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OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
TAX EFFECTS ALLOCATED TO EACH COMPONENT OF 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.
RECLASSIFICATIONS OUT OF AOCI INTO NET INCOME AVAILABLE TO COMMON SHAREHOLDERS
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)