Note 4. Investments in fixed maturity securities

Investments in securities with fixed maturities as of September 30, 2015 and December 31, 2014 are summarized by type below (in millions).


	Amortized Cost			Unrealized Gains			Unrealized Losses				Fair Value
September 30, 2015
U.S. Treasury, U.S. government corporations and agencies		$	3,796		$	24		$	(1	)		$	3,819
States, municipalities and political subdivisions			1,788			82			(2	)			1,868
Foreign governments			11,415			306			(77	)			11,644
Corporate bonds			7,359			778			(21	)			8,116
Mortgage-backed securities			1,526			191			(4	)			1,713

		$	25,884		$	1,381		$	(105	)		$	27,160

December 31, 2014
U.S. Treasury, U.S. government corporations and agencies		$	2,921		$	14		$	(5	)		$	2,930
States, municipalities and political subdivisions			1,820			93			(1	)			1,912
Foreign governments			12,023			373			(126	)			12,270
Corporate bonds			7,704			1,072			(5	)			8,771
Mortgage-backed securities			1,555			202			(4	)			1,753

		$	26,023		$	1,754		$	(141	)		$	27,636

Investments in fixed maturity securities are reflected in our Consolidated Balance Sheets as follows (in millions).


	September 30, 2015			December 31, 2014
Insurance and other		$	27,119		$	27,397
Finance and financial products			41			239

		$	27,160		$	27,636

Investments in foreign government securities include securities issued by national and provincial government entities as well as instruments that are unconditionally guaranteed by such entities. As of September 30, 2015, approximately 94% of foreign government holdings were rated AA or higher by at least one of the major rating agencies. Approximately 75% of foreign government holdings were issued or guaranteed by the United Kingdom, Germany, Australia, Canada or The Netherlands. Unrealized losses on all fixed maturity investments in a continuous unrealized loss position for more than twelve consecutive months were $10 million as of September 30, 2015 and $15 million as of December 31, 2014.

The amortized cost and estimated fair value of securities with fixed maturities at September 30, 2015 are summarized below by contractual maturity dates. Actual maturities will differ from contractual maturities because issuers of certain of the securities retain early call or prepayment rights. Amounts are in millions.


	Due in one year or less		Due after one year through five years		Due after five years through ten years		Due after ten years		Mortgage-backed securities		Total
Amortized cost		$8,103		$11,635		$1,897		$2,723		$1,526		$25,884
Fair value		8,112		12,134		2,024		3,177		1,713		27,160