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SEGMENT INFORMATION (DETAILS)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2015
USD ($)
Sep. 30, 2015
USD ($)
Jun. 30, 2015
USD ($)
Mar. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Sep. 30, 2014
USD ($)
Jun. 30, 2014
USD ($)
Mar. 31, 2014
USD ($)
Dec. 31, 2015
USD ($)
reportable_segment
Dec. 31, 2014
USD ($)
Dec. 31, 2013
USD ($)
Segment Information [Line Items]                      
Number of reportable segments | reportable_segment                 2    
Gross premiums written                 $ 4,603,730 $ 4,711,519 $ 4,697,041
Net premiums written                 3,674,666 3,906,975 3,928,200
Net premiums earned $ 921,812 $ 919,341 $ 941,211 $ 904,053 $ 958,517 $ 966,138 $ 1,000,400 $ 945,949 3,686,417 3,870,999 3,707,065
Other insurance related income (loss)                 (2,953) 650 4,424
Net losses and loss expenses                 (2,176,199) (2,186,722) (2,134,195)
Acquisition costs                 (718,112) (737,197) (664,191)
General and administrative expenses                 (596,821) (621,876) (575,390)
Underwriting income 88,358 56,245 56,848 100,790 112,720 113,464 126,581 108,766      
Net investment income 79,000 45,685 88,544 92,107 78,595 66,562 114,867 82,744 305,336 342,766 409,312
Net realized investment gains (losses) (14,872) $ (69,957) $ (11,110) $ (42,553) 10,779 $ 77,448 $ 33,261 $ 10,620 (138,491) 132,108 75,564
Foreign exchange (losses) gains                 102,312 104,439 (26,143)
Interest expense and financing costs                 (50,963) (74,695) (61,979)
Termination fee received                 280,000 0 0
Reorganization and related expenses                 (45,867) 0 0
Income before income taxes                 $ 644,659 $ 830,472 $ 734,467
Net loss and loss expense ratio                 59.00% 56.50% 57.60%
Acquisition cost ratio                 19.50% 19.00% 17.90%
General and administrative expense ratio                 16.20% 16.10% 15.50%
Combined ratio                 94.70% 91.60% 91.00%
Goodwill and intangible assets 86,858       88,960       $ 86,858 $ 88,960 $ 89,528
Insurance [Member]                      
Segment Information [Line Items]                      
Net premiums earned                 1,798,191 1,830,544 1,722,762
Reinsurance [Member]                      
Segment Information [Line Items]                      
Net premiums earned                 1,888,226 2,040,455 1,984,303
Operating Segments [Member]                      
Segment Information [Line Items]                      
Gross premiums written                 4,603,730 4,711,519 4,697,041
Net premiums written                 3,674,666 3,906,975 3,928,200
Net premiums earned                 3,686,417 3,870,999 3,707,065
Other insurance related income (loss)                 (2,953) 650 4,424
Net losses and loss expenses                 (2,176,199) (2,186,722) (2,134,195)
Acquisition costs                 (718,112) (737,197) (664,191)
General and administrative expenses                 (486,911) (486,201) (485,134)
Underwriting income                 302,242 461,529 427,969
Operating Segments [Member] | Insurance [Member]                      
Segment Information [Line Items]                      
Gross premiums written                 2,583,081 2,535,415 2,559,138
Net premiums written                 1,759,359 1,779,501 1,813,538
Net premiums earned                 1,798,191 1,830,544 1,722,762
Other insurance related income (loss)                 1,036 (11) 2,436
Net losses and loss expenses                 (1,154,928) (1,131,880) (1,050,402)
Acquisition costs                 (261,208) (278,804) (242,363)
General and administrative expenses                 (341,658) (341,214) (347,684)
Underwriting income                 $ 41,433 $ 78,635 $ 84,749
Net loss and loss expense ratio                 64.20% 61.80% 61.00%
Acquisition cost ratio                 14.50% 15.20% 14.10%
General and administrative expense ratio                 19.10% 18.70% 20.10%
Combined ratio                 97.80% 95.70% 95.20%
Goodwill and intangible assets 86,858       88,960       $ 86,858 $ 88,960 $ 89,528
Operating Segments [Member] | Reinsurance [Member]                      
Segment Information [Line Items]                      
Gross premiums written                 2,020,649 2,176,104 2,137,903
Net premiums written                 1,915,307 2,127,474 2,114,662
Net premiums earned                 1,888,226 2,040,455 1,984,303
Other insurance related income (loss)                 (3,989) 661 1,988
Net losses and loss expenses                 (1,021,271) (1,054,842) (1,083,793)
Acquisition costs                 (456,904) (458,393) (421,828)
General and administrative expenses                 (145,253) (144,987) (137,450)
Underwriting income                 $ 260,809 $ 382,894 $ 343,220
Net loss and loss expense ratio                 54.10% 51.70% 54.60%
Acquisition cost ratio                 24.20% 22.50% 21.30%
General and administrative expense ratio                 7.70% 7.10% 6.90%
Combined ratio                 86.00% 81.30% 82.80%
Goodwill and intangible assets $ 0       $ 0       $ 0 $ 0 $ 0
Corporate, Non-Segment [Member]                      
Segment Information [Line Items]                      
General and administrative expenses                 (109,910) (135,675) (90,256)
Significant Reconciling Items [Member]                      
Segment Information [Line Items]                      
Net investment income                 305,336 342,766 409,312
Net realized investment gains (losses)                 (138,491) 132,108 75,564
Foreign exchange (losses) gains                 102,312 104,439 (26,143)
Interest expense and financing costs                 (50,963) $ (74,695) $ (61,979)
Termination fee received                 280,000    
Reorganization and related expenses                 $ (45,867)