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INCOME TAXES (TABLES) | 12 Months Ended
--- | ---
Dec. 31, 2014
INCOME TAXES [Abstract] |
SCHEDULE OF INCOME TAX EXPENSE AND NET TAX ASSETS [Table Text Block] |
| Year ended December 31, | 2014 |  | 2013 |  | 2012 |
| Current income tax expense (benefit) |  |  |  |  |  |
| United States | $ | 8,411 |  |  | $ | 12,466 |  |  | $ | 4,931 |  |
| Europe | 16,582 |  |  | 9,039 |  |  | 8,566 |  |
| Other | 1 |  |  | — |  |  | (174 | ) |
| Deferred income tax expense (benefit) |  |  |  |  |  |
| United States | 1,313 |  |  | (13,976 | ) |  | (10,749 | ) |
| Europe | (399 | ) |  | (526 | ) |  | 713 |  |
| Other | — |  |  | (1 | ) |  | — |  |
| Total income tax expense | $ | 25,908 |  |  | $ | 7,002 |  |  | $ | 3,287 |  |
| Net current tax receivables (payables) | $ | (11,203 | ) |  | $ | 5,689 |  |  | $ | 1,164 |  |
| Net deferred tax assets | 89,405 |  |  | 80,258 |  |  | 52,794 |  |
| Net tax assets | $ | 78,202 |  |  | $ | 85,947 |  |  | $ | 53,958 |  |
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES [Table Text Block] |
| At December 31, | 2014 |  | 2013 |
| Deferred tax assets: |  |  |  |
| Discounting of loss reserves | $ | 59,852 |  |  | $ | 59,023 |  |
| Unearned premiums | 39,661 |  |  | 39,146 |  |
| Operating loss carryforwards | 26,016 |  |  | 20,316 |  |
| Accruals not currently deductible | 44,082 |  |  | 39,018 |  |
| Other investment adjustments and impairments | 4,001 |  |  | 7,859 |  |
| Tax credits | 15,412 |  |  | 11,886 |  |
| Depreciation | — |  |  | 2,410 |  |
| Other deferred tax assets | 1,324 |  |  | 2,906 |  |
| Deferred tax assets before valuation allowance | 190,348 |  |  | 182,564 |  |
| Valuation allowance | (34,094 | ) |  | (25,542 | ) |
| Deferred tax assets net of valuation allowance | 156,254 |  |  | 157,022 |  |
| Deferred tax liabilities: |  |  |  |
| Deferred acquisition costs | (37,712 | ) |  | (37,226 | ) |
| Net unrealized gains on investments | (12,792 | ) |  | (23,200 | ) |
| Amortization of intangible assets and goodwill | (10,778 | ) |  | (10,059 | ) |
| Accrued market discounts | (707 | ) |  | (1,151 | ) |
| Equalization reserves | (3,554 | ) |  | (2,080 | ) |
| Other deferred tax liabilities | (1,306 | ) |  | (3,048 | ) |
| Deferred tax liabilities | (66,849 | ) |  | (76,764 | ) |
| Net deferred tax assets | $ | 89,405 |  |  | $ | 80,258 |  |
VALUATION ALLOWANCE ROLL FORWARD [Table Text Block] |
| At December 31, | 2014 |  | 2013 |
| Income tax expense: |  |  |  |
| Valuation allowance - beginning of year | $ | 27,070 |  |  | $ | 33,933 |  |
| Operating loss carryforwards | 3,044 |  |  | (794 | ) |
| Capital loss carryforwards | 1,262 |  |  | — |  |
| Foreign tax credit | 3,194 |  |  | 1,762 |  |
| Australian CTA and accruals and rate differentials | 1,052 |  |  | — |  |
| Change in investment-related items | (757 | ) |  | (7,831 | ) |
| Valuation allowance - end of year | 34,865 |  |  | 27,070 |  |
| Accumulated other comprehensive income: |  |  |  |
| Valuation allowance - beginning of year | (1,528 | ) |  | (9,359 | ) |
| Change in investment-related items | 757 |  |  | 7,831 |  |
| Valuation allowance - end of year | (771 | ) |  | (1,528 | ) |
| Total valuation allowance - end of year | $ | 34,094 |  |  | $ | 25,542 |  |
EFFECTIVE TAX RATE RECONCILIATION [Table Text Block] |
| Year ended December 31, | 2014 |  | 2013 |  | 2012 |
| Income before income taxes |  |  |  |  |  |
| Bermuda (domestic) | $ | 690,517 |  |  | $ | 625,490 |  |  | $ | 485,613 |  |
| Foreign | 139,955 |  |  | 108,977 |  |  | 64,915 |  |
| Total income before income taxes | $ | 830,472 |  |  | $ | 734,467 |  |  | $ | 550,528 |  |
| Reconciliation of effective tax rate (% of income before income taxes) |  |  |  |  |  |
| Expected tax rate | 0.0 | % |  | 0.0 | % |  | 0.0 | % |
| Foreign taxes at local expected rates: |  |  |  |  |  |
| United States | 1.8 | % |  | 2.1 | % |  | 0.4 | % |
| Europe | 1.5 | % |  | 1.0 | % |  | 1.4 | % |
| Other | — | % |  | 0.3 | % |  | — | % |
| Valuation allowance | 1.1 | % |  | (0.7 | )% |  | 0.6 | % |
| Net tax exempt income | (0.7 | )% |  | (1.3 | )% |  | (1.5 | )% |
| Other | (0.6 | )% |  | (0.4 | )% |  | (0.3 | )% |
| Actual tax rate | 3.1 | % |  | 1.0 | % |  | 0.6 | % |

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