Note 6. Net Realized Investment Gains (losses)

3 Months Ended

Jun. 30, 2012

Note 6. Net Realized Investment Gains (losses):

Note 6. Net Realized Investment Gains (losses)

Note 6.                        Net Realized Investment Gains (Losses)

            Net realized investment gains (losses) for the three months and six months ended June 30, 2012 and 2011 are as follows (in thousands):

		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2012		2011		2012		2011
Sales of available-for-sale securities:
Fixed maturities	$	2,101	$	1,778	$	3,343	$	283
Common stocks		-		19		-		(26)
Preferred stocks		-		86		(491)		1,424
Total sales of available-for-sale securities		2,101		1,883		2,852		1,681
Sales of trading securities		(151)		-		105		-
Total realized gains (losses)		1,950		1,883		2,957		1,681
Unrealized gains (losses) on trading securities:
Available-for-sale securities transferred
to trading category		-		-		138		-
Change in unrealized gains (losses) on trading securities		(100)		-		(108)		-
Total unrealized gains (losses)  on trading securities		(100)		-		30		-
Net realized investment gains (losses)	$	1,850	$	1,883	$	2,987	$	1,681

For the three months and six months ended June 30, 2012, the Company realized gross gains of $2,799,000 and $6,089,000, respectively, and realized gross losses of $698,000 and $3,237,000, respectively, on sales of available-for-sale securities. For the three months and six months ended June 30, 2011, the Company realized gross gains of $3,085,000 and $6,617,000, respectively, and realized gross losses of $1,202,000 and $4,936,000, respectively, on sales of available-for-sale securities.

On January 1, 2012, the Company transferred equity securities previously classified as available-for-sale into the trading category and, as a result, recognized $287,000 of gross gains and $149,000 of gross losses in net realized investment gains on the accompanying Condensed Consolidated Statement of Operations. These gains and losses were previously included in accumulated other comprehensive income on the accompanying Condensed Consolidated Balance Sheet at December 31, 2011.