Revenues for the year ended December 31, 2013, decreased $205.6 million, or 20.6%, to $791.2 million, from $996.8 million for the comparable period in 2012. This decrease primarily reflects reduced premium levels and a decrease in net realized gains.
Net realized gains decreased by $47.5 million, to a $7.8 million gain for the year ended December 31, 2013, from a $55.3 million gain for the comparable period in 2012. The decrease in realized gains relates to the fourth quarter 2012 sale of a portion of our bond portfolio in order to generate realized gains and enhance the statutory surplus of our Insurance Company Subsidiaries.
The following table shows prior year development allocated to the related accident years:
A significant portion of our consolidated assets represents assets of our Insurance Company Subsidiaries that may not be transferable to the holding company in the form of dividends, loans or advances in accordance with state insurance laws. These laws generally specify that dividends can be paid only from unassigned surplus and only to the extent that all dividends in the current twelve months do not exceed the greater of 10% of total statutory surplus as of the end of the prior fiscal year or 100% of the statutory net income for the prior year, less any dividends paid in the prior twelve months. Using these criteria, the available ordinary dividend available to be paid from the Insurance Company Subsidiaries during 2013 was $42.6 million without prior regulatory approval. Of this $42.6 million, ordinary dividends of $14.0 million were declared and paid as of December 31, 2013. In addition to ordinary dividends, the Insurance Company Subsidiaries had the capacity to pay $127.3 million of extraordinary dividends in 2013, subject to prior regulatory approval. The ability to pay ordinary and extraordinary dividends must be reviewed in relation to the impact on key financial measurement ratios, including Risk Based Capital (RBC) ratios (all of which were above any regulatory action levels, refer to Note 8 ~ Regulatory Matters and Rating Issues for further details) and BCAR. The Insurance Company Subsidiaries’ ability to pay future dividends without advance regulatory approval is dependent upon maintaining a positive level of unassigned surplus, which in turn, is dependent upon the Insurance Company Subsidiaries generating net income. Total ordinary dividends paid from our Insurance Company Subsidiaries to our holding company were $14.0 million and $12.5 million for the years ended December 31, 2013 and 2012, respectively. As of December 31, 2013, we had non-regulated cash and cash equivalents of $94.8 million and non-regulated working capital of $12.2 million. As of December 31, 2013, on a trailing twelve month statutory consolidated basis, the gross and net premium leverage ratios were 1.9 to 1.0 and 1.4 to 1.0, respectively.
(5) The Change in Adjusted Policyholders’ Surplus ratio measures the overall change in surplus over a one-year period, adjusted for the removal of any capital transaction, in order to measure the impact of operations on ending policyholders’ surplus levels. This ratio was just outside the usual range in calendar year 2013 for Savers, Ameritrust and Williamsburg. In 2013, after excluding the capital paid in transactions to the three noted subsidiaries, this ratio fell outside the usual range due to the statutory net loss reported for the year related to the reported adverse prior year development.