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INVESTMENTS (Fixed Maturities) (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019
--- | --- | ---
Fixed maturities |  |
Amortized cost | $ 12,166,126 | $ 12,263,240
Allowance for expected credit losses | (20,019) | 0
Gross unrealized gains | 254,507 | 236,817
Gross unrealized losses | (324,428) | (31,852)
Fair value | 12,076,186 | 12,468,205
U.S. government and agency |  |
Fixed maturities |  |
Amortized cost | 1,787,739 | 2,102,849
Allowance for expected credit losses | 0 | 0
Gross unrealized gains | 78,458 | 16,345
Gross unrealized losses | (57) | (6,313)
Fair value | 1,866,140 | 2,112,881
Non-U.S. government |  |
Fixed maturities |  |
Amortized cost | 613,672 | 564,505
Allowance for expected credit losses | 0 | 0
Gross unrealized gains | 4,147 | 14,535
Gross unrealized losses | (19,178) | (2,448)
Fair value | 598,641 | 576,592
Corporate debt |  |
Fixed maturities |  |
Amortized cost | 4,917,957 | 4,797,384
Allowance for expected credit losses | (19,884) | 0
Gross unrealized gains | 64,712 | 140,426
Gross unrealized losses | (183,033) | (7,556)
Fair value | 4,779,752 | 4,930,254
Agency RMBS |  |
Fixed maturities |  |
Amortized cost | 1,564,292 | 1,570,823
Allowance for expected credit losses | 0 | 0
Gross unrealized gains | 53,183 | 25,215
Gross unrealized losses | (965) | (3,454)
Fair value | 1,616,510 | 1,592,584
CMBS |  |
Fixed maturities |  |
Amortized cost | 1,402,480 | 1,340,156
Allowance for expected credit losses | 0 | 0
Gross unrealized gains | 42,896 | 29,838
Gross unrealized losses | (16,693) | (4,942)
Fair value | 1,428,683 | 1,365,052
Non-agency RMBS |  |
Fixed maturities |  |
Amortized cost | 125,340 | 84,381
Allowance for expected credit losses | (118) | 0
Gross unrealized gains | 1,258 | 1,393
Gross unrealized losses | (3,469) | (852)
Fair value | 123,011 | 84,922
ABS |  |
Fixed maturities |  |
Amortized cost | 1,543,933 | 1,599,867
Allowance for expected credit losses | (17) | 0
Gross unrealized gains | 2,125 | 4,706
Gross unrealized losses | (100,862) | (5,880)
Fair value | 1,445,179 | 1,598,693
Municipals |  |
Fixed maturities |  |
Amortized cost | 210,713 | 203,275
Allowance for expected credit losses | 0 | 0
Gross unrealized gains | 7,728 | 4,359
Gross unrealized losses | (171) | (407)
Fair value | $ 218,270 | $ 207,227

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