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RESERVE FOR LOSSES AND LOSS EXPENSES (Tables) | 9 Months Ended
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Sep. 30, 2018
Insurance Loss Reserves [Abstract] |
RECONCILIATION OF BEGINNING AND ENDING GROSS RESERVE FOR LOSSES AND LOSS EXPENSES AND NET RESERVE FOR UNPAID LOSSES AND LOSS EXPENSES | The following table presents a reconciliation of the Company's beginning and ending gross reserve for losses and loss expenses and net reserve for unpaid losses and loss expenses for the periods indicated:
|  | Nine months ended September 30, |
|  | 2018 |  | 2017 |
| Gross reserve for losses and loss expenses, beginning of period | $ | 12,997,553 |  |  | $ | 9,697,827 |  |
| Less reinsurance recoverable on unpaid losses, beginning of period | (3,159,514 | ) |  | (2,276,109 | ) |
| Net reserve for unpaid losses and loss expenses, beginning of period | 9,838,039 |  |  | 7,421,718 |  |
| Net incurred losses and loss expenses related to: |  |  |  |
| Current year | 2,323,028 |  |  | 2,591,135 |  |
| Prior years | (160,083 | ) |  | (143,495 | ) |
|  | 2,162,945 |  |  | 2,447,640 |  |
| Net paid losses and loss expenses related to: |  |  |  |
| Current year | (381,158 | ) |  | (328,751 | ) |
| Prior years | (1,770,667 | ) |  | (1,384,510 | ) |
|  | (2,151,825 | ) |  | (1,713,261 | ) |
| Foreign exchange and other | (1,040,999 | ) |  | 333,456 |  |
| Net reserve for unpaid losses and loss expenses, end of period | 8,808,160 |  |  | 8,489,553 |  |
| Reinsurance recoverable on unpaid losses, end of period | 3,217,787 |  |  | 2,298,022 |  |
| Gross reserve for losses and loss expenses, end of period | $ | 12,025,947 |  |  | $ | 10,787,575 |  |
NET PRIOR YEAR RESERVE DEVELOPMENT BY SEGMENT | Prior year reserve development arises from changes to loss and loss expense estimates related to loss events that occurred in previous calendar years. The following table presents prior year reserve development by segment:
|  | Three months ended September 30, |  | Nine months ended September 30, |
|  | 2018 |  | 2017 |  | 2018 |  | 2017 |
| Insurance | $ | 13,478 |  |  | $ | 7,926 |  |  | $ | 60,547 |  |  | $ | 35,579 |  |
| Reinsurance | 32,182 |  |  | 39,842 |  |  | 99,536 |  |  | 107,916 |  |
| Total | $ | 45,660 |  |  | $ | 47,768 |  |  | $ | 160,083 |  |  | $ | 143,495 |  |
SCHEDULE OF THE LINE OF BUSINESS CATEGORIES AND THE EXPECTED CLAIM TAILS | The following tables reconcile reserve classes to the lines of business categories and the expected claim tails:
Insurance Segment |  |  |  |  |  |  |  |
|  | Reported Lines of Business
Reserve Classes | Tail | Property | Marine | Terrorism | Aviation | Credit and Political Risk | Professional Lines | Liability | Accident and Health | Discontinued lines - Novae
Property and Other | Short | X |  | X |  |  |  |  | X | X
Marine | Short |  | X |  |  |  |  |  |  |
Aviation | Short |  |  |  | X |  |  |  |  |
Credit and Political Risk | Medium |  |  |  |  | X |  |  |  |
Professional Lines | Medium |  |  |  |  |  | X |  |  | X
Liability | Long |  |  |  |  |  |  | X |  | X
Reinsurance Segment |  |  |  |  |  |  |  |  |  |
|  | Reported Lines of Business
Reserve Classes | Tail | Catastrophe | Property | Credit and Surety | Professional Lines | Motor | Liability | Engineering | Agriculture | Marine and Other | Accident and Health | Discontinued lines - Novae
Property and Other | Short | X | X |  |  |  |  | X | X | X | X |
Credit and Surety | Medium |  |  | X |  |  |  |  |  |  |  |
Professional Lines | Medium |  |  |  | X |  |  |  |  |  |  |
Motor | Long |  |  |  |  | X |  |  |  |  |  | X
Liability | Long |  |  |  |  |  | X |  |  |  |  | X

X
- Definition Schedule showing, by segment, the provision in the period for claims incurred in prior reporting periods and related claims settlement costs. + References No definition available. + Details
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- Definition Schedule of The Lines of Business Categories and The Expected Claim Tails [Table Text Block] + References No definition available. + Details
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- Definition Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=99382578&loc=d3e14764-158437 + Details
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