Investment income

6 Months Ended

Jun. 30, 2016

Investments, Debt and Equity Securities [Abstract]

Investment income

Investment income. Gross realized investment and other gains and losses follows:

	For the Three Months Ended   June 30,				For the Six Months Ended   June 30,
	2016		2015		2016		2015
	($000 omitted)
Realized gains	1,139		674		5,076		2,228
Realized losses	(173	)	(285	)	(3,622	)	(688	)
	966		389		1,454		1,540

Expenses assignable to investment income were insignificant. There were no significant investments as of June 30, 2016 that did not produce income during the year.

For the six months ended June 30, 2016, investment and other gains – net included $1.6 million of net realized gains due to changes in the fair values of contingent consideration liabilities associated with certain prior year acquisitions and $0.9 million of net realized gains from the sale of investments available-for-sale, partially offset by $1.2 million of office closure costs. For the six months ended June 30, 2015, investments and other gains - net included $1.4 million of net realized gains from the sale of investments available-for-sale.

Proceeds from the sale of investments available-for-sale follows:

	For the Three Months Ended   June 30,		For the Six Months Ended   June 30,
	2016	2015	2016	2015
	($000 omitted)
Proceeds from sale of investments available-for-sale	21,500	22,035	32,827	45,936