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Note 6. Net Realized Investment Gains (losses)
 9 Months Ended
Sep. 30, 2012
Notes  
Note 6. Net Realized Investment Gains (losses)

Note 6.                        Net Realized Investment Gains (Losses)

 

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

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

September 30,

 

September 30,

 

 

2012

 

2011

 

2012

 

2011

 

 

 

 

 

 

 

 

 

Sales of available-for-sale securities:

 

 

 

 

 

 

 

 

   Fixed maturities

$

1,282

$

2,252

$

4,625

$

2,535

   Common stocks

 

-

 

(696)

 

-

 

(722)

   Preferred stocks

 

(76)

 

(632)

 

(567)

 

792

      Total sales of available-for-sale securities

 

1,206

 

924

 

4,058

 

2,605

 

 

 

 

 

 

 

 

 

Sales of trading securities

 

184

 

-

 

289

 

-

      Total realized gains (losses)

 

1,390

 

924

 

4,347

 

2,605

 

 

 

 

 

 

 

 

 

Unrealized gains (losses) on trading securities:

 

 

 

 

 

 

 

 

   Available-for-sale securities transferred

 

 

 

 

 

 

 

 

      to trading category

 

-

 

-

 

138

 

-

   Change in unrealized gains (losses) on trading securities

 

65

 

-

 

(43)

 

-

      Total unrealized gains (losses)  on trading securities

 

65

 

-

 

95

 

-

 

 

 

 

 

 

 

 

 

 

Loss on other investment

 

(444)

 

-

 

(444)

 

-

 

 

 

 

 

 

 

 

 

 

Net realized investment gains (losses)

$

1,011

$

924

$

3,998

$

2,605

 

For the three months and nine months ended September 30, 2012, the Company realized gross gains of $2,170,000 and $8,259,000, respectively, and realized gross losses of $964,000 and $4,201,000, respectively, on sales of available-for-sale securities. For the three months and nine months ended September 30, 2011, the Company realized gross gains of $3,112,000 and $9,730,000, respectively, and realized gross losses of $2,188,000 and $7,125,000, 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.