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RESERVE FOR LOSSES AND LOSS EXPENSES (DETAILS) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 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     1,855,482 1,759,483
Prior years (64,538) (80,035) (193,385) (176,648)
Net incurred losses and loss expenses     1,662,097 1,582,835
Net paid losses and loss expenses related to:        
Current year     (202,364) (168,564)
Prior years     (1,165,215) (1,028,401)
Net paid losses and loss expenses     (1,367,579) (1,196,965)
Foreign exchange and other     (139,313) (17,265)
Net reserve for unpaid losses and loss expenses, end of period 7,837,233 7,601,719 7,837,233 7,601,719
Reinsurance recoverable on unpaid losses, end of period 1,914,670 1,882,797 1,914,670 1,882,797
Gross reserve for losses and loss expenses, end of period $ 9,751,903 $ 9,484,516 $ 9,751,903 $ 9,484,516