Note 5 - Net Realized Investment Gains (Losses)

3 Months Ended

Mar. 31, 2012

Cash and Cash Equivalents

Investments in Debt and Equity Instruments, Cash and Cash Equivalents, Unrealized and Realized Gains (Losses) [Text Block]

5.             Net Realized Investment Gains (Losses)

Net realized investment gains (losses) for the three months ended March 31, 2012 and 2011 are as follows (in thousands):

					Three Months Ended
					March 31,
					2012		2011
Sales of available-for-sale securities:
	Fixed maturities			$	69	$	2
	Common stock				-		(17)
			Total sales of available-for-sale securities		69		(15)
Sales of trading securities					34		-
Unrealized gain (loss) on trading securities:
	Available-for-sale securities transferred
		to trading category on January 1, 2012			20		-
	Change in unrealized gain on trading securities				3		-
			Total unrealized gain on trading securities		23		-
Net realized investment gains (losses)				$	126	$	(15)

For the three months ended March 31, 2012, the Company recorded realized gross gains of $119,000 and gross losses of $50,000 on available-for-sale securities.  For the three months ended March 31, 2011, the Company recorded realized gross gains of $91,000 and gross losses of $106,000 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 $42,000 of gross gains and $22,000 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.