Note 7. Net Realized Investment Gains (losses)

3 Months Ended

Mar. 31, 2013

Notes

Note 7. Net Realized Investment Gains (losses)

Note 7.                        Net Realized Investment Gains (Losses)

            Net realized investment gains (losses) for the three months ended March 31, 2013 and 2012 are as follows (in thousands):

		Three Months Ended
		March 31,
		2013		2012
Sales of available-for-sale securities:
Fixed maturities	$	4,451	$	1,241
Common stocks		-		-
Preferred stocks		113		(491)
Total sales of available-for-sale securities		4,564		750
Sales of trading securities		36		256
Other gains (losses)		(239)		-
Total realized gains (losses)		4,361		1,006
Unrealized gains (losses) on trading securities:
Available-for-sale securities transferred
to trading category		-		138
Change in unrealized gains (losses) on trading securities		258		(7)
Total unrealized gains (losses)  on trading securities		258		131
Net realized investment gains (losses)	$	4,619	$	1,137

For the three months ended March 31, 2013, the Company realized gross gains of $4,632,000 and realized gross losses of $68,000 on sales of available-for-sale securities. For the three months ended March 31, 2012, the Company realized gross gains of $3,290,000 and realized gross losses of $2,540,000 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 Income. These gains and losses were previously included in accumulated other comprehensive income.