Net realized investment gains 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	$	(4)	$	347	$	152	$	450
Common stock		-		(103)		-		(121)
Preferred stock		(2)		(6)		(2)		(6)
Total sales of available-for-sale securities		(6)		238		150		323

Sales of trading securities		25		-		38		-

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		11		-		(8)		-
Total unrealized gain on trading securities		11		-		12		-

Net realized investment gains	$	30	$	238	$	200	$	323

For the three months and nine months ended September 30, 2012, the Company recorded realized gross gains of $38,000 and $337,000, respectively, and gross losses of $44,000 and $187,000, respectively on available-for-sale securities. For the three months and nine months ended September 30, 2011, the Company recorded realized gross gains of $332,000 and $623,000, respectively, and gross losses of $94,000 and $300,000, respectively on 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.