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FAIR VALUE MEASUREMENTS (DETAILS 3) - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2015 | Dec. 31, 2014
Fixed Maturities [Member] |  |
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items] |  |
Opening Balance | $ 73,631 | $ 34,817
Transfers into Level 3 | 5,072 | 10,572
Transfers out of Level 3 | (57,756) | (6,165)
Included in earnings | (49) | 0
Included in OCI | (457) | 3,636
Purchases | 39,225 | 60,784
Sales | (1,723) | 0
Settlements/ Distributions | (8,503) | (30,013)
Closing Balance | 49,440 | 73,631
Change in unrealized investment gain/(loss) relating to assets held at the reporting date | 0 | 0
Other Investments [Member] |  |
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items] |  |
Opening Balance | 617,844 | 557,055
Transfers into Level 3 | 0 | 12,355
Transfers out of Level 3 | (23,813) | (32,255)
Included in earnings | 18,211 | 48,478
Included in OCI | 0 | 0
Purchases | 83,564 | 75,542
Sales | 0 | 0
Settlements/ Distributions | (60,682) | (43,331)
Closing Balance | 635,124 | 617,844
Change in unrealized investment gain/(loss) relating to assets held at the reporting date | 11,971 | 48,339
Other Assets [Member] |  |
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items] |  |
Opening Balance | 111 | 984
Transfers into Level 3 | 0 | 0
Transfers out of Level 3 | 0 | 0
Included in earnings | 2,480 | 5,112
Included in OCI | 0 | 0
Purchases | 26,865 | 0
Sales | 0 | 0
Settlements/ Distributions | (136) | (5,985)
Closing Balance | 29,320 | 111
Change in unrealized investment gain/(loss) relating to assets held at the reporting date | 3,505 | 101
Total Assets [Member] |  |
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items] |  |
Opening Balance | 691,586 | 592,856
Transfers into Level 3 | 5,072 | 22,927
Transfers out of Level 3 | (81,569) | (38,420)
Included in earnings | 20,642 | 53,590
Included in OCI | (457) | 3,636
Purchases | 149,654 | 136,326
Sales | (1,723) | 0
Settlements/ Distributions | (69,321) | (79,329)
Closing Balance | 713,884 | 691,586
Change in unrealized investment gain/(loss) relating to assets held at the reporting date | 15,476 | 48,440
Total Liabilities [Member] |  |
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items] |  |
Opening Balance | 15,288 | 815
Transfers into Level 3 | 0 | 0
Transfers out of Level 3 | 0 | 0
Included in earnings | (3,208) | 10,604
Included in OCI | 0 | 0
Purchases | 4,795 | 12,715
Sales | 0 | 0
Settlements/ Distributions | (5,938) | (8,846)
Closing Balance | 10,937 | 15,288
Change in unrealized investment gain/(loss) relating to assets held at the reporting date | 8,337 | 6,621
Corporate Debt [Member] | Fixed Maturities [Member] |  |
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items] |  |
Opening Balance | 15,837 | 0
Transfers into Level 3 | 0 | 0
Transfers out of Level 3 | (7,903) | 0
Included in earnings | (49) | 0
Included in OCI | 88 | (95)
Purchases | 39,225 | 15,957
Sales | (1,723) | 0
Settlements/ Distributions | (6,957) | (25)
Closing Balance | 38,518 | 15,837
Change in unrealized investment gain/(loss) relating to assets held at the reporting date | 0 | 0
CMBS [Member] | Fixed Maturities [Member] |  |
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items] |  |
Opening Balance | 17,763 | 4,018
Transfers into Level 3 | 5,072 | 9,447
Transfers out of Level 3 | (9,902) | 0
Included in earnings | 0 | 0
Included in OCI | (647) | 1,381
Purchases | 0 | 5,027
Sales | 0 | 0
Settlements/ Distributions | (1,364) | (2,110)
Closing Balance | 10,922 | 17,763
Change in unrealized investment gain/(loss) relating to assets held at the reporting date | 0 | 0
ABS [Member] | Fixed Maturities [Member] |  |
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items] |  |
Opening Balance | 40,031 | 30,799
Transfers into Level 3 | 0 | 1,125
Transfers out of Level 3 | (39,951) | (6,165)
Included in earnings | 0 | 0
Included in OCI | 102 | 2,350
Purchases | 0 | 39,800
Sales | 0 | 0
Settlements/ Distributions | (182) | (27,878)
Closing Balance | 0 | 40,031
Change in unrealized investment gain/(loss) relating to assets held at the reporting date | 0 | 0
Hedge funds [Member] | Other Investments [Member] |  |
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items] |  |
Opening Balance | 470,918 | 461,055
Transfers into Level 3 | 0 | 12,355
Transfers out of Level 3 | (23,813) | (32,255)
Included in earnings | 16,013 | 24,790
Included in OCI | 0 | 0
Purchases | 42,500 | 19,500
Sales | 0 | 0
Settlements/ Distributions | (30,477) | (14,527)
Closing Balance | 475,141 | 470,918
Change in unrealized investment gain/(loss) relating to assets held at the reporting date | 9,773 | 24,651
Direct Lending Funds [Member] | Other Investments [Member] |  |
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items] |  |
Opening Balance | 54,438 | 22,134
Transfers into Level 3 | 0 | 0
Transfers out of Level 3 | 0 | 0
Included in earnings | 4,509 | 3,515
Included in OCI | 0 | 0
Purchases | 35,564 | 30,101
Sales | 0 | 0
Settlements/ Distributions | (4,391) | (1,312)
Closing Balance | 90,120 | 54,438
Change in unrealized investment gain/(loss) relating to assets held at the reporting date | 4,509 | 3,515
Real Estate Funds [Member] | Other Investments [Member] |  |
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items] |  |
Opening Balance | 0 | 0
Transfers into Level 3 | 0 | 0
Transfers out of Level 3 | 0 | 0
Included in earnings | (571) | 0
Included in OCI | 0 | 0
Purchases | 5,500 | 0
Sales | 0 | 0
Settlements/ Distributions | 0 | 0
Closing Balance | 4,929 | 0
Change in unrealized investment gain/(loss) relating to assets held at the reporting date | (571) | 0
CLO-Equities [Member] | Other Investments [Member] |  |
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items] |  |
Opening Balance | 92,488 | 73,866
Transfers into Level 3 | 0 | 0
Transfers out of Level 3 | 0 | 0
Included in earnings | (1,740) | 20,173
Included in OCI | 0 | 0
Purchases | 0 | 25,941
Sales | 0 | 0
Settlements/ Distributions | (25,814) | (27,492)
Closing Balance | 64,934 | 92,488
Change in unrealized investment gain/(loss) relating to assets held at the reporting date | (1,740) | 20,173
Derivative [Member] | Other Assets [Member] |  |
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items] |  |
Opening Balance | 111 | 984
Transfers into Level 3 | 0 | 0
Transfers out of Level 3 | 0 | 0
Included in earnings | 2,555 | 5,112
Included in OCI | 0 | 0
Purchases | 1,865 | 0
Sales | 0 | 0
Settlements/ Distributions | (136) | (5,985)
Closing Balance | 4,395 | 111
Change in unrealized investment gain/(loss) relating to assets held at the reporting date | 3,580 | 101
Derivative [Member] | Other Liabilities [Member] |  |
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items] |  |
Opening Balance | 15,288 | 815
Transfers into Level 3 | 0 | 0
Transfers out of Level 3 | 0 | 0
Included in earnings | (3,208) | 10,604
Included in OCI | 0 | 0
Purchases | 4,795 | 12,715
Sales | 0 | 0
Settlements/ Distributions | (5,938) | (8,846)
Closing Balance | 10,937 | 15,288
Change in unrealized investment gain/(loss) relating to assets held at the reporting date | 8,337 | 6,621
Insurance-linked Securities [Member] | Other Assets [Member] |  |
Changes in Level 3 Financial Instruments Measured at Fair Value on a Recurring Basis [Line Items] |  |
Opening Balance | 0 | 0
Transfers into Level 3 | 0 | 0
Transfers out of Level 3 | 0 | 0
Included in earnings | (75) | 0
Included in OCI | 0 | 0
Purchases | 25,000 | 0
Sales | 0 | 0
Settlements/ Distributions | 0 | 0
Closing Balance | 24,925 | 0
Change in unrealized investment gain/(loss) relating to assets held at the reporting date | $ (75) | $ 0

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