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OTHER COMPREHENSIVE INCOME (LOSS) | 12 Months Ended
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Dec. 31, 2019
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 |  | Income tax (expense) benefit |  | Net of tax amount |
| Year ended December 31, 2019 |  |  |  |  |  |
| Available for sale investments: |  |  |  |  |  |
| Unrealized gains (loss) arising during the year | $ | 414,982 |  |  | $ | (40,367 | ) |  | $ | 374,615 |  |
| Adjustment for reclassification of net realized (gains) losses and OTTI losses recognized in net income | (29,618 | ) |  | 4,889 |  |  | (24,729 | ) |
| Unrealized gains (losses) arising during the year, net of reclassification adjustment | 385,364 |  |  | (35,478 | ) |  | 349,886 |  |
| Foreign currency translation adjustment | (1,066 | ) |  | — |  |  | (1,066 | ) |
| Total other comprehensive income (loss), net of tax | $ | 384,298 |  |  | $ | (35,478 | ) |  | $ | 348,820 |  |
| Year ended December 31, 2018 |  |  |  |  |  |
| Available for sale investments: |  |  |  |  |  |
| Unrealized gains (losses) arising during the year | $ | (297,259 | ) |  | $ | 5,528 |  |  | $ | (291,731 | ) |
| Adjustment for reclassification of net realized (gains) losses and OTTI losses recognized in net income | 105,730 |  |  | (4,828 | ) |  | 100,902 |  |
| Unrealized gains (losses) arising during the year, net of reclassification adjustment (1) | (191,529 | ) |  | 700 |  |  | (190,829 | ) |
| 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 gains (losses) arising during the year | $ | 211,151 |  |  | $ | (5,732 | ) |  | $ | 205,419 |  |
| Adjustment for reclassification of net realized (gains) losses and OTTI losses recognized in net loss | (33,892 | ) |  | 758 |  |  | (33,134 | ) |
| Unrealized gains (losses) arising during the year, net of reclassification adjustment | 177,259 |  |  | (4,974 | ) |  | 172,285 |  |
| Foreign currency translation adjustment | 41,938 |  |  | — |  |  | 41,938 |  |
| Total other comprehensive income (loss), net of tax | $ | 219,197 |  |  | $ | (4,974 | ) |  | $ | 214,223 |  |
(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 details of amounts reclassified from accumulated other comprehensive income ("AOCI") to net income (loss):
|  |  | Amounts reclassified from AOCI(1) |
| AOCI components | Consolidated statement of operations line item that includes reclassification adjustment | Years ended December 31, |
| 2019 |  | 2018 |  | 2017 |  |
| Unrealized gains (losses) on available for sale investments |  |  |  |  |  |  |  |
|  | Other realized gains (losses) | $ | 36,602 |  |  | $ | (95,997 | ) |  | $ | 48,385 |  |  |
|  | OTTI losses | (6,984 | ) |  | (9,733 | ) |  | (14,493 | ) |  |
|  | Total before tax | 29,618 |  |  | (105,730 | ) |  | 33,892 |  |  |
|  | Income tax (expense) benefit | (4,889 | ) |  | 4,828 |  |  | (758 | ) |  |
|  | Net of tax | $ | 24,729 |  |  | $ | (100,902 | ) |  | $ | 33,134 |  |  |
| Foreign currency translation adjustments |  |  |  |  |  |  |  |
|  | Foreign exchange gains (losses) | $ | 6,043 |  |  | $ | — |  |  | $ | (24,149 | ) |  |
|  | Income tax (expense) benefit | — |  |  | — |  |  | — |  |  |
|  | Net of tax | $ | 6,043 |  |  | $ | — |  |  | $ | (24,149 | ) |  |
(1) | Amounts in parentheses are charges to net income (loss)
The Company released the cumulative translation adjustment related to Aviabel Re S.A of $6 million from AOCI in the consolidation balance sheet to foreign exchange losses (gains) in the consolidated statement of operations associated with the liquidation of that entity on December 18, 2019. 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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- References No definition available. + Details
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