Net realized investment gains (losses) for years 2012, 2011 and 2010 are as follows (in thousands):

		Year Ended
		December 31,
		2012		2011		2010

Available-for-sale securities:
Fixed maturities	$	579	$	737	$	919
Common stock		-		(146)		127
Preferred stock		(4)		(71)		(24)
Total available-for-sale securities		575		520		1,022

Trading securities		9		-		-

Trading account write-off		-		-		(1,266)

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		(1)		-		-
Total unrealized gain on trading securities		19		-		-

Net realized investment gains	$	603	$	520	$	(244)

For the twelve months ended December 31, 2012, the Company recorded realized gross gains of $937,000 and gross losses of $353,000 on sales of available-for-sale securities. For the twelve months ended December 31, 2011, the Company recorded realized gross gains of $1,042,000 and gross losses of $522,000 on sales of available-for-sale securities. For the twelve months ended December 31, 2010, the Company recorded realized gross gains of $1,312,000 and gross losses of $290,000 on sales of available-for-sale securities.

In January 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 Consolidated Statement of Operations. These gains and losses were previously included in accumulated other comprehensive income on the accompanying Consolidated Balance Sheet at December 31, 2011.

In the fourth quarter of 2008, the Company became aware of certain activities engaged in by the non-affiliate broker-dealer that managed a trading account of the Company. Net realized investment losses reported in the accompanying Consolidated Statement of Operations for 2010 includes a loss of $1,266,000 consisting of the reversal of $500,000 of anticipated Securities Investor Protection Corporation (“SIPC”) recoveries initially recorded in 2008 and $766,000 of withdrawals by AMIC deemed subject to return. A settlement agreement was entered into with the trustee in the first quarter of 2011 and payment by the Company was made in the third quarter of 2011.