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Investment Income and Net Realized and Unrealized Gains and Losses (Tables)
 12 Months Ended
Dec. 31, 2019
Income Statement [Abstract]  
Investment Income
The following tables present the components of net investment income by source of income:
 
Year Ended December 31,
 
2019
 
2018
 
2017
Interest:
 
 
 
 
 
AFS securities, at fair value
$
8,404

 
$
6,560

 
$
3,490

Loans, at fair value
3,284

 
10,809

 
11,073

Other investments
1,218

 
1,350

 
566

Dividends from equity securities
2,813

 
2,092

 
2,043

Other
—

 
97

 
800

Subtotal
15,719

 
20,908

 
17,972

Less: investment expenses
1,702

 
1,729

 
1,686

Net investment income
$
14,017

 
$
19,179

 
$
16,286



Other Investment Income - Tiptree Capital

Other investment income represents other income from other Tiptree non-insurance activities as disclosed within other revenue on the consolidated statements of operations, see Note (15) Other Revenue, Other Expenses and Other Income. The following tables present the components of other investment income by type:

 
Year Ended December 31,
 
2019
 
2018
 
2017
Interest income:
 
 
 
 
 
Loans, at fair value
$
6,206

 
$
4,343

 
$
3,555

Loans at amortized cost, net
—

 
—

 
8,368

Other
269

 
175

 
184

Dividends from equity securities
10,132

 
9,224

 
—

Loan fee income:
 
 
 
 
 
Loans, at fair value
12,631

 
7,827

 
10,596

Loans at amortized cost, net
—

 
—

 
3,558

Vessel related revenue
16,747

 
3,972

 
—

Other investment income
$
45,985

 
$
25,541

 
$
26,261
Net realized and unrealized gain (losses)
The following table presents the components of net realized and unrealized gains (losses) recorded on the consolidated statements of operations. Net unrealized gains (losses) on AFS securities are included within other comprehensive income, and as such, are not included in this table. Net realized and unrealized gains (losses) on non-investment financial assets and liabilities are included below:
 
Year Ended December 31,
 
2019
 
2018
 
2017
Net realized gains (losses)
 
 
 
 
 
Tiptree Insurance:
 
 
 
 
 
 Reclass of unrealized gains (losses) on AFS securities from OCI
$
1,312

 
$
(819
)
 
$
435

 Net realized gains (losses) on loans
2,100

 
2,071

 
5,380

 Net realized gains (losses) on equity securities
947

 
2,721

 
—

 Other
318

 
1,627

 
—

Tiptree Capital:
 
 
 
 
 
 Net realized gains (losses) on loans
76,020

 
61,147

 
64,296

 Other
(260
)
 
(2,084
)
 
(5,686
)
Total net realized gains (losses)
80,437

 
64,663

 
64,425

 
 
 
 
 
 
Net unrealized gains (losses)
 
 
 
 
 
Tiptree Insurance:
 
 
 
 
 
 Net change in unrealized gains (losses) on loans
(3,899
)
 
(4,730
)
 
1,435

 Net unrealized gains (losses) on equity securities held at period end
7,621

 
(9,815
)
 
(23,753
)
 Reclass of unrealized (gains) losses from prior periods for equity securities sold
(807
)
 
(2,291
)
 
—

 Other
(697
)
 
(428
)
 
—

Tiptree Capital:
 
 
 
 
 
 Net change in unrealized gains (losses) on loans
1,823

 
194

 
286

 Net unrealized gains (losses) on equity securities held at period end
(992
)
 
(17,134
)
 
—

 Other
382

 
(1,677
)
 
5,214

Total net unrealized gains (losses)
3,431

 
(35,881
)
 
(16,818
)
Total net realized and unrealized gains (losses)
$
83,868

 
$
28,782

 
$
47,607