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The following table summarizes our ceded premiums and RIF ceded through the Reinsurance Transactions and other reinsurance arrangements (excluding Smart Home transactions). Unless otherwise noted, direct RIF includes the amounts ceded through reinsurance. 

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(1) Insurance in force on captives as a percentage of total insurance in force. 

(2) RIF on captives as a percentage of total RIF . 

(3) RIF ceded under QSR transactions and included in primary RIF . 

Net Investment Income. Our mortgage insurancenet investment income decreased in 2012 compared to 2011, and in 2011 compared to 2010, primarily due to a decline in our total investment balance resulting from negative cash flows, as well as a shift from higher yielding securities in our investment portfolio to lower yielding investments. Our allocation to short-term and short duration investments remains high in anticipation of elevated near -term claim payments in our mortgage insurance segment. This allocation, combined with certain sales of securities and subsequent reinvestment of longer duration securities in the low interest rate environment, has resulted in a lower yield profile for the portfolio. All periods include an allocation to the mortgage insurance segment of net investment income from Radian Group based on relative GAAP  equity of the mortgage insurance segment, which decreased in both 2012 and 2011. 

Net Gains on Investments. The components of the net gains on investments for the periods indicated are as follows: 

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