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SEGMENT INFORMATION (TABLES) | 6 Months Ended
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Jun. 30, 2016
Segment Reporting [Abstract] |
UNDERWRITING RESULTS OF REPORTABLE SEGMENTS | The following tables summarize the underwriting results of our reportable segments, as well as the carrying values of allocated goodwill and intangible assets:
|  | 2016 |  | 2015 |
| Three months ended and at June 30, | Insurance |  | Reinsurance |  | Total |  | Insurance |  | Reinsurance |  | Total |
| Gross premiums written | $ | 784,017 |  |  | $ | 536,417 |  |  | $ | 1,320,434 |  |  | $ | 761,126 |  |  | $ | 427,287 |  |  | $ | 1,188,413 |  |
| Net premiums written | 526,764 |  |  | 480,586 |  |  | 1,007,350 |  |  | 534,263 |  |  | 412,281 |  |  | 946,544 |  |
| Net premiums earned | 439,279 |  |  | 507,711 |  |  | 946,990 |  |  | 452,322 |  |  | 488,889 |  |  | 941,211 |  |
| Other insurance related income (loss) | (234 | ) |  | (658 | ) |  | (892 | ) |  | 269 |  |  | 3,217 |  |  | 3,486 |  |
| Net losses and loss expenses | (306,141 | ) |  | (326,153 | ) |  | (632,294 | ) |  | (297,534 | ) |  | (282,619 | ) |  | (580,153 | ) |
| Acquisition costs | (61,829 | ) |  | (127,296 | ) |  | (189,125 | ) |  | (66,920 | ) |  | (116,343 | ) |  | (183,263 | ) |
| General and administrative expenses | (82,487 | ) |  | (32,332 | ) |  | (114,819 | ) |  | (88,420 | ) |  | (36,013 | ) |  | (124,433 | ) |
| Underwriting income (loss) | $ | (11,412 | ) |  | $ | 21,272 |  |  | 9,860 |  |  | $ | (283 | ) |  | $ | 57,131 |  |  | 56,848 |  |
| Corporate expenses |  |  |  |  | (31,927 | ) |  |  |  |  |  | (24,049 | ) |
| Net investment income |  |  |  |  | 91,730 |  |  |  |  |  |  | 88,544 |  |
| Net realized investment gains (losses) |  |  |  |  | 21,010 |  |  |  |  |  |  | (11,110 | ) |
| Foreign exchange (losses) gains |  |  |  |  | 56,602 |  |  |  |  |  |  | (22,108 | ) |
| Interest expense and financing costs |  |  |  |  | (12,914 | ) |  |  |  |  |  | (12,939 | ) |
| Income before income taxes |  |  |  |  | $ | 134,361 |  |  |  |  |  |  | $ | 75,186 |  |
| Net loss and loss expense ratio | 69.7 | % |  | 64.2 | % |  | 66.8 | % |  | 65.8 | % |  | 57.8 | % |  | 61.6 | % |
| Acquisition cost ratio | 14.1 | % |  | 25.1 | % |  | 20.0 | % |  | 14.8 | % |  | 23.8 | % |  | 19.5 | % |
| General and administrative expense ratio | 18.7 | % |  | 6.4 | % |  | 15.4 | % |  | 19.5 | % |  | 7.4 | % |  | 15.8 | % |
| Combined ratio | 102.5 | % |  | 95.7 | % |  | 102.2 | % |  | 100.1 | % |  | 89.0 | % |  | 96.9 | % |
| Goodwill and intangible assets | $ | 85,954 |  |  | $ | — |  |  | $ | 85,954 |  |  | $ | 101,053 |  |  | $ | — |  |  | $ | 101,053 |  |
|  | 2016 |  | 2015 |
| Six months ended and at June 30, | Insurance |  | Reinsurance |  | Total |  | Insurance |  | Reinsurance |  | Total |
| Gross premiums written | $ | 1,437,365 |  |  | $ | 1,842,230 |  |  | $ | 3,279,595 |  |  | $ | 1,363,850 |  |  | $ | 1,503,495 |  |  | $ | 2,867,345 |  |
| Net premiums written | 999,926 |  |  | 1,693,230 |  |  | 2,693,156 |  |  | 971,004 |  |  | 1,431,086 |  |  | 2,402,090 |  |
| Net premiums earned | 877,958 |  |  | 971,373 |  |  | 1,849,331 |  |  | 899,789 |  |  | 945,475 |  |  | 1,845,264 |  |
| Other insurance related income (loss) | (96 | ) |  | (998 | ) |  | (1,094 | ) |  | 269 |  |  | 10,893 |  |  | 11,162 |  |
| Net losses and loss expenses | (580,546 | ) |  | (550,710 | ) |  | (1,131,256 | ) |  | (583,307 | ) |  | (509,174 | ) |  | (1,092,481 | ) |
| Acquisition costs | (123,227 | ) |  | (246,534 | ) |  | (369,761 | ) |  | (131,375 | ) |  | (223,430 | ) |  | (354,805 | ) |
| General and administrative expenses | (168,064 | ) |  | (70,345 | ) |  | (238,409 | ) |  | (176,109 | ) |  | (75,393 | ) |  | (251,502 | ) |
| Underwriting income | $ | 6,025 |  |  | $ | 102,786 |  |  | 108,811 |  |  | $ | 9,267 |  |  | $ | 148,371 |  |  | 157,638 |  |
| Corporate expenses |  |  |  |  | (58,239 | ) |  |  |  |  |  | (60,221 | ) |
| Net investment income |  |  |  |  | 140,896 |  |  |  |  |  |  | 180,651 |  |
| Net realized investment losses |  |  |  |  | (45,500 | ) |  |  |  |  |  | (53,662 | ) |
| Foreign exchange gains |  |  |  |  | 55,986 |  |  |  |  |  |  | 41,112 |  |
| Interest expense and financing costs |  |  |  |  | (25,747 | ) |  |  |  |  |  | (25,196 | ) |
| Income before income taxes |  |  |  |  | $ | 176,207 |  |  |  |  |  |  | $ | 240,322 |  |
| Net loss and loss expense ratio | 66.1 | % |  | 56.7 | % |  | 61.2 | % |  | 64.8 | % |  | 53.9 | % |  | 59.2 | % |
| Acquisition cost ratio | 14.0 | % |  | 25.4 | % |  | 20.0 | % |  | 14.6 | % |  | 23.6 | % |  | 19.2 | % |
| General and administrative expense ratio | 19.2 | % |  | 7.2 | % |  | 16.0 | % |  | 19.6 | % |  | 8.0 | % |  | 16.9 | % |
| Combined ratio | 99.3 | % |  | 89.3 | % |  | 97.2 | % |  | 99.0 | % |  | 85.5 | % |  | 95.3 | % |
| Goodwill and intangible assets | $ | 85,954 |  |  | $ | — |  |  | $ | 85,954 |  |  | $ | 101,053 |  |  | $ | — |  |  | $ | 101,053 |  |

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