Other Revenues and Expenses

12 Months Ended

Dec. 31, 2012

Other Revenues and Expenses [Abstract]

Other Income and Other Expense Disclosure [Text Block]

Other Revenues and Expenses

Included within other revenues in the accompanying consolidated statements of operations for the years ended December 31, 2012, 2011 and 2010, are gross insurance premium income of $37.0 million, $35.0 million and $3.1 million, which is offset by gross reinsurance premium expense of $37.0 million, $35.0 million, and $3.1 million related to the Luxembourg reinsurance companies.

During June 2008, the Company sold its fractional share ownership of a business aircraft for a net gain of $0.5 million. In the same month, October LLC, a wholly owned subsidiary of the Company, also sold an aircraft through a sale-leaseback transaction. The Company is recognizing a net gain of $2.8 million over a period of sixty-seven months, the term of the lease. During the years ended December 31, 2012, 2011, and 2010, the amount of the gain recognized in other revenue in the accompanying consolidated statements of operations was $0.5 million each year, respectively. In connection with this transaction, the Company was required to maintain minimum assets under management at all times of not less than $6.5 billion. In the event that the Company does not maintain this minimum, the Company shall immediately either a) deposit collateral with a perfected security interest to secure the next twelve months' lease payments (approximately $1.8 million) or b) provide a letter of credit in the same amount. As of and during the years ended December 31, 2012 and 2011 the Company was in compliance with this minimum requirement.

Other expenses, during the years ended December 31, 2012, 2011, and 2010, are primarily the general administrative expenses of operating the various operating company subsidiaries or the Consolidated Funds.