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SEGMENT INFORMATION (DETAILS)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2015
USD ($)
Sep. 30, 2014
USD ($)
Sep. 30, 2015
USD ($)
reportable_segment
Sep. 30, 2014
USD ($)
Dec. 31, 2014
USD ($)
Segment Information [Line Items]          
Number of reportable segments | reportable_segment     2    
Net premiums earned $ 919,341 $ 966,138 $ 2,764,605 $ 2,912,482  
Other insurance related income 1,158 7,702 12,319 12,468  
Net losses and loss expenses (560,387) (552,064) (1,652,868) (1,662,097)  
Acquisition costs (182,744) (185,950) (537,549) (549,848)  
General and administrative expenses (144,727) (152,916) (456,451) (456,725)  
Net investment income 45,685 66,562 226,336 264,171  
Net realized investment gains (losses) (69,957) 77,448 (123,618) 121,329  
Foreign exchange gains 28,088 72,292 69,200 58,353  
Interest expense and financing costs (12,918) (20,344) (38,114) (56,913)  
Termination fee received 280,000 0 280,000 0  
Reorganization and related expenses (45,867) 0 (45,867) 0  
Income before income taxes $ 257,672 $ 278,868 $ 497,993 $ 643,220  
Net loss and loss expense ratio 61.00% 57.10% 59.80% 57.10%  
Acquisition cost ratio 19.90% 19.20% 19.40% 18.90%  
General and administrative expense ratio 15.70% 15.90% 16.50% 15.60%  
Combined ratio 96.60% 92.20% 95.70% 91.60%  
Goodwill and intangible assets $ 87,329 $ 88,740 $ 87,329 $ 88,740 $ 88,960
Operating Segments [Member]          
Segment Information [Line Items]          
Gross premiums written 936,583 896,814 3,803,928 3,949,479  
Net premiums written 677,217 687,223 3,079,307 3,351,958  
Net premiums earned 919,341 966,138 2,764,605 2,912,482  
Other insurance related income 1,158 7,702 12,319 12,468  
Net losses and loss expenses (560,387) (552,064) (1,652,868) (1,662,097)  
Acquisition costs (182,744) (185,950) (537,549) (549,848)  
General and administrative expenses (121,123) (122,362) (372,625) (364,195)  
Underwriting income 56,245 113,464 213,882 348,810  
Operating Segments [Member] | Insurance [Member]          
Segment Information [Line Items]          
Gross premiums written 606,704 555,283 1,970,554 1,911,102  
Net premiums written 381,118 363,571 1,352,122 1,361,351  
Net premiums earned 444,550 461,805 1,344,339 1,368,683  
Other insurance related income 542 0 811 0  
Net losses and loss expenses (283,272) (289,207) (866,580) (859,093)  
Acquisition costs (69,118) (71,264) (200,493) (207,360)  
General and administrative expenses (85,814) (85,750) (261,924) (257,208)  
Underwriting income $ 6,888 $ 15,584 $ 16,153 $ 45,022  
Net loss and loss expense ratio 63.70% 62.60% 64.50% 62.80%  
Acquisition cost ratio 15.50% 15.40% 14.90% 15.20%  
General and administrative expense ratio 19.40% 18.60% 19.50% 18.70%  
Combined ratio 98.60% 96.60% 98.90% 96.70%  
Goodwill and intangible assets $ 87,329 $ 88,740 $ 87,329 $ 88,740  
Operating Segments [Member] | Reinsurance [Member]          
Segment Information [Line Items]          
Gross premiums written 329,879 341,531 1,833,374 2,038,377  
Net premiums written 296,099 323,652 1,727,185 1,990,607  
Net premiums earned 474,791 504,333 1,420,266 1,543,799  
Other insurance related income 616 7,702 11,508 12,468  
Net losses and loss expenses (277,115) (262,857) (786,288) (803,004)  
Acquisition costs (113,626) (114,686) (337,056) (342,488)  
General and administrative expenses (35,309) (36,612) (110,701) (106,987)  
Underwriting income $ 49,357 $ 97,880 $ 197,729 $ 303,788  
Net loss and loss expense ratio 58.40% 52.10% 55.40% 52.00%  
Acquisition cost ratio 23.90% 22.70% 23.70% 22.20%  
General and administrative expense ratio 7.40% 7.30% 7.80% 6.90%  
Combined ratio 89.70% 82.10% 86.90% 81.10%  
Goodwill and intangible assets $ 0 $ 0 $ 0 $ 0  
Corporate, Non-Segment [Member]          
Segment Information [Line Items]          
General and administrative expenses (23,604) (30,554) (83,826) (92,530)  
Significant Reconciling Items [Member]          
Segment Information [Line Items]          
Net investment income 45,685 66,562 226,336 264,171  
Net realized investment gains (losses) (69,957) 77,448 (123,618) 121,329  
Foreign exchange gains 28,088 72,292 69,200 58,353  
Interest expense and financing costs (12,918) (20,344) (38,114) (56,913)  
Termination fee received 280,000 0 280,000 0  
Reorganization and related expenses $ (45,867) $ 0 $ (45,867) $ 0