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DERIVATIVE INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
LOCATION AND AMOUNTS OF DERIVATIVE FAIR VALUES ON THE CONSOLIDATED BALANCE SHEET | The balance sheet classifications of derivatives recorded at fair value are shown in the following table.
|  | At December 31, 2018 |  | At December 31, 2017 |
|  | Derivative notional amount |  | Asset derivative fair value(1) |  | Liability derivative fair value(1) |  | Derivative notional amount |  | Asset derivative fair value(1) |  | Liability derivative fair value(1) |
| Relating to investment portfolio: |  |  |  |  |  |  |  |  |  |  |  |
| Foreign exchange forward contracts | $ | 79,336 |  |  | $ | 262 |  |  | $ | 531 |  |  | $ | 137,422 |  |  | $ | 10 |  |  | $ | 619 |  |
| Interest rate swaps | 150,000 |  |  | — |  |  | 1,116 |  |  | 191,000 |  |  | 448 |  |  | 1,556 |  |
| Relating to underwriting portfolio: |  |  |  |  |  |  |  |  |  |  |  |
| Foreign exchange forward contracts | 737,419 |  |  | 7,975 |  |  | 2,576 |  |  | 698,959 |  |  | 4,667 |  |  | 701 |  |
| Other underwriting-related contracts | 85,000 |  |  | — |  |  | 10,299 |  |  | 85,000 |  |  | — |  |  | 11,510 |  |
| Total derivatives |  |  | $ | 8,237 |  |  | $ | 14,522 |  |  |  |  | $ | 5,125 |  |  | $ | 14,386 |  |
(1) | Asset and liability derivatives are classified within other assets and other liabilities in the consolidated balance sheets.
RECONCILIATION OF GROSS DERIVATIVE ASSETS TO NET AMOUNTS PRESENTED IN BALANCE SHEETS | A reconciliation of gross derivative assets and liabilities to the net amounts presented in the consolidated balance sheets, with the difference being attributable to the impact of master netting agreements, is shown in the following table.
|  | December 31, 2018 |  | December 31, 2017 |
|  | Gross amounts | Gross amounts offset | Net amounts(1) |  | Gross amounts | Gross amounts offset | Net amounts(1) |
| Derivative assets | $ | 11,967 |  | $ | (3,730 | ) | $ | 8,237 |  |  | $ | 8,178 |  | $ | (3,053 | ) | $ | 5,125 |  |
| Derivative liabilities | $ | 18,252 |  | $ | (3,730 | ) | $ | 14,522 |  |  | $ | 17,439 |  | $ | (3,053 | ) | $ | 14,386 |  |
(1) | Net asset and liability derivatives are classified within other assets and other liabilities on the consolidated balance sheets.
RECONCILIATION OF GROSS DERIVATIVE LIABILITIES TO NET AMOUNTS PRESENTED IN BALANCE SHEETS | A reconciliation of gross derivative assets and liabilities to the net amounts presented in the consolidated balance sheets, with the difference being attributable to the impact of master netting agreements, is shown in the following table.
|  | December 31, 2018 |  | December 31, 2017 |
|  | Gross amounts | Gross amounts offset | Net amounts(1) |  | Gross amounts | Gross amounts offset | Net amounts(1) |
| Derivative assets | $ | 11,967 |  | $ | (3,730 | ) | $ | 8,237 |  |  | $ | 8,178 |  | $ | (3,053 | ) | $ | 5,125 |  |
| Derivative liabilities | $ | 18,252 |  | $ | (3,730 | ) | $ | 14,522 |  |  | $ | 17,439 |  | $ | (3,053 | ) | $ | 14,386 |  |
(1) | Net asset and liability derivatives are classified within other assets and other liabilities on the consolidated balance sheets.
TOTAL UNREALIZED AND REALIZED GAINS (LOSSES) ON DERIVATIVES NOT DESIGNATED AS HEDGES RECORDED IN EARNINGS | The total unrealized and realized gains (losses) recognized in net income for derivatives not designated as hedges are shown in the following table:
|  | Location of gain (loss) recognized in income on derivative | Amount of gain (loss) recognized in income on derivative |
|  | 2018 |  | 2017 |  | 2016 |
| Relating to investment portfolio: |  |  |  |  |  |  |
| Foreign exchange forward contracts | Net investment gains (losses) | $ | 3,446 |  |  | $ | (6,935 | ) |  | $ | 10,929 |  |
| Interest rate swaps | Net investment gains (losses) | 1,999 |  |  | (1,334 | ) |  | — |  |
| Relating to underwriting portfolio: |  |  |  |  |  |  |
| Foreign exchange forward contracts | Foreign exchange gains (losses) | (3,509 | ) |  | 25,383 |  |  | (8,179 | ) |
| Weather-related contracts | Other insurance related income (losses) | — |  |  | (9,629 | ) |  | 4,910 |  |
| Commodity contracts | Other insurance related income (losses) | — |  |  | — |  |  | (2,382 | ) |
| Other underwriting-related contracts | Other insurance related income (losses) | 2,384 |  |  | 1,476 |  |  | — |  |
| Total |  | $ | 4,320 |  |  | $ | 8,961 |  |  | $ | 5,278 |  |

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