
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"text": "fair value (amortized cost $63,601) .... "
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"text": "$ 43,683 $ 19,697 $ 84 $ — $ 63,464"
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"text": "Equity securities, at fair value (cost"
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"text": "$382) ................................................... "
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"text": "105 "
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"text": "92 "
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"text": "171 "
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"text": "— "
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"text": "368"
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"text": "Real estate investments........................... "
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"text": "2 "
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"text": "902 "
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"text": "— "
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"text": "— "
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"text": "904"
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"text": "Short-term securities............................... "
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"text": "1,855 "
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"text": "759 1,371 "
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"text": "— 3,985"
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"text": "Other investments ................................... 2,746 "
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"text": "810 "
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"text": "1 "
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"text": "— 3,557"
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"text": "Total investments................................ 48,391 22,260 1,627 "
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"text": "— 72,278"
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"text": "Cash ........................................................ "
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"text": "181 "
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"text": "192 "
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"text": "— "
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"text": "— "
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"text": "373"
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"text": "Investment income accrued .................... "
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"text": "434 "
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"text": "187 "
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"text": "3 "
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"text": "— "
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"text": "624"
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"text": "Premiums receivable............................... 5,089 2,417 "
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"text": "— "
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"text": "— 7,506"
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"text": "Reinsurance recoverables ....................... 5,904 2,466 "
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"text": "— "
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"text": "— 8,370"
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"text": "Ceded unearned premiums ..................... "
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"text": "522 "
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"text": "56 "
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"text": "— "
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"text": "— "
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"text": "578"
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"text": "Deferred acquisition costs....................... "
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"text": "1,930 "
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"text": "190 "
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"text": "— "
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0.9111069187973485,
0.4423513880687783
],
"ocr": false,
"ocr_confidence": 1,
"text": "— 2,120"
},
{
"bbox": [
0.08464725250346894,
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0.3484056260850694,
0.4583801742671996
],
"ocr": false,
"ocr_confidence": 1,
"text": "Deferred taxes......................................... "
},
{
"bbox": [
0.4383542866819234,
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0.46020379371514625,
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],
"ocr": false,
"ocr_confidence": 1,
"text": "167 "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "302 "
},
{
"bbox": [
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0.6910442005504261,
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],
"ocr": false,
"ocr_confidence": 1,
"text": "(24) "
},
{
"bbox": [
0.7846639100148621,
0.45623716211442183,
0.7970910377374001,
0.4568512199460998
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.8874283607559975,
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0.9107149169099853,
0.459495524719396
],
"ocr": false,
"ocr_confidence": 1,
"text": "445"
},
{
"bbox": [
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0.46844360193848916,
0.3484056260850694,
0.47724129925710596
],
"ocr": false,
"ocr_confidence": 1,
"text": "Contractholder receivables ..................... "
},
{
"bbox": [
0.42499637282657304,
0.4695966065083979,
0.46020379371514625,
0.4799482951792636
],
"ocr": false,
"ocr_confidence": 1,
"text": "3,867 "
},
{
"bbox": [
0.5497083053845749,
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0.5727498988912563,
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],
"ocr": false,
"ocr_confidence": 1,
"text": "918 "
},
{
"bbox": [
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0.6844142310145728,
0.47564969321554024
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.7846639100148621,
0.46955899181908106,
0.9107149169099853,
0.4799482951792636
],
"ocr": false,
"ocr_confidence": 1,
"text": "— 4,785"
},
{
"bbox": [
0.08477782560920073,
0.48724203577953407,
0.3484120481343382,
0.4960146566386063
],
"ocr": false,
"ocr_confidence": 1,
"text": "Goodwill ................................................. "
},
{
"bbox": [
0.42478403418955174,
0.48835742566012597,
0.5727498475148621,
0.4987467290203085
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,578 1,368 "
},
{
"bbox": [
0.6719870519156408,
0.49383406922490714,
0.6844141796381786,
0.4944481270565851
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.7861824934731428,
0.4884326550387597,
0.9109107637244844,
0.49918533049196545
],
"ocr": false,
"ocr_confidence": 1,
"text": "(9) 3,937"
},
{
"bbox": [
0.08487568479595763,
0.5060405090489745,
0.3484053948912958,
0.5173571682715601
],
"ocr": false,
"ocr_confidence": 1,
"text": "Other intangible assets............................ "
},
{
"bbox": [
0.43703134453256526,
0.5073188170598151,
0.46057920102719907,
0.5157656016583898
],
"ocr": false,
"ocr_confidence": 1,
"text": "224 "
},
{
"bbox": [
0.551030887899174,
0.5073188170598151,
0.5719658951165298,
0.5157656016583898
],
"ocr": false,
"ocr_confidence": 1,
"text": "121 "
},
{
"bbox": [
0.6719868977864584,
0.5126325424943475,
0.6844140255089962,
0.5132466003260255
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.7846637045092856,
0.5126325424943475,
0.7970908322318234,
0.5132466003260255
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.8879507559317129,
0.5071558989295664,
0.9107147114044086,
0.5158909050993217
],
"ocr": false,
"ocr_confidence": 1,
"text": "345"
},
{
"bbox": [
0.08464706626404014,
0.5248765970077317,
0.3484053948912958,
0.5335739884881702
],
"ocr": false,
"ocr_confidence": 1,
"text": "Investment in subsidiaries....................... "
},
{
"bbox": [
0.4466333870935922,
0.5314309763353925,
0.45906051481613,
0.5320450341670704
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.5593101424400253,
0.5259919474599282,
0.6852958499381839,
0.5363436361307937
],
"ocr": false,
"ocr_confidence": 1,
"text": "— 26,993 "
},
{
"bbox": [
0.7494399973037669,
0.5259292957394622,
0.9097841821535669,
0.5367822770308462
],
"ocr": false,
"ocr_confidence": 1,
"text": "(26,993) —"
},
{
"bbox": [
0.08489225368307095,
0.5436876085069444,
0.3484219637784091,
0.5523975382171552
],
"ocr": false,
"ocr_confidence": 1,
"text": "Other assets............................................. "
},
{
"bbox": [
0.4248004746356797,
0.5449157241703004,
0.4604161323521675,
0.5551421094002341
],
"ocr": false,
"ocr_confidence": 1,
"text": "2,220 "
},
{
"bbox": [
0.5592124759147464,
0.5447528060400517,
0.5727010399404199,
0.553487812209807
],
"ocr": false,
"ocr_confidence": 1,
"text": "15 "
},
{
"bbox": [
0.6624668519504945,
0.5447904207293686,
0.6857533567280881,
0.553638231538679
],
"ocr": false,
"ocr_confidence": 1,
"text": "669 "
},
{
"bbox": [
0.778033991855403,
0.5448154971889131,
0.9113355437513152,
0.5555807108718912
],
"ocr": false,
"ocr_confidence": 1,
"text": "(32) 2,872"
},
{
"bbox": [
0.09460855734468711,
0.5619220585786096,
0.7107708863537721,
0.5728126545593104
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total assets.......................................... $ 71,507 $ 30,492 $ 29,268 $ "
},
{
"bbox": [
0.7494565918790772,
0.5619220585786096,
0.9106660065827547,
0.5732512560309674
],
"ocr": false,
"ocr_confidence": 1,
"text": "(27,034) $ 104,233"
},
{
"bbox": [
0.08469622705119226,
0.5784647150557171,
0.15385362515947232,
0.5872874494054828
],
"ocr": false,
"ocr_confidence": 1,
"text": "Liabilities"
},
{
"bbox": [
0.08481060374866832,
0.596273141313893,
0.3307725540315262,
0.6076023387662508
],
"ocr": false,
"ocr_confidence": 1,
"text": "Claims and claim adjustment expense"
},
{
"bbox": [
0.09916464166609125,
0.6116252179601703,
0.3484219637784091,
0.6175404629966085
],
"ocr": false,
"ocr_confidence": 1,
"text": "reserves................................................ "
},
{
"bbox": [
0.36599626123704493,
0.6094195146585312,
0.9107966053766835,
0.620310110639232
],
"ocr": false,
"ocr_confidence": 1,
"text": "$ 34,093 $ 16,575 $ — $ — $ 50,668"
},
{
"bbox": [
0.08463094049832637,
0.627641505357215,
0.3484219637784091,
0.6389205498904836
],
"ocr": false,
"ocr_confidence": 1,
"text": "Unearned premium reserves ................... "
},
{
"bbox": [
0.42480044894748265,
0.6288946974801155,
0.5719824383154462,
0.639108544480277
],
"ocr": false,
"ocr_confidence": 1,
"text": "9,414 4,141 "
},
{
"bbox": [
0.6720034923617687,
0.6341958846848756,
0.6844306200843067,
0.6348099425165536
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.7846802990845959,
0.6287192411200945,
0.9107313573561132,
0.639108544480277
],
"ocr": false,
"ocr_confidence": 1,
"text": "— 13,555"
},
{
"bbox": [
0.08481053952817563,
0.646402324508943,
0.348421938090212,
0.6577315219613009
],
"ocr": false,
"ocr_confidence": 1,
"text": "Contractholder payables ......................... "
},
{
"bbox": [
0.4250126848317156,
0.6475553290788517,
0.46022008003209175,
0.6579070177497174
],
"ocr": false,
"ocr_confidence": 1,
"text": "3,867 "
},
{
"bbox": [
0.5497246430779146,
0.6476931707495559,
0.5727662365845959,
0.6564031398881621
],
"ocr": false,
"ocr_confidence": 1,
"text": "918 "
},
{
"bbox": [
0.6720034409853746,
0.652994357954316,
0.6844305687079124,
0.653608415785994
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.7846801963318076,
0.6475177143895349,
0.9107312546033249,
0.6579070177497174
],
"ocr": false,
"ocr_confidence": 1,
"text": "— 4,785"
},
{
"bbox": [
0.08466351313221736,
0.6652007977783834,
0.3484218610256208,
0.6765299952307413
],
"ocr": false,
"ocr_confidence": 1,
"text": "Payables for reinsurance premiums........ "
},
{
"bbox": [
0.43837052162247475,
0.6663537629198967,
0.46039964052964544,
0.6752015540150093
],
"ocr": false,
"ocr_confidence": 1,
"text": "169 "
},
{
"bbox": [
0.551047328345302,
0.6664790663608285,
0.5730927849458123,
0.675026117369186
],
"ocr": false,
"ocr_confidence": 1,
"text": "120 "
},
{
"bbox": [
0.6720033896089804,
0.6717927720811632,
0.6844305173315183,
0.6724068496270389
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.7846801449554135,
0.6717927720811632,
0.7971072726779513,
0.6724068496270389
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.8877549091172138,
0.6664790663608285,
0.9111067132917718,
0.6752015540150093
],
"ocr": false,
"ocr_confidence": 1,
"text": "289"
},
{
"bbox": [
0.08466351313221736,
0.6840493648243197,
0.3484283858276778,
0.6927342575033814
],
"ocr": false,
"ocr_confidence": 1,
"text": "Debt......................................................... "
},
{
"bbox": [
0.43711313575205174,
0.6851522361893371,
0.4599587796914457,
0.6940000272844496
],
"ocr": false,
"ocr_confidence": 1,
"text": "693 "
},
{
"bbox": [
0.5581019237788036,
0.685114641214218,
0.6846591422854851,
0.6955039051460049
],
"ocr": false,
"ocr_confidence": 1,
"text": "32 5,871 "
},
{
"bbox": [
0.7780338891026147,
0.685114641214218,
0.9113027656118476,
0.6959425460460574
],
"ocr": false,
"ocr_confidence": 1,
"text": "(32) 6,564"
},
{
"bbox": [
0.08489206744364215,
0.7027976851746709,
0.3484217839610296,
0.7115577678039708
],
"ocr": false,
"ocr_confidence": 1,
"text": "Other liabilities ....................................... "
},
{
"bbox": [
0.4244900070858323,
0.7040383982103925,
0.4599586769386574,
0.7143023389870499
],
"ocr": false,
"ocr_confidence": 1,
"text": "4,133 "
},
{
"bbox": [
0.5501001017663615,
0.7040885117010861,
0.5730763444996844,
0.7127984611254946
],
"ocr": false,
"ocr_confidence": 1,
"text": "849 "
},
{
"bbox": [
0.6620910336272885,
0.7039506700303819,
0.6858838013928346,
0.7127984611254946
],
"ocr": false,
"ocr_confidence": 1,
"text": "496 "
},
{
"bbox": [
0.7846800935790194,
0.7039130750552628,
0.9107963998711069,
0.7143023389870499
],
"ocr": false,
"ocr_confidence": 1,
"text": "— 5,478"
},
{
"bbox": [
0.09460837110525831,
0.7213329739040799,
0.19783007175432712,
0.730168246483618
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total liabilities"
},
{
"bbox": [
0.19964273369272148,
0.728952609907441,
0.34842504636205807,
0.7303311646138667
],
"ocr": false,
"ocr_confidence": 1,
"text": "..................................... "
},
{
"bbox": [
0.41666795107652044,
0.7227115286105055,
0.6855734879721697,
0.7331007925422924
],
"ocr": false,
"ocr_confidence": 1,
"text": "52,369 22,635 6,367 "
},
{
"bbox": [
0.7780337863498263,
0.7227741803309714,
0.9111066105389836,
0.733539433442345
],
"ocr": false,
"ocr_confidence": 1,
"text": "(32) 81,339"
},
{
"bbox": [
0.08497358893705939,
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0.22819066930700233,
0.7513603585018976
],
"ocr": false,
"ocr_confidence": 1,
"text": "Shareholders’ equity"
},
{
"bbox": [
0.23230255332458702,
0.747751043748486,
0.3484249436092698,
0.7491295984549116
],
"ocr": false,
"ocr_confidence": 1,
"text": "............................."
},
{
"bbox": [
0.08481060374866832,
0.7579272760593306,
0.2864856912632181,
0.76875518089117
],
"ocr": false,
"ocr_confidence": 1,
"text": "Common stock (1,750.0 shares"
},
{
"bbox": [
0.09970352866432884,
0.7704971668332122,
0.3307072803227588,
0.7808488357898801
],
"ocr": false,
"ocr_confidence": 1,
"text": "authorized; 263.7 shares issued and"
},
{
"bbox": [
0.09958922260939473,
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0.3484252518676347,
0.7943210651092135
],
"ocr": false,
"ocr_confidence": 1,
"text": "263.6 shares outstanding).................... "
},
{
"bbox": [
0.4466499816689026,
0.7895963801894077,
0.4590771093914404,
0.7902104577352834
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.5494144324100378,
0.7842450992081517,
0.6859493062953756,
0.794509039984809
],
"ocr": false,
"ocr_confidence": 1,
"text": "401 23,144 "
},
{
"bbox": [
0.7698690497915351,
0.7841949660032602,
0.9113028683646359,
0.7949476808848616
],
"ocr": false,
"ocr_confidence": 1,
"text": "(401) 23,144"
},
{
"bbox": [
0.08464723965937039,
0.8018028397276729,
0.34842843720407196,
0.8131195186644562
],
"ocr": false,
"ocr_confidence": 1,
"text": "Additional paid-in capital ....................... "
},
{
"bbox": [
0.41795816646280515,
0.8029558245833838,
0.5726355864142729,
0.8133074935400517
],
"ocr": false,
"ocr_confidence": 1,
"text": "11,634 7,023 "
},
{
"bbox": [
0.6720034409853746,
0.8083948337446504,
0.6844305687079124,
0.8090089112905261
],
"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
"bbox": [
0.7494564377498948,
0.802855558173601,
0.9097841821535669,
0.813746233011093
],
"ocr": false,
"ocr_confidence": 1,
"text": "(18,657) —"
},
{
"bbox": [
0.08458198521675084,
0.8206390065432211,
0.3484219894666062,
0.8319180905048853
],
"ocr": false,
"ocr_confidence": 1,
"text": "Retained earnings.................................... "
},
{
"bbox": [
0.4251760617651121,
0.8217168014486939,
0.4600242332175926,
0.8321060653804808
],
"ocr": false,
"ocr_confidence": 1,
"text": "8,065 "
},
{
"bbox": [
0.5501003072719381,
0.8217168014486939,
0.6846592450382734,
0.8321060653804808
],
"ocr": false,
"ocr_confidence": 1,
"text": "879 35,211 "
},
{
"bbox": [
0.7576215339429451,
0.8216541300140302,
0.9113028683646359,
0.8325447062805333
],
"ocr": false,
"ocr_confidence": 1,
"text": "(8,951) 35,204"
},
{
"bbox": [
0.08464723965937039,
0.8393998749804435,
0.348421938090212,
0.8507165342030291
],
"ocr": false,
"ocr_confidence": 1,
"text": "Accumulated other comprehensive loss . "
},
{
"bbox": [
0.4318386809994476,
0.8405152451468376,
0.4657070275508996,
0.851343159835776
],
"ocr": false,
"ocr_confidence": 1,
"text": "(561) "
},
{
"bbox": [
0.5445154363458807,
0.840490178544392,
0.5783837828973327,
0.851343159835776
],
"ocr": false,
"ocr_confidence": 1,
"text": "(446) "
},
{
"bbox": [
0.644944778596512,
0.840452573712174,
0.7982505002005734,
0.851343159835776
],
"ocr": false,
"ocr_confidence": 1,
"text": "(1,859) 1,007 "
},
{
"bbox": [
0.8702983406657723,
0.840452573712174,
0.9164141003130261,
0.851343159835776
],
"ocr": false,
"ocr_confidence": 1,
"text": "(1,859)"
},
{
"bbox": [
0.08463090838808002,
0.858185780448815,
0.34842843720407196,
0.8695275161309451
],
"ocr": false,
"ocr_confidence": 1,
"text": "Treasury stock, at cost (510.9 shares)..... "
},
{
"bbox": [
0.44664987891611424,
0.8647903028384659,
0.5717537619850852,
0.8654043902414406
],
"ocr": false,
"ocr_confidence": 1,
"text": "— — "
},
{
"bbox": [
0.6367797337798559,
0.8592510272674166,
0.7971073240543456,
0.8701416035339198
],
"ocr": false,
"ocr_confidence": 1,
"text": "(33,595) — "
},
{
"bbox": [
0.8621332958491161,
0.8592510272674166,
0.9164141003130261,
0.8701416035339198
],
"ocr": false,
"ocr_confidence": 1,
"text": "(33,595)"
},
{
"bbox": [
0.094608435325751,
0.8767335876937985,
0.27504147102535775,
0.8879625285934725
],
"ocr": false,
"ocr_confidence": 1,
"text": "Total shareholders’ equity"
},
{
"bbox": [
0.2772101199988163,
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"text": ".................. "
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"text": "19,138 7,857 22,901 "
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"text": "(27,002) 22,894"
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"text": "Total liabilities and shareholders’"
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"text": "equity"
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"text": "................................................ "
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"text": "$ 71,507 $ 30,492 $ 29,268 $ "
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES (Continued)"
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"text": "CONSOLIDATING BALANCE SHEET (Unaudited)"
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"text": "At December 31, 2018"
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-235 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES (Continued) CONSOLIDATING STATEMENT OF CASH FLOWS (Unaudited) For the year ended December 31, 2019 Other 216 | [
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"text": "For the year ended December 31, 2019 "
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"text": "(in millions) "
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"text": "TPC"
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"text": "Subsidiaries TRV Eliminations Consolidated"
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"text": "Net income..................................................... $ 2,212 $ 577 $ 2,622 $ (2,789) $ 2,622"
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"text": "Net adjustments to reconcile net income to"
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"text": "net cash provided by operating activities... "
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"text": "1,750 "
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"text": "943 "
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"text": "(408) "
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"text": "298 "
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"text": "2,583"
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"text": "Net cash provided by operating activities"
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"text": ".. "
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"text": "3,962 "
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"text": "1,520 "
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"text": "2,214 "
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"text": "(2,491) "
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"text": "Cash flows from investing activities"
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"text": "Proceeds from maturities of fixed maturities. "
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"text": "4,727 "
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"text": "2,107 "
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"text": "11 "
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"text": "— "
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"text": "6,845"
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"text": "Proceeds from sales of investments:"
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"text": "Fixed maturities........................................... "
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"text": "1,295 "
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"text": "891 "
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"text": "1 "
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"text": "2,187"
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"text": "Equity securities .......................................... "
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"text": "Other investments........................................ "
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"text": "114 "
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"text": "— "
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"text": "— "
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"text": "459"
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"text": "Purchases of investments:"
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{
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"text": "Fixed maturities........................................... "
},
{
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"text": "(7,011) (3,686) "
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{
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"text": "(14) "
},
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"text": "— (10,711)"
},
{
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"text": "Equity securities .......................................... "
},
{
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"text": "(2) "
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"text": "(75) "
},
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"text": "(17) "
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"text": "— "
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"text": "(94)"
},
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"text": "Real estate investments ............................... "
},
{
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"text": "— "
},
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"text": "(107) "
},
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"text": "— "
},
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"text": "— "
},
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"text": "(107)"
},
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"text": "Other investments........................................ "
},
{
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"ocr": false,
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"text": "(424) "
},
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"text": "(73) "
},
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"text": "— "
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"text": "— "
},
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"text": "(497)"
},
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"text": "Net sales (purchases) of short-term"
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"text": "securities .................................................... "
},
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"text": "(939) "
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"text": "1 "
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"text": "(19) "
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"text": "— "
},
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"text": "(957)"
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"text": "Securities transactions in course of"
},
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"text": "settlement ................................................... "
},
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"text": "163 "
},
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"text": "(4) "
},
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"text": "(1) "
},
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"text": "— "
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"text": "158"
},
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"text": "Other .............................................................. "
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"text": "(317) "
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"text": "(8) "
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"text": "— "
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"text": "— "
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"text": "(325)"
},
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"text": "Net cash used in investing activities "
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"text": "........... "
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"text": "(2,110) "
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"text": "(765) "
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"text": "(27) "
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"text": "— "
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"text": "(2,902)"
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"text": "Cash flows from financing activities"
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"text": "Treasury stock acquired — share repurchase"
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"text": "authorization .............................................. "
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"text": "— "
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"text": "(1,500) "
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"text": "(1,500)"
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"text": "Treasury stock acquired — net employee"
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"text": "share-based compensation ......................... "
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"text": "— "
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"text": "(48) "
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"text": "(48)"
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"text": "Dividends paid to shareholders...................... "
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"text": "— "
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"text": "(844) "
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"text": "(844)"
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"text": "Payment of debt ............................................. "
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"text": "— "
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"text": "(32) "
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"text": "(500) "
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"text": "32 "
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"text": "(500)"
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"text": "Issuance of debt.............................................. "
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"text": "492 "
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"text": "Issuance of common stock — employee"
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"text": "share options .............................................. "
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"text": "213 "
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"text": "Net increase in cash ....................................... "
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"text": "Cash at beginning of year .............................. "
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"text": "Cash at end of year ...................................... $ 207 $ 287 $ "
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"text": "— $ "
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"text": "— $ 494"
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"text": "Supplemental disclosure of cash flow"
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"text": "Income taxes paid (received) ......................... "
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"text": "$ 375 $ 131 $ (78) $ "
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"text": "— $ 428"
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"text": "Interest paid.................................................... "
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"text": "47 $ "
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"text": "For the year ended December 31, 2019"
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-236 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES (Continued) CONSOLIDATING STATEMENT OF CASH FLOWS (Unaudited) For the year ended December 31, 2018 Other 217 | [
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"text": "For the year ended December 31, 2018 "
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"text": "(in millions) "
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"text": "Net income..................................................... "
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"text": "$ 2,110 $ 604 $ 2,523 $ (2,714) $ 2,523"
},
{
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"ocr": false,
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"text": "Net adjustments to reconcile net income to"
},
{
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"ocr": false,
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"text": "net cash provided by operating activities... "
},
{
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"text": "1,141 "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "605 "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "(363) "
},
{
"bbox": [
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"ocr": false,
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"text": "474 "
},
{
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"text": "1,857"
},
{
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"ocr": false,
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"text": "Net cash provided by operating activities"
},
{
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"ocr": false,
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"text": ".. "
},
{
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"ocr": false,
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"text": "3,251 "
},
{
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"ocr": false,
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"text": "1,209 "
},
{
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"ocr": false,
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"text": "2,160 "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "(2,240) "
},
{
"bbox": [
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"ocr": false,
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"text": "4,380"
},
{
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"ocr": false,
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"text": "Cash flows from investing activities"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Proceeds from maturities of fixed maturities. "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "5,158 "
},
{
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"ocr_confidence": 1,
"text": "1,906 "
},
{
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"text": "22 "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
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"text": "7,086"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "Proceeds from sales of investments:"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Fixed maturities........................................... "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "2,449 "
},
{
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"text": "1,096 "
},
{
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"text": "1 "
},
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"text": "— "
},
{
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"text": "3,546"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "Equity securities .......................................... "
},
{
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"text": "65 "
},
{
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"text": "107 "
},
{
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"ocr": false,
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"text": "6 "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
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"ocr": false,
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"text": "178"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "Real estate investments ............................... "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "66 8——74"
},
{
"bbox": [
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"text": "Other investments........................................ "
},
{
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"ocr": false,
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"text": "403 "
},
{
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"text": "108 "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
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"text": "— "
},
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"text": "511"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "Purchases of investments:"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Fixed maturities........................................... "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "(9,404) (4,096) "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "(26) "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "— (13,526)"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Equity securities .......................................... "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "(8) "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "(99) "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "(10) "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "(117)"
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "Real estate investments ............................... "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "(1) "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "(73) "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "(74)"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "Other investments........................................ "
},
{
"bbox": [
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"ocr": false,
"ocr_confidence": 1,
"text": "(454) "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "(83) "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "— "
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "(537)"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "Net sales (purchases) of short-term"
},
{
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"ocr": false,
"ocr_confidence": 1,
"text": "securities .................................................... "
},
{
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"text": "895 "
},
{
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"text": "154 "
},
{
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"ocr": false,
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"text": "(141) "
},
{
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"text": "— "
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"text": "908"
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"ocr": false,
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"text": "Securities transactions in course of"
},
{
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"ocr_confidence": 1,
"text": "settlement ....................................................... "
},
{
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"text": "(80) "
},
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"text": "24 "
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"text": "— "
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"text": "— "
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"text": "(56)"
},
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"ocr": false,
"ocr_confidence": 1,
"text": "Acquisition, net of cash acquired................... "
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"text": "— "
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"text": "(4) "
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"text": "— "
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"text": "— "
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"text": "(4)"
},
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"ocr": false,
"ocr_confidence": 1,
"text": "Other .............................................................. "
},
{
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"text": "(310) "
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"text": "(8) "
},
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"text": "— "
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"text": "— "
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"text": "(318)"
},
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"text": "Cash flows from financing activities"
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"text": "Treasury stock acquired — net employee"
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"text": "Dividends paid to shareholders...................... "
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"text": "Payment of debt ............................................. "
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"text": "(600) "
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"text": "Issuance of common stock — employee"
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"text": "Dividends paid to parent company ................ "
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"text": "Net cash used in financing activities"
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"text": "........... "
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"text": "(237) (2,012) "
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"text": "Net increase in cash ....................................... "
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"text": "24 5——29"
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"text": "Cash at beginning of year .............................. "
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"text": "Cash at end of year "
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"text": "...................................... "
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"text": "$ 181 $ 192 $ "
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"text": "— $ "
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"text": "— $ 373"
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"text": "Supplemental disclosure of cash flow"
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"text": "information"
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"text": "Income taxes paid (received) ......................... "
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"text": "$ 437 $ 254 $ (283) $ "
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"text": "— $ 408"
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"text": "Interest paid.................................................... "
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"text": "$ "
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"text": "47 $ "
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"text": "— $ 300 $ "
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"index_in_doc": 2985,
"label": "section_header",
"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"label": "section_header",
"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"label": "section_header",
"text": "18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES (Continued)"
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"text": "CONSOLIDATING STATEMENT OF CASH FLOWS (Unaudited)"
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"text": "For the year ended December 31, 2018"
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share repurchase authorization ..............................................</td><td>-</td><td>-</td><td>(1,270)</td><td>-</td><td>(1,270)</td></tr><tr><td>Treasury stock acquired - net employee share-based compensation .........................</td><td>-</td><td>-</td><td>(51)</td><td>-</td><td>(51)</td></tr><tr><td>Dividends paid to shareholders......................</td><td>-</td><td>-</td><td>(814)</td><td>-</td><td>(814)</td></tr><tr><td>Payment of debt .............................................</td><td>-</td><td>-</td><td>(600)</td><td>-</td><td>(600)</td></tr><tr><td>Issuance of debt..............................................</td><td>-</td><td>18</td><td>591</td><td>(18)</td><td>591</td></tr><tr><td>Issuance of common stock - employee share options ..............................................</td><td>-</td><td>-</td><td>132</td><td>-</td><td>132</td></tr><tr><td>Dividends paid to parent company ................</td><td>(2,003)</td><td>(255)</td><td>-</td><td>2,258</td><td>-</td></tr><tr><td>Net cash used in financing activities ...........</td><td>(2,003)</td><td></td><td>(237) (2,012)</td><td>2,240</td><td>(2,012)</td></tr><tr><td>Effect of exchange rate changes on cash .......</td><td>(3)</td><td>(7)</td><td>-</td><td>-</td><td>(10)</td></tr><tr><td>Net increase in cash .......................................</td><td>24 5--29</td><td></td><td></td><td></td><td></td></tr><tr><td>Cash at beginning of year ..............................</td><td>157</td><td>187</td><td>-</td><td>-</td><td>344</td></tr><tr><td>Cash at end of year ......................................</td><td>$ 181 $ 192 $</td><td></td><td>- $</td><td></td><td>- $ 373</td></tr><tr><td>Supplemental disclosure of cash flow information</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Income taxes paid (received) .........................</td><td></td><td>$ 437 $ 254 $ (283) $</td><td></td><td></td><td>- $ 408</td></tr><tr><td>Interest paid....................................................</td><td>47 $</td><td>$</td><td>- $ 300 $</td><td></td><td>- $ 347</td></tr></table>",
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-237 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES (Continued) CONSOLIDATING STATEMENT OF CASH FLOWS (Unaudited) For the year ended December 31, 2017 Other 218 | [
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"text": "For the year ended December 31, 2017 "
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"text": "(in millions) "
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"text": "TPC"
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"text": "Subsidiaries TRV Eliminations Consolidated"
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"text": "Net income..................................................... $ 1,728 $ 462 $ 2,064 $ (2,198) $ 2,056"
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"text": "Net adjustments to reconcile net income to"
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"text": "net cash provided by operating activities... "
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"text": "1,500 "
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"text": "Net cash provided by operating activities"
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"text": ".. "
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"text": "1,163 "
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"text": "(2,275) "
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"text": "Cash flows from investing activities"
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"text": "Proceeds from maturities of fixed maturities. "
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"text": "6,576 "
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"text": "— "
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"text": "Proceeds from sales of investments:"
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"text": "Fixed maturities........................................... "
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"text": "1,007 "
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"text": "Equity securities .......................................... "
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"text": "Real estate investments ............................... "
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"text": "23——23"
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"text": "Other investments........................................ "
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"text": "— "
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"text": "(13) "
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"text": "Purchases of investments:"
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"text": "Fixed maturities........................................... "
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"text": "(8,513) (3,697) "
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"text": "— (12,250)"
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"text": "Equity securities .......................................... "
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"text": "Real estate investments ............................... "
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"text": "Other investments........................................ "
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"text": "Net sales (purchases) of short-term"
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"text": "securities .................................................... "
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"text": "Securities transactions in course of"
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"text": "settlement ................................................... "
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"text": "Acquisition, net of cash acquired................... "
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"text": "Other .............................................................. "
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"text": "Net cash used in investing activities "
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"text": "........... "
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"text": "Cash flows from financing activities"
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"text": "Treasury stock acquired — share repurchase"
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"text": "Treasury stock acquired — net employee"
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"text": "share-based compensation ......................... "
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"text": "Dividends paid to shareholders...................... "
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"text": "Payment of debt ............................................. "
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"text": "Issuance of common stock — employee"
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"text": "Dividends paid to parent company ................ "
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"text": "........... "
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"text": "(651) (1,920) "
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"text": "Effect of exchange rate changes on cash ....... "
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"text": "8——11"
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"text": "Net increase (decrease) in cash...................... "
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"text": "16 "
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"text": "(2) "
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"text": "— "
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"text": "37"
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"text": "Cash at beginning of year .............................. "
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"text": "141 "
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"text": "164 "
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"text": "— "
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"text": "307"
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"text": "Cash at end of year ...................................... $ 157 $ 187 $ "
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"text": "— $ "
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"text": "— $ 344"
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"text": "Supplemental disclosure of cash flow"
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"text": "information"
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"text": "Income taxes paid (received) ......................... $ 481 $ 206 $ (173) $ "
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"text": "— $ 514"
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"text": "Interest paid.................................................... $ "
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"text": "47 $ "
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"text": "— $ 320 $ "
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"text": "— $ 367"
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"text": "18. CONSOLIDATING FINANCIAL STATEMENTS OF THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES (Continued)"
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"text": "CONSOLIDATING STATEMENT OF CASH FLOWS (Unaudited)"
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"text": "For the year ended December 31, 2017"
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share repurchase authorization ..............................................</td><td>-</td><td>-</td><td>(1,378)</td><td>-</td><td>(1,378)</td></tr><tr><td>Treasury stock acquired - net employee share-based compensation .........................</td><td>-</td><td>-</td><td>(62)</td><td>-</td><td>(62)</td></tr><tr><td>Dividends paid to shareholders......................</td><td>-</td><td>-</td><td>(785)</td><td>-</td><td>(785)</td></tr><tr><td>Payment of debt .............................................</td><td>-</td><td>-</td><td>(657)</td><td>-</td><td>(657)</td></tr><tr><td>Issuance of debt..............................................</td><td>-</td><td>14</td><td>789</td><td>(14)</td><td>789</td></tr><tr><td>Issuance of common stock - employee share options ..............................................</td><td>-</td><td>-</td><td>173</td><td>-</td><td>173</td></tr><tr><td>Dividends paid to parent company ................</td><td>(1,624)</td><td>(665)</td><td>-</td><td>2,289</td><td>-</td></tr><tr><td>Net cash used in financing activities ...........</td><td>(1,624)</td><td></td><td>(651) (1,920)</td><td>2,275</td><td>(1,920)</td></tr><tr><td>Effect of exchange rate changes on cash .......</td><td>3</td><td></td><td></td><td>8--11</td><td></td></tr><tr><td>Net increase (decrease) in cash......................</td><td>16</td><td>23</td><td>(2)</td><td>-</td><td>37</td></tr><tr><td>Cash at beginning of year ..............................</td><td>141</td><td>164</td><td>2</td><td>-</td><td>307</td></tr><tr><td>Cash at end of year ...................................... $ 157 $ 187 $</td><td></td><td></td><td>- $</td><td></td><td>- $ 344</td></tr><tr><td>Supplemental disclosure of cash flow information</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Income taxes paid (received) ......................... $ 481 $ 206 $ (173) $</td><td></td><td></td><td></td><td></td><td>- $ 514</td></tr><tr><td>Interest paid.................................................... $</td><td>47 $</td><td></td><td>- $ 320 $</td><td></td><td>- $ 367</td></tr></table>",
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-238 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 19. SELECTED QUARTERLY FINANCIAL DATA (Unaudited) ___________________________________________ (1) Due to the use of an average number of shares for each quarter, the sum of the quarterly earnings per share may not equal the total earnings per share for the full year. 219 | [
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"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"text": "SELECTED QUARTERLY FINANCIAL DATA (Unaudited)"
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"text": "2019 (in millions, except per share amounts)"
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"text": "First"
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"text": "Quarter"
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"text": "Quarter"
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"text": "Third"
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"text": "Quarter"
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"text": "Quarter "
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"text": "Total"
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"text": "Total revenues......................................... "
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"text": "$ 7,671 $ 7,834 $ 8,013 $ 8,063 $ 31,581"
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"text": "Total expenses......................................... "
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"text": "6,704 7,169 7,581 6,989 28,443"
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"text": "Income before income taxes ................... "
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"text": "967 "
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"text": "432 1,074 3,138"
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"text": "Income tax expense................................. "
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"text": "Net income.............................................. "
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"text": "$ 796 $ 557 $ 396 $ 873 $ 2,622"
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"text": "Net income per share "
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"text": "(1)"
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"text": ":"
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"text": "Basic ..................................................... "
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"text": "$ 3.01 $ 2.11 $ 1.52 $ 3.37 $ 10.01"
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"text": "Diluted.................................................. "
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"text": "2.99 "
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"text": "2.10 "
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"text": "1.50 "
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"text": "3.35 "
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"text": "2018 (in millions, except per share amounts)"
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"text": "First"
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"text": "Quarter"
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"text": "Second"
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"text": "Quarter"
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"text": "Third"
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"text": "Quarter"
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"text": "Fourth"
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"text": "Quarter "
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"text": "Total"
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"text": "Total revenues......................................... "
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"text": "$ 7,286 $ 7,477 $ 7,723 $ 7,796 $ 30,282"
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"text": "Total expenses......................................... "
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"text": "6,508 6,846 6,917 7,050 27,321"
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"text": "Income before income taxes ................... "
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"text": "778 "
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"text": "631 "
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"text": "806 "
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"text": "746 2,961"
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"text": "Income tax expense................................. "
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"text": "109 "
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"text": "107 "
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"text": "97 "
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"text": "125 "
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"text": "438"
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"text": "Net income.............................................. "
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"text": "$ 669 $ 524 $ 709 $ 621 $ 2,523"
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"text": "Net income per share "
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"text": "(1)"
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"text": ":"
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"text": "Basic ..................................................... "
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"text": "$ 2.45 $ 1.93 $ 2.65 $ 2.33 $ 9.37"
},
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"text": "Diluted.................................................. "
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"text": "2.42 "
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"text": "1.92 "
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"text": "2.62 "
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"text": "2.32 "
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"text": "9.28"
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"text": "___________________________________________"
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"text": "(1) Due to the use of an average number of shares for each quarter, the sum of the quarterly earnings per share may not equal the total "
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"text": "earnings per share for the full year."
}
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"label": "section_header",
"text": "THE TRAVELERS COMPANIES, INC. AND SUBSIDIARIES"
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"label": "section_header",
"text": "NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)"
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"label": "section_header",
"text": "19. SELECTED QUARTERLY FINANCIAL DATA (Unaudited)"
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"html_seq": "<table><tr><td>2019 (in millions, except per share amounts)</td><th>First Quarter</th><th>Second Quarter</th><th>Third Quarter</th><th>Fourth Quarter</th><th>Total</th></tr><tr><td>Total revenues.........................................</td><td></td><td></td><td>$ 7,671 $ 7,834 $ 8,013 $ 8,063 $ 31,581</td><td></td><td></td></tr><tr><td>Total expenses.........................................</td><td></td><td></td><td></td><td></td><td>6,704 7,169 7,581 6,989 28,443</td></tr><tr><td>Income before income taxes ...................</td><td>967</td><td>665</td><td></td><td></td><td>432 1,074 3,138</td></tr><tr><td>Income tax expense.................................</td><td>171</td><td>108</td><td>36</td><td>201</td><td>516</td></tr><tr><td>Net income..............................................</td><td></td><td></td><td></td><td></td><td>$ 796 $ 557 $ 396 $ 873 $ 2,622</td></tr><tr><td>Net income per share (1) :</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Basic .....................................................</td><td></td><td></td><td></td><td></td><td>$ 3.01 $ 2.11 $ 1.52 $ 3.37 $ 10.01</td></tr><tr><td>Diluted..................................................</td><td>2.99</td><td>2.10</td><td>1.50</td><td>3.35</td><td>9.92</td></tr></table>",
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"html_seq": "<table><tr><td>2018 (in millions, except per share amounts)</td><th>First Quarter</th><th>Second Quarter</th><th>Third Quarter</th><th>Fourth Quarter</th><th>Total</th></tr><tr><td>Total revenues.........................................</td><td></td><td></td><td>$ 7,286 $ 7,477 $ 7,723 $ 7,796 $ 30,282</td><td></td><td></td></tr><tr><td>Total expenses.........................................</td><td></td><td></td><td></td><td></td><td>6,508 6,846 6,917 7,050 27,321</td></tr><tr><td>Income before income taxes ...................</td><td>778</td><td>631</td><td>806</td><td></td><td>746 2,961</td></tr><tr><td>Income tax expense.................................</td><td>109</td><td>107</td><td>97</td><td>125</td><td>438</td></tr><tr><td>Net income..............................................</td><td></td><td></td><td></td><td></td><td>$ 669 $ 524 $ 709 $ 621 $ 2,523</td></tr><tr><td>Net income per share (1) :</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Basic .....................................................</td><td></td><td></td><td></td><td></td><td>$ 2.45 $ 1.93 $ 2.65 $ 2.33 $ 9.37</td></tr><tr><td>Diluted..................................................</td><td>2.42</td><td>1.92</td><td>2.62</td><td>2.32</td><td>9.28</td></tr></table>",
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"text": "___________________________________________"
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"text": "(1) Due to the use of an average number of shares for each quarter, the sum of the quarterly earnings per share may not equal the total earnings per share for the full year."
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"text": "219"
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-239 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE Not Applicable. Item 9A. CONTROLS AND PROCEDURES The Company maintains disclosure controls and procedures (as that term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (Exchange Act)) that are designed to ensure that information required to be disclosed in the Company's reports under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms, and that such information is accumulated and communicated to the Company's management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosures. Any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. The Company's management, with the participation of the Company's Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the design and operation of the Company's disclosure controls and procedures as of December 31, 2019. Based upon that evaluation, the Company's Chief Executive Officer and Chief Financial Officer concluded that, as of December 31, 2019, the design and operation of the Company's disclosure controls and procedures were effective to accomplish their objectives at the reasonable assurance level. In addition, there was no change in the Company's internal control over financial reporting (as that term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that occurred during the quarter ended December 31, 2019 that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting. The Company regularly seeks to identify, develop and implement improvements to its technology systems and business processes, some of which may affect its internal control over financial reporting. These changes may include such activities as implementing new, more efficient systems, updating existing systems or platforms, automating manual processes or utilizing technology developed by third parties. These systems changes are often phased in over multiple periods in order to limit the implementation risk in any one period, and as each change is implemented the Company monitors its effectiveness as part of its internal control over financial reporting. 220 | [
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"text": "Item 9A. CONTROLS AND PROCEDURES"
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"text": "The Company maintains disclosure controls and procedures (as that term is defined in Rules 13a-15(e) and 15d-15(e) under the "
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"text": "its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosures. "
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"text": "13a-15(f) and 15d-15(f) under the Exchange Act) that occurred during the quarter ended December 31, 2019 that has materially "
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"text": "The Company maintains disclosure controls and procedures (as that term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (Exchange Act)) that are designed to ensure that information required to be disclosed in the Company's reports under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms, and that such information is accumulated and communicated to the Company's management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosures. Any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. The Company's management, with the participation of the Company's Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of the design and operation of the Company's disclosure controls and procedures as of December 31, 2019. Based upon that evaluation, the Company's Chief Executive Officer and Chief Financial Officer concluded that, as of December 31, 2019, the design and operation of the Company's disclosure controls and procedures were effective to accomplish their objectives at the reasonable assurance level."
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"text": "In addition, there was no change in the Company's internal control over financial reporting (as that term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that occurred during the quarter ended December 31, 2019 that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-240 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | Management's Report on Internal Control Over Financial Reporting Management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting. The Company's internal control over financial reporting is designed to provide reasonable assurances regarding the reliability of financial reporting and the preparation of the consolidated financial statements of the Company in accordance with U.S. generally accepted accounting principles. The Company's accounting policies and internal controls over financial reporting, established and maintained by management, are under the general oversight of the Company's Audit Committee. The Company's internal control over financial reporting includes those policies and procedures that: - · pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company; - · provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with U.S. generally accepted accounting principles, and that receipts and expenditures are being made only in accordance with authorizations of the Company's management and directors; and - · provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of assets that could have a material effect on the financial statements. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. Management has assessed the Company's internal control over financial reporting as of December 31, 2019. The standard measures adopted by management in making its evaluation are the measures in the Internal Control Integrated Framework (2013) published by the Committee of Sponsoring Organizations of the Treadway Commission. Based upon its assessment, management has concluded that the Company's internal control over financial reporting was effective at December 31, 2019, and that there were no material weaknesses in the Company's internal control over financial reporting as of that date. KPMG LLP, an independent registered public accounting firm, which has audited and reported on the consolidated financial statements contained in this Form 10-K, has issued its report on the effectiveness of the Company's internal control over financial reporting which follows this report. 221 | [
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"text": "Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate."
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"text": "New York, New York February 13, 2020"
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-242 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | Item 9B. OTHER INFORMATION Executive Ownership and Sales. All of the Company's executive officers are subject to the Company's executive stock ownership policy. For a summary of this policy as currently in effect, see "Compensation Discussion and Analysis - Additional Compensation Information - Stock Ownership Guidelines, Anti-Hedging and Pledging Policies, and Other Trading Restrictions" in the Company's proxy statement filed with the SEC on April 5, 2019 (Proxy Statement). From time to time, some of the Company's executives may determine that it is advisable to diversify their investments for personal financial planning reasons, or may seek liquidity for other reasons, and may, in compliance with the stock ownership policy, sell shares of common stock of the Company on the open market, in private transactions or to the Company. To effect such sales, from time to time, some of the Company's executives may enter into trading plans designed to comply with the Company's Securities Trading Policy and the provisions of Rule 10b5-1 under the Securities Exchange Act of 1934. The trading plans will not reduce any of the executives' ownership of the Company's shares below the applicable executive stock ownership guidelines. The Company does not undertake any obligation to report Rule 10b5-1 plans that may be adopted by any employee or director of the Company in the future, or to report any modifications or termination of any publicly announced plan. As of the date of this report, none of the Company's named executive officers (i.e. an executive officer included in the compensation disclosures in the Proxy Statement) has entered into a Rule 105b-1 trading plan that remains in effect. PART III Item 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE Executive Officers of the Company Set forth below is information concerning the Company's executive officers as of February 13, 2020. Alan D. Schnitzer, 54, has been Chairman of the Board of Directors since August 2017 and Chief Executive Officer and Director since December 2015. He previously served as Vice Chairman and Chief Executive Officer, Business and International Insurance from July 2014. Mr. Schnitzer was Vice Chairman - Financial, Professional & International Insurance and Field Management; Chief Legal Officer from May 2012 until July 2014 and Vice Chairman and Chief Legal Officer and Executive Vice President Financial, Professional and International Insurance from May 2008 until May 2012. He was Vice Chairman and Chief Legal Officer from April 2007 until May 2008. Prior to joining the Company, he was a partner at the law firm of Simpson Thacher & Bartlett LLP. William H. Heyman, 71, has been Vice Chairman since August 2019. Prior to that, Mr. Heyman was Vice Chairman and Chief Investment Officer since May 2005. He previously served as Executive Vice President and Chief Investment Officer from May 2002. Mr. Heyman held various positions with Citigroup from 1995 until 2002, including the position of chairman of Citigroup Investments from 2000 until 2002. Prior to joining Citigroup in 1995, Mr. Heyman was, successively: a managing director of Salomon Brothers; Director of the Division of Market Regulation of the U.S. Securities and Exchange Commission; and a managing director of Smith Barney. Avrohom J. Kess, 51, has been Vice Chairman and Chief Legal Officer since December 2016. Prior to that, Mr. Kess was a partner, member of the Corporate Department and Head of the Public Company Advisory Practice at the law firm of Simpson Thacher & Bartlett LLP, which he joined in 1995. 223 | [
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"text": "the Securities Exchange Act of 1934. The trading plans will not reduce any of the executives’ ownership of the Company’s shares "
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"text": "of any publicly announced plan. As of the date of this report, none of the Company's named executive officers (i.e. an executive "
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"text": "officer included in the compensation disclosures in the Proxy Statement) has entered into a Rule 105b-1 trading plan that remains "
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"text": "PART III"
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"text": "Item 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE"
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"text": "Executive Officers of the Company"
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"text": "Set forth below is information concerning the Company’s executive officers as of February 13, 2020. "
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"text": "Avrohom J. Kess.................. "
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"text": "53 Executive Vice President and President, Business Insurance"
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"text": "Alan D. Schnitzer, 54, has been Chairman of the Board of Directors since August 2017 and Chief Executive Officer and Director "
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"text": "from July 2014. Mr. Schnitzer was Vice Chairman - Financial, Professional & International Insurance and Field Management; "
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"text": "Executive Ownership and Sales. All of the Company's executive officers are subject to the Company's executive stock ownership policy. For a summary of this policy as currently in effect, see \"Compensation Discussion and Analysis - Additional Compensation Information - Stock Ownership Guidelines, Anti-Hedging and Pledging Policies, and Other Trading Restrictions\" in the Company's proxy statement filed with the SEC on April 5, 2019 (Proxy Statement). From time to time, some of the Company's executives may determine that it is advisable to diversify their investments for personal financial planning reasons, or may seek liquidity for other reasons, and may, in compliance with the stock ownership policy, sell shares of common stock of the Company on the open market, in private transactions or to the Company. To effect such sales, from time to time, some of the Company's executives may enter into trading plans designed to comply with the Company's Securities Trading Policy and the provisions of Rule 10b5-1 under the Securities Exchange Act of 1934. The trading plans will not reduce any of the executives' ownership of the Company's shares below the applicable executive stock ownership guidelines. The Company does not undertake any obligation to report Rule 10b5-1 plans that may be adopted by any employee or director of the Company in the future, or to report any modifications or termination of any publicly announced plan. As of the date of this report, none of the Company's named executive officers (i.e. an executive officer included in the compensation disclosures in the Proxy Statement) has entered into a Rule 105b-1 trading plan that remains in effect."
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"text": "PART III"
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"text": "Item 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE"
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"text": "Executive Officers of the Company"
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"text": "Set forth below is information concerning the Company's executive officers as of February 13, 2020."
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"text": "Alan D. Schnitzer, 54, has been Chairman of the Board of Directors since August 2017 and Chief Executive Officer and Director since December 2015. He previously served as Vice Chairman and Chief Executive Officer, Business and International Insurance from July 2014. Mr. Schnitzer was Vice Chairman - Financial, Professional & International Insurance and Field Management; Chief Legal Officer from May 2012 until July 2014 and Vice Chairman and Chief Legal Officer and Executive Vice President Financial, Professional and International Insurance from May 2008 until May 2012. He was Vice Chairman and Chief Legal Officer from April 2007 until May 2008. Prior to joining the Company, he was a partner at the law firm of Simpson Thacher & Bartlett LLP."
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"text": "William H. Heyman, 71, has been Vice Chairman since August 2019. Prior to that, Mr. Heyman was Vice Chairman and Chief Investment Officer since May 2005. He previously served as Executive Vice President and Chief Investment Officer from May 2002. Mr. Heyman held various positions with Citigroup from 1995 until 2002, including the position of chairman of Citigroup Investments from 2000 until 2002. Prior to joining Citigroup in 1995, Mr. Heyman was, successively: a managing director of Salomon Brothers; Director of the Division of Market Regulation of the U.S. Securities and Exchange Commission; and a managing director of Smith Barney."
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"text": "Avrohom J. Kess, 51, has been Vice Chairman and Chief Legal Officer since December 2016. Prior to that, Mr. Kess was a partner, member of the Corporate Department and Head of the Public Company Advisory Practice at the law firm of Simpson Thacher & Bartlett LLP, which he joined in 1995."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-243 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | Daniel S. Frey, 55, has been Executive Vice President and Chief Financial Officer since September 2018. Mr. Frey has held various financial management roles since joining a predecessor to the Company in 2003, including Senior Vice President and Chief Financial Officer, Personal Insurance from September 2014, Senior Vice President Finance, Business Insurance from August 2010 and Senior Vice President and Chief Financial Officer, Claim Services from June 2006. Prior to that, Mr. Frey held the position of Chief Financial Officer at Spalding Sports Worldwide from 1999 to 2003 and held various financial management positions at Duracell International, Inc. from 1994 to 1999. Mr. Frey began his career at Deloitte in 1986. Diane D. Bengston, 64, has been Executive Vice President and Chief Human Resources Officer since March 2018. Prior to that, she was Executive Vice President, Enterprise Human Resources from October 2016. Ms. Bengston previously held various management positions since 1979 with the Company and a predecessor, including leading Enterprise Diversity and Inclusion and Talent Management. Andy F. Bessette, 66, has been Executive Vice President and Chief Administrative Officer since January 2002. Mr. Bessette previously held various management positions with predecessors of the Company since 1980, including Vice President, Corporate Real Estate and Services at Travelers Property Casualty Corp. Michael F. Klein, 52, has been Executive Vice President and President, Personal Insurance since July 2015, and was also Head of Enterprise Business Intelligence & Analytics from May 2016 to May 2018. He previously served as Executive Vice President and Co-President, Business Insurance from July 2014, Executive Vice President, Middle Market from November 2012, President of Middle Market from March 2010, President of Commercial Accounts from September 2007, and Senior Vice President, Industry and Product Group from June 2006. Prior to that, Mr. Klein held various positions with the Company since 1990. Thomas M. Kunkel, 61, has been Executive Vice President and President of Bond & Specialty Insurance since May 2015. He previously served as President of the Bond & Financial Products organization from 2005. Prior to that, Mr. Kunkel held various positions with the Company or its predecessors since 1984, including Regional Chief Underwriting Officer for Bond's Construction Surety business, head of Bond's field management organization, and head of Bond's Commercial Surety business. Mojgan M. Lefebvre, 54, has been Executive Vice President and Chief Technology and Operations Officer since May 2019. Prior to that, Ms. Lefebvre was Executive Vice President and Chief Information Officer, Enterprise Operations and eBusiness since joining the Company in September 2018. Ms. Lefebvre previously held various information technology roles at Liberty Mutual, where she was most recently Senior Vice President and Chief Information Officer for the Global Risk Solutions business, from 2010 to 2018, at bioMerieux from 2007 to 2010 and at TeleTech Holdings from 2004 to 2007. Maria Olivo, 55, has been Executive Vice President, Strategic Development and President, International since October 2018. Prior to that, she was Executive Vice President, Strategic Development and Corporate Treasurer since July 2010. She previously served as Executive Vice President and Treasurer from June 2009 and Executive Vice President, Market Development from October 2007. Prior to that Ms. Olivo held various positions with the Company or its predecessors since 2002, including leading Corporate Development, Investor Relations and Corporate Communications. Ms. Olivo was deputy head of Strategic Investments at Swiss Re Capital Partners from April 2000 until June 2002. Prior to joining Swiss Re Capital Partners, she was a director in Salomon Smith Barney's Investment Bank. Gregory C. Toczydlowski, 53, has been Executive Vice President and President of Business Insurance since June 2016. He previously served as Executive Vice President and President, Small Commercial and Business Insurance Technology and Operations from July 2015 and Executive Vice President and President of Personal Insurance from July 2009. Prior to that, Mr. Toczydlowski held various positions with the Company or its predecessors since 1990, including Chief Operating Officer of Personal Insurance and Chief Financial Officer for the independent agency distribution channel within Personal Insurance. Code of Ethics The Company has adopted a Code of Business Conduct and Ethics (Code of Ethics) that applies to all employees, including executive officers, and to directors. The Code of Ethics is available on the Corporate Governance page of the Company's website at www.travelers.com. If the Company ever were to amend or waive any provision of its Code of Ethics that applies to the Company's principal executive officer, principal financial officer, principal accounting officer or any person performing similar functions, the Company intends to satisfy its disclosure obligations, if any, with respect to any such waiver or amendment by posting such information on its website set forth above rather than by filing a Current Report on Form 8-K. 224 | [
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"text": "and Product Group from June 2006. Prior to that, Mr. Klein held various positions with the Company since 1990."
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"text": "previously served as President of the Bond & Financial Products organization from 2005. Prior to that, Mr. Kunkel held various"
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"text": "positions with the Company or its predecessors since 1984, including Regional Chief Underwriting Officer for Bond's Construction "
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"text": "served as Executive Vice President and Treasurer from June 2009 and Executive Vice President, Market Development from October "
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"text": "Gregory C. Toczydlowski, 53, has been Executive Vice President and President of Business Insurance since June 2016. He "
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"text": "executive officers, and to directors. The Code of Ethics is available on the Corporate Governance page of the Company’s website"
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"text": "at www.travelers.com. If the Company ever were to amend or waive any provision of its Code of Ethics that applies to the "
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"text": "functions, the Company intends to satisfy its disclosure obligations, if any, with respect to any such waiver or amendment by "
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"text": "posting such information on its website set forth above rather than by filing a Current Report on Form 8-K. "
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"text": "Daniel S. Frey, 55, has been Executive Vice President and Chief Financial Officer since September 2018. Mr. Frey has held various financial management roles since joining a predecessor to the Company in 2003, including Senior Vice President and Chief Financial Officer, Personal Insurance from September 2014, Senior Vice President Finance, Business Insurance from August 2010 and Senior Vice President and Chief Financial Officer, Claim Services from June 2006. Prior to that, Mr. Frey held the position of Chief Financial Officer at Spalding Sports Worldwide from 1999 to 2003 and held various financial management positions at Duracell International, Inc. from 1994 to 1999. Mr. Frey began his career at Deloitte in 1986."
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"text": "Diane D. Bengston, 64, has been Executive Vice President and Chief Human Resources Officer since March 2018. Prior to that, she was Executive Vice President, Enterprise Human Resources from October 2016. Ms. Bengston previously held various management positions since 1979 with the Company and a predecessor, including leading Enterprise Diversity and Inclusion and Talent Management."
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"text": "Andy F. Bessette, 66, has been Executive Vice President and Chief Administrative Officer since January 2002. Mr. Bessette previously held various management positions with predecessors of the Company since 1980, including Vice President, Corporate Real Estate and Services at Travelers Property Casualty Corp."
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"text": "The Company has adopted a Code of Business Conduct and Ethics (Code of Ethics) that applies to all employees, including executive officers, and to directors. The Code of Ethics is available on the Corporate Governance page of the Company's website at www.travelers.com. If the Company ever were to amend or waive any provision of its Code of Ethics that applies to the Company's principal executive officer, principal financial officer, principal accounting officer or any person performing similar functions, the Company intends to satisfy its disclosure obligations, if any, with respect to any such waiver or amendment by posting such information on its website set forth above rather than by filing a Current Report on Form 8-K."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-244 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | Other The following sections of the Company's definitive Proxy Statement relating to its 2020 Annual Meeting of Shareholders, which will be filed with the SEC no later than 120 days after the end of the Company's fiscal year on December 31, 2019 (the Proxy Statement), are incorporated herein by reference: "Nominees for Election of Directors," "Governance of Your Company - Specific Considerations Regarding the 2020 Nominees," "Governance of Your Company - Committees of the Board and Meetings - Audit Committee" and, if included in the Proxy Statement, "Share Ownership Information - Delinquent Section 16(a) Reports." Item 11. EXECUTIVE COMPENSATION The following sections of the Proxy Statement are incorporated herein by reference: "Compensation Discussion and Analysis," "Compensation Committee Report," "Summary Compensation Table," "Grants of Plan-Based Awards in 2019," "Narrative Supplement to Summary Compensation Table and Grants of Plan-Based Awards in 2019," "Option Exercises and Stock Vested in 2019," "Outstanding Equity Awards at December 31, 2019," "Post-Employment Compensation," "Potential Payments to Named Executive Officers Upon Termination of Employment or Change in Control," "Non-Employee Director Compensation," "Governance of Your Company - Risk Management and Compensation" and "CEO Pay Ratio." Item 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED SHAREHOLDER MATTERS The "Share Ownership Information - 5% Owners" and "Share Ownership Information - Directors and Executive Officers" sections of the Proxy Statement are incorporated herein by reference. EQUITY COMPENSATION PLAN INFORMATION The following table sets forth information as of December 31, 2019 regarding the Company's equity compensation plans. The only plan pursuant to which the Company may currently make additional equity grants is The Travelers Companies, Inc. Amended and Restated 2014 Stock Incentive Plan (the 2014 Incentive Plan). ___________________________________________ (1) In addition to the 2014 Incentive Plan, also included are The Travelers Companies, Inc. Amended and Restated 2004 Stock Incentive Plan, as amended (the 2004 Incentive Plan), which was replaced by the 2014 Incentive Plan, and certain plans for employees in the United Kingdom and the Republic of Ireland and The Travelers Deferred Compensation Plan for Non-Employee Directors. Shares delivered under these plans are issued pursuant to the 2004 Incentive Plan and the 2014 Incentive Plan. (2) Total includes (i) 9,143,777 stock options, (ii) 1,034,334 performance shares and dividend equivalents accrued thereon (assuming issuance of 100% of performance shares granted), (iii) 1,572,135 restricted stock units, (iv) 235,477 director deferred stock awards and dividend equivalents accrued thereon and (v) 22,156 common stock units credited to the deferred compensation accounts of certain non-employee directors in lieu of cash compensation, at the election of such directors. (3) The weighted average exercise prices for both the 2004 Incentive Plan and the 2014 Incentive Plan relate only to stock options. The calculation of the weighted average exercise price does not include outstanding equity awards that are received or exercised for no consideration and also does not include common stock units credited to the deferred compensation accounts of certain non-employee directors at fair market value in lieu of cash compensation at the election of such directors. (4) These shares are available for grant as of December 31, 2019 under the 2014 Incentive Plan pursuant to which the Compensation Committee of the Board of Directors may make various stock-based awards including nonqualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units, deferred stock, deferred stock units, performance awards and other stock-based or stock-denominated awards with respect to the Company’s common stock. This includes 10 million shares initially authorized for issuance under the 2014 Incentive Plan and an additional 3.1 million shares, 2.5 million shares and 4.4 million shares authorized by shareholders in May 2019, May 2017 and May 2016, respectively, and shares subject to awards under the 2004 Incentive 225 | [
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"text": "(4) These shares are available for grant as of December 31, 2019 under the 2014 Incentive Plan pursuant to which the Compensation "
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"text": "Committee of the Board of Directors may make various stock-based awards including nonqualified stock options, incentive stock "
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"text": "other stock-based or stock-denominated awards with respect to the Company’s common stock. This includes 10 million shares initially "
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"text": "authorized for issuance under the 2014 Incentive Plan and an additional 3.1 million shares, 2.5 million shares and 4.4 million shares "
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"text": "authorized by shareholders in May 2019, May 2017 and May 2016, respectively, and shares subject to awards under the 2004 Incentive "
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"text": "The following sections of the Company's definitive Proxy Statement relating to its 2020 Annual Meeting of Shareholders, which will be filed with the SEC no later than 120 days after the end of the Company's fiscal year on December 31, 2019 (the Proxy Statement), are incorporated herein by reference: \"Nominees for Election of Directors,\" \"Governance of Your Company - Specific Considerations Regarding the 2020 Nominees,\" \"Governance of Your Company - Committees of the Board and Meetings - Audit Committee\" and, if included in the Proxy Statement, \"Share Ownership Information - Delinquent Section 16(a) Reports.\""
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"text": "Item 11. EXECUTIVE COMPENSATION"
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"text": "The following sections of the Proxy Statement are incorporated herein by reference: \"Compensation Discussion and Analysis,\" \"Compensation Committee Report,\" \"Summary Compensation Table,\" \"Grants of Plan-Based Awards in 2019,\" \"Narrative Supplement to Summary Compensation Table and Grants of Plan-Based Awards in 2019,\" \"Option Exercises and Stock Vested in 2019,\" \"Outstanding Equity Awards at December 31, 2019,\" \"Post-Employment Compensation,\" \"Potential Payments to Named Executive Officers Upon Termination of Employment or Change in Control,\" \"Non-Employee Director Compensation,\" \"Governance of Your Company - Risk Management and Compensation\" and \"CEO Pay Ratio.\""
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"text": "Item 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED SHAREHOLDER MATTERS"
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"text": "The \"Share Ownership Information - 5% Owners\" and \"Share Ownership Information - Directors and Executive Officers\" sections of the Proxy Statement are incorporated herein by reference."
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"text": "EQUITY COMPENSATION PLAN INFORMATION"
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"text": "The following table sets forth information as of December 31, 2019 regarding the Company's equity compensation plans. The only plan pursuant to which the Company may currently make additional equity grants is The Travelers Companies, Inc. Amended and Restated 2014 Stock Incentive Plan (the 2014 Incentive Plan)."
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"text": "(1) In addition to the 2014 Incentive Plan, also included are The Travelers Companies, Inc. Amended and Restated 2004 Stock Incentive Plan, as amended (the 2004 Incentive Plan), which was replaced by the 2014 Incentive Plan, and certain plans for employees in the United Kingdom and the Republic of Ireland and The Travelers Deferred Compensation Plan for Non-Employee Directors. Shares delivered under these plans are issued pursuant to the 2004 Incentive Plan and the 2014 Incentive Plan."
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"text": "(2) Total includes (i) 9,143,777 stock options, (ii) 1,034,334 performance shares and dividend equivalents accrued thereon (assuming issuance of 100% of performance shares granted), (iii) 1,572,135 restricted stock units, (iv) 235,477 director deferred stock awards and dividend equivalents accrued thereon and (v) 22,156 common stock units credited to the deferred compensation accounts of certain non-employee directors in lieu of cash compensation, at the election of such directors."
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"text": "(3) The weighted average exercise prices for both the 2004 Incentive Plan and the 2014 Incentive Plan relate only to stock options. The calculation of the weighted average exercise price does not include outstanding equity awards that are received or exercised for no consideration and also does not include common stock units credited to the deferred compensation accounts of certain non-employee directors at fair market value in lieu of cash compensation at the election of such directors."
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"text": "(4) These shares are available for grant as of December 31, 2019 under the 2014 Incentive Plan pursuant to which the Compensation Committee of the Board of Directors may make various stock-based awards including nonqualified stock options, incentive stock options, stock appreciation rights, restricted stock, restricted stock units, deferred stock, deferred stock units, performance awards and other stock-based or stock-denominated awards with respect to the Company’s common stock. This includes 10 million shares initially authorized for issuance under the 2014 Incentive Plan and an additional 3.1 million shares, 2.5 million shares and 4.4 million shares authorized by shareholders in May 2019, May 2017 and May 2016, respectively, and shares subject to awards under the 2004 Incentive"
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-245 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | Plan and the 2014 Incentive Plan that expired, were cancelled, forfeited, settled in cash or otherwise terminated without the issuance of shares. Item 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE The "Governance of Your Company-Transactions with Related Persons," "Nominees for Election of Directors" and "Governance of Your Company-Directors Independence and Independence Determinations" sections of the Proxy Statement are incorporated herein by reference. Item 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES The "Audit and Non-Audit Fees" section of the Proxy Statement is incorporated herein by reference. PART IV Item 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES Documents filed as a part of the report: - (1) Financial Statements and Schedules. See Index to Consolidated Financial Statements and Schedules on page 120 hereof. - (2) Exhibits: 226 | [
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"text": "3.1 Amended and Restated Articles of Incorporation of The Travelers Companies, Inc. (the “Company”), as "
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"text": "amended and restated May 23, 2013, were filed as Exhibit 3.1 to the Company's current report on Form 8-K "
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"text": "3.2 Bylaws of The Travelers Companies, Inc. as Amended and Restated October 22, 2019 were filed as Exhibit "
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"text": "3.2 to the Company's quarterly report on Form 10-Q for the fiscal quarter ended September 30, 2019, and are "
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"text": "4.1† Description of Common Stock. "
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"text": "10.1 Revolving Credit Agreement, dated June 4, 2018, between the Company and a syndicate of financial "
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"text": "institutions, was filed as Exhibit 10.1 to the Company's current report on Form 8-K filed on June 6, 2018, and "
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"text": "10.2* The Travelers Companies, Inc. Policy Regarding Executive Incentive Compensation Recoupment was filed "
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"text": "as Exhibit 10.42 to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2009, "
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"text": "10.4* Letter Agreement between Alan D. Schnitzer and the Company, dated August 4, 2015, was filed as Exhibit "
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"text": "10.2 to the Company's quarterly report on Form 10-Q for the fiscal quarter ended September 30, 2015, and is "
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"text": "10.5* Time Sharing Agreement, dated September 2, 2015, by and between the Company and Alan D. Schnitzer, was "
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"text": "filed as Exhibit 10.3 to the Company's quarterly report on Form 10-Q for the fiscal quarter ended September "
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"text": "10.7* The Travelers Companies, Inc. Amended and Restated 2014 Stock Incentive Plan was filed as Exhibit 10.1 "
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"text": "to the Company's current report on Form 8-K filed on May 24, 2019, and is incorporated herein by reference."
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"text": "10.8* The Travelers Companies, Inc. Amended and Restated 2004 Stock Incentive Plan was filed as Exhibit 10.28 "
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"text": "to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2008, and is incorporated "
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"text": "Exhibit 10.7 to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2012, and "
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"text": "was filed as Exhibit 10.22 to TPC's annual report on Form 10-K for the fiscal year ended December 31, 2002, "
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"text": "Plan and the 2014 Incentive Plan that expired, were cancelled, forfeited, settled in cash or otherwise terminated without the issuance of shares."
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"text": "Item 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE"
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"text": "The \"Governance of Your Company-Transactions with Related Persons,\" \"Nominees for Election of Directors\" and \"Governance of Your Company-Directors Independence and Independence Determinations\" sections of the Proxy Statement are incorporated herein by reference."
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"text": "Item 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES"
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"text": "The \"Audit and Non-Audit Fees\" section of the Proxy Statement is incorporated herein by reference."
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"text": "PART IV"
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"text": "Item 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES"
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"text": "Documents filed as a part of the report:"
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"text": "- (1) Financial Statements and Schedules. See Index to Consolidated Financial Statements and Schedules on page 120 hereof."
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"text": "- (2) Exhibits:"
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"html_seq": "<table><tr><th>Number Description of Exhibit</th></tr><tr><td>3.1 Amended and Restated Articles of Incorporation of The Travelers Companies, Inc. (the \"Company\"), as amended and restated May 23, 2013, were filed as Exhibit 3.1 to the Company's current report on Form 8-K filed on May 24, 2013, and are incorporated herein by reference.</td></tr><tr><td>3.2 Bylaws of The Travelers Companies, Inc. as Amended and Restated October 22, 2019 were filed as Exhibit 3.2 to the Company's quarterly report on Form 10-Q for the fiscal quarter ended September 30, 2019, and are incorporated herein by reference.</td></tr><tr><td>4.1† Description of Common Stock.</td></tr><tr><td>10.1 Revolving Credit Agreement, dated June 4, 2018, between the Company and a syndicate of financial institutions, was filed as Exhibit 10.1 to the Company's current report on Form 8-K filed on June 6, 2018, and is incorporated herein by reference.</td></tr><tr><td>10.2* The Travelers Companies, Inc. Policy Regarding Executive Incentive Compensation Recoupment was filed as Exhibit 10.42 to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2009, and is incorporated herein by reference.</td></tr><tr><td>10.3* Letter Agreement between Alan D. Schnitzer and the Company, dated April 15, 2007, was filed as Exhibit 10.1 to the Company's quarterly report on Form 10-Q for the fiscal quarter ended June 30, 2007, and is incorporated herein by reference.</td></tr><tr><td>10.4* Letter Agreement between Alan D. Schnitzer and the Company, dated August 4, 2015, was filed as Exhibit 10.2 to the Company's quarterly report on Form 10-Q for the fiscal quarter ended September 30, 2015, and is incorporated herein by reference.</td></tr><tr><td>10.5* Time Sharing Agreement, dated September 2, 2015, by and between the Company and Alan D. Schnitzer, was filed as Exhibit 10.3 to the Company's quarterly report on Form 10-Q for the fiscal quarter ended September 30, 2015, and is incorporated herein by reference.</td></tr><tr><td>10.6* Letter Agreement between Avrohom J. Kess and the Company, dated December 19, 2016, was filed as Exhibit 10.49 to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2016, and is incorporated by reference.</td></tr><tr><td>10.7* The Travelers Companies, Inc. Amended and Restated 2014 Stock Incentive Plan was filed as Exhibit 10.1 to the Company's current report on Form 8-K filed on May 24, 2019, and is incorporated herein by reference.</td></tr><tr><td>10.8* The Travelers Companies, Inc. Amended and Restated 2004 Stock Incentive Plan was filed as Exhibit 10.28 to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2008, and is incorporated herein by reference.</td></tr><tr><td>10.9* Amendment to The Travelers Companies, Inc. Amended and Restated 2004 Stock Incentive Plan was filed as Exhibit 10.7 to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2012, and is incorporated herein by reference.</td></tr><tr><td>10.10* Travelers Property Casualty Corp. (\"TPC\") 2002 Stock Incentive Plan, as amended effective January 23, 2003, was filed as Exhibit 10.22 to TPC's annual report on Form 10-K for the fiscal year ended December 31, 2002, and is incorporated herein by reference.</td></tr></table>",
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-246 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | 227 | [
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"text": "10.12* Current Director Compensation Program, effective as of May 19, 2016, was filed as Exhibit 10.2 to the "
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"text": "Company's quarterly report on Form 10-Q for the fiscal quarter ended June 30, 2016, and is incorporated "
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"text": "10.13* The Company's Amended and Restated Deferred Compensation Plan for Non-Employee Directors was filed "
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"text": "as Exhibit 10.29 to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2008, "
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"text": "and is incorporated herein by reference. "
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"text": "10.14* TPC Compensation Plan for Non-Employee Directors, as amended on January 22, 2004, was filed as Exhibit "
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"text": "10.16 to TPC's annual report on Form 10-K for the fiscal year ended December 31, 2003, and is incorporated "
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"text": "10.15* The SPC Directors' Deferred Compensation Plan was filed as Exhibit 10(b) to the Company's annual report "
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"text": "on Form 10-K for the fiscal year ended December 31, 1997, and is incorporated herein by reference. "
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"text": "10.16* The SPC Deferred Stock Plan for Non-Employee Directors was filed as Exhibit 10(a) to the Company's annual "
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"text": "report on Form 10-K for the fiscal year ended December 31, 2000, and is incorporated herein by reference."
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"text": "10.17* The Travelers Severance Plan (as Amended and Restated, effective January 1, 2015) was filed as Exhibit 10.20 "
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"text": "to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2014, and is incorporated "
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"text": "herein by reference. "
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"text": "10.18* The Company's Senior Executive Performance Plan was filed as Exhibit 10.1 to the Company's quarterly "
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"text": "report on Form 10-Q for the fiscal quarter ended March 31, 2005, and is incorporated herein by reference."
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"text": "10.19* First Amendment to the Company's Senior Executive Performance Plan was filed as Exhibit 10.40 to the "
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"text": "Company's annual report on Form 10-K for the fiscal year ended December 31, 2009, and is incorporated "
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"text": "10.20* The Travelers Deferred Compensation Plan, as Amended and Restated, effective January 1, 2009, was filed "
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"text": "as Exhibit 99.1 to the Company's Registration Statement on Form S-8 (Registration No. 333-157091) dated "
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"text": "10.21* First Amendment to The Travelers Deferred Compensation Plan was filed as Exhibit 10.37 to the Company's "
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"text": "annual report on Form 10-K for the fiscal year ended December 31, 2009, and is incorporated herein by "
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"text": "10.22* TPC Deferred Compensation Plan was filed as Exhibit 10.23 to TPC's annual report on Form 10-K for the "
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"text": "as Exhibit 10.29 to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2015, "
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"text": "10.24* TPC Benefit Equalization Plan was filed as Exhibit 10.24 to TPC's annual report on Form 10-K for the fiscal "
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"text": "Exhibit 10.27 to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2004, "
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"text": "10.26* The SPC Annual Incentive Plan was filed as an exhibit to the Company's Definitive Proxy Statement on "
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"text": "Schedule 14A, filed on March 29, 1999, and is incorporated herein by reference. "
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"text": "10.27* Form of Non-Competition Agreement was filed as Exhibit 10.43 to the Company's annual report on Form 10-"
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"text": "K for the fiscal year ended December 31, 2009, and is incorporated herein by reference."
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"text": "filed as Exhibit 10.35 to the Company’s annual report on Form 10-K for the fiscal year ended December 31, "
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"html_seq": "<table><tr><td>10.11* Amendment to the TPC 2002 Stock Incentive Plan, as amended effective January 23, 2003, was filed as Exhibit 10.9 to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2012, and is incorporated herein by reference.</td></tr><tr><td>10.12* Current Director Compensation Program, effective as of May 19, 2016, was filed as Exhibit 10.2 to the Company's quarterly report on Form 10-Q for the fiscal quarter ended June 30, 2016, and is incorporated herein by reference.</td></tr><tr><td>10.13* The Company's Amended and Restated Deferred Compensation Plan for Non-Employee Directors was filed as Exhibit 10.29 to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2008, and is incorporated herein by reference.</td></tr><tr><td>10.14* TPC Compensation Plan for Non-Employee Directors, as amended on January 22, 2004, was filed as Exhibit 10.16 to TPC's annual report on Form 10-K for the fiscal year ended December 31, 2003, and is incorporated herein by reference.</td></tr><tr><td>10.15* The SPC Directors' Deferred Compensation Plan was filed as Exhibit 10(b) to the Company's annual report on Form 10-K for the fiscal year ended December 31, 1997, and is incorporated herein by reference.</td></tr><tr><td>10.16* The SPC Deferred Stock Plan for Non-Employee Directors was filed as Exhibit 10(a) to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2000, and is incorporated herein by reference.</td></tr><tr><td>10.17* The Travelers Severance Plan (as Amended and Restated, effective January 1, 2015) was filed as Exhibit 10.20 to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2014, and is incorporated herein by reference.</td></tr><tr><td>10.18* The Company's Senior Executive Performance Plan was filed as Exhibit 10.1 to the Company's quarterly report on Form 10-Q for the fiscal quarter ended March 31, 2005, and is incorporated herein by reference.</td></tr><tr><td>10.19* First Amendment to the Company's Senior Executive Performance Plan was filed as Exhibit 10.40 to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2009, and is incorporated herein by reference.</td></tr><tr><td>10.20* The Travelers Deferred Compensation Plan, as Amended and Restated, effective January 1, 2009, was filed as Exhibit 99.1 to the Company's Registration Statement on Form S-8 (Registration No. 333-157091) dated February 4, 2009, and is incorporated herein by reference.</td></tr><tr><td>10.21* First Amendment to The Travelers Deferred Compensation Plan was filed as Exhibit 10.37 to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2009, and is incorporated herein by reference.</td></tr><tr><td>10.22* TPC Deferred Compensation Plan was filed as Exhibit 10.23 to TPC's annual report on Form 10-K for the fiscal year ended December 31, 2002, and is incorporated herein by reference.</td></tr><tr><td>10.23* The Travelers Benefit Equalization Plan, as Amended and Restated effective as of January 1, 2016, was filed as Exhibit 10.29 to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2015, and is incorporated herein by reference.</td></tr><tr><td>10.24* TPC Benefit Equalization Plan was filed as Exhibit 10.24 to TPC's annual report on Form 10-K for the fiscal year ended December 31, 2002, and is incorporated herein by reference.</td></tr><tr><td>10.25* The SPC Benefit Equalization Plan-2001 Revision and the first and second amendments thereto were filed as Exhibit 10.27 to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2004, and are incorporated herein by reference.</td></tr><tr><td>10.26* The SPC Annual Incentive Plan was filed as an exhibit to the Company's Definitive Proxy Statement on Schedule 14A, filed on March 29, 1999, and is incorporated herein by reference.</td></tr><tr><td>10.27* Form of Non-Competition Agreement was filed as Exhibit 10.43 to the Company's annual report on Form 10- K for the fiscal year ended December 31, 2009, and is incorporated herein by reference.</td></tr><tr><td>10.28* Form of Amended and Restated Non-Solicitation and Non-Disclosure Agreement for Executive Officers was filed as Exhibit 10.35 to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2016, and is incorporated herein by reference.</td></tr><tr><td>10.29* Form of Restricted Stock Unit Award Notification and Agreement (For Management Committee Member Executing Non-Compete) was filed as Exhibit 10.37 to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2014, and is incorporated herein by reference.</td></tr><tr><td>10.30†* Form of Stock Option Grant Notification and Agreement.</td></tr><tr><td>10.31†* Form of Restricted Stock Unit Award Notification and Agreement.</td></tr><tr><td>10.32* Form of Performance Shares Award Notification and Agreement (2017) was filed as Exhibit 10.45 to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2016, and is incorporated herein by reference.</td></tr><tr><td>10.33* Form of Performance Share Award Notification and Agreement (2018) was filed as Exhibit 10.40 to the Company's annual report on Form 10-K for the fiscal year ended December 31, 2017, and is incorporated herein by reference.</td></tr></table>",
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-247 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | _________________________________________ † Filed herewith. * Management contract or compensatory plan in which directors and/or executive officers are eligible to participate. The total amount of securities authorized pursuant to any instrument defining rights of holders of long-term debt of the Company does not exceed 10% of the total assets of the Company and its consolidated subsidiaries. Therefore, the Company is not filing any instruments evidencing long-term debt. However, the Company will furnish copies of any such instrument to the Securities and Exchange Commission upon request. Copies of any of the exhibits referred to above will be furnished to security holders who make written request therefor to The Travelers Companies, Inc., 385 Washington Street, Saint Paul, MN, 55102, Attention: Corporate Secretary. The agreements and other documents filed as exhibits to this report are not intended to provide factual information or other disclosure other than the terms of the agreements or other documents themselves, and you should not rely on them for that purpose. In particular, any representations and warranties made by the Company in these agreements or other documents were made solely within the specific context of the relevant agreement or document and may not describe the actual state of affairs at the date they were made or at any other time. Item 16. FORM 10-K SUMMARY None. 228 | [
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"text": "21.1† A list of the subsidiaries of the Company."
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"text": "23.1† Consent of KPMG LLP, Independent Registered Public Accounting Firm, with respect to the incorporation "
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"text": "Section 302 of the Sarbanes-Oxley Act of 2002."
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"text": "32.1† Certification of Alan D. Schnitzer, Chairman and Chief Executive Officer of the Company, as required by "
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"text": "32.2† Certification of Daniel S. Frey, Chief Financial Officer of the Company, as required by Section 906 of the "
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"text": "101.1† The following information from The Travelers Companies, Inc.'s Annual Report on Form 10-K for the year "
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"text": "ended December 31, 2019 formatted in Inline XBRL: (i) Consolidated Statement of Income for the years "
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"text": "ended December 31, 2019, 2018 and 2017; (ii) Consolidated Statement of Comprehensive Income for the "
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"text": "years ended December 31, 2019, 2018 and 2017; (iii) Consolidated Balance Sheet at December 31, 2019 and "
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"text": "2018 and 2017; (v) Consolidated Statement of Cash Flows for the years ended December 31, 2019, 2018 and "
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"text": "2017; (vi) Notes to Consolidated Financial Statements; (vii) Financial Statement Schedules; and (viii) the "
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"text": "104.1 Cover Page Interactive Data File (Embedded within the Inline XBRL document and included in Exhibit 101.1)."
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"text": "† Filed herewith."
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"text": "* Management contract or compensatory plan in which directors and/or executive officers are eligible to participate."
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"text": "The total amount of securities authorized pursuant to any instrument defining rights of holders of long-term debt of the Company "
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"text": "does not exceed 10% of the total assets of the Company and its consolidated subsidiaries. Therefore, the Company is not filing "
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"text": "Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, The Travelers Companies, Inc. has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized."
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"text": "THE TRAVELERS COMPANIES, INC. (Registrant)"
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"text": "Christine K. Kalla Executive Vice President and General Counsel (Authorized Signatory)"
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"text": "Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of The Travelers Companies, Inc. and in the capacities and on the dates indicated."
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e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533-249 | /tmp/hf-datasets-cache/medium/datasets/52128918645359-config-parquet-and-info-argimi-test_bnf-7df02e14/hub/datasets--argimi--test_bnf/snapshots/fe518dbc930963537ce0278577b5972656334856/e0/document-e0093d65a08001302da004d0efc202507906360fc9a05c2e4f935979a1383533.tar.gz | FINANCIAL STATEMENT SCHEDULES THE TRAVELERS COMPANIES, INC. (Parent Company Only) CONDENSED FINANCIAL INFORMATION OF REGISTRANT (in millions) CONDENSED STATEMENT OF INCOME ___________________________________________ SCHEDULE II (1) The parent company had no other-than-temporary impairment gains or losses recognized in net realized investment gains (losses) or in other comprehensive income during the years ended December 31, 2019, 2018 and 2017. The condensed financial statements should be read in conjunction with the notes to the condensed financial information of the registrant, as well as the consolidated financial statements and notes thereto. See the Report of Independent Registered Public Accounting Firm. 230 | [
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"text": ".................... "
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"text": "(244) "
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"text": "Income tax benefit ......................................................................................... "
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"text": "(130)"
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"text": "Loss before net income of subsidiaries"
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"text": "................................................... "
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"text": "(191) "
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"text": "(126)"
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"text": "Net income of subsidiaries ............................................................................ "
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"text": "2,789 "
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"text": "2,714 2,190"
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"text": "Net income "
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"text": "................................................................................................ "
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"text": "$ 2,622 "
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"text": "$ 2,523 $ 2,064"
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"text": "___________________________________________"
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"text": "(1) The parent company had no other-than-temporary impairment gains or losses recognized in net realized investment gains (losses) or in "
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"text": "other comprehensive income during the years ended December 31, 2019, 2018 and 2017. "
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"text": "The condensed financial statements should be read in conjunction with the notes to the condensed financial information of the "
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"text": "registrant, as well as the consolidated financial statements and notes thereto."
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"text": "See the Report of Independent Registered Public Accounting Firm."
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"label": "section_header",
"text": "FINANCIAL STATEMENT SCHEDULES"
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"label": "section_header",
"text": "THE TRAVELERS COMPANIES, INC."
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"text": "(Parent Company Only)"
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"label": "section_header",
"text": "CONDENSED FINANCIAL INFORMATION OF REGISTRANT"
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"text": "(in millions)"
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"label": "section_header",
"text": "CONDENSED STATEMENT OF INCOME"
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"html_seq": "<table><tr><td>For the year ended December 31,</td><td></td><th>2019 2018 2017</th><td></td></tr><tr><td>Revenues</td><td></td><td></td><td></td></tr><tr><td>Net investment income..................................................................................</td><td>$ 41</td><td></td><td>$ 32 $ 24</td></tr><tr><td>Net realized investment gains (losses) (1) ......................................................</td><td>33</td><td>(13)</td><td>66</td></tr><tr><td>Total revenues ............................................................................................</td><td>74</td><td>19</td><td>90</td></tr><tr><td>Expenses</td><td></td><td></td><td></td></tr><tr><td>Interest ...........................................................................................................</td><td>297</td><td>304</td><td>321</td></tr><tr><td>Other..............................................................................................................</td><td>21</td><td>20</td><td>25</td></tr><tr><td>Total expenses ............................................................................................</td><td>318</td><td>324</td><td>346</td></tr><tr><td>Loss before income taxes and net income of subsidiaries ....................</td><td>(244)</td><td>(305)</td><td>(256)</td></tr><tr><td>Income tax benefit .........................................................................................</td><td>(77)</td><td>(114)</td><td>(130)</td></tr><tr><td>Loss before net income of subsidiaries ...................................................</td><td>(167)</td><td>(191)</td><td>(126)</td></tr><tr><td>Net income of subsidiaries ............................................................................</td><td>2,789</td><td>2,714 2,190</td><td></td></tr><tr><td>Net income ................................................................................................</td><td>$ 2,622</td><td></td><td>$ 2,523 $ 2,064</td></tr></table>",
"otsl_seq": ""
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"label": "table",
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"label": "text",
"text": "___________________________________________"
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"label": "page_header",
"text": "SCHEDULE II"
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"label": "footnote",
"text": "(1) The parent company had no other-than-temporary impairment gains or losses recognized in net realized investment gains (losses) or in other comprehensive income during the years ended December 31, 2019, 2018 and 2017."
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"label": "text",
"text": "The condensed financial statements should be read in conjunction with the notes to the condensed financial information of the registrant, as well as the consolidated financial statements and notes thereto."
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"label": "text",
"text": "See the Report of Independent Registered Public Accounting Firm."
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"label": "page_footer",
"text": "230"
}
] | {
"filename": "NYSE_TRV_2019.pdf",
"page": 249
} |
Subsets and Splits