NOTE 4

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


	For the Three Months Ended March 31,
	2014			2013
	($000 omitted)

Realized gains		384			2,377
Realized losses		(244	)		(5,684	)

		140			(3,307	)

Expenses assignable to investment income were insignificant. There were no significant investments as of March 31, 2014 that did not produce income during the year.

For the three months ended March 31, 2013, investment and other (losses) gains – net included a $5.4 million non-cash charge relating to the early retirement of convertible senior notes offset by a $1.7 million gain on non-title-related insurance policy proceeds.

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


	For the Three Months Ended March 31,
	2014		2013
	($000 omitted)

Proceeds from sales of investments available-for-sale		11,176		8,044