Company: HUM
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000049071-25-000007
Chunk: 178

Company: HUMANA INC
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7
Chunk 178
---
 31, 2024 and 2023:

12/31/2024Percentageof Total12/31/2023Percentageof Total (dollars in millions)U.S. Treasury and other U.S. government     corporations and agencies:U.S. Treasury and agency obligations$3,227 17.3 %$2,667 15.7 %Mortgage-backed securities3,995 21.4 %3,522 20.7 %Tax-exempt municipal securities526 2.8 %858 5.0 %Mortgage-backed securities:Residential522 2.8 %400 2.4 %Commercial1,206 6.5 %1,345 7.9 %Asset-backed securities1,403 7.5 %1,771 10.4 %Corporate debt securities7,756 41.7 %6,445 37.9 %Total debt securities18,635 100.0 %17,008 100.0 %

Approximately 97% of our debt securities were investment-grade quality, with a weighted average credit rating of AA- by S&P at December 31, 2024. Most of the debt securities that were below investment-grade were rated B+, the higher end of the below investment-grade rating scale. Tax-exempt municipal securities were diversified among general obligation bonds of states and local municipalities in the United States as well as special revenue bonds issued by municipalities to finance specific public works projects such as utilities, water and sewer, transportation, or education. Our general obligation bonds are diversified across the United States with no individual state exceeding approximately 1% of our total debt securities. Our investment policy limits investments in a single issuer and requires diversification among various asset types. 

61

Gross unrealized losses and fair values aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position were as follows at December 31, 2024:

 Less than 12 months12 months or moreTotal FairValueGrossUnrealizedLossesFairValueGrossUnrealizedLossesFairValueGrossUnrealizedLosses (in millions)U.S. Treasury and other U.S. government     corporations and agencies:U.S. Treasury and agency obligations$2,343 $(68)$456 $(42)$2,799 $(110)M