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OTHER COMPREHENSIVE INCOME (LOSS)
 12 Months Ended
Dec. 31, 2020
Equity [Abstract]  
OTHER COMPREHENSIVE INCOME (LOSS)
The following table presents the tax effects allocated to each component of other comprehensive income (loss):
Before tax amountIncome tax (expense) benefitNet of tax amount
Year ended December 31, 2020
Available for sale investments:
Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has not been recognized$360,357 $(43,191)$317,166 
Unrealized gains (losses) arising during the year for which an allowance for expected credit losses has been recognized(40)— (40)
Adjustment for reclassification of net realized (gains) losses, impairment losses and OTTI losses recognized in net income (loss)
(90,380)12,368 (78,012)
Unrealized gains (losses) arising during the year, net of reclassification adjustment269,937 (30,823)239,114 
Foreign currency translation adjustment3,571 — 3,571 
Total other comprehensive income (loss), net of tax$273,508 $(30,823)$242,685 
Year ended December 31, 2019
Available for sale investments:
Unrealized gains (losses) arising during the year$414,982 $(40,367)$374,615 
Adjustment for reclassification of net realized (gains) losses and OTTI losses recognized in net income (loss)$(29,618)$4,889 $(24,729)
Unrealized gains (losses) arising during the year, net of reclassification adjustment (1)
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 $(291,731)
Adjustment for reclassification of net realized (gains) losses and OTTI losses recognized in net income (loss)105,730 (4,828)100,902 
Unrealized gains (losses) arising during the year, net of reclassification adjustment(191,529)700 (190,829)
Foreign currency translation adjustment(11,165)— (11,165)
Total other comprehensive income (loss), net of tax$(202,694)$700 $(201,994)
The following table presents details of amounts reclassified from accumulated other comprehensive income ("AOCI") to net
income (loss):
Amounts reclassified from AOCI(1)
AOCI componentsConsolidated statement of operations line item that includes reclassification adjustmentYears ended December 31,
202020192018
Unrealized gains (losses) on available for sale investments
Other realized gains (losses)
$91,866 $36,602 $(95,997)
Impairment losses(1,486)— — 
OTTI losses— (6,984)(9,733)
Total before tax90,380 29,618 (105,730)
Income tax (expense) benefit(12,368)(4,889)4,828 
Net of tax$78,012 $24,729 $(100,902)
Foreign currency translation adjustments(2)
Foreign exchange gains (losses)$— $6,043 $— 
Income tax (expense) benefit— — — 
   Net of tax$— $6,043 $— 
(1)    Amounts in parentheses are charges to net income (loss).
(2)    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.