InvestmentsNet investment income for the quarter of $74 million represented a decrease of $42 million, or 36%, relative to the first quarter of this year, primarily due to a $2 million decline in the market value of our alternative investments ("other investments") this quarter, compared to a $40 million increase in the prior quarter. Compared to the prior year quarter, net investment income for the second quarter was down $26 million, or 26%, due to lower returns from our other investments and from our fixed maturities. Net investment income from fixed maturities was $77 million for the quarter, compared to $80 million in the first quarter of 2012 and $89 million in the second quarter of 2011; the declines were primarily due to lower reinvestment yields, partially offset by a higher average fixed maturity investment balance in the current quarter.
AXIS Capital Reports Second Quarter Operating Income Of $113 Million
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