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OTHER COMPREHENSIVE INCOME (LOSS) | 12 Months Ended
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Dec. 31, 2018
Equity [Abstract] |
OTHER COMPREHENSIVE INCOME (LOSS) | The following table presents the tax effects allocated to each component of other comprehensive income (loss):
|  | Before tax amount |  | Tax (expense) benefit |  | Net of tax amount |
| Year ended December 31, 2018 |  |  |  |  |  |
| Available for sale investments: |  |  |  |  |  |
| Unrealized investment gains (losses) arising during the year | $ | (297,259 | ) |  | $ | 5,528 |  |  | $ | (291,731 | ) |
| Adjustment for reclassification of net realized investment (gains) losses and OTTI losses recognized in net income | 105,730 |  |  | (4,828 | ) |  | 100,902 |  |
| Unrealized investment gains (losses) arising during the year, net of reclassification adjustment (1) | (191,529 | ) |  | 700 |  |  | (190,829 | ) |
| Non-credit portion of OTTI losses | — |  |  | — |  |  | — |  |
| Foreign currency translation adjustment | (11,165 | ) |  | — |  |  | (11,165 | ) |
| Total other comprehensive income (loss), net of tax | $ | (202,694 | ) |  | $ | 700 |  |  | $ | (201,994 | ) |
| Year ended December 31, 2017 |  |  |  |  |  |
| Available for sale investments: |  |  |  |  |  |
| Unrealized investment gains (losses) arising during the year | $ | 211,151 |  |  | $ | (5,732 | ) |  | $ | 205,419 |  |
| Adjustment for reclassification of net realized investment (gains) losses and OTTI losses recognized in net income | (33,892 | ) |  | 758 |  |  | (33,134 | ) |
| Unrealized investment gains (losses) arising during the year, net of reclassification adjustment | 177,259 |  |  | (4,974 | ) |  | 172,285 |  |
| Non-credit portion of OTTI losses | — |  |  | — |  |  | — |  |
| Foreign currency translation adjustment | 41,938 |  |  | — |  |  | 41,938 |  |
| Total other comprehensive income (loss), net of tax | $ | 219,197 |  |  | $ | (4,974 | ) |  | $ | 214,223 |  |
| Year ended December 31, 2016 |  |  |  |  |  |
| Available for sale investments: |  |  |  |  |  |
| Unrealized investment gains (losses) arising during the year | $ | 10,165 |  |  | $ | (5,093 | ) |  | $ | 5,072 |  |
| Adjustment for reclassification of net realized investment (gains) losses and OTTI losses recognized in net income | 60,423 |  |  | 1,767 |  |  | 62,190 |  |
| Unrealized investment gains (losses) arising during the year, net of reclassification adjustment | 70,588 |  |  | (3,326 | ) |  | 67,262 |  |
| Non-credit portion of OTTI losses | — |  |  | — |  |  | — |  |
| Foreign currency translation adjustment | (638 | ) |  | — |  |  | (638 | ) |
| Total other comprehensive income (loss), net of tax | $ | 69,950 |  |  | $ | (3,326 | ) |  | $ | 66,624 |  |
(1) | Effective January 1, 2018, the Company adopted ASU No. 2016-01. The adoption of this guidance resulted in a cumulative adjustment to reclassify unrealized investment gains on equity securities from accumulated other comprehensive income to retained earnings. Refer to Item 8, Note 2 'Basis of Presentation and Significant Accounting Policies' to the consolidated financial statements for additional information.
The following table presents reclassification amounts from accumulated other comprehensive income ("AOCI") to net income (loss) available (attributable) to common shareholders:
|  |  | Amount reclassified from AOCI(1) |
| Details about AOCI components | Consolidated statement of operations line item that includes reclassification | Year ended December 31, |
| 2018 |  | 2017 |  | 2016 |  |
| Unrealized investment gains (losses) on available for sale investments |  |  |  |  |  |  |  |
|  | Other realized investment gains (losses) | $ | (95,997 | ) |  | $ | 48,385 |  |  | $ | (34,213 | ) |  |
|  | OTTI losses | (9,733 | ) |  | (14,493 | ) |  | (26,210 | ) |  |
|  | Total before tax | (105,730 | ) |  | 33,892 |  |  | (60,423 | ) |  |
|  | Income tax (expense) benefit | 4,828 |  |  | (758 | ) |  | (1,767 | ) |  |
|  | Net of tax | $ | (100,902 | ) |  | $ | 33,134 |  |  | $ | (62,190 | ) |  |
| Foreign currency translation adjustments |  |  |  |  |  |  |  |
|  | Foreign exchange loss | $ | — |  |  | $ | (24,149 | ) |  | $ | — |  |  |
|  | Income tax (expense) benefit | — |  |  | — |  |  | — |  |  |
|  | Net of tax | $ | — |  |  | $ | (24,149 | ) |  | $ | — |  |  |
(1) | Amounts in parentheses are charges to net income (loss) available (attributable) to common shareholders
On March 27, 2017, as part of the wind down of the Company's Australia operation, the Australia Prudential Regulation Authority revoked the authorization of AXIS Specialty Australia to carry on insurance business in Australia. As this resulted in the substantial liquidation of AXIS Specialty Australia, the Company released the cumulative translation adjustment related to AXIS Specialty Australia of $24 million from AOCI in the consolidation balance sheet to foreign exchange losses (gains) in the consolidated statement of operations.

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 + Details
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