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Investment Income and Net Realized and Unrealized Gains and Losses
 12 Months Ended
Dec. 31, 2018
Income Statement [Abstract]  
Investment Income
Net Investment Income - Specialty Insurance

Net investment income represents investment income and expense from investments related to insurance operations as disclosed within net investment income on the consolidated statements of operations. The following tables present the components of net investment income by source of income:
 
Year Ended December 31,
 
2018
 
2017
 
2016
Interest:
 
 
 
 
 
Available for sale securities, at fair value
$
6,560

 
$
3,490

 
$
3,075

Loans, at fair value
10,809

 
11,073

 
7,999

Other investments
1,350

 
566

 
390

Dividends from equity securities
2,092

 
2,043

 
2,981

Other
97

 
800

 
78

Subtotal
20,908

 
17,972

 
14,523

Less: investment expenses
1,729

 
1,686

 
1,542

Net investment income
$
19,179

 
$
16,286

 
$
12,981



Other Investment Income - Tiptree Capital

Other investment income represents other income from other Tiptree non-insurance activities as disclosed within other revenue on the consolidated statements of operations, see Note (15) Other Revenue, Other Expenses and Other Income. The following tables present the components of other investment income by type:

 
Year Ended December 31,
 
2018
 
2017
 
2016
Interest income:
 
 
 
 
 
Loans, at fair value
$
4,343

 
$
3,555

 
$
4,094

Loans at amortized cost, net
—

 
8,368

 
8,440

Other
175

 
184

 
—

Dividends from equity securities
9,224

 
—

 
—

Loan fee income:
 
 
 
 
 
Loans, at fair value
7,827

 
10,596

 
8,651

Loans at amortized cost, net
—

 
3,558

 
4,911

Charter revenue from vessels
3,972

 
—

 
—

Other investment income
$
25,541

 
$
26,261

 
$
26,096



Net realized and unrealized gains (losses)

The following table presents the components of net realized and unrealized gains (losses) recorded on the consolidated statements of operations. Net unrealized gains (losses) on available for sale securities are included within other comprehensive income, and as such, are not included in this table:
 
Year Ended December 31,
 
2018
 
2017
 
2016
Net realized gains (losses)
 
 
 
 
 
Specialty Insurance:
 
 
 
 
 
 Reclass of unrealized gains (losses) on AFS from OCI
$
(819
)
 
$
435

 
$
1,026

 Net gain (loss) on loans
2,071

 
5,380

 
1,380

 Net gain (loss) on equity securities
2,721

 
—

 
—

 Other
1,627

 
—

 
—

Tiptree Capital:
 
 
 
 
 
 Gain on sale of loans
61,147

 
64,296

 
66,999

 Other
(2,084
)
 
(5,686
)
 
1,406

Subtotal
64,663

 
64,425

 
70,811

Net unrealized gains (losses)
 
 
 
 
 
Specialty Insurance:
 
 
 
 
 
 Net change in unrealized gains (losses) on loans
(4,730
)
 
1,435

 
5,063

 Net unrealized gains (losses) on equity securities held at year end
(9,815
)
 
(23,753
)
 
7,293

 Reclass of unrealized (gains) losses from prior periods for equity securities sold
(2,291
)
 
—

 
—

 Other
(428
)
 
—

 
—

Tiptree Capital:
 
 
 
 
 
 Net change in unrealized gains (losses) on loans
194

 
286

 
(638
)
 Net unrealized gains (losses) on equity securities held at year end
(17,134
)
 
—

 
—

 Other
(1,677
)
 
5,214

 
4,771

Subtotal
(35,881
)
 
(16,818
)
 
16,489

Total net realized and unrealized gains (losses)
$
28,782

 
$
47,607

 
$
87,300