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RESERVE FOR LOSSES AND LOSS EXPENSES (DETAILS) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Reconciliation of Beginning and Ending Gross Unpaid Losses and Loss Expenses    
Gross reserve for losses and loss expenses, beginning of period $ 9,582,140 $ 9,058,731
Less reinsurance recoverable on unpaid losses, beginning of period (1,900,112) (1,825,617)
Net reserve for unpaid losses and loss expenses, beginning of period 7,682,028 7,233,114
Net incurred losses and loss expenses related to:    
Current year 587,700 492,913
Prior years (43,493) (54,499)
Net incurred losses and loss expenses 544,207 438,414
Net paid losses and loss expenses related to:    
Current year (13,249) (10,846)
Prior years (444,466) (358,964)
Net paid losses and loss expenses (457,715) (369,810)
Foreign exchange and other 14,501 (85,276)
Net reserve for unpaid losses and loss expenses, end of period 7,783,021 7,216,442
Reinsurance recoverable on unpaid losses, end of period 1,884,820 1,881,261
Gross reserve for losses and loss expenses, end of period $ 9,667,841 $ 9,097,703