The cost (amortized cost for fixed maturities and short-term investments), fair value, gross unrealized gains and gross unrealized (losses), including, OTTI recorded in accumulated other comprehensive income (“AOCI”) of the Company's available for sale (“AFS”) and held to maturity (“HTM”) investments at December 31, 2012 and December 31, 2011 were as follows:

				Included in AOCI
						Gross
						Unrealized
						Losses
						Related to
		Cost or		Gross		Changes in				Non-credit
December 31, 2012		Amortized		Unrealized		Estimated				Related
(U.S. dollars in thousands)		Cost		Gains		Fair Value		Fair Value		OTTI (1)
Fixed maturities - AFS
	U.S. Government and Government- Related/Supported (2)	$	1,906,044	$	131,860	$	(3,287)	$	2,034,617	$	-
	Corporate (3) (4) (5)		9,837,962		723,028		(78,990)		10,482,000		(11,453)
	RMBS – Agency		5,054,097		206,931		(5,535)		5,255,493		-
	RMBS – Non-Agency		678,469		46,132		(76,868)		647,733		(93,259)
	CMBS		1,010,794		70,745		(4,288)		1,077,251		(2,962)
	CDO		784,999		11,973		(87,156)		709,816		(4,872)
	Other asset-backed securities (3)		1,426,483		59,663		(15,435)		1,470,711		(6,530)
	U.S. States and political subdivisions of the States		1,767,669		146,294		(2,946)		1,911,017		-
	Non-U.S. Sovereign Government, Provincial, Supranational and Government-Related/Supported (2)		4,078,289		188,186		(8,193)		4,258,282		-
	Total fixed maturities - AFS	$	26,544,806	$	1,584,812	$	(282,698)	$	27,846,920	$	(119,076)
	Total short-term investments (2)	$	322,563	$	192	$	(52)	$	322,703	$	-
	Total equity securities	$	617,486	$	31,935	$	(62)	$	649,359	$	-
Total investments - AFS		$	27,484,855	$	1,616,939	$	(282,812)	$	28,818,982	$	(119,076)
Fixed maturities - HTM
	U.S. Government and Government- Related/Supported (2)	$	10,788	$	1,651	$	-	$	12,439	$	-
	Corporate (3)		1,425,320		190,871		(794)		1,615,397		-
	RMBS – Non-Agency		83,205		10,502		-		93,707		-
	CMBS		12,751		2,048		-		14,799		-
	Other asset-backed securities (3)		222,340		29,287		(167)		251,460		-
	Non-U.S. Sovereign Government, Provincial, Supranational and Government-Related/Supported (2)		1,060,043		216,679		(1,720)		1,275,002		-
Total investments - HTM		$	2,814,447	$	451,038	$	(2,681)	$	3,262,804	$	-

(1) Represents the non-credit component of OTTI losses, adjusted for subsequent sales of securities. It does not include the change in fair value subsequent to the impairment measurement date.

(2) U.S. Government and Government-Related/Supported, Non-U.S. Sovereign Government, Provincials, Supranationals and Government-Related/Supported and Total short-term investments includes government-related securities with an amortized cost of $1,912.7 million and fair value of $1,988.5 million and U.S. Agencies with an amortized cost of $404.3 million and fair value of $446.7 million.

(3) At December 31, 2012, Covered Bonds within Fixed maturities – AFS with an amortized cost of $605.4 million and a fair value of $647.1 million and Covered Bonds within Fixed maturities – HTM with an amortized cost of $8.4 million and a fair value of $8.6 million have been included within Other asset-backed securities to align the Company's classification to market indices. Covered Bonds were included in Corporate prior to January 1, 2012.

(4) Included within Corporate are certain medium term notes supported primarily by pools of European investment grade credit with varying degrees of leverage. The notes have a fair value of $194.3 million and an amortized cost of $194.8 million. These notes allow the investor to participate in cash flows of the underlying bonds including certain residual values, which could serve to either decrease or increase the ultimate values of these notes.

(5) Included within Corporate are Tier One and Upper Tier Two securities, representing committed term debt and hybrid instruments, which are senior to the common and preferred equities of the financial institutions. These securities have a fair value of $308.5 million and an amortized cost of $327.6 million at December 31, 2012.


				Included in AOCI
						Gross
						Unrealized
						Losses
						Related to
		Cost or		Gross		Changes in				Non-credit
December 31, 2011		Amortized		Unrealized		Estimated				Related
(U.S. dollars in thousands)		Cost		Gains		Fair Value		Fair Value		OTTI (1)
Fixed maturities - AFS
	U.S. Government and Government- Related/Supported (2)	$	1,864,354	$	130,874	$	(4,245)	$	1,990,983	$	-
	Corporate (3) (4) (5)		9,866,677		527,192		(285,247)		10,108,622		(51,666)
	RMBS – Agency		5,189,473		193,782		(3,849)		5,379,406		-
	RMBS – Non-Agency		851,557		19,667		(229,409)		641,815		(116,542)
	CMBS		927,684		56,704		(9,553)		974,835		(7,148)
	CDO		843,553		6,624		(191,575)		658,602		(4,997)
	Other asset-backed securities (3)		1,341,309		30,731		(31,791)		1,340,249		(6,305)
	U.S. States and political subdivisions of the States		1,698,573		101,025		(2,220)		1,797,378		-
	Non-U.S. Sovereign Government, Provincial, Supranational and Government-Related/Supported (2)		3,188,535		127,439		(17,839)		3,298,135		-
	Total fixed maturities - AFS	$	25,771,715	$	1,194,038	$	(775,728)	$	26,190,025	$	(186,658)
	Total short-term investments (2)	$	359,378	$	519	$	(834)	$	359,063	$	-
	Total equity securities	$	480,685	$	27,947	$	(40,435)	$	468,197	$	-
Total investments - AFS		$	26,611,778	$	1,222,504	$	(816,997)	$	27,017,285	$	(186,658)
Fixed maturities - HTM
	U.S. Government and Government- Related/Supported (3)	$	10,399	$	1,510	$	-	$	11,909	$	-
	Corporate (3)		1,290,209		91,313		(14,433)		1,367,089		-
	RMBS – Non-Agency		80,955		6,520		(32)		87,443		-
	Other asset-backed securities (3)		288,741		20,875		(320)		309,296		-
	Non-U.S. Sovereign Government, Provincial, Supranational and Government-Related/Supported (2)		998,674		127,227		(5,950)		1,119,951		-
Total investments - HTM		$	2,668,978	$	247,445	$	(20,735)	$	2,895,688	$	-

(1) Represents the non-credit component of OTTI losses, adjusted for subsequent sales of securities. It does not include the change in fair value subsequent to the impairment measurement date.

(2) U.S. Government and Government-Related/Supported, Non-U.S. Sovereign Government, Provincials, Supranationals and Government-Related/Supported and Total short-term investments includes government-related securities with an amortized cost of $1,878.3 million and fair value of $1,915.6 million and U.S. Agencies with an amortized cost of $494.0 million and fair value of $541.2 million.

(3) Covered Bonds within Fixed maturities – AFS with an amortized cost of $345.4 million and a fair value of $353.9 million and Covered Bonds within Fixed maturities – HTM with an amortized cost of $8.1 million and a fair value of $7.7 million at December 31, 2011 have been reclassified from Corporate to Other asset-backed securities to align the Company's classification to market indices and conform to current period presentation.

(4) Included within Corporate are certain medium term notes supported primarily by pools of European investment grade credit with varying degrees of leverage. The notes have a fair value of $266.0 million and an amortized cost of $297.7 million. These notes allow the investor to participate in cash flows of the underlying bonds including certain residual values, which could serve to either decrease or increase the ultimate values of these notes.

(5) Included within Corporate are Tier One and Upper Tier Two securities, representing committed term debt and hybrid instruments, which are senior to the common and preferred equities of the financial institutions. These securities have a fair value of $386.1 million and an amortized cost of $494.9 million at December 31, 2011.

At December 31, 2012 and December 31, 2011, approximately 2.9% and 2.4%, respectively, of the Company's fixed income investment portfolio at carrying value was invested in securities that were below investment grade or not rated. Approximately 37.7% and 31.4% of the gross unrealized losses in the Company's fixed income securities portfolio at December 31, 2012 and December 31, 2011, respectively, related to securities that were below investment grade or not rated.

During the third quarter of 2011, the Company changed the manner in which it classifies fixed income securities between Fixed maturities and Short-term investments on the balance sheet and the related note disclosure. Short-term investments under the Company's previous classification comprised investments with a remaining maturity of less than one year from the reporting date. Under this prior presentation, longer term securities were reclassified from Fixed maturities to Short-term investments as they neared maturity. Under the Company's new classification, Short-term investments include investments due to mature within one year from the date of purchase and are valued using the same external factors and in the same manner as Fixed maturities. No reclassifications are made between Fixed maturities and Short-term investments subsequent to the initial date of purchase.

This change in classification did not have an impact on the total value of investments available for sale on the balance sheet, nor did it impact the consolidated statements of income, comprehensive income, shareholders' equity or cash flows. The only impact, other than the changes in the balance sheet line items, are changes required within the detailed tables included within this note as well as Note 3, “Fair Value Measurements,” to allocate securities previously classified as Short-term investments under the former practice into the appropriate categories of Fixed maturities within each table to conform to the new accounting presentation for current and comparative periods.

Covered Bonds were included within Corporate securities prior to January 1, 2012. Beginning in 2012, they were classified as Other asset-backed securities to align the Company's classification to market indices. At December 31, 2011, Covered Bonds with a fair value of $353.9 million have been reclassified from Corporate to Other asset-backed securities to conform to current period presentation.

The contractual maturities of AFS and HTM fixed income securities at December 31, 2012 and December 31, 2011 are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

		December 31,2012 (1)				December 31,2011 (1)
		Amortized		Fair		Amortized		Fair
(U.S. dollars in thousands)		Cost		Value		Cost		Value
Fixed maturities - AFS
Due less than one year		$	1,939,803	$	1,952,250	$	2,004,395	$	2,020,361
Due after 1 through 5 years			8,521,090		8,877,512		7,736,717		7,909,354
Due after 5 through 10 years			4,701,391		5,065,158		3,619,141		3,777,073
Due after 10 years			2,427,680		2,790,996		3,257,886		3,488,330
		$	17,589,964	$	18,685,916	$	16,618,139	$	17,195,118
RMBS – Agency			5,054,097		5,255,493		5,189,473		5,379,406
RMBS – Non-Agency			678,469		647,733		851,557		641,815
CMBS			1,010,794		1,077,251		927,684		974,835
CDO			784,999		709,816		843,553		658,602
Other asset-backed securities			1,426,483		1,470,711		1,341,309		1,340,249
Total mortgage and asset-backed securities		$	8,954,842	$	9,161,004	$	9,153,576	$	8,994,907
	Total fixed maturities - AFS	$	26,544,806	$	27,846,920	$	25,771,715	$	26,190,025
Fixed maturities - HTM
Due less than one year		$	36,515	$	37,580	$	11,796	$	11,768
Due after 1 through 5 years			195,121		205,562		122,091		123,871
Due after 5 through 10 years			377,541		420,008		393,865		402,424
Due after 10 years			1,886,974		2,239,688		1,771,530		1,960,886
		$	2,496,151	$	2,902,838	$	2,299,282	$	2,498,949
RMBS – Non-Agency			83,205		93,707		80,955		87,443
CMBS			12,751		14,799		-		-
Other asset-backed securities			222,340		251,460		288,741		309,296
Total mortgage and asset-backed securities		$	318,296	$	359,966	$	369,696	$	396,739
	Total fixed maturities - HTM	$	2,814,447	$	3,262,804	$	2,668,978	$	2,895,688

(1) Included in the table above are Tier One and Upper Tier Two securities, representing committed term debt and hybrid instruments, which are senior to the common and preferred equities of the financial institutions, at their fair value of $308.5 million and $386.1 million at December 31, 2012 and December 31, 2011, respectively. These securities are reflected in the table based on their call date and have net unrealized losses of $19.1 million and $108.8 million at December 31, 2012 and December 31, 2011, respectively.

Under final authoritative accounting guidance, a debt security for which amortized cost exceeds fair value is deemed to be other-than-temporarily impaired if it meets either of the following conditions: (a) the Company intends to sell, or it is more likely than not that the Company will be required to sell, the security before a recovery in value, or (b) the Company does not expect to recover the entire amortized cost basis of the security. Other than in a situation in which the Company has the intent to sell a debt security or more likely than not will be required to sell a debt security, the amount of the OTTI related to a credit loss on the security is recognized in earnings, and the amount of the OTTI related to other factors (e.g., interest rates, market conditions, etc.) is recorded as a component of OCI. The net amount recognized in earnings (“credit loss impairment”) represents the difference between the amortized cost of the security and the net present value of its projected future cash flows discounted at the effective interest rate implicit in the debt security prior to impairment (“NPV”). The remaining difference between the security's NPV and its fair value is recognized in OCI. Subsequent changes in the fair value of these securities are included in OCI unless a further impairment is deemed to have occurred.

In the scenario where the Company has the intent to sell a security in which its amortized cost exceeds its fair value, or it is more likely than not it will be required to sell such a security, the entire difference between the security's amortized cost and its fair value is recognized in earnings.

The determination of credit losses is based on detailed analyses of underlying cash flows. Such analyses require the use of certain assumptions to develop the estimated performance of underlying collateral. Key assumptions used include, but are not limited to, items such as RMBS default rates based on collateral duration in arrears, severity of losses on default by collateral class, collateral reinvestment rates and expected future general corporate default rates.

Factors considered for all securities on a quarterly basis in determining that a gross unrealized loss is not other-than-temporarily impaired include management's consideration of current and near term liquidity needs and other available sources of funds, an evaluation of the factors and time necessary for recovery and an assessment of whether the Company has the intention to sell or considers it more likely than not that it will be forced to sell a security.

Certain of the Company's invested assets are held in trust and pledged in support of insurance and reinsurance liabilities as well as credit facilities. Such pledges are largely required by the Company's operating subsidiaries that are “non-admitted” under U.S. state insurance regulations, in order for the U.S. cedant to receive statutory credit for reinsurance. Also, certain deposit liabilities and annuity contracts require the use of pledged assets. At December 31, 2012 and December 31, 2011, the Company had $16.9 billion and $17.2 billion in pledged assets, respectively.

The following is an analysis of how long the AFS and HTM securities at December 31, 2012 and December 31, 2011 had been in a continual unrealized loss position:

						Equal to or greater
		Less than 12 months				than 12 months
				Gross				Gross
December 31, 2012		Fair		Unrealized		Fair		Unrealized
(U.S. dollars in thousands)		Value		Losses		Value		Losses
Fixed maturities and short-term investments - AFS
	U.S. Government and Government-Related/Supported	$	307,879	$	(2,847)	$	9,951	$	(471)
	Corporate (1) (2) (3)		476,454		(10,603)		607,796		(68,387)
	RMBS – Agency		578,823		(4,541)		11,135		(994)
	RMBS – Non-Agency		6,674		(450)		448,555		(76,418)
	CMBS		92,899		(666)		23,580		(3,622)
	CDO		243		(1)		694,351		(87,155)
	Other asset-backed securities (3)		111,431		(531)		93,388		(14,904)
	U.S. States and political subdivisions of the States		77,273		(1,407)		12,851		(1,539)
	Non-U.S. Sovereign Government, Provincial, Supranational and Government-Related/Supported		355,409		(1,378)		131,884		(6,836)
Total fixed maturities and short-term investments - AFS		$	2,007,085	$	(22,424)	$	2,033,491	$	(260,326)
Total equity securities (4)		$	615	$	(62)	$	-	$	-
Fixed maturities -HTM
	Corporate (3)	$	4,568	$	(31)	$	23,005	$	(763)
	Other asset-backed securities (3)		1,239		(167)		-		-
	Non-U.S. Sovereign Government, Provincial, Supranational and Government-Related/Supported		-		-		10,518		(1,720)
Total fixed maturities - HTM		$	5,807	$	(198)	$	33,523	$	(2,483)

(1) Included within Corporate are certain medium term notes supported primarily by pools of European investment grade credit with varying degrees of leverage. The notes, which are in a gross unrealized loss position, have a fair value of $194.3 million and an amortized cost of $194.8 million. These notes allow the investor to participate in cash flows of the underlying bonds including certain residual values, which could serve to either decrease or increase the ultimate values of these notes.

(2) Included within Corporate are Tier One and Upper Tier Two securities, representing committed term debt and hybrid instruments, which are senior to the common and preferred equities of the financial institutions. These securities, which are in a gross unrealized loss position, have a fair value of $308.5 million and an amortized cost of $327.6 million at December 31, 2012.

(3) Covered Bonds within Fixed maturities and short-term investments – AFS with a fair value of $647.1 million and Covered Bonds within Fixed Maturities – HTM with a fair value of $8.6 million have been included within Other asset-backed securities to align the Company's classification to market indices. Covered Bonds were included in Corporate prior to January 1, 2012.

(4) Included within equity securities are investments in fixed income funds with a fair value of $101.9 million and an amortized cost of $100.0 million at December 31, 2012.

						Equal to or greater
		Less than 12 months				than 12 months
				Gross				Gross
December 31, 2011		Fair		Unrealized		Fair		Unrealized
(U.S. dollars in thousands)		Value		Losses		Value		Losses
Fixed maturities and short-term investments - AFS
	U.S. Government and Government-Related/Supported	$	289,260	$	(332)	$	43,622	$	(3,984)
	Corporate (1) (2) (3)		1,078,664		(42,151)		1,185,535		(243,683)
	RMBS – Agency		310,318		(849)		36,960		(3,000)
	RMBS – Non-Agency		106,294		(31,714)		449,138		(197,695)
	CMBS		69,109		(2,716)		39,444		(6,837)
	CDO		3,357		(2,261)		636,362		(189,456)
	Other asset-backed securities (3)		227,098		(3,324)		161,312		(28,467)
	U.S. States and political subdivisions of the States		25,309		(199)		27,646		(2,021)
	Non-U.S. Sovereign Government, Provincial, Supranational and Government-Related/Supported		265,766		(4,707)		202,890		(13,166)
Total fixed maturities and short-term investments - AFS		$	2,375,175	$	(88,253)	$	2,782,909	$	(688,309)
Total equity securities (4)		$	361,585	$	(40,435)	$	-	$	-
Fixed maturities -HTM
	Corporate (3)	$	147,836	$	(7,770)	$	62,343	$	(6,663)
	RMBS – Non-Agency		9,372		(32)		-		-
	Other asset-backed securities (3)		7,743		(314)		1,106		(6)
	Non-U.S. Sovereign Government, Provincial, Supranational and Government-Related/Supported		79,242		(1,206)		18,330		(4,744)
Total fixed maturities - HTM		$	244,193	$	(9,322)	$	81,779	$	(11,413)

(1) Included within Corporate are certain medium term notes supported primarily by pools of European investment grade credit with varying degrees of leverage. The notes, which are in a gross unrealized loss position, have a fair value of $266.0 million and an amortized cost of $297.7 million. These notes allow the investor to participate in cash flows of the underlying bonds including certain residual values, which could serve to either decrease or increase the ultimate values of these notes.

(2) Included within Corporate are Tier One and Upper Tier Two securities, representing committed term debt and hybrid instruments, which are senior to the common and preferred equities of the financial institutions. These securities, which are in a gross unrealized loss position, have a fair value of $386.1 million and an amortized cost of $494.9 million at December 31, 2011.

(3) Covered Bonds within Fixed maturities and short-term investments – AFS with a fair value of $353.9 million and Covered Bonds within Fixed Maturities – HTM with a fair value of $7.7 million have been included within Other asset-backed securities to align the Company's classification to market indices and to conform to current period presentation. Covered Bonds were included in Corporate prior to January 1, 2012.

(4) Included within equity securities are investments in fixed income funds with a fair value of $91.6 million and an amortized cost of $100.0 million at December 31, 2011.

The Company had gross unrealized losses totaling $282.8 million on 1,223 securities out of a total of 7,331 held at December 31, 2012 in its AFS portfolio and $2.7 million on 5 securities out of a total of 206 held in its HTM portfolio, which it considers to be temporarily impaired or with respect to which reflects non-credit losses on OTTI. Individual security positions comprising this balance have been evaluated by management to determine the severity of these impairments and whether they should be considered other-than-temporary. Management believes it is more likely than not that the issuer will be able to fund sufficient principal and interest payments to support the current amortized cost.

Management, in its assessment of whether securities in a gross unrealized loss position are temporarily impaired, as described above, considers the significance of the impairments. At December 31, 2012, the Company had structured securities with gross unrealized losses of $26.0 million, which had a fair value of $10.3 million, and a cumulative fair value decline of greater than 50% of amortized cost. All of these securities are mortgage and asset-backed securities. These greater than 50% impaired securities include gross unrealized losses of $10.6 million on non-Agency RMBS, $14.8 million on Core CDOs and $0.6 million of CMBS holdings.

Net investment income for the years ended December 31 is derived from the following sources:

(U.S. dollars in thousands)	2012		2011		2010
Fixed maturities, short term investments and cash equivalents	$	1,046,255	$	1,178,038	$	1,245,185
Equity securities and other investments		29,807		17,804		20,693
Funds withheld		12,090		12,240		12,738
Total gross investment income		1,088,152		1,208,082		1,278,616
Investment expenses		(75,804)		(70,313)		(80,578)
Net investment income	$	1,012,348	$	1,137,769	$	1,198,038

The following represents an analysis of net realized gains (losses) and the change in unrealized gains (losses) on investments for the years ended December 31:

(U.S. dollars in thousands)		2012		2011		2010
Net realized gains (losses):
Fixed maturities, short term investments, cash and cash equivalents:
	Gross realized gains	$	163,328	$	185,530	$	133,521
	Gross realized losses on investments sold		(107,033)		(225,360)		(193,396)
	OTTI on investments, net of amounts transferred to other comprehensive income		(74,245)		(159,435)		(197,377)
	Net realized gains (losses)		(17,950)		(199,265)		(257,252)
Equity securities:
	Gross realized gains		42,009		2,194		11,605
	Gross realized losses on investments sold		(7,121)		(4,264)		(11,195)
	OTTI on investments, net of amounts transferred to other comprehensive income		(3,746)		-		-
	Net realized gains (losses)		31,142		(2,070)		410
Other investments:
	Gross realized gains		11,610		18,505		4,889
	Gross realized losses on investments sold		(7,983)		(4,792)		(11,094)
	OTTI on investments, net of amounts transferred to other comprehensive income		(2,721)		(737)		(7,756)
	Net realized gains (losses)		906		12,976		(13,961)
Net realized gains (losses) on investments			14,098		(188,359)		(270,803)
Net realized and unrealized gains (losses) on investment related derivative instruments			(1,228)		(22,981)		(16,321)
Net realized gains (losses) on investments and net realized and unrealized gains (losses) on investment related derivative instruments			12,870		(211,340)		(287,124)
Change in unrealized gains (losses):
Fixed maturities - AFS			884,259		598,542		1,095,762
Fixed maturities - HTM			221,647		212,419		30,039
Equity securities			44,361		(40,518)		22,595
Affiliates and other investments			46,163		25,269		44,314
Net change in unrealized gains (losses) on investments			1,196,430		795,712		1,192,710
Total net realized gains (losses) on investments, net realized and unrealized gains (losses) on investment related derivative instruments, and net change in unrealized gains (losses) on investments		$	1,209,300	$	584,372	$	905,586

The significant components of the net impairment charges of $80.7 million for the year ended December 31, 2012 were:

▪ $48.7 million for structured securities, principally non-Agency RMBS, where we determined that the likely recovery on these securities was below the carrying value and, accordingly, recorded an impairment of the securities to the discounted value of the cash flows expected to be received on these securities.

▪ $19.1 million related to medium term notes backed primarily by European investment grade credit. On certain notes, management concluded that expected future returns on the underlying assets were not sufficient to support the previously reported amortized cost. We also adjusted the estimated remaining holding period of certain notes resulting in a shorter reinvestment spectrum.

▪ $3.7 million related to certain equities as the holdings were in a loss position for more than 11 months.

▪ $5.3 million related to currency losses primarily arising on Swiss franc and U.K. sterling denominated securities held in U.S. dollar portfolios.

The following table sets forth the amount of credit loss impairments on fixed income securities held by the Company as of the dates indicated, for which a portion of the OTTI loss was recognized in OCI, and the corresponding changes in such amounts.


Credit Loss Impairments
(U.S. dollars in thousands)	2012		2011
Balance at January 1,	$	333,379	$	426,372
Credit loss impairment recognized in the current period on securities not previously impaired		13,000		28,910
Credit loss impairments previously recognized on securities which matured, paid down, prepaid or were sold during the period		(114,056)		(209,187)
Credit loss impairments previously recognized on securities impaired to fair value during the period		(271)		-
Additional credit loss impairments recognized in the current period on securities previously impaired		52,869		88,016
Accretion of credit loss impairments previously recognized due to an increase in cash flows expected to be collected		(16,213)		(732)
Balance at December 31,	$	268,708	$	333,379

During the year ended December 31, 2012 and 2011, the $114.1 million and $209.2 million, respectively, of credit loss impairments previously recognized on securities that matured, or were paid down, prepaid or sold, includes $56.9 million and $128.9 million, respectively, of non-Agency RMBS.