AXIS Capital Holdings Limited (AXS) 10-K 27 Feb 20 2019 FY Annual report Financial data

COVER PAGE

COVER PAGE - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2019	Feb. 21, 2020	Jun. 28, 2019
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	001-31721
Entity Registrant Name	AXIS CAPITAL HOLDINGS LIMITED
Entity Incorporation, State or Country Code	D0
Entity Tax Identification Number	98-0395986
Entity Address, Address Line One	92 Pitts Bay Road
Entity Address, City or Town	Pembroke
Entity Address, Country	BM
Entity Address, Postal Zip Code	HM 08
City Area Code	441
Local Phone Number	496-2600
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filer	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 4.9
Entity Common Stock, Shares Outstanding		84,002,300
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement to be filed with the Securities and Exchange Commission pursuant to Regulation 14A relating to the annual meeting of shareholders to be held on May 7, 2020 are incorporated by reference in response to items 10, 11, 12, 13 and 14 in Part III of this Form 10-K. The definitive proxy statement will be filed with the Securities and Exchange Commission not later than 120 days after the registrant's fiscal year ended December 31, 2019 .
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Central Index Key	0001214816
Current Fiscal Year End Date	--12-31
Common stocks
Document Information [Line Items]
Title of 12(b) Security	Common shares, par value $0.0125 per share
Trading Symbol	AXS
Security Exchange Name	NYSE
Series E 5.50% Preferred Shares
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/100th interest in a 5.50% Series E preferred shares
Trading Symbol	AXS PRE
Security Exchange Name	NYSE

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Investments:
Fixed maturities, available for sale, at fair value (Amortized cost 2019: $12,263,240; 2018: $11,616,312)	$ 12,468,205	$ 11,435,347
Equity securities, at fair value (Cost 2019: $398,956; 2018: $365,905)	474,207	381,633
Mortgage loans, held for investment, at fair value	432,748	298,650
Other investments, at fair value	770,923	787,787
Equity method investments	117,821	108,103
Short-term investments, at fair value	38,471	144,040
Total investments	14,302,375	13,155,560
Cash and cash equivalents	1,241,109	1,232,814
Restricted cash and cash equivalents	335,348	597,206
Accrued interest receivable	78,085	80,335
Insurance and reinsurance premium balances receivable	3,071,390	3,007,296
Reinsurance recoverable on unpaid losses and loss expenses	3,877,756	3,501,669
Reinsurance recoverable on paid losses and loss expenses	327,795	280,233
Deferred acquisition costs	492,119	566,622
Prepaid reinsurance premiums	1,101,889	1,013,573
Receivable for investments sold	35,659	32,627
Goodwill	102,003	102,003
Intangible assets	230,550	241,568
Value of business acquired	8,992	35,714
Operating lease right-of-use assets	111,092
Other assets	287,892	285,346
Total assets	25,604,054	24,132,566
Liabilities
Reserve for losses and loss expenses	12,752,081	12,280,769
Unearned premiums	3,626,246	3,635,758
Insurance and reinsurance balances payable	1,349,082	1,338,991
Debt	1,808,157	1,341,961
Payable for investments purchased	32,985	111,838
Operating lease liabilities	115,584
Other liabilities	375,911	393,178
Total liabilities	20,060,046	19,102,495
Commitments and Contingencies
Shareholders' equity
Preferred shares	775,000	775,000
Common shares (shares issued 2019: 176,580; 2018: 176,580 shares outstanding 2019: 83,959; 2018: 83,586)	2,206	2,206
Additional paid-in capital	2,317,212	2,308,583
Accumulated other comprehensive income (loss)	171,710	(177,110)
Retained earnings	6,056,686	5,912,812
Treasury shares, at cost (2019: 92,621; 2018: 92,994)	(3,778,806)	(3,791,420)
Total shareholders’ equity	5,544,008	5,030,071
Total liabilities and shareholders’ equity	$ 25,604,054	$ 24,132,566

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Fixed maturities, available for sale, amortized cost	$ 12,263,240	$ 11,616,312
Cost	$ 398,956	$ 365,905
Common shares, shares issued (in shares)	176,580	176,580
Common shares, shares outstanding (in shares)	83,959	83,586
Treasury shares (in shares)	92,621	92,994

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues
Net premiums earned	$ 4,587,178	$ 4,791,495	$ 4,148,760
Net investment income	478,572	438,507	400,805
Other insurance related income (losses)	16,444	10,622	(1,240)
Bargain purchase gain	0	0	15,044
Net investment gains (losses):
Other-than-temporary impairment (OTTI) losses	(6,984)	(9,733)	(14,493)
Other realized and unrealized investment gains (losses)	98,217	(140,485)	42,719
Total net investment gains (losses)	91,233	(150,218)	28,226
Total revenues	5,173,427	5,090,406	4,591,595
Expenses
Net losses and loss expenses	3,044,798	3,190,287	3,287,772
Acquisition costs	1,024,582	968,835	823,591
General and administrative expenses	634,831	627,389	579,428
Foreign exchange losses (gains)	(12,041)	(29,165)	134,737
Interest expense and financing costs	68,107	67,432	54,811
Transaction and reorganization expenses	37,384	66,940	26,718
Amortization of value of business acquired	26,722	172,332	50,104
Amortization of intangible assets	11,597	13,814	2,543
Total expenses	4,835,980	5,077,864	4,959,704
Income (loss) before income taxes and interest in income (loss) of equity method investments	337,447	12,542	(368,109)
Income tax (expense) benefit	(23,692)	29,486	7,542
Interest in income (loss) of equity method investments	9,718	993	(8,402)
Net income (loss)	323,473	43,021	(368,969)
Preferred share dividends	41,112	42,625	46,810
Net income (loss) available (attributable) to common shareholders	$ 282,361	$ 396	$ (415,779)
Earnings (loss) per common share:
Earnings (loss) per common share (in dollars per share)	$ 3.37	$ 0	$ (4.94)
Earnings (loss) per diluted common share (in dollars per share)	$ 3.34	$ 0	$ (4.94)
Weighted average common shares outstanding (in shares)	83,894	83,501	84,108
Weighted average diluted common shares outstanding (in shares)	84,473	84,007	84,108

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 323,473	$ 43,021	$ (368,969)
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) arising during the year	374,615	(291,731)	205,419
Adjustment for reclassification of net realized (gains) losses and OTTI losses recognized in net income (loss)	(24,729)	100,902	(33,134)
Unrealized gains (losses) arising during the year, net of reclassification adjustment	349,886	(190,829)	172,285
Foreign currency translation adjustment	(1,066)	(11,165)	41,938
Total other comprehensive income (loss), net of tax	348,820	(201,994)	214,223
Comprehensive income (loss)	$ 672,293	$ (158,973)	$ (154,746)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Preferred shares	Common stocks	Additional paid-in capital	Accumulated other comprehensive income (loss)	Unrealized gains (losses) on available for sale investments, net of tax	Cumulative foreign currency translation adjustments, net of tax	Retained earnings	Treasury shares, at cost
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of adoption of ASU | Accounting Standards Update 2018-02						$ 0		$ 0
Cumulative effect of adoption of ASU | Accounting Standards Update 2016-01						0		0
Balance at beginning of year at Dec. 31, 2016		$ 1,126,074	$ 2,206	$ 2,299,857	$ (121,841)	(82,323)	$ (39,518)	6,527,627	$ (3,561,553)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares repurchased		(351,074)
Shares repurchased									(285,858)
Shares reissued				(39,368)					40,255
Share-based compensation expense				38,677
Unrealized gains (losses) arising during the year, net of reclassification adjustment	$ 172,285					172,285
Foreign currency translation adjustment	41,938						41,938
Net income (loss)	(368,969)							(368,969)
Preferred share dividends								(46,810)
Common share dividends								(132,182)
Balance at end of year at Dec. 31, 2017	5,341,264	775,000	2,206	2,299,166	92,382	89,962	2,420	5,979,666	(3,807,156)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of adoption of ASU | Accounting Standards Update 2018-02						2,106		(2,106)
Cumulative effect of adoption of ASU | Accounting Standards Update 2016-01						(69,604)		69,604
Shares repurchased		0
Shares repurchased									(10,080)
Shares reissued				(24,088)					25,816
Share-based compensation expense				33,505
Unrealized gains (losses) arising during the year, net of reclassification adjustment	(190,829)					(190,829)
Foreign currency translation adjustment	(11,165)						(11,165)
Net income (loss)	43,021							43,021
Preferred share dividends								(42,625)
Common share dividends								(134,748)
Balance at end of year at Dec. 31, 2018	5,030,071	775,000	2,206	2,308,583	(177,110)	(168,365)	(8,745)	5,912,812	(3,791,420)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of adoption of ASU | Accounting Standards Update 2018-02						0		0
Cumulative effect of adoption of ASU | Accounting Standards Update 2016-01						0		0
Shares repurchased		0
Shares repurchased									(10,165)
Shares reissued				(21,046)					22,779
Share-based compensation expense				29,675
Unrealized gains (losses) arising during the year, net of reclassification adjustment	349,886					349,886
Foreign currency translation adjustment	(1,066)						(1,066)
Net income (loss)	323,473							323,473
Preferred share dividends								(41,112)
Common share dividends								(138,487)
Balance at end of year at Dec. 31, 2019	$ 5,544,008	$ 775,000	$ 2,206	$ 2,317,212	$ 171,710	$ 181,521	$ (9,811)	$ 6,056,686	$ (3,778,806)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income (loss)	$ 323,473	$ 43,021	$ (368,969)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Net investment (gains) losses	(91,233)	144,297	(28,226)
Net realized and unrealized gains on other investments	(60,038)	(45,153)	(72,763)
Amortization of fixed maturities	18,499	24,663	43,292
Interest in (income) loss of equity method investments	(9,718)	495	8,402
Amortization of value of business acquired	26,722	172,332	50,104
Other amortization and depreciation	75,229	9,795	31,367
Share-based compensation expense, net of cash payments	32,491	34,346	12,667
Non-cash foreign exchange losses (gains)	(6,043)	0	24,149
Bargain purchase gain	0	0	(15,044)
Changes in:
Accrued interest receivable	2,140	(3,184)	(4,353)
Reinsurance recoverable on unpaid and paid losses and loss expenses	(412,076)	(766,690)	(131,160)
Deferred acquisition costs	74,331	(98,329)	(35,076)
Prepaid reinsurance premiums	(88,789)	(212,654)	(56,377)
Reserve for losses and loss expenses	467,428	442,839	1,004,578
Unearned premiums	(7,958)	29,760	(56,603)
Insurance and reinsurance balances, net	(51,075)	208,783	(81,831)
Other items	(94,379)	26,452	(64,928)
Net cash provided by operating activities	199,004	10,773	259,229
Purchases of:
Fixed maturities	(9,994,025)	(8,464,140)	(8,714,990)
Equity securities	(58,022)	(73,107)	(106,136)
Mortgage loans	(194,020)	(106,171)	(31,077)
Other investments	(218,178)	(180,126)	(153,150)
Equity method investments	0	0	(1,000)
Short-term investments	(179,230)	(305,670)	(41,609)
Proceeds from the sale of:
Fixed maturities	8,018,658	7,586,536	7,004,973
Equity securities	36,016	246,196	448,058
Other investments	249,129	361,030	260,943
Short-term investments	266,057	178,983	49,280
Proceeds from redemption of fixed maturities	1,282,796	1,241,214	2,009,982
Proceeds from redemption of short-term investments	19,366	45,831	119,427
Proceeds from the repayment of mortgage loans	60,244	133,081	56,435
Purchase of other assets	(63,106)	(25,103)	(42,685)
Purchase of subsidiaries, net	0	0	(466,941)
Net cash provided by (used in) investing activities	(774,315)	638,554	391,510
Cash flows from financing activities:
Net proceeds from issuance of debt	717,509	0	346,362
Repayment of notes payable	(250,000)	0	(67,242)
Repurchase of common shares - open market	0	0	(261,180)
Taxes paid on withholding shares	(10,165)	(10,080)	(24,678)
Dividends paid - common shares	(137,209)	(133,502)	(135,032)
Repurchase of preferred shares	0	0	(351,074)
Dividends paid - preferred shares	(42,625)	(42,625)	(52,844)
Net cash provided by (used in) financing activities	277,510	(186,207)	(545,688)
Effect of exchange rate changes on foreign currency cash, cash equivalents and restricted cash	44,238	3,114	17,228
Increase (decrease) in cash, cash equivalents and restricted cash	(253,563)	466,234	122,279
Cash, cash equivalents and restricted cash - beginning of year	1,830,020	1,363,786	1,241,507
Cash, cash equivalents and restricted cash - end of year	1,576,457	1,830,020	1,363,786
Supplemental disclosures of cash flow information:
Income taxes paid	39,949	15,698	0
Interest paid	$ 59,563	$ 64,822	$ 49,945

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - Syndicate 2007 $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)
Consideration transferred reinsurance	$ 819
Transfer from investments	$ 600

HISTORY

HISTORY	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
HISTORY	AXIS Capital Holdings Limited ("AXIS Capital" and together with its wholly owned subsidiaries the "Company"), was incorporated on December 9, 2002, under the laws of Bermuda. The Company provides a broad range of insurance and reinsurance products on a worldwide basis. The Company's principal operating subsidiaries, located in Bermuda, the United States ("U.S."), Europe, Singapore and Canada are described below: • AXIS Specialty Limited ("AXIS Specialty Bermuda"), a Bermuda domiciled company is licensed to provide specialty insurance and treaty reinsurance products on a worldwide basis. In addition, AXIS Specialty Bermuda conducts insurance and reinsurance business through its branch in Singapore, AXIS Specialty Limited (Singapore Branch). • AXIS Insurance Company, domiciled in Illinois and AXIS Reinsurance Company, domiciled in New York, together with AXIS Reinsurance Company (Canadian Branch) are licensed to offer a range of specialty insurance and treaty reinsurance products to a variety of niche markets on a worldwide basis. AXIS Surplus Insurance Company, domiciled in the state of Illinois is eligible to write insurance on a surplus lines basis. • AXIS Specialty Europe SE ("AXIS Specialty Europe") is a European public limited liability company, incorporated as a non-life insurer under the laws of Ireland. It is a Societas Europaea (SE), or European society company, and has been registered in accordance with company law of the E.U. AXIS Specialty Europe also conducts insurance business through its branch in the United Kingdom, AXIS Specialty Europe SE ("UK Branch"). Effective January 1, 2019, the shares of Compagnie Belge d’Assurances Aviation NV/SA ("Aviabel") were transferred to AXIS Specialty Europe from AXIS Specialty Holdings Ireland Limited and Aviabel was merged into AXIS Specialty Europe by way of merger by absorption and dissolved without going into liquidation (the "Aviabel Merger"). In connection with the Aviabel Merger, AXIS Specialty Europe established new branches in Belgium and the Netherlands, AXIS Specialty Europe SE (Belgium Branch) and AXIS Specialty Europe SE (Netherlands Branch), respectively. Effective January 1, 2019, AXIS Specialty Europe conducts insurance business through its new branches in Belgium and the Netherlands. • AXIS Re SE is a European public limited liability company, incorporated as a reinsurer under the laws of Ireland. AXIS Re SE is also a Societas Europaea (SE). AXIS Re SE also conducts reinsurance business through its branch in Switzerland, AXIS Re SE, Dublin (Zurich Branch). • The Company operates in the Lloyd's of London ("Lloyd's") market through its corporate members AXIS Corporate Capital UK Limited and AXIS Corporate Capital UK II Limited (formerly Novae Corporate Underwriting Limited), which provide 70% and 30% , respectively of AXIS Syndicate 1686's ("Syndicate 1686") capital support. AXIS Corporate Capital UK Limited was the sole corporate member of Syndicate 1686 until December 31, 2018. AXIS Syndicate 1686 is managed by AXIS Managing Agency Ltd. • On October 2, 2017, AXIS Specialty UK Holdings Limited, a wholly owned subsidiary of the Company, acquired a 100% ownership interest in Novae Group plc ("Novae"). AXIS Corporate Capital UK II Limited is the sole corporate member of Novae Syndicate 2007 ("Syndicate 2007"). Novae Syndicates Limited ("NSL") managed Syndicate 2007 until January 1, 2018, when the Company received authorization from Lloyd’s for AXIS Managing Agency to commence management and oversight of Syndicate 2007. Effective January 1, 2019, Syndicate 2007 ceased accepting new business and was placed into run-off. •

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICATION ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SIGNIFICATION ACCOUNTING POLICIES	Basis of Presentation These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and the rules and regulations of the U.S. Securities and Exchange Commission ("SEC") and include AXIS Capital and its wholly-owned subsidiaries. All inter-company accounts and transactions have been eliminated. During the three months ended March 31, 2018, the Company realigned its accident and health business by integrating this business and its operations into the Company's insurance and reinsurance segments. Through this realignment, the Company's accident and health business benefited from the greater scale and market presence of the Company's property and casualty insurance and reinsurance businesses and operations. Financial results relating to the Company's accident and health lines of business were previously included in the Company's insurance segment. Effective January 1, 2018, accident and health results are included in the results of both the insurance and reinsurance segments of the Company. As a result of the realignment, gross premiums written for the year ended December 31, 2017 of $313 million and underwriting income for the year ended December 31, 2017 of $14 million were reclassified from the Company's insurance segment to the Company's reinsurance segment. At December 31, 2018 the Company represented reinsurance recoverable on unpaid losses separately from reinsurance recoverable on paid losses in the consolidated balance sheets. This presentation was adopted to facilitate comparison to the reconciliation of beginning and ending net reserves for unpaid losses and loss expenses (refer to Note 8 'Reserve for Losses and Loss Expenses') . These reclassifications did not impact results of operations, financial condition or liquidity. Tabular dollar and share amounts are in thousands, with the exception of per share amounts. All amounts are reported in U.S. dollars. Use of Estimates The preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. While management believes that the amounts included in the consolidated financial statements reflect its best estimates and assumptions, actual results could differ from those estimates. The Company’s principal estimates include: • reserve for losses and loss expenses; • reinsurance recoverable on unpaid losses and loss expenses, including the provision for uncollectible amounts; • gross and net premiums written and net premiums earned; • fair value measurements of financial assets and liabilities; and • other-than-temporary impairments ("OTTI") in the carrying value of available-for-sale securities. The Company's significant accounting policies are as follows: a) Investments Fixed Maturities, Available-for-sale, at Fair Value Fixed maturities classified as available for sale are reported at fair value (refer to Note 6 ' Fair Value Measurements '). The change in fair values of fixed maturities, net of tax is recognized in accumulated other comprehensive income (loss) ("AOCI") in the consolidated statement of changes in shareholders’ equity. Net investment income includes interest income and the amortization of market premiums and discounts and is presented net of investment expenses. Investment income is recognized when earned. Purchases and sales of fixed maturities are recorded on a trade-date basis and realized investment gains (losses) on sales of fixed maturities are determined based on the specific identification method. Realized investment gains (losses) on fixed maturities are included in net investment gains (losses) in the consolidated statements of operations. The Company recognizes investment income from fixed maturities based on the constant effective yield method, which includes an adjustment for estimated principal repayments, if applicable. The effective yield used to determine the amortization of fixed maturities subject to prepayment risk (e.g. asset-backed, mortgage-backed and other structured securities) is recalculated and adjusted periodically based on historical and/or projected future cash flows. Adjustments to the yield for highly rated prepayable fixed maturities are accounted for using the retrospective method. Adjustments to the yield for other prepayable fixed maturities are accounted for using the prospective method. A fixed maturity is impaired if the fair value of the investment is below amortized cost. On a quarterly basis, the Company assesses whether unrealized losses on fixed maturities represent impairments that are other-than-temporary. The Company's impairment review process begins with a quantitative analysis to identify securities to be evaluated for potential OTTI. For identified securities, fundamental analysis is performed that considers the following quantitative and qualitative factors: a. the duration and the extent of the decline; b. the financial condition, near-term and long-term prospects of the issuer of the security; c. the reason for the decline (e.g. credit spread widening, credit event, foreign exchange rate movements); d. the historical and implied future volatility of the fair value; and e. the collateral structure and credit support of the security, if applicable. If a fixed maturity is impaired and the Company intends to sell the security or it is more likely than not that the Company will be required to sell the security before its anticipated recovery, the impairment is considered other-than-temporary. In these instances, the full amount of the impairment is charged to net income and is included in net investment gains (losses) in the consolidated statements of operations. In instances where the Company intends to hold the impaired fixed maturity, the Company estimates the anticipated credit loss on the security and this component of the impairment is charged to net income and is included in net investment gains (losses) in the consolidated statements of operations. On recognition of an OTTI charge, the new cost basis for the security is the amortized cost basis less the OTTI charge recognized in net income. The new cost basis is not adjusted for subsequent increases in fair value. The difference between the new cost basis and the cash flows expected to be collected is accreted or amortized on a quarterly basis to net investment income over the remaining life of the fixed maturity. The Company recognizes the non-credit component of the impairment (i.e. related to interest rates, market conditions, etc.) in other comprehensive income. Equity Securities, at Fair Value Equity securities are reported at fair value (refer to Note 6 ' Fair Value Measurements '). Subsequent to the adoption of Accounting Standards Update ("ASU") 2016-01, "Financial Instruments - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities, " on January 1, 2018, the change in the fair values of equity securities, net of tax is recognized in net investment gains (losses) in the consolidated statements of operations. Net investment income includes dividend income and is presented net of investment expenses. Investment income is recognized when earned. Purchases and sales of equity securities are recorded on a trade-date basis and realized gains (losses) on sales of equity securities are determined based on the specific identification method. Realized gains (losses) on equity securities are included in net investment gains (losses) in the consolidated statements of operations. Prior to the Adoption of ASU 2016-01 Equity securities are reported at fair value. Prior to the adoption of ASU 2016-01, the change in the fair values of equity securities, net of tax was recognized in AOCI in the consolidated statement of changes in shareholders’ equity. An equity security is impaired if the fair value of the investment is below cost. On a quarterly basis, the Company assessed whether unrealized losses on equity securities represented impairments that were other-than-temporary and recognized impairments on equity securities in an unrealized loss position when the Company did not have the ability and intent to hold the security for a reasonable period of time to allow for a full recovery. The full amount of the impairment was charged to net income and was included in net investment gains (losses) in the consolidated statements of operations. On recognition of an OTTI charge, the new cost basis for the equity security was the cost for an equity security less the OTTI charge recognized in net income. The new cost basis was not adjusted for subsequent increases in fair value. Mortgage Loans Held-for-investment Mortgage loans held-for-investment are reported at amortized cost which is calculated as the unpaid principal balance, adjusted for any unamortized premium or discount, deferred fees or expenses, and is net of valuation allowances. Interest income and prepayment fees are recognized when earned. Interest income is recognized based on an effective yield method which gives effect to the amortization of premiums and accretion of discounts. Other Investments Other investments are recorded at fair value (refer to Note 6 ' Fair Value Measurements '), with changes in fair value and realized gains (losses) reported in net investment income in the consolidated statements of operations. Equity Method Investments Investments in which the Company has significant influence over the operating and financial policies of the investee are classified as equity method investments and are accounted for using the equity method of accounting. In applying the equity method of accounting, investments are initially recorded at cost and are subsequently adjusted based on the Company’s proportionate share of net income or loss of the investee. Adjustments are based on the most recently available financial information from the investee. Changes in the carrying value of these investments are recorded in net income as interest in income (loss) of equity method investments. Short-term Investments Short-term investments primarily comprise highly liquid debt securities with maturities greater than three months but less than one year from the date of purchase. These investments are carried at amortized cost, which approximates fair value. b) Cash and Cash Equivalents Cash equivalents include money-market funds, fixed interest deposits and reverse repurchase agreements with a maturity of under 90 days when purchased. Cash and cash equivalents are recorded at amortized cost, which approximates fair value due to the short-term, liquid nature of these securities. Restricted cash primarily relates to funds held in trust to support of obligations in regulatory jurisdictions where the Company operates as a non-admitted carrier and to support the underwriting activities of Syndicate 1686 and Syndicate 2007 at Lloyd's. c) Premiums and Acquisition Costs Premiums Insurance premiums written are recorded in accordance with the terms of the underlying policies. Reinsurance premiums are recorded at the inception of the contract and are estimated based on information received from ceding companies. For multi-year contracts insurance and reinsurance premiums are recorded at the inception of the contract based on management’s best estimate of total premiums to be received. Premiums are recognized on an annual basis for multi-year contracts where the cedant has the ability to unilaterally commute or cancel coverage within the term of the contract. Any adjustments to insurance and reinsurance premium estimates are recognized in the period in which they are determined. Insurance and reinsurance premiums are earned evenly over the period during which the Company is exposed to the underlying risk, which is generally one to two years with the exception of multi-year contracts. Unearned premiums represent the portion of premiums which relate to the unexpired risks under contracts in force. Reinstatement premiums are recognized and earned at the time a loss event occurs and losses are recorded, where the coverage limits for the remaining life of the contract are reinstated under pre-defined contract terms. The recognition of reinstatement premiums is based on estimates of losses and loss expenses, which reflects management’s judgment, as described in Note 2(d) ' Losses and Loss Expenses ' below. Insurance and reinsurance premiums balances receivable are reviewed for impairment at least quarterly and an allowance is established for amounts considered uncollectible. Acquisition Costs Acquisition costs vary with and are directly related to the successful acquisition efforts of acquiring new or renewing existing insurance and reinsurance contracts and consist primarily of fees and commissions paid to brokers and premium taxes. Acquisition costs are shown net of commissions on reinsurance purchased. Net acquisition costs are deferred and charged to net income as the related premium is earned. Insurance and reinsurance premiums balance receivable is presented net of acquisition costs when contract terms provide for the right of offset. Anticipated losses and loss expenses, other costs and investment income related to these premiums are considered in assessing the recoverability of deferred acquisition costs. If deferred amounts are estimated to be unrecoverable, they are expensed. Compensation expenses for personnel involved in contract acquisition, as well as advertising costs, are expensed as incurred. d) Losses and Loss Expenses Reserve for losses and loss expenses represents an estimate of the unpaid portion of the ultimate liability for losses and loss expenses for insured and reinsured events that have occurred at or before the balance sheet date. These amounts reflect claims that have been reported ("case reserves") and claims that have been incurred but have not yet been reported ("IBNR") and are reduced for estimated amounts of salvage and subrogation recoveries. The Company reviews its reserve for losses and loss expenses on a quarterly basis. Case reserves are primarily established based on amounts reported by insureds and/or their brokers. Management estimates IBNR after reviewing detailed actuarial analyses and applying informed judgment regarding qualitative factors that may not be fully captured in the actuarial estimates. A variety of actuarial methods are utilized in this process, including the Expected Loss Ratio, Chain Ladder and Bornhuetter Ferguson methods. The estimate is highly dependent on management’s judgment as to which method(s) are most appropriate for a particular accident/underwriting year and line of business. Historical claims data is often supplemented with industry benchmarks when applying these methodologies. Any adjustments to reserve for losses and loss expenses estimates are recognized in the period in which they are determined. While the Company believes that its reserves for losses and loss expenses are adequate, this estimate requires significant judgment and new information, events or circumstances may result in ultimate losses that are materially greater or less than provided for in the consolidated balance sheets. e) Reinsurance In the normal course of business, the Company purchases treaty and facultative reinsurance protection to limit its ultimate losses from catastrophic events and to reduce its loss aggregation risk. The premiums paid to reinsurers (i.e. ceded premiums written) are recognized over the coverage period. Prepaid reinsurance premiums represent the portion of premiums ceded which relate to the unexpired term of the contracts in force. Reinstatement premiums are recognized and earned at the time a loss event occurs and losses are recorded, where the coverage limits for the remaining life of the contract are reinstated under pre-defined contract terms. Reinsurance recoverable on unpaid and paid losses and loss expenses ("reinsurance recoverable") related to case reserves is estimated on a case-by-case basis by applying the terms of applicable reinsurance cover to individual case reserve estimates. Reinsurance recoverable related to IBNR is generally developed as part of the Company's loss reserving process, therefore, its estimation is subject to similar risks and uncertainties as the estimation of IBNR. Reinsurance recoverable is presented net of a provision for uncollectible amounts, reflecting the amount the Company believes ultimately will not be recovered from reinsurers due to insolvency, contractual disputes over contract language or coverage and/or some other reason. The Company applies case specific provisions against reinsurance recoverable balances that it deems unlikely to be collected in full. In addition, the Company uses a default analysis to estimate the provision for uncollectible amounts on the remainder of the reinsurance recoverable balance. The estimates of reinsurance recoverable and the provision for uncollectible amounts require management’s judgment and are reviewed in detail on a quarterly basis. Any adjustments to the provision for uncollectible amounts are recognized in the period in which they are determined. Retroactive Reinsurance Retroactive reinsurance reimburses a ceding company for liabilities incurred as a result of past insurable events covered under contracts subject to the reinsurance. In certain instances, reinsurance contracts cover losses both on a prospective basis and on a retroactive basis and where practical the Company bifurcates the prospective and retrospective elements of these reinsurance contracts and accounts for each element separately. Initial gains in connection with retroactive reinsurance contracts are deferred and amortized into income over the settlement period while losses are recognized immediately. When changes in the estimated amount recoverable from the reinsurer or in the timing of receipts related to that amount occur, a cumulative amortization adjustment is recognized in net income in the period in which the change is determined so that the deferred gain reflects the balance that would have existed had the revised estimate been available at the inception of the reinsurance transaction. f) Foreign Exchange The functional currency of the Company and the majority of its subsidiaries is the U.S. dollar. All foreign currency transactions are initially measured and recorded in functional currency using the rates of exchange prevailing at the transaction date. Monetary assets and liabilities denominated in foreign currency are remeasured to functional currency at the rates of exchange in effect at the balance sheet date with the resulting foreign exchange losses (gains) generally being recognized in the consolidated statements of operations. Foreign exchange losses (gains) related to available for sale investments denominated in foreign currency represent an unrealized appreciation (depreciation) in the market value of the securities and are included in AOCI. Non-monetary assets and liabilities denominated in foreign currency are not subsequently remeasured. The Company’s reporting currency is the U.S. dollar. Assets and liabilities of the Company's subsidiaries and branches where the functional currency is not the U.S. dollar, are translated into U.S. dollars using the rates of exchange in effect at the balance sheet date, and revenue and expenses are translated using the weighted average foreign exchange rates for the period. The effect of translation adjustments is reported as a separate component of AOCI in the consolidated statements of change shareholders’ equity. g) Share-based Compensation The Company is authorized to issue restricted shares, restricted stock units, performance units, stock options, stock appreciation rights and other equity-based awards to its employees and directors. The Company's plan includes share-settled and cash-settled service and performance awards. The fair value of share-settled and cash-settled service and performance awards is based on the market value of the Company's common share measured at the grant date and is expensed over the requisite service period. Compensation expense associated with share-settled and cash-settled performance awards is also subject to periodic adjustment based on the achievement of established performance criteria during the applicable performance period. The fair value of the cash-settled service and performance awards is recognized as a liability in the consolidated balance sheets and is remeasured at the end of each reporting period. The Company recognizes forfeitures when they occur. h) Derivative Instruments The Company may enter into derivative instruments such as futures, options, interest rate swaps and foreign currency forward contracts as part of its overall foreign currency risk management strategy, to obtain exposure to a particular financial market or for yield enhancement. During 2013, the Company began to write derivative based risk management products designed to address weather and commodity price risks, with the objective of generating profits on a portfolio basis. Effective July 1, 2017, the Company ceased writing derivative-based risk management products which address weather risks. From time to time the Company may also enter into insurance and reinsurance contracts that meet the Financial Accounting Standards Board's ("FASB") definition of a derivative contract. The Company measures all derivative instruments at fair value (refer to Note 6 ' Fair Value Measurements ') and recognizes these instruments as either assets or liabilities in the consolidated balance sheets. Subsequent changes in fair value and any realized gains or losses are recognized in the consolidated statements of operations. i) Goodwill and Intangible Assets The Company recognizes goodwill and other intangible assets in connection with certain acquisitions. Goodwill represents the excess of the purchase price paid over the fair value of the net assets acquired in these acquisitions and is not amortized. Other intangible assets with a finite life are amortized over the estimated useful live of the intangible asset. Other intangible assets with an indefinite life are not amortized. The Company tests goodwill and indefinite intangible assets for potential impairment during the fourth quarter each year and between annual tests if an event occurs or changes in circumstances indicate that the asset is impaired. Such events or circumstances may include an economic downturn in a geographic market or a change in the assessment of future operations. For the purpose of evaluating goodwill for impairment, the Company may first perform a qualitative assessment to determine whether it is necessary to perform a quantitative goodwill impairment test. If determined to be necessary, the quantitative test compares the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired. If the carrying amount of the reporting unit exceeds the fair value, an impairment loss is recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. For the purpose of evaluating indefinite lived intangibles for impairment, the Company may first perform a qualitative assessment to determine whether it is necessary to perform the quantitative impairment test. If the Company elects to perform a qualitative assessment, it first assesses qualitative factors to determine whether it is more likely than not that an indefinite lived intangible asset is impaired. If the Company determines that it is not more likely than not that the indefinite lived intangible asset is impaired, the Company performs the quantitative impairment test. For the purposes of evaluating goodwill and indefinite lived intangible assets for impairment, the Company has an unconditional option to bypass the qualitative assessment in any period and proceed directly to performing the quantitative impairment test. The Company may resume performing the qualitative assessment in any subsequent period. For other definite lived intangible asset the Company tests for recoverability whenever events or changes in circumstances indicate its carrying amount may not be recoverable. The Company recognizes an impairment loss if the carrying amount of the asset is not recoverable and exceeds its fair value. The carrying amount of a definite lived intangible asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If goodwill or an intangible asset is impaired, the carrying value of the asset is reduced to fair value and a corresponding expense is recorded in the consolidated statements of operations. j) Income Taxes Certain subsidiaries and branches of the Company operate in jurisdictions where they are subject to taxation. Current and deferred income taxes are charged or credited to net income, or in certain cases to AOCI, based on enacted tax laws and rates applicable in the relevant jurisdiction in the period in which the tax becomes accruable or realizable. Deferred income taxes are provided for all temporary differences between the bases of assets and liabilities used in the consolidated balance sheets and those used in the various jurisdictional tax returns. When the assessment indicates that it is more likely than not that a portion of a deferred tax asset will not be realized in the foreseeable future, a valuation allowance against deferred tax assets is recorded. The Company recognizes the tax benefits of uncertain tax positions only when the position is more-likely-than-not to be sustained on audit by the relevant taxing authorities. k) Treasury Shares Common shares repurchased by the Company and not subsequently canceled are classified as treasury shares and are recorded at cost. This results in a reduction of shareholders’ equity in the consolidated balance sheets. The Company uses the average cost method to determine the cost of shares reissued from treasury. l) New Accounting Standards Adopted in 2019 Leases Effective January 1, 2019, the Company adopted ASU 2016-02, "Leases (Topic 842)," which provides a new comprehensive model for lease accounting. Topic 842 requires a lessee to recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. The adoption of this standard resulted in the recognition of lease liabilities and right-of-use assets of $150 million in the Company's consolidated balance sheet at January 1, 2019 , which are related to office property and equipment leases. In addition, the Company adopted ASU 2018-11, "Leases (Topic 842) - Targeted Improvements, " which provides an additional (and optional) transition method to adopt the new lease guidance. Under the alternative transition method, the Company's reporting for the comparative periods presented in its financial statements will be in accordance with the pre-effective date lease accounting requirements (Topic 840). The Company also elected the package of practical expedients permitted under the transition guidance of Topic 842, which were elected as a package and applied consistently to all leases. At the adoption date, the package of practical expedients permitted the Company to not reassess the following: 1. whether any expired or existing contracts are or contain leases; 2. the lease classification for any expired or existing leases; and 3. initial direct costs for any existing leases. In addition to electing the package of practical expedients, the Company made an accounting policy election to account for non-lease components separately from lease components. As a result, the non-lease components associated with the Company's leases are not included in the lease liabilities and right-of-use assets in the Company's consolidated balance sheet at December 31, 2019 . Further, the Company made an accounting policy election to not record office property and equipment leases with an initial term of 12 months or less (short-term) in the Company's consolidated balance sheets. For the year ended December 31, 2019 , the Company recognized expenses for short-term leases of $1.1 million in the Company's consolidated statements of operations. The adoption of this guidance did not impact the Company's retained earnings or liquidity and it did not have a material impact on the Company's results of operations. Premium Amortization on Purchased Callable Debt Securities Effective January 1, 2019, the Company adopted ASU 2017-08, "Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20) - Premium Amortization on Purchased Callable Debt Securities," which shortens the amortization period for certain purchased callable debt securities held at a premium. The adoption of this guidance did not impact the Company's results of operations, financial condition or liquidity. Changes to Disclosures on Fair Value Measurement Effective January 1, 2019, the Company adopted ASU 2018-13, "Fair Value Measurement (Topic 820) - Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement, " which aims to improve the effectiveness of fair value measurement disclosures. The adoption of this guidance did not impact the Company's results of operations, financial condition, or liquidity. m) Recently Issued Accounting Standards Not Yet Adopted Measurement of Credit Losses on Financial Instrument In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments, " which replaces the "incurred loss" impairment methodology with an approach based on "expected losses" to estimate credit losses on certain types of financial instruments and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The Company's mortgage loans, held for investment, insurance and reinsurance premium balances receivable and its reinsurance recoverables on unpaid and paid losses and loss expenses are its more significant financial assets within the scope of ASU 2016-13. The guidance requires financial assets to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the cost of the financial asset to present the net carrying value at the amount expected to be collected on the financial asset. This guidance is effective for interim and annual periods beginning after December 15, 2019. The Company does not anticipate that the adoption of this guidance will have a material impact on its results of operations, financial condition or liquidity. The Company will also be impacted by the targeted changes to the impairment model for available for sale securities introduced in ASU 2016-13. Credit losses relating to available for sale debt securities will be recorded through an allowance for credit losses. This guidance is effective for interim and annual periods beginning after December 15, 2019. The Company is currently evaluating the impact of this guidance on its results of operations, financial condition and liquidity.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
SEGMENT INFORMATION	AXIS Capital's underwriting operations are organized around its global underwriting platforms, AXIS Insurance and AXIS Re. The Company has determined that it has two reportable segments, insurance and reinsurance. The Company does not allocate its assets by segment, with the exception of goodwill and intangible assets, as it evaluates the underwriting results of each segment separately from the results of its investment portfolio. Insurance The Company's insurance segment offers specialty insurance products to a variety of niche markets on a worldwide basis. The product lines in this segment are property, marine, terrorism, aviation, credit and political risk, professional lines, liability, accident and health, and discontinued lines - Novae. Reinsurance The Company's reinsurance segment provides treaty reinsurance to insurance companies on a worldwide basis. The product lines in this segment are catastrophe, property, professional lines, credit and surety, motor, liability, agriculture, engineering, marine and other, accident and health, and discontinued lines - Novae. The reinsurance segment also wrote derivative based risk management products designed to address weather and commodity price risks until July 1, 2017. The following tables present the underwriting results of the Company's reportable segments, as well as the carrying amounts of allocated goodwill and intangible assets: At and year ended December 31, 2019 Insurance Reinsurance Total Gross premiums written $ 3,675,931 $ 3,222,927 $ 6,898,858 Net premiums written 2,209,155 2,280,460 4,489,615 Net premiums earned 2,190,084 2,397,094 4,587,178 Other insurance related income 2,858 13,586 16,444 Net losses and loss expenses (1,278,679 ) (1,766,119 ) (3,044,798 ) Acquisition costs (468,281 ) (556,301 ) (1,024,582 ) General and administrative expenses (401,963 ) (103,772 ) (505,735 ) Underwriting income (loss) $ 44,019 $ (15,512 ) $ 28,507 Net investment income 478,572 Net investment gains 91,233 Corporate expenses (129,096 ) Foreign exchange gains 12,041 Interest expense and financing costs (68,107 ) Reorganization expenses (37,384 ) Amortization of value of business acquired (26,722 ) Amortization of intangible assets (11,597 ) Income before income taxes and interest in income (loss) of equity method investments $ 337,447 Net losses and loss expenses ratio 58.4 % 73.7 % 66.4 % Acquisition cost ratio 21.4 % 23.2 % 22.3 % General and administrative expense ratio 18.3 % 4.3 % 13.9 % Combined ratio 98.1 % 101.2 % 102.6 % Goodwill and intangible assets $ 332,553 $ — $ 332,553 At and year ended December 31, 2018 Insurance Reinsurance Total Gross premiums written $ 3,797,592 $ 3,112,473 $ 6,910,065 Net premiums written 2,324,747 2,334,215 4,658,962 Net premiums earned 2,362,606 2,428,889 4,791,495 Other insurance related income 3,460 7,162 10,622 Net losses and loss expenses (1,494,323 ) (1,695,964 ) (3,190,287 ) Acquisition costs (399,193 ) (569,642 ) (968,835 ) General and administrative expenses (395,252 ) (123,916 ) (519,168 ) Underwriting income $ 77,298 $ 46,529 $ 123,827 Net investment income 438,507 Net investment losses (150,218 ) Corporate expenses (108,221 ) Foreign exchange gains 29,165 Interest expense and financing costs (67,432 ) Reorganization expenses (66,940 ) Amortization of value of business acquired (172,332 ) Amortization of intangible assets (13,814 ) Income before income taxes and interest in income (loss) of equity method investments $ 12,542 Net losses and loss expenses ratio 63.2 % 69.8 % 66.6 % Acquisition cost ratio 16.9 % 23.5 % 20.2 % General and administrative expense ratio 16.8 % 5.1 % 13.1 % Combined ratio 96.9 % 98.4 % 99.9 % Goodwill and intangible assets $ 343,571 $ — $ 343,571 At and year ended December 31, 2017 Insurance Reinsurance Total Gross premiums written $ 2,814,918 $ 2,741,355 $ 5,556,273 Net premiums written 1,775,825 2,251,318 4,027,143 Net premiums earned 1,816,438 2,332,322 4,148,760 Other insurance related income (losses) 2,944 (4,184 ) (1,240 ) Net losses and loss expenses (1,465,427 ) (1,822,345 ) (3,287,772 ) Acquisition costs (270,229 ) (553,362 ) (823,591 ) General and administrative expenses (325,368 ) (124,115 ) (449,483 ) Underwriting loss $ (241,642 ) $ (171,684 ) $ (413,326 ) Net investment income 400,805 Net investment gains 28,226 Corporate expenses (129,945 ) Foreign exchange losses (134,737 ) Interest expense and financing costs (54,811 ) Bargain purchase gain 15,044 Transaction and reorganization expenses (26,718 ) Amortization of value of business acquired (50,104 ) Amortization of intangible assets (2,543 ) Loss before income taxes and interest in income (loss) of equity method investments $ (368,109 ) Net losses and loss expenses ratio 80.7 % 78.1 % 79.2 % Acquisition cost ratio 14.9 % 23.7 % 19.9 % General and administrative expense ratio 17.9 % 5.3 % 14.0 % Combined ratio 113.5 % 107.1 % 113.1 % Goodwill and intangible assets $ 359,990 $ — $ 359,990 The following table presents gross premiums written by the geographical location of the Company's subsidiaries: Years ended December 31, 2019 2018 2017 Bermuda $ 738,258 $ 606,452 $ 529,425 Ireland 1,679,646 1,805,882 1,569,956 U.S. 3,090,547 2,811,537 2,814,933 Lloyd's of London 1,390,407 1,686,194 641,959 Gross premiums written $ 6,898,858 $ 6,910,065 $ 5,556,273 The following table presents net premiums earned by segment and line of business: Years ended December 31, 2019 2018 2017 Insurance Property $ 633,550 $ 796,945 $ 543,342 Marine 281,764 300,944 181,533 Terrorism 47,345 49,150 36,084 Aviation 55,028 74,203 75,107 Credit and political risk 91,698 102,825 56,432 Professional lines 661,250 570,241 519,759 Liability 264,667 229,373 188,770 Accident and health 144,499 207,777 199,121 Discontinued lines - Novae 10,283 31,148 16,290 Total Insurance 2,190,084 2,362,606 1,816,438 Reinsurance Catastrophe 267,591 250,016 209,470 Property 311,625 317,038 304,376 Professional lines 206,328 220,687 226,622 Credit and surety 208,717 250,276 244,186 Motor 398,565 438,693 371,501 Liability 373,664 363,292 351,940 Agriculture 188,925 176,435 195,391 Engineering 63,899 67,932 66,291 Marine and other 59,209 35,570 64,449 Accident and health 319,619 299,813 289,925 Discontinued lines - Novae (1,048 ) 9,137 8,171 Total Reinsurance 2,397,094 2,428,889 2,332,322 Total $ 4,587,178 $ 4,791,495 $ 4,148,760

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	The table below provides details of goodwill and intangible assets related to the Company's insurance segment: Goodwill Intangible assets with an indefinite life Intangible assets with a finite life Total Balance at December 31, 2017 Gross amount $ 42,237 $ 26,036 $ 23,030 $ 91,303 Accumulated amortization n/a n/a (11,165 ) (11,165 ) Accumulated translation adjustment 4,911 — — 4,911 47,148 26,036 11,865 85,049 Acquired during the year 54,855 94,748 387,545 537,148 Amortization n/a n/a (55,369 ) (55,369 ) Balance at December 31, 2018 Gross amount 97,092 120,784 410,575 628,451 Accumulated amortization n/a n/a (66,534 ) (66,534 ) Accumulated translation adjustment 4,911 — — 4,911 102,003 120,784 344,041 566,828 Amortization n/a n/a (184,043 ) (184,043 ) Impairment charges — — (3,500 ) (3,500 ) Balance at December 31, 2019 Gross amount $ 97,092 $ 120,784 $ 404,304 $ 622,180 Accumulated amortization n/a n/a (247,804 ) (247,804 ) Accumulated translation adjustment 4,911 — — 4,911 102,003 120,784 156,500 379,287 Amortization n/a n/a (37,742 ) (37,742 ) $ 102,003 $ 120,784 $ 118,758 $ 341,545 n/a – not applicable Acquisitions in 2017 In connection with the acquisition of Novae, the Company identified finite lived intangible assets of $385 million , including Value of Business Acquired ("VOBA") which represents the present value of the expected underwriting profit within policies that were in-force at the closing date of the transaction, of $257 million and other finite lived intangible assets primarily related to distribution networks of $128 million . In addition, the Company identified indefinite lived intangible assets related to Lloyd's syndicate capacity of $95 million . The Company also recognized goodwill of $54 million . In connection with the acquisition of Contessa Limited, the Company recognized goodwill of $1 million . Intangible Assets with an Indefinite Life Intangible assets with an indefinite life include U.S. state licenses that provide a legal right to transact business indefinitely and the value of Lloyd's syndicate capacity, which represents Novae's right to underwrite a certain allocated limit of premium in the Lloyd's market. Impairment Review The Company's impairment review of goodwill and indefinite lived intangibles did not result in the recognition of an impairment loss for the years ended December 31, 2019 and 2017 . For the year ended December 31 2018 , an impairment loss of $4 million was recognized related to the termination of the Managing General Agent ("MGA") contract intangible asset identified in connection with the acquisition of Novae. The tables below provide details of the gross amount and accumulated amortization by category of VOBA and intangible assets: VOBA and intangible assets Balance At December 31, 2019 Gross amount Accumulated amortization Total U.S. state licenses $ 26,036 n/a $ 26,036 Customer lists, trademark and non-compete - Media Pro (1) 9,700 (9,700 ) — Customer relationships and customers lists - Ternian (2) 13,330 (6,333 ) 6,997 VOBA - Novae 256,942 (247,950 ) 8,992 Syndicate capacity 94,748 n/a 94,748 Coverholders 63,565 (11,918 ) 51,647 Large brokers 46,641 (6,996 ) 39,645 SME brokers 14,126 (2,649 ) 11,477 $ 525,088 $ (285,546 ) $ 239,542 (1) On May 1, 2007, the Company acquired the assets and operations of Media/Professional Insurance (Media/Pro) and recognized the definite life intangible assets detailed above. (2) On April 1, 2015, the Company completed its acquisition of Ternian Insurance Group LLC and recognized definite life intangible assets detailed above. VOBA and intangible assets Balance At December 31, 2018 Gross amount Accumulated amortization and impairment Total U.S. state licenses $ 26,036 n/a $ 26,036 Customer lists, trademark and non-compete - Media Pro 9,700 (9,598 ) 102 Customer relationships and customers lists - Ternian 13,330 (4,999 ) 8,331 VOBA - Aviabel 2,140 (2,140 ) — VOBA - Novae 256,942 (221,228 ) 35,714 Syndicate capacity 94,748 n/a 94,748 Coverholders 63,565 (6,622 ) 56,943 Large brokers 46,641 (3,888 ) 42,753 SME brokers 14,126 (1,471 ) 12,655 MGA contract (1) 4,131 (4,131 ) — $ 531,359 $ (254,077 ) $ 277,282 (1) During the year ended December 31, 2018, an impairment charge of $3,500 was recognized related to the termination of the MGA contract intangible asset identified in connection with the acquisition of Novae. The table below provides details of estimated amortization expense of VOBA and intangible assets with a finite life: VOBA Intangible assets Total 2020 5,139 10,916 16,055 2021 3,853 10,916 14,769 2022 — 10,916 10,916 2023 — 10,916 10,916 2024 — 10,916 10,916 2025 and thereafter — 55,186 55,186 Total remaining amortization expense 8,992 109,766 118,758 Indefinite lived intangible assets — 120,784 120,784 Total intangible assets $ 8,992 $ 230,550 $ 239,542 The estimated remaining useful lives of finite lived intangible assets range from 2 to 13 years.

INVESTMENTS

INVESTMENTS	12 Months Ended
	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	a) Fixed Maturities and Equity Securities Fixed Maturities The following table provides the amortized cost and fair values of the Company's fixed maturities classified as available for sale: Amortized Gross Gross Fair At December 31, 2019 Fixed maturities U.S. government and agency $ 2,102,849 $ 16,345 $ (6,313 ) $ 2,112,881 Non-U.S. government 564,505 14,535 (2,448 ) 576,592 Corporate debt 4,797,384 140,426 (7,556 ) 4,930,254 Agency RMBS (1) 1,570,823 25,215 (3,454 ) 1,592,584 CMBS (2) 1,340,156 29,838 (4,942 ) 1,365,052 Non-Agency RMBS 84,381 1,393 (852 ) 84,922 ABS (3) 1,599,867 4,706 (5,880 ) 1,598,693 Municipals (4) 203,275 4,359 (407 ) 207,227 Total fixed maturities $ 12,263,240 $ 236,817 $ (31,852 ) $ 12,468,205 At December 31, 2018 Fixed maturities U.S. government and agency $ 1,520,142 $ 4,232 $ (8,677 ) $ 1,515,697 Non-U.S. government 507,550 1,586 (16,120 ) 493,016 Corporate debt 4,990,279 15,086 (128,444 ) 4,876,921 Agency RMBS (1) 1,666,684 6,508 (29,884 ) 1,643,308 CMBS (2) 1,103,507 2,818 (13,795 ) 1,092,530 Non-Agency RMBS 40,732 1,237 (1,282 ) 40,687 ABS (3) 1,651,350 1,493 (15,240 ) 1,637,603 Municipals (4) 136,068 914 (1,397 ) 135,585 Total fixed maturities $ 11,616,312 $ 33,874 $ (214,839 ) $ 11,435,347 (1) Residential mortgage-backed securities ("RMBS") originated by U.S. government-sponsored agencies. (2) Commercial mortgage-backed securities ("CMBS"). (3) Asset-backed securities ("ABS") include debt tranched securities collateralized primarily by auto loans, student loans, credit card receivables and collateralized loan obligations ("CLOs"). (4) Municipals include bonds issued by states, municipalities and political subdivisions. Equity Securities The following table provides the cost and fair values of the Company's equity securities: Cost Gross Gross Fair At December 31, 2019 Equity securities Common stocks $ 504 $ 77 $ (388 ) $ 193 Exchange-traded funds 215,986 81,444 (105 ) 297,325 Bond mutual funds 182,466 — (5,777 ) 176,689 Total equity securities $ 398,956 $ 81,521 $ (6,270 ) $ 474,207 At December 31, 2018 Equity securities Common stocks $ 790 $ 112 $ (375 ) $ 527 Exchange-traded funds 213,420 33,498 (10,079 ) 236,839 Bond mutual funds 151,695 — (7,428 ) 144,267 Total equity securities $ 365,905 $ 33,610 $ (17,882 ) $ 381,633 In the normal course of investing activities, the Company actively manages allocations to non-controlling tranches of structured securities which are variable interests issued by Variable Interest Entities ("VIEs"). These structured securities include RMBS, CMBS and ABS. The Company also invests in limited partnerships which represent 55% of the Company's other investments. The investments in limited partnerships include hedge funds, direct lending funds, private equity funds and real estate funds as well as CLO equity tranched securities, which are variable interests issued by VIEs (refer to Note 5(c) ' Other Investments '). The Company does not have the power to direct the activities that are most significant to the economic performance of these VIEs therefore the Company is not the primary beneficiary of these VIEs. The maximum exposure to loss on these interests is limited to the amount of investment made by the Company. The Company has not provided financial or other support to these structured securities other than the original investment. Contractual Maturities Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. The table below provides the contractual maturities of fixed maturities: Amortized cost Fair value % of Total fair value At December 31, 2019 Maturity Due in one year or less $ 438,881 $ 443,228 3.6 % Due after one year through five years 4,810,202 4,884,837 39.2 % Due after five years through ten years 2,091,486 2,157,157 17.3 % Due after ten years 327,444 341,732 2.7 % 7,668,013 7,826,954 62.8 % Agency RMBS 1,570,823 1,592,584 12.8 % CMBS 1,340,156 1,365,052 10.9 % Non-Agency RMBS 84,381 84,922 0.7 % ABS 1,599,867 1,598,693 12.8 % Total $ 12,263,240 $ 12,468,205 100.0 % At December 31, 2018 Maturity Due in one year or less $ 430,390 $ 426,142 3.7 % Due after one year through five years 4,751,064 4,691,263 41.0 % Due after five years through ten years 1,762,452 1,697,737 14.8 % Due after ten years 210,133 206,077 1.8 % 7,154,039 7,021,219 61.3 % Agency RMBS 1,666,684 1,643,308 14.4 % CMBS 1,103,507 1,092,530 9.6 % Non-Agency RMBS 40,732 40,687 0.4 % ABS 1,651,350 1,637,603 14.3 % Total $ 11,616,312 $ 11,435,347 100.0 % Gross Unrealized Losses The following table summarizes fixed maturities and equity securities in an unrealized loss position and the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position: 12 months or greater Less than 12 months Total Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses At December 31, 2019 Fixed maturities U.S. government and agency $ 9,536 $ (67 ) $ 614,705 $ (6,246 ) $ 624,241 $ (6,313 ) Non-U.S. government 99,466 (2,036 ) 18,361 (412 ) 117,827 (2,448 ) Corporate debt 121,635 (3,847 ) 375,858 (3,709 ) 497,493 (7,556 ) Agency RMBS 195,395 (1,816 ) 326,402 (1,638 ) 521,797 (3,454 ) CMBS 24,281 (64 ) 364,641 (4,878 ) 388,922 (4,942 ) Non-Agency RMBS 6,345 (792 ) 25,816 (60 ) 32,161 (852 ) ABS 535,780 (4,667 ) 404,641 (1,213 ) 940,421 (5,880 ) Municipals 5,418 (34 ) 46,684 (373 ) 52,102 (407 ) Total fixed maturities $ 997,856 $ (13,323 ) $ 2,177,108 $ (18,529 ) $ 3,174,964 $ (31,852 ) At December 31, 2018 Fixed maturities U.S. government and agency $ 374,030 $ (7,659 ) $ 424,439 $ (1,018 ) $ 798,469 $ (8,677 ) Non-U.S. government 44,339 (2,004 ) 303,376 (14,116 ) 347,715 (16,120 ) Corporate debt 1,439,378 (58,915 ) 2,547,135 (69,529 ) 3,986,513 (128,444 ) Agency RMBS 940,645 (29,255 ) 117,181 (629 ) 1,057,826 (29,884 ) CMBS 455,582 (11,430 ) 353,802 (2,365 ) 809,384 (13,795 ) Non-Agency RMBS 9,494 (1,170 ) 11,432 (112 ) 20,926 (1,282 ) ABS 237,237 (2,755 ) 1,150,692 (12,485 ) 1,387,929 (15,240 ) Municipals 68,814 (1,373 ) 9,894 (24 ) 78,708 (1,397 ) Total fixed maturities $ 3,569,519 $ (114,561 ) $ 4,917,951 $ (100,278 ) $ 8,487,470 $ (214,839 ) Fixed Maturities At December 31, 2019 , 1,190 fixed maturities ( 2018 : 3,599 ) were in an unrealized loss position of $32 million ( 2018 : $215 million ) of which $5 million ( 2018 : $49 million ) was related to securities below investment grade or not rated. At December 31, 2019 , 497 fixed maturities ( 2018 : 1,656 ) had been in a continuous unrealized loss position for twelve months or greater and had a fair value of $998 million ( 2018 : $3,570 million ). Following a credit impairment review, it was concluded that these securities as well as the remaining securities in an unrealized loss position were temporarily impaired at December 31, 2019 , and were expected to recover in value as the securities approach maturity. At December 31, 2019 , the Company did not intend to sell the securities in an unrealized loss position and it is more likely than not that the Company will not be required to sell these securities before the anticipated recovery of their amortized costs. b) Mortgage Loans The following table provides details of the Company's mortgage loans held-for-investment: December 31, 2019 December 31, 2018 Carrying value % of Total Carrying value % of Total Mortgage Loans held-for-investment: Commercial $ 432,748 100 % $ 298,650 100 % Total Mortgage Loans held-for-investment $ 432,748 100 % $ 298,650 100 % The primary credit quality indicator for commercial mortgage loans is the debt service coverage ratio which compares a property’s net operating income to amounts needed to service the principal and interest due under the loan, (generally, the lower the debt service coverage ratio, the higher the risk of experiencing a credit loss) and the loan-to-value ratio which compares the unpaid principal balance of the loan to the estimated fair value of the underlying collateral (generally, the higher the loan-to-value ratio, the higher the risk of experiencing a credit loss). The debt service coverage ratio and loan-to-value ratio, as well as the values utilized in calculating these ratios, are updated annually, on a rolling basis. The Company has a high quality mortgage loan portfolio with a weighted average debt service coverage ratio of 2.1 x and a weighted average loan-to-value ratio of 57% . At December 31, 2019 and 2018 , there were no credit losses or past due amounts associated with the commercial mortgage loans held by the Company. c) Other Investments The following table provides a summary of the Company's other investments, together with additional information relating to the liquidity of each category: Fair value Redemption frequency (if currently eligible) Redemption notice period At December 31, 2019 Long/short equity funds $ 31,248 4 % Annually 60 days Multi-strategy funds 136,542 18 % Quarterly, Semi-annually 60-90 days Direct lending funds 277,395 36 % n/a n/a Private equity funds 80,412 10 % n/a n/a Real estate funds 130,112 17 % n/a n/a CLO-Equities 14,328 2 % n/a n/a Other privately held investments 36,934 5 % n/a n/a Overseas deposits 63,952 8 % n/a n/a Total other investments $ 770,923 100 % At December 31, 2018 Long/short equity funds $ 26,779 3 % Annually 60 days Multi-strategy funds 167,819 22 % Quarterly, Semi-annually, Annually 45-95 days Direct lending funds 274,478 35 % n/a n/a Private equity funds 64,566 8 % n/a n/a Real estate funds 84,202 11 % n/a n/a CLO-Equities 21,271 2 % n/a n/a Other privately held investments 44,518 6 % n/a n/a Overseas deposits 104,154 13 % n/a n/a Total other investments $ 787,787 100 % n/a – not applicable The investment strategies for the above funds are as follows: • Long/short equity funds : Seek to achieve attractive returns primarily by executing an equity trading strategy involving long and short investments in publicly-traded equity securities. • Multi-strategy funds : Seek to achieve above-market returns by pursuing multiple investment strategies to diversify risks and reduce volatility. This category includes funds of hedge funds which invest in a large pool of hedge funds across a diversified range of hedge fund strategies. • Direct lending funds : Seek to achieve attractive risk-adjusted returns, including current income generation, by investing in funds which provide financing directly to borrowers. • Private equity funds : Seek to achieve attractive risk-adjusted returns by investing in private transactions over the course of several years. • Real estate funds : Seek to achieve attractive risk-adjusted returns by making and managing investments in real estate and real estate securities and businesses. Two common redemption restrictions which may impact the Company's ability to redeem hedge funds are gates and lockups. A gate is a suspension of redemptions which may be implemented by the general partner or investment manager of the fund in order to defer, in whole or in part, the redemption request in the event the aggregate amount of redemption requests exceeds a predetermined percentage of the fund’s net assets which may otherwise hinder the general partner or investment manager’s ability to liquidate holdings in an orderly fashion in order to generate the cash necessary to fund extraordinarily large redemption payouts. A lockup period is the initial amount of time an investor is contractually required to hold the security before having the ability to redeem. During 2019 and 2018 , neither of these restrictions impacted the Company's redemption requests. At December 31, 2019 , $69 million ( 2018 : $27 million ), representing 41% ( 2018 : 14% ) of total hedge funds, relate to holdings where the Company is still within the lockup period. The expiration of these lockup periods range from October 2020 to March 2022. At December 31, 2019 , the Company had $170 million ( 2018 : $210 million ) of unfunded commitments as a limited partner in direct lending funds. Once the full amount of committed capital has been called by the General Partner of each of these funds, the assets will not be fully returned until the completion of the fund's investment term. These funds have investment terms ranging from five to ten years and the General Partners of certain funds have the option to extend the term by up to three years . At December 31, 2019 , the Company had $24 million ( 2018 : $84 million ) of unfunded commitments as a limited partner in multi-strategy hedge funds. Once the full amount of committed capital has been called by the General Partner of each of these funds, the assets will not be fully returned until after the completion of the funds' investment term. These funds have investment terms ranging from two years to the dissolution of the underlying fund. At December 31, 2019 , the Company had $82 million ( 2018 : $147 million ) of unfunded commitments as a limited partner in funds which invest in real estate and real estate securities and businesses. These funds include an open-ended fund and funds with investment terms ranging from seven years to the dissolution of the underlying fund. At December 31, 2019 , the Company had $261 million ( 2018 : $16 million ) of unfunded commitments as a limited partner in private equity funds. The life of the funds is subject to the dissolution of the underlying funds. The Company expects the overall holding period to be over five years . During 2015, the Company made a $50 million commitment as a limited partner of a bank revolver opportunity fund. The fund has an investment term of seven years and the General Partners have the option to extend the term by up to two years . At December 31, 2019 , this commitment remains unfunded. It is not anticipated that the full amount of this fund will be drawn. Syndicate 2007 holds overseas deposits which include investments in private funds where the underlying investments are primarily U.S. government, non-U.S. government and corporate debt securities. The funds do not trade on an exchange and therefore are not included within available for sale investments. d) Equity Method Investments During 2016, the Company paid $108 million including direct transaction costs to acquire 19% of the common equity of Harrington Reinsurance Holdings Limited ("Harrington"), the parent company of Harrington Re Ltd. ("Harrington Re"), an independent reinsurance company jointly sponsored by the Company and The Blackstone Group L.P. ("Blackstone"). Through long-term service agreements, the Company will serve as Harrington Re's reinsurance underwriting manager and Blackstone will serve as exclusive investment management service provider. As an investor, the Company expects to benefit from underwriting profit generated by Harrington Re and the income and capital appreciation Blackstone seeks to deliver through its investment management services. In addition, the Company has entered into an arrangement with Blackstone under which underwriting and investment related fees will be shared equally. Harrington is not a VIE that is required to be included in the Company's consolidated financial statements. The Company accounts for its ownership interest in Harrington under the equity method of accounting. The Company's proportionate share of the underlying equity in net assets resulted in a basis difference of $5 million which represents initial transactions costs. For the year ended December 31, 2017, the Company recorded an impairment charge of $9 million , related to a U.S. based insurance company, which reduced the carrying value of the investment to $ nil . This charge was included in interest in income (loss) of equity method investments in the consolidated statement of operations. e) Net Investment Income Net investment income was derived from the following sources: Year ended December 31, 2019 2018 2017 Fixed maturities $ 384,053 $ 356,273 $ 312,662 Other investments 60,038 48,959 76,858 Equity securities 10,434 10,077 14,919 Mortgage loans 14,712 13,566 10,780 Cash and cash equivalents 26,882 27,566 10,057 Short-term investments 7,053 9,365 2,718 Gross investment income 503,172 465,806 427,994 Investment expenses (24,600 ) (27,299 ) (27,189 ) Net investment income $ 478,572 $ 438,507 $ 400,805 f) Net Investment Gains (Losses) The following table provides an analysis of net investment gains (losses): Year ended December 31, 2019 2018 2017 Gross realized investment gains Fixed maturities and short-term investments $ 93,160 $ 46,067 $ 72,046 Equity securities 3,449 20,435 78,343 Gross realized investment gains 96,609 66,502 150,389 Gross realized investment losses Fixed maturities and short-term investments (56,515 ) (142,153 ) (98,442 ) Equity securities (323 ) (3,389 ) (959 ) Gross realized investment losses (56,838 ) (145,542 ) (99,401 ) Net OTTI charge recognized in net income (6,984 ) (9,733 ) (14,493 ) Change in fair value of investment derivatives (1) (1,823 ) 5,445 (8,269 ) Net unrealized gains (losses) on equity securities (2) 60,269 (66,890 ) — Net investment gains (losses) $ 91,233 $ (150,218 ) $ 28,226 (1) Refer to Note 7 'Derivative Instruments' (2) Effective January 1, 2018, the Company adopted ASU No. 2016-01 which requires the change in fair value of equity securities to be recognized in net income. The following table summarizes the OTTI charge recognized in net income by asset class: Year ended December 31, 2019 2018 2017 Fixed maturities: Non-U.S. government $ 90 $ 4,697 $ 8,187 Corporate debt 6,894 4,995 6,306 Non-Agency CMBS — 41 — Total OTTI recognized in net income $ 6,984 $ 9,733 $ 14,493 Fixed Maturities The credit loss component of an OTTI charge recognized in net income is calculated based on the difference between the amortized cost of the security and the net present value of its projected future cash flows. A summary of credit loss activity by asset class, the significant inputs and the methodology used to estimate credit losses are described below. U.S. Government, U.S. Agency and U.S. Agency RMBS: Unrealized losses on securities issued or backed, either explicitly or implicitly by the U.S. government are not analyzed for OTTI. The Company has concluded that the possibility of a credit loss on these securities is highly unlikely due to the explicit U.S. government guarantee related to certain securities (e.g. Government National Mortgage Association issuances) and the implicit guarantee related to other securities that has been validated by past actions (e.g. U.S. government bailout of Federal National Mortgage Association and Federal Home Loan Mortgage Corporation during the 2008 credit crisis). Although these securities are not analyzed for credit losses, they are evaluated for intention to sell and likely requirement to sell. Non-U.S. Government: Non-U.S. government securities are evaluated for credit losses primarily through qualitative assessments of the likelihood of credit losses using information such as duration, severity of unrealized losses, credit ratings and price volatility. At December 31, 2019 , the Company's holdings of non-U.S. government securities, including $37 million ( 2018 : $29 million ) relating to the eurozone countries, were substantially all investment-grade securities. At December 31, 2019 , the gross unrealized losses of $2 million (2018: $16 million ) were mainly due to foreign exchange losses. At December 31, 2019 , the Company does not anticipate any credit losses on its non-U.S. government fixed maturities. In 2019 , the OTTI charge on non-U.S. government fixed maturities mainly related to unrealized foreign exchange losses on certain securities where the forecasted recovery of the amortized cost of these securities was uncertain. Corporate Debt: To estimate credit losses for corporate debt securities, the Company's projected cash flows are primarily driven by assumptions regarding the probability of default and the severity associated with those defaults. The Company's default and loss severity rates are based on credit rating, credit analysis, industry analyst reports and forecasts, Moody’s historical default data and any other data relevant to the recoverability of the security. In 2019 , the OTTI charge on corporate debt securities mainly related to loss severity, unrealized foreign exchange losses on certain securities where the forecasted recovery of the amortized cost of these securities was uncertain, and instances where the Company intended to sell securities before the forecasted recovery of the amortized cost of these securities. CMBS: The Company's investments in CMBS are diversified and primarily rated AA or better. At December 31, 2019 , CMBS had a weighted average estimated subordination percentage of 29% ( 2018 : 31% ). Based on discounted cash flows at December 31, 2019 , the current level of subordination is sufficient to cover the estimated loan losses on the underlying collateral of the CMBS. Non-agency RMBS: To estimate credit losses for non-agency RMBS, the Company's projected cash flows incorporated underlying data from widely accepted third-party data sources along with certain internal assumptions and judgments regarding the future performance of the security. These assumptions included default, delinquency, loss severity and prepayment rates. The assumptions used to calculate credit losses in 2019 have not changed significantly since December 31, 2018 . At December 31, 2019 , the fair value of the Company's non-agency RMBS was $85 million ( 2018 : $41 million ), consisting primarily of $54 million ( 2018 : $31 million ) of Prime and $11 million ( 2018 : $5 million ) of Alt-A MBS. At December 31, 2019 , the Company does not anticipate any credit losses on its non-agency RMBS. ABS: The Company's investments in ABS consist mainly of CLO debt tranched securities ("CLO Debt") purchased primarily as new issues during 2017 and 2018. Substantially all of these new issues had credit ratings of AA or better. The Company utilizes a scenario-based approach to review its CLO Debt portfolio based on the current asset market price. The Company also reviews subordination levels of these securities to determine their ability to absorb credit losses of underlying collateral. If losses are forecast to be below the subordination level for a tranche held by the Company, the security is determined not to be impaired. At December 31, 2019 , the Company does not anticipate any credit losses on its CLO Debt. g) Restricted Assets In order to support the Company's obligations in regulatory jurisdictions where it operates as a non-admitted carrier, the Company provides collateral in the form of assets held in trust and, to a lesser extent, letters of credit (refer to Note 10(b) ' Debt and Financing Arrangement s'). In addition, the Company operates in the Lloyd’s market through its corporate members, AXIS Corporate Capital UK Limited and AXIS Corporate Capital UK II Limited, which provide 70% and 30% , respectively of Syndicate 1686's capital support. AXIS Corporate Capital UK II Limited is the sole corporate member of Syndicate 2007. Lloyd’s sets capital requirements for corporate members annually through the application of a capital model that is based on regulatory rules pursuant to Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking up and pursuit of business of Insurance and Reinsurance (Solvency II) ("Solvency II"). The capital provided to support underwriting, or Funds at Lloyd’s ("FAL"), may be satisfied by cash, certain investments and letters of credit provided by approved banks (refer to Note 11 'Commitments and Contingencies' and Note 21 ' Statutory Financial Information' ). At December 31, 2019 collateral held in trust for third-party agreements of $1,856 million included $365 million ( 2018 : $403 million ) of fixed maturities and equity securities, and cash of $16 million ( 2018 : $39 million ) held on deposit to support the underwriting activities of Syndicate 2007, and also included $169 million ( 2018 : $ nil ) of fixed maturities and equity securities, and cash of $181 million ( 2018 : $154 million ) held on deposit to support the underwriting activities of Syndicate 1686. The Company's restricted investments and cash primarily consist of high-quality fixed maturity and short-term investment securities. The table below provides the fair values of the Company's restricted investments and cash: At December 31, 2019 2018 Collateral in Trust for inter-company agreements $ 1,580,689 $ 2,121,522 Collateral for secured letter of credit facility 473,187 470,051 Funds at Lloyd's 1,314,345 1,307,945 Collateral in Trust for third-party agreements 1,856,327 1,510,416 Securities on deposit with regulatory authorities 76,229 64,360 Total restricted investments $ 5,300,777 $ 5,474,294 h) Reverse Repurchase Agreements At December 31, 2019 , the Company held no ( 2018 : $189 million ) reverse repurchase agreements. These loans are fully collateralized, are generally outstanding for a short period of time and are presented on a gross basis as part of cash and cash equivalents in the Company's consolidated balance sheets. The required collateral for these loans is either cash or U.S. Treasuries at a minimum rate of 102% of the loan principal. At maturity, the Company receives principal and interest income. The Company monitors the estimated fair value of the securities loaned and borrowed on a daily basis with additional collateral obtained as necessary throughout the duration of the transaction.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	Fair Value Hierarchy Fair value is defined as the price to sell an asset or transfer a liability (i.e. the "exit price") in an orderly transaction between market participants. U.S. GAAP prescribes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to quoted prices in active markets and the lowest priority to unobservable data. The level in the hierarchy within which a given fair value measurement falls is determined based on the lowest level input that is significant to the measurement. The hierarchy is broken down into three levels as follows: • Level 1 - Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. • Level 2 - Valuations based on quoted prices in active markets for similar assets or liabilities, quoted prices for identical assets or liabilities in inactive markets, or for which significant inputs are observable (e.g. interest rates, yield curves, prepayment speeds, default rates, loss severities, etc.) or can be corroborated by observable market data. • Level 3 - Valuations based on inputs that are unobservable and significant to the overall fair value measurement. The unobservable inputs reflect the Company's own judgments about assumptions that market participants might use. The availability of observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety of factors including, for example, the type of financial instrument, whether the financial instrument is new and not yet established in the marketplace, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires significantly more judgment. Accordingly, the degree of judgment exercised by management in determining fair value is greatest for financial instruments categorized as Level 3. In periods of market dislocation, the observability of prices and inputs may be reduced for many financial instruments. This may lead the Company to change the selection of valuation technique (from market to cash flow approach) or may cause the Company to use multiple valuation techniques to estimate the fair value of a financial instrument. This circumstance could cause an instrument to be reclassified between levels within the fair value hierarchy. Valuation Techniques The valuation techniques, including significant inputs and assumptions generally used to determine the fair values of the Company's financial instruments as well as the classification of the fair values of its financial instruments in the fair value hierarchy are described in detail below. Fixed Maturities At each valuation date, the Company uses the market approach valuation technique to estimate the fair value of its fixed maturities portfolio, where possible. The market approach includes, but is not limited to, prices obtained from third-party pricing services for identical or comparable securities and the use of "pricing matrix models" using observable market inputs such as yield curves, credit risks and spreads, measures of volatility, and prepayment speeds. Pricing from third-party pricing services is sourced from multiple vendors, where available, and the Company maintains a vendor hierarchy by asset type based on historical pricing experience and vendor expertise. Where prices are unavailable from pricing services, the Company obtains non-binding quotes from broker-dealers who are active in the corresponding markets. The valuation techniques including significant inputs and assumptions generally used to determine the fair values of the Company's fixed maturities by asset class as well as the classifications of the fair values of these securities in the fair value hierarchy are described in detail below. U.S. Government and Agency U.S. government and agency securities consist primarily of bonds issued by the U.S. Treasury and mortgage pass-through agencies such as the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation and the Government National Mortgage Association. As the fair values of U.S. Treasury securities are based on unadjusted quoted market prices in active markets, the fair values of these securities are classified as Level 1. The fair values of U.S. government agency securities are determined using the spread above the risk-free yield curve. As the yields for the risk-free yield curve and the spreads are observable market inputs, the fair values of U.S. government agency securities are classified as Level 2. Non-U.S. Government Non-U.S. government securities include bonds issued by non-U.S. governments and their agencies along with supranational organizations (collectively also known as sovereign debt securities). The fair values of these securities are based on prices obtained from international indices or valuation models that include inputs such as interest rate yield curves, cross-currency basis index spreads and country credit spreads for structures similar to the sovereign bond in terms of issuer, maturity and seniority. As the significant inputs used to price these securities are observable market inputs, the fair values of non-U.S. government securities are classified as Level 2. Corporate Debt Corporate debt securities consist primarily of investment-grade debt of a wide variety of corporate issuers and industries. The fair values of these securities are generally determined using the spread above the risk-free yield curve. These spreads are generally obtained from the new issue market, secondary trading and broker-dealer quotes. As the yields for the risk-free yield curve and the spreads are observable market inputs, the fair values of corporate debt securities are generally classified as Level 2. Where pricing is unavailable from pricing services, the Company obtains non-binding quotes from broker-dealers to estimate fair value. This is generally the case when there is a low volume of trading activity and current transactions are not orderly. In this event, the fair values of these securities are classified as Level 3. Agency RMBS Agency RMBS consist of bonds issued by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation and the Government National Mortgage Association. The fair values of these securities are priced using a mortgage pool specific model which uses daily inputs from the active to be announced market and the spread associated with each mortgage pool based on vintage. As the significant inputs used to price these securities are observable market inputs, the fair values of Agency RMBS are classified as Level 2. CMBS CMBS mainly include investment-grade bonds originated by non-agencies. The fair values of these securities are determined using a pricing model which uses dealer quotes and other available trade information along with security level characteristics to determine deal specific spreads. As the significant inputs used to price these securities are observable market inputs, the fair values of CMBS are generally classified as Level 2. Where pricing is unavailable from pricing services, the Company obtains non-binding quotes from broker-dealers to estimate fair value. This is generally the case when there is a low volume of trading activity and current transactions are not orderly. I n this event, the fair values of these securities are classified as Level 3. Non-agency RMBS Non-agency RMBS mainly include investment-grade bonds originated by non-agencies. The fair values of these securities are determined using an option adjusted spread model or other relevant models, which use inputs including available trade information or broker quotes, prepayment and default projections based on historical statistics of the underlying collateral and current market data. As the significant inputs used to price these securities are observable market inputs, the fair values of non-agency RMBS are generally classified as Level 2. Where pricing is unavailable from pricing services, the Company obtains non-binding quotes from broker-dealers to estimate fair value. This is generally the case when there is a low volume of trading activity and current transactions are not orderly. In this event, the fair values of these securities are classified as Level 3. ABS ABS mainly include investment-grade bonds backed by pools of loans with a variety of underlying collateral, including auto loans, student loans, credit card receivables and collateralized loan obligations ("CLOs") originated by a variety of financial institutions. The fair values of these securities are determined using a model which uses prepayment speeds and spreads sourced primarily from the new issue market. As the significant inputs used to price these securities are observable market inputs, the fair values of ABS are generally classified as Level 2. Where pricing is unavailable from pricing services, the Company obtains non-binding quotes from broker-dealers t o estimate fair value. This is generally the case when there is a low volume of trading activity and current transactions are not orderly. In this event, the fair values of these securities are classified as Level 3. Municipals Municipals comprise revenue and general obligation bonds issued by U.S. domiciled state and municipal entities. The fair values of these securities are determined using spreads obtained from the new issue market, trade prices and broker-dealers quotes. As the significant inputs used to price these securities are observable market inputs, the fair values of municipals are classified as Level 2. Equity Securities Equity securities include common stocks, exchange-traded funds and bond mutual funds. As the fair values of common stocks and exchange-traded funds are based on unadjusted quoted market prices in active markets, the fair values of these securities are classified as Level 1. As bond mutual funds have daily liquidity, the fair values of these securities are classified as Level 2. Other Investments The fair value of an indirect investment in CLO-Equities is estimated using an income approach valuation technique, specifically an externally developed discounted cash flow model due to the lack of observable and relevant trades in secondary markets. As the significant inputs used to price this security are unobservable, the fair value of the indirect investment in CLO-Equities is classified as Level 3. Other privately held investments include convertible preferred shares, common shares, convertible notes and notes payable. These securities are initially valued at cost, which approximates fair value. In subsequent measurement periods, the fair values of these investments are generally determined using capital statements obtained from each investee company. In order to assess the reasonableness of the information received from each investee company, the Company maintains an understanding of current market conditions, historical results, and emerging trends that may impact the results of operations, financial condition or liquidity of investee companies. In addition, the Company engages in regular communication with management at the investee companies. In 2018, the fair values of some of these investments were determined using an internally developed discounted cash flow model. As the significant inputs used to price these securities are unobservable, the fair values of other privately held investments are classified as Level 3. Overseas deposits include investments in private funds held by Syndicate 2007 where the underlying investments are primarily U.S. government, non-U.S. government and corporate debt securities. The funds do not trade on an exchange, therefore are not included in available for sale investments. As the significant inputs used to price the underlying investments are observable market inputs, the fair values of overseas deposits are classified as Level 2. Short-term Investments Short-term investments primarily comprise highly liquid securities with maturities greater than three months but less than one year from the date of purchase. These securities are typically not actively traded due to their approaching maturity, therefore their amortized cost approximates fair value. The fair values of short-term investments are classified as Level 2. Derivative Instruments Derivative instruments include foreign exchange forward contracts and exchange traded interest rate swaps that are customized to the Company's economic hedging strategies and trade in the over-the-counter derivative market. The fair values of these derivatives are determined using a market approach valuation technique based on significant observable market inputs from third-party pricing vendors, non-binding broker-dealer quotes and/or recent trading activity. As the significant inputs used to price these securities are observable market inputs, the fair values of these derivatives are classified as Level 2. Other underwriting-related derivatives include insurance and reinsurance contracts that are accounted for as derivatives. These derivative contracts are initially valued at cost which approximates fair value. In subsequent measurement periods, the fair values of these derivatives are determined using internally developed discounted cash flow models. As the significant inputs used to price these derivatives are unobservable, the fair values of these contracts are classified as Level 3. Insurance-linked Securities Insurance-linked securities comprise an investment in a catastrophe bond. As pricing is unavailable from pricing services, the Company obtains non-binding quotes from broker-dealers to estimate the fair value of this security. Pricing is generally unavailable when there is a low volume of trading activity and current transactions are not orderly therefore, the fair value of this security is classified as Level 3. Cash Settled Awards Cash settled awards comprise restricted stock units that form part of the Company's compensation program. Although the fair values of these awards are determined using observable quoted market prices in active markets, the restricted stock units are not actively traded. As the significant inputs used to price these securities are observable market inputs, the fair values of these liabilities are classified as Level 2. The tables below present the financial instruments measured at fair value on a recurring basis for the periods indicated: Quoted prices in active markets Significant other observable Significant unobservable inputs (Level 3) Fair value based on NAV practical expedient Total fair value At December 31, 2019 Assets Fixed maturities U.S. government and agency $ 2,053,622 $ 59,259 $ — $ — $ 2,112,881 Non-U.S. government — 576,592 — — 576,592 Corporate debt — 4,927,957 2,297 — 4,930,254 Agency RMBS — 1,592,584 — — 1,592,584 CMBS — 1,359,817 5,235 — 1,365,052 Non-Agency RMBS — 84,922 — — 84,922 ABS — 1,598,204 489 — 1,598,693 Municipals — 207,227 — — 207,227 2,053,622 10,406,562 8,021 — 12,468,205 Equity securities Common stocks 193 — — — 193 Exchange-traded funds 297,325 — — — 297,325 Bond mutual funds — 176,689 — — 176,689 297,518 176,689 — — 474,207 Other investments Hedge funds (1) — — — 167,790 167,790 Direct lending funds — — — 277,395 277,395 Private equity funds — — — 80,412 80,412 Real estate funds — — — 130,112 130,112 Other privately held investments — — 36,934 — 36,934 CLO-Equities — — 14,328 — 14,328 Overseas deposits — 63,952 — — 63,952 — 63,952 51,262 655,709 770,923 Short-term investments — 38,471 — — 38,471 Other assets Derivative instruments (refer to Note 7) — 3,174 — — 3,174 Total Assets $ 2,351,140 $ 10,688,848 $ 59,283 $ 655,709 $ 13,754,980 Liabilities Derivative instruments (refer to Note 7) $ — $ 3,965 $ 9,672 $ — $ 13,637 Cash settled awards (refer to Note 16) — 21,731 — — 21,731 Total Liabilities $ — $ 25,696 $ 9,672 $ — $ 35,368 (1) Includes Long/short equity and Multi-strategy funds. Quoted prices in active markets Significant other observable Significant unobservable inputs (Level 3) Fair value based on NAV practical expedient Total fair value At December 31, 2018 Assets Fixed maturities U.S. government and agency $ 1,480,466 $ 35,231 $ — $ — $ 1,515,697 Non-U.S. government — 493,016 — — 493,016 Corporate debt — 4,827,909 49,012 — 4,876,921 Agency RMBS — 1,643,308 — — 1,643,308 CMBS — 1,073,396 19,134 — 1,092,530 Non-Agency RMBS — 40,687 — — 40,687 ABS — 1,619,070 18,533 — 1,637,603 Municipals — 135,585 — — 135,585 1,480,466 9,868,202 86,679 — 11,435,347 Equity securities Common stocks 527 — — — 527 Exchange-traded funds 236,839 — — — 236,839 Bond mutual funds — 144,267 — — 144,267 237,366 144,267 — — 381,633 Other investments Hedge funds (1) — — — 194,598 194,598 Direct lending funds — — — 274,478 274,478 Private equity funds — — — 64,566 64,566 Real estate funds — — — 84,202 84,202 Other privately held investments — — 44,518 — 44,518 CLO-Equities — — 21,271 — 21,271 Overseas deposits — 104,154 — — 104,154 — 104,154 65,789 617,844 787,787 Short-term investments — 144,040 — — 144,040 Other assets Derivative instruments (refer to Note 7) — 8,237 — — 8,237 Total Assets $ 1,717,832 $ 10,268,900 $ 152,468 $ 617,844 $ 12,757,044 Liabilities Derivative instruments (refer to Note 7) $ — $ 4,223 $ 10,299 $ — $ 14,522 Cash settled awards (refer to Note 16) — 20,648 — — 20,648 Total Liabilities $ — $ 24,871 $ 10,299 $ — $ 35,170 (1) Includes Long/short equity and Multi-strategy funds. The following table quantifies the significant unobservable inputs used in estimating fair values at December 31, 2019 of investments classified as Level 3 in the fair value hierarchy: Fair value Valuation technique Unobservable input Range Weighted average Other investments - CLO-Equities $ 14,328 Discounted cash flow Default rates 3.5% 3.5% Loss severity rate 35.0% 35.0% Collateral spreads 3.0% 3.0% Estimated maturity dates 7 years 7 years Derivatives - Other underwriting-related derivatives $ (9,672 ) Discounted cash flow Discount rate 1.8% 1.8% Note: Fixed maturities and insurance-linked securities that are classified as Level 3 of $8 million are excluded from the above table as these securities are priced using broker-dealer quotes. In addition, other privately held investments of $37 million that are classified as Level 3 are excluded from the above table as these investments are priced using capital statements received from investee companies. Other Investments - CLO-Equities The CLO-Equities market continues to be relatively inactive with only a small number of transactions being observed, particularly related to transactions involving CLO-Equities held by the Company. Accordingly, the fair value of the Company's indirect investment in CLO-Equities is determined using a discounted cash flow model prepared by an external investment manager. The default and loss severity rates are the most judgmental unobservable market inputs to the discounted cash flow model to which the valuation of the Company's indirect investment in CLO-Equities is most sensitive. A significant increase (decrease) in either of these significant inputs in isolation would result in a lower (higher) fair value estimate for the investment in CLO-Equities and, in general, a change in default rate assumptions would be accompanied by a directionally similar change in loss severity rate assumptions. Collateral spreads and estimated maturity dates are less judgmental inputs as they are based on the historical average of actual spreads and the weighted average life of the current underlying portfolios, respectively. A significant increase (decrease) in either of these significant inputs in isolation would result in a higher (lower) fair value estimate for the investment in CLO-Equities. In general, these inputs have no significant interrelationship with each other or with default and loss severity rates. On a quarterly basis, the Company's valuation process for its indirect investment in CLO-Equities includes a review of the underlying cash flows and key assumptions used in the discounted cash flow model. The above significant unobservable inputs are reviewed and updated based on information obtained from secondary markets, including information received from the managers of the Company's CLO-Equities investment. In order to assess the reasonableness of the inputs the Company uses in the discounted cash flow model, the Company maintains an understanding of current market conditions, historical results, and emerging trends that may impact future cash flows. In addition, the assumptions the Company uses in its models are updated through regular communication with industry participants and ongoing monitoring of the deals in which the Company participates. Derivatives - Other Underwriting-related Derivatives Other underwriting-related derivatives are initially valued at cost which approximates fair value. In subsequent measurement periods, the fair values of these derivatives are determined using internally developed discounted cash flow models which use appropriate discount rates. The selection of an appropriate discount rate is judgmental and is the most significant unobservable input used in the valuation of these derivatives. A significant increase (decrease) in this input in isolation could result in a significantly lower (higher) fair value measurement for the derivative contracts. In order to assess the reasonableness of the inputs the Company uses in the discounted cash flow model, the Company maintains an understanding of current market conditions, historical results, as well as contract specific information that may impact future cash flows. The following table presents changes in Level 3 for financial instruments measured at fair value on a recurring basis: Opening balance Transfers into Level 3 Transfers out of Level 3 Included in net income (1) Included in OCI (2) Purchases Sales Settlements/ distributions Closing balance Change in unrealized gains/losses (3) Year ended December 31, 2019 Fixed maturities Corporate debt $ 49,012 $ — $ — $ 4,790 $ (4,168 ) $ — $ (6,068 ) $ (41,269 ) $ 2,297 $ — CMBS 19,134 — (7,077 ) — 142 — — (6,964 ) 5,235 — ABS 18,533 — (18,230 ) — 186 — — — 489 — 86,679 — (25,307 ) 4,790 (3,840 ) — (6,068 ) (48,233 ) 8,021 — Other investments Other privately held investments 44,518 — — 18,092 — 22,500 (48,176 ) — 36,934 5,150 CLO-Equities 21,271 — — (199 ) — — — (6,744 ) 14,328 (199 ) 65,789 — — 17,893 — 22,500 (48,176 ) (6,744 ) 51,262 4,951 Other assets Insurance-linked securities — — — — — — — — — — — — — — — — — — — — Total assets $ 152,468 $ — $ (25,307 ) $ 22,683 $ (3,840 ) $ 22,500 $ (54,244 ) $ (54,977 ) $ 59,283 $ 4,951 Other liabilities Derivative instruments 10,299 — — (627 ) — — — — 9,672 (627 ) Total liabilities $ 10,299 $ — $ — $ (627 ) $ — $ — $ — $ — $ 9,672 $ (627 ) Year ended December 31, 2018 Fixed maturities Corporate debt $ 52,897 $ 2,935 $ (4,279 ) $ (591 ) $ 6,343 $ 10,267 $ (7,446 ) $ (11,114 ) $ 49,012 $ — CMBS — 5,096 — — (145 ) 17,200 — (3,017 ) 19,134 — ABS — 1,979 — — (446 ) 17,000 — — 18,533 — 52,897 10,010 (4,279 ) (591 ) 5,752 44,467 (7,446 ) (14,131 ) 86,679 — Other investments Other privately held investments 46,430 — — (913 ) — 3,110 (4,109 ) — 44,518 (913 ) CLO-Equities 31,413 — — 6,627 — — — (16,769 ) 21,271 6,627 77,843 — — 5,714 — 3,110 (4,109 ) (16,769 ) 65,789 5,714 Other assets Insurance-linked securities 25,090 — — (90 ) — — — (25,000 ) — — 25,090 — — (90 ) — — — (25,000 ) — — Total assets $ 155,830 $ 10,010 $ (4,279 ) $ 5,033 $ 5,752 $ 47,577 $ (11,555 ) $ (55,900 ) $ 152,468 $ 5,714 Other liabilities Derivative instruments 11,510 — — (1,211 ) — — — — 10,299 (1,211 ) Total liabilities $ 11,510 $ — $ — $ (1,211 ) $ — $ — $ — $ — $ 10,299 $ (1,211 ) (1) Realized gains (losses) on fixed maturities, and realized and unrealized gains (losses) on other assets and other liabilities included in net income are included in net investment gains (losses). Realized and unrealized gains (losses) on other investments included in net income are included in net investment income. (2) Unrealized gains (losses) on fixed maturities are included in other comprehensive income ("OCI"). (3) Change in unrealized gains (losses) relating to assets held at the reporting date. Transfers into Level 3 from Level 2 There were no transfers into Level 3 from Level 2 during 2019. The transfers into Level 3 from Level 2 made during 2018 were primarily due to the lack of observable market inputs and multiple quotes from pricing vendors and broker-dealers for certain fixed maturities. Transfers out of Level 3 into Level 2 The transfers out of Level 3 into Level 2 made during 2019 and 2018 were primarily due to the availability of observable market inputs and multiple quotes from pricing vendors for certain fixed maturities. Measuring the Fair Value of Other Investments Using Net Asset Valuations The fair values of hedge funds, direct lending funds, private equity funds and real estate funds are estimated using net asset valuations ("NAVs") as advised by external fund managers or third-party administrators. For these funds, NAVs are based on the manager's or administrator's valuation of the underlying holdings in accordance with the fund's governing documents and in accordance with U.S. GAAP. If there is a reporting lag between the current period end and reporting date of the latest available fund valuation for any hedge fund, the Company estimates fair values by starting with the most recent fund valuation and adjusting for return estimates as well as any subscriptions, redemptions and distributions that took place during the current period. Return estimates are obtained from the relevant fund managers therefore the Company does not typically have a reporting lag in fair value measurements of these funds. Historically, the Company's valuation estimates incorporating these return estimates have not significantly diverged from the subsequently received NAVs. For direct lending funds, private equity funds, real estate funds and two of the Company's hedge funds, valuation statements are typically released on a reporting lag therefore, the Company estimates the fair value of these funds by starting with the most recent fund valuations and adjusting for capital calls, redemptions, drawdowns and distributions. Return estimates are not available from the relevant fund managers for these funds therefore the Company typically has a reporting lag in its fair value measurements of these funds. In 2019, funds reported on a lag represented 68% ( 2018 : 61% ) of the Company's total other investments balance. The Company often does not have access to financial information relating to the underlying securities held within the funds therefore management is unable to corroborate the fair values placed on the securities underlying the asset valuations provided by fund managers or fund administrators. In order to assess the reasonableness of the NAVs, the Company performs a number of monitoring procedures on a quarterly basis, to assess the quality of the information provided by fund managers and fund administrators. These procedures include, but are not limited to, regular review and discussion of each fund's performance with its manager, regular evaluation of fund performance against applicable benchmarks and the backtesting of the Company's fair value estimates against subsequently received NAVs. Backtesting involves comparing the Company's previously reported fair values for each fund against NAVs per audited financial statements (for year-end values) and final NAVs from fund managers and fund administrators (for interim values). The fair values of hedge funds, direct lending funds, private equity funds and real estate funds are measured using the NAV practical expedient, therefore the fair values of these funds have not been categorized within the fair value hierarchy. Financial Instruments Disclosed, But Not Carried, at Fair Value The fair value of financial instruments accounting guidance also applies to financial instruments disclosed, but not carried, at fair value, except for certain financial instruments, including insurance contracts. At December 31, 2019 , the carrying values of cash and cash equivalents including restricted amounts, accrued investment income, receivable for investments sold, certain other assets, payable for investments purchased and certain other liabilities approximated their fair values due to their short maturities. As these financial instruments are not actively traded, their fair values are classified as Level 2. At December 31, 2019 , the carrying value of mortgage loans held-for-investment approximated their fair value. The fair values of mortgage loans are primarily determined by estimating expected future cash flows and discounting them using current interest rates for similar mortgage loans with similar credit risk or are determined from pricing for similar loans. As mortgage loans are not actively traded, their fair values are classified as Level 3. At December 31, 2019 , the Company's debt was recorded at amortized cost with a carrying value of $1,808 million ( 2018 : $1,342 million ) and a fair value of $1,896 million ( 2018 : $1,334 million

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	12 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	The following table provides the balance sheet classifications of derivatives recorded at fair value: At December 31, 2019 At December 31, 2018 Derivative notional amount Asset derivative fair value (1) Liability derivative fair value (1) Derivative notional amount Asset derivative fair value (1) Liability derivative fair value (1) Relating to investment portfolio: Foreign exchange forward contracts $ 68,998 $ — $ 1,405 $ 79,336 $ 262 $ 531 Interest rate swaps — — — 150,000 — 1,116 Relating to underwriting portfolio: Foreign exchange forward contracts 1,038,630 3,174 2,560 737,419 7,975 2,576 Other underwriting-related contracts 85,000 — 9,672 85,000 — 10,299 Total derivatives $ 3,174 $ 13,637 $ 8,237 $ 14,522 (1) Asset and liability derivatives are classified within other assets and other liabilities in the consolidated balance sheets. The notional amounts of derivative contracts represent the basis on which amounts paid or received are calculated and are presented in the above table to quantify the volume of the Company's derivative activities. Notional amounts are not reflective of credit risk. None of the Company's derivative instruments are designated as hedges under current accounting guidance. Offsetting Assets and Liabilities The Company's derivative instruments are generally traded under International Swaps and Derivatives Association master netting agreements which establish terms that apply to all transactions. In the event of a bankruptcy or other stipulated event, master netting agreements provide that individual positions be replaced with a new amount, usually referred to as the termination amount, determined by taking into account market prices and converting into a single currency. Effectively, this contractual close-out netting reduces credit exposure from gross to net exposure. The following table provides a reconciliation of gross derivative assets and liabilities to the net amounts presented in the consolidated balance sheets, with the difference being attributable to the impact of master netting agreements: December 31, 2019 December 31, 2018 Gross amounts Gross amounts offset Net amounts (1) Gross amounts Gross amounts offset Net amounts (1) Derivative assets $ 7,673 $ (4,499 ) $ 3,174 $ 11,967 $ (3,730 ) $ 8,237 Derivative liabilities $ 18,136 $ (4,499 ) $ 13,637 $ 18,252 $ (3,730 ) $ 14,522 (1) Net asset and liability derivatives are classified within other assets and other liabilities in the consolidated balance sheets. Refer to Note 5 'Investments' for information on reverse repurchase agreements. a) Relating to Investment Portfolio Foreign Currency Risk The Company's investment portfolio is exposed to foreign currency risk therefore the fair values of its investments are partially influenced by changes in foreign exchange rates. The Company may enter into foreign exchange forward contracts to manage the effect of this foreign currency risk. These foreign currency hedging activities are not designated as specific hedges for financial reporting purposes. Interest Rate Risk The Company's investment portfolio includes a large percentage of fixed maturities which exposes it to significant interest rate risk. As part of overall management of this risk, the Company may use interest rate swaps. b) Relating to Underwriting Portfolio Foreign Currency Risk The Company's insurance and reinsurance subsidiaries and branches operate in various countries. Some of its business is written in currencies other than the U.S. dollar, therefore the underwriting portfolio is exposed to significant foreign currency risk. The Company manages foreign currency risk by seeking to match its foreign-denominated net liabilities under insurance and reinsurance contracts with cash and investments that are denominated in the same currencies. The Company uses derivative instruments, specifically, forward contracts to economically hedge foreign currency exposures. Weather Risk During 2013, the Company began to write derivative-based risk management products designed to address weather risks with the objective of generating profits on a portfolio basis. The majority of this business consisted of receiving a payment at contract inception in exchange for bearing the risk of variations in a quantifiable weather-related phenomenon, such as temperature. Where a client wished to minimize the upfront payment, these transactions were structured as swaps or collars. In general, the Company's portfolio of such derivative contracts was of short duration, with contracts being predominantly seasonal in nature. In order to economically hedge a portion of this portfolio, the Company also purchased weather derivatives. Effective July 1, 2017, the Company ceased writing derivative-based risk management products which address weather risks. Other Underwriting-related Risks The Company enters into insurance and reinsurance contracts that are accounted for as derivatives. These insurance or reinsurance contracts provide indemnification to an insured or cedant as a result of a change in a variable as opposed to an identifiable insurable event. The Company considers these contracts to be part of its underwriting operations. The following table provides the total unrealized and realized gains (losses) recognized in net income for derivatives not designated as hedges: Location of gain (loss) recognized in net income Amount of gain (loss) recognized in net income 2019 2018 2017 Relating to investment portfolio: Foreign exchange forward contracts Net investment gains (losses) $ 1,854 $ 3,446 $ (6,935 ) Interest rate swaps Net investment gains (losses) (3,677 ) 1,999 (1,334 ) Relating to underwriting portfolio: Foreign exchange forward contracts Foreign exchange gains (losses) (10,678 ) (3,509 ) 25,383 Weather-related contracts Other insurance related income (losses) — — (9,629 ) Other underwriting-related contracts Other insurance related income 1,789 2,384 1,476 Total $ (10,712 ) $ 4,320 $ 8,961

RESERVE FOR LOSSES AND LOSS EXP

RESERVE FOR LOSSES AND LOSS EXPENSES	12 Months Ended
	Dec. 31, 2019
Insurance Loss Reserves [Abstract]
RESERVE FOR LOSSES AND LOSS EXPENSES	Reserving Methodology Sources of Information The Company's loss reserving process begins with the collection and analysis of paid and incurred claim data for each of the Company's segments. The segmental data is disaggregated by reserve class and further disaggregated by underwriting year and accident year. Underwriting year or accident year information is used to analyze the Company's business and to estimate reserves for losses and loss expenses. Reserve classes are selected to ensure that the underlying contracts have homogeneous loss development characteristics, while remaining large enough to make the estimation of trends credible. The Company's reserve classes are reviewed on a regular basis and adjusted over time as the Company's business evolves. The paid and incurred claim data, in addition to industry benchmarks, serves as a key input to many of the methods employed by the Company's actuaries. The relative weights assigned to the Company's historical loss data versus industry data vary based on a number of factors including the Company's historical track record and the development profile for the reserve class being evaluated ( refer to 'Claim Tail Analysis' and 'Net Incurred and Paid Claims Development Tables By Accident Year' below for further details). The following tables map the Company's lines of business to reserve classes and the expected claim tails: Insurance segment Reserve class and tail Property and other Marine Aviation Credit and political risk Professional lines Liability Short Short Short/Medium Medium Medium Long Reported lines of business Property X Marine X Terrorism X Aviation X Credit and political risk X Professional lines X Liability X Accident and health X Discontinued lines - Novae X X X Reinsurance segment Reserve class and tail Property and other Credit and surety Professional lines Motor Liability Short Medium Medium Long Long Reported lines of business Catastrophe X Property X Credit and surety X Professional lines X Motor X Liability X Engineering X Agriculture X Marine and other X Accident and health X Discontinued lines - Novae X X X Actuarial Analysis Multiple actuarial methods are available to estimate ultimate losses. Each method has its own assumptions and its own advantages and disadvantages, with no single estimation method being better than the others in all situations and no one set of assumption variables being meaningful for all reserve classes. The relative strengths and weaknesses of the particular estimation methods when applied to a particular group of claims can also change over time. The following is a brief description of the reserve estimation methods commonly employed by the Company's actuaries including a discussion of their particular strengths and weaknesses: • Expected Loss Ratio Method ("ELR Method") : This method estimates ultimate losses for an accident year or underwriting year by applying an expected loss ratio to the earned or written premium for that year. Generally, expected loss ratios are based on one or more of (a) an analysis of historical loss experience to date, (b) pricing information and (c) industry data, adjusted as appropriate, to reflect changes in rates, loss and exposure trends, and terms and conditions. This method is insensitive to actual incurred losses for the accident year or underwriting year in question and is, therefore, often useful in the early stages of development when very few losses have been incurred. Conversely, the lack of sensitivity to incurred/paid losses for the accident year or underwriting year in question means that this method is usually inappropriate in later stages of an accident year or underwriting year’s development. • Loss Development Method (also referred to as the "Chain Ladder Method" or "Link Ratio Method") : This method assumes that the losses incurred/paid for each accident year or underwriting year at a particular development stage follow a relatively similar pattern. It assumes that on average, every accident year or underwriting year will display the same percentage of ultimate losses incurred/paid at the same point in time after the inception of that year. The percentages incurred/paid are established for each development stage (e.g. 12 months, 24 months, etc.) after examining averages from historical loss development data and/or external industry benchmark information. Ultimate losses are then estimated by multiplying the actual incurred/paid losses by the reciprocal of the established incurred/paid percentage. The strengths of this method are that it reacts to loss emergence/payments and that it makes full use of historical claim emergence/payment experience. However, this method has weaknesses when the underlying assumption of stable loss development/payment patterns is not valid. This could be the consequence of changes in business mix, claim inflation trends or claim reporting practices and/or the presence of large claims, among other things. Furthermore, this method tends to produce volatile estimates of ultimate losses where there is volatility in the underlying incurred/paid patterns. In particular, where the expected percentage of incurred/paid losses is low, small deviations between actual and expected claims can lead to very volatile estimates of ultimate losses. As a result, this method is often unsuitable at early development stages for an accident year or underwriting year. • Bornhuetter-Ferguson Method ("BF Method") : This method can be seen as a combination of the ELR and Loss Development Methods, under which the Loss Development Method is given progressively more weight as an accident year or underwriting year matures. The main advantage of the BF Method is that it provides a more stable estimate of ultimate losses than the Loss Development Method at earlier stages of development, while remaining more responsive to emerging loss development than the ELR Method. In addition, the BF Method allows for the incorporation of external market information through the use of expected loss ratios, whereas the Loss Development Method does not incorporate such information. As part of the loss reserving process, the Company's actuaries employ the estimation method(s) that they believe will produce the most reliable estimate of ultimate losses, at that particular evaluation date, for each reserve class and accident year or underwriting year combination. Often, this is a blend (i.e. weighted average) of the results of two or more appropriate actuarial methods. These ultimate loss estimates are generally utilized to evaluate the adequacy of ultimate loss estimates for previous accident or underwriting years, established in the prior reporting period. For the initial estimate of the current accident or underwriting year, the available claim data is typically insufficient to produce a reliable estimate of ultimate losses. As a result, initial estimates for an accident or underwriting year are generally based on the ELR Method for longer tailed lines and a BF Method for shorter tailed lines. The initial ELR for each reserve class is established collaboratively by the Company's actuaries, underwriters and management at the start of the year as part of the planning process, taking into consideration prior accident years’ or underwriting years' experience and industry benchmarks, adjusted after considering factors such as loss and exposure trends, rate differences, changes in contract terms and conditions, business mix changes and other known differences between the current year and prior accident or underwriting years. The initial expected loss ratios for a given accident or underwriting year may be modified over time if the underlying assumptions, such as loss development or premium rate changes, differ from the original assumptions. Key Actuarial Assumptions The use of the above actuarial methods requires the Company to make certain explicit assumptions, the most significant of which are: (1) expected loss ratios and (2) loss development patterns. In earlier years, significant reliance was placed on industry benchmarks in establishing expected loss ratios and selecting loss development patterns. Over time, more reliance has been placed on historical loss experience in establishing these ratios and selecting these patterns where the Company believes the weight of its experience has become sufficiently credible for consideration. The weight given to the Company's experience differs for each of the three claim tail classes (refer to 'Claim Tail Analysis' below for further details). In establishing expected loss ratios for the insurance segment, consideration is given to a number of other factors, including exposure trends, rate adequacy on new and renewal business, ceded reinsurance costs, changes in claims emergence and underwriters’ view of terms and conditions in the market environment. For the reinsurance segment, expected loss ratios are based on a contract-by-contract review, which considers information provided by clients together with estimates provided by underwriters and actuaries about the impact of changes in pricing, terms and conditions and coverage. Market experience of some classes of business as compiled and analyzed by an independent actuarial firm has also been considered, as appropriate. Claim Tail Analysis Short-tail Business Short-tail business generally includes exposures for which losses are usually known and paid within a relatively short period of time after the underlying loss event has occurred. The key actuarial assumptions for short-tail business in early accident years were primarily developed with reference to industry benchmarks for expected loss ratios and loss development patterns. As the Company's historical loss experience amassed, it gained credibility and became relevant for consideration in establishing these key actuarial assumptions. As a result, the Company gradually increased the weighting assigned to its historical loss experience in selecting the expected loss ratios and loss development patterns utilized to establish estimates of ultimate losses for an accident year. Due to the relatively short reporting and settlement patterns for short-tail business, more weight is generally placed on experience-based methods and other qualitative considerations in establishing reserves for recent and more mature accident years. The majority of development for an accident year or underwriting year is expected to be recognized in the subsequent one to three years . Medium-tail Business Medium-tail business generally has claim reporting and settlement periods that are longer than those of short-tail reserve classes. For the Company's earliest accident and underwriting years, initial key actuarial expected loss ratio and loss development assumptions were established utilizing industry benchmarks. Due to the longer claim tail, the length of time required to develop credible loss history for use in the reserve process is greater for medium-tail business than for short-tail business. Long-tail Business In contrast to short and medium-tail business, the claim tail for long-tail business is expected to be notably longer, as claims are often reported and ultimately paid or settled years, or even decades, after the related loss events occur. As a general rule, estimates of accident year or underwriting year ultimate losses for long-tail business are notably more uncertain than those for short and medium-tail business. To date, key actuarial assumptions for long-tail business have been derived from a combination of industry benchmarks supplemented with Company historical loss experience. While industry benchmarks that the Company believes reflect the nature and coverage of its business are considered, actual loss experience may differ from the benchmarks based on industry averages. Due to the length of the development tail for this business, reserve estimates for most accident years and underwriting years are predominantly based on the BF Method or ELR Method and the consideration of qualitative factors. Reserving for Significant Catastrophic Events The Company cannot estimate losses from widespread catastrophic events, such as hurricanes and earthquakes, using the traditional actuarial methods described above. Loss reserves for such events are estimated by management after a catastrophe occurs by completing an in-depth analysis of individual contracts which may potentially have been impacted by the catastrophic event. This in-depth analysis may rely on several sources of information including: • estimates of the size of insured industry losses from the catastrophic event and the Company's corresponding market share; • a review of the Company's portfolio of contracts performed to identify those contracts which may be exposed to the catastrophic event; • a review of modeled loss estimates based on information previously reported by customers and brokers, including exposure data obtained during the underwriting process; • discussions of the impact of the event with customers and brokers; and • catastrophe bulletins published by various independent statistical reporting agencies. A blend of these information sources is generally used to arrive at aggregate estimates of the ultimate losses arising from the catastrophic event. In subsequent reporting periods, changes in paid and incurred losses in relation to each significant catastrophe are reviewed and adjustments are made to estimates of ultimate losses for each event if there are developments that are different from previous expectations. Adjustments are recorded in the period in which they are identified. Selection of Reported Reserves – Management’s Best Estimate The Company's loss reserving process involves the collaboration of its underwriting, claims, actuarial, legal, ceded reinsurance and finance departments, includes various segmental committee meetings and culminates with the approval of a single point best estimate by the Company's Group Reserving Committee, which comprises senior management. In selecting this best estimate, management considers actuarial estimates and applies informed judgment regarding qualitative factors that may not be fully captured in these actuarial estimates. Such factors include, but are not limited to, the timing of the emergence of claims, volume and complexity of claims, social and judicial trends, potential severity of individual claims and the extent of Company historical loss data versus industry information. While these qualitative factors are considered in arriving at the point estimate, no specific provisions for qualitative factors are established. Reserve for Losses and Loss Expenses Reserve for losses and loss expenses comprise the following: At December 31, 2019 2018 Reserve for reported losses and loss expenses $ 4,860,916 $ 4,626,204 Reserve for losses incurred but not reported 7,891,165 7,654,565 Reserve for losses and loss expenses $ 12,752,081 $ 12,280,769 Reserve Roll-forward The following table presents a reconciliation of the Company's beginning and ending gross reserves for losses and loss expenses and net reserves for unpaid losses and loss expenses: Year ended December 31, 2019 2018 2017 Gross reserve for losses and loss expenses, beginning of year $ 12,280,769 $ 12,997,553 $ 9,697,827 Less reinsurance recoverable on unpaid losses, beginning of year (3,501,669 ) (3,159,514 ) (2,276,109 ) Net reserve for unpaid losses and loss expenses, beginning of year 8,779,100 9,838,039 7,421,718 Net incurred losses and loss expenses related to: Current year 3,123,698 3,389,949 3,487,826 Prior years (78,900 ) (199,662 ) (200,054 ) 3,044,798 3,190,287 3,287,772 Net paid losses and loss expenses related to: Current year (598,988 ) (724,199 ) (703,796 ) Prior years (2,371,637 ) (2,368,615 ) (1,880,882 ) (2,970,625 ) (3,092,814 ) (2,584,678 ) Foreign exchange and other 21,052 (1,156,412 ) 1,713,227 Net reserve for unpaid losses and loss expenses, end of year 8,874,325 8,779,100 9,838,039 Reinsurance recoverable on unpaid losses, end of year 3,877,756 3,501,669 3,159,514 Gross reserve for losses and loss expenses, end of year $ 12,752,081 $ 12,280,769 $ 12,997,553 The Company writes business with loss experience generally characterized as low frequency and high severity in nature, which can result in volatility in its financial results. During 2019 , 2018 and 2017 , the Company recognized net losses and loss expenses, net of reinstatement premiums, of $336 million , $430 million and $835 million , respectively, attributable to catastrophe and weather-related events. On December 15, 2019, the Company entered into a quota share retrocessional agreement with Harrington Re, a related party, which was deemed to have met the established criteria for retroactive reinsurance accounting. The Company recognized reinsurance recoverable on unpaid losses of $59 million related to this reinsurance agreement. This transaction was conducted at market rates consistent with negotiated arms-length contracts. On April 16, 2018, the Company entered into a quota share retrocessional agreement with Harrington Re, a related party, which was deemed to have met the established criteria for retroactive reinsurance accounting. The Company recognized reinsurance recoverable on unpaid losses of $108 million related to this reinsurance agreement. This transaction was conducted at market rates consistent with negotiated arms-length contracts. AXIS Managing Agency Ltd., the managing agent of Syndicate 2007 entered into an agreement for the Reinsurance to Close ("RITC") of the 2015 and prior years of account of Syndicate 2007, with an effective date of January 1, 2018. This agreement was accounted for as a novation reinsurance contract. At December 31, 2018, foreign exchange and other included a reduction in reserves for losses and loss expenses of $819 million related to this transaction. On October 2, 2017, the Company acquired 100% ownership interest in Novae. At December 31, 2017, foreign exchange and other included reserves for losses and loss expenses of $2,126 million and reinsurance recoverable on unpaid and paid losses of $788 million related to this acquisition. On April 1, 2017, the Company acquired 100% ownership interest in Aviabel. At December 31, 2017, foreign exchange and other included reserves for losses and loss expenses of $79 million and reinsurance recoverable on unpaid and paid losses of $5 million related to this acquisition. The transfer of the insurance business of AXIS Specialty Australia to a reinsurer was approved by the Irish High Court on February 1, 2017 and the Federal Court of Australia of February 10, 2017. Consequently, the insurance policies, assets and liabilities of AXIS Specialty Australia were transferred to the reinsurer with effect from February 13, 2017. This resulted in the reduction of reserves for losses and loss expenses by $223 million and a reduction in reinsurance recoverable on unpaid and paid losses by $223 million . Estimates for Significant Catastrophe Events At December 31, 2019 , net reserve for losses and loss expenses included estimated amounts for numerous catastrophe events. The magnitude and/or complexity of losses arising from these events, in particular Japanese Typhoons Hagibis, Faxai and Tapah, Hurricane Dorian and the Australia Wildfires which occurred in 2019 together with Hurricanes Michael and Florence, California Wildfires and Typhoon Jebi which occurred in 2018 as well as Hurricanes Harvey, Irma and Maria, and the California Wildfires which occurred in 2017 inherently increase the level of uncertainty and, therefore, the level of management judgment involved in arriving at estimated net reserves for losses and loss expenses. As a result, actual losses for these events may ultimately differ materially from current estimates. Prior Year Reserve Development Net favorable prior year reserve development arises from changes to estimates for losses and loss expenses related to loss events that occurred in previous calendar years. The following table presents net prior year reserve development by segment: Insurance Reinsurance Total Year ended December 31, 2019 $ 53,302 $ 25,598 $ 78,900 Year ended December 31, 2018 92,806 106,856 199,662 Year ended December 31, 2017 60,459 139,595 200,054 Short-tail business Short-tail business includes the underlying exposures in the property and other, marine, and aviation reserve classes in the insurance segment, and the underlying exposures in the property and other reserve class in the reinsurance segment. These reserve classes recognized net adverse prior year reserve development of $85 million in 2019 including net adverse prior year reserve development of $133 million recognized by the reinsurance property and other reserve class, partially offset by net favorable prior year reserve development of $33 million contributed by the insurance marine reserve class and net favorable prior year reserve development of $11 million contributed by the insurance property and other reserve class. The net adverse prior year reserve development of $133 million recognized by the reinsurance property and other reserve class was due to an increase in loss estimates attributable to Hurricanes Irma and Michael consistent with industry trends, an increase in loss estimates attributable Typhoon Jebi consistent with updated industry insured loss estimates, and reserve strengthening within the U.S. regional and commercial proportional property books of business and the European proportional property book of business. These reserve classes contributed net favorable prior year reserve development of $86 million in 2018 reflecting overall better than expected loss emergence related to the 2017 catastrophe events. These reserve classes contributed $60 million of net favorable prior year reserve development in 2017 reflecting overall better than expected loss emergence. Medium-tail business Medium-tail business consists primarily of insurance and reinsurance professional lines reserve classes, insurance credit and political risk reserve class and reinsurance credit and surety reserve class. For the year ended December 31, 2019 , the insurance professional lines reserve class recorded net favorable prior year reserve development of $12 million ( 2018 : $32 million , 2017 : $26 million ), reflecting generally favorable experience on older accident years as the Company continued to transition to more experience based actuarial methods. For the year ended December 31, 2018 , the reinsurance professional lines reserve class recorded net favorable prior year reserve development of $21 million ( 2017 : $44 million ), reflecting generally favorable experience on older accident years as the Company continued to transition to more experienced based actuarial methods. For the year ended December 31, 2019 , the insurance credit and political risk reserve class recorded net favorable prior year reserve development of $19 million reflecting generally better than expected loss emergence. For the year ended December 31, 2019 , the reinsurance credit and surety reserve class recorded net favorable prior year reserve development of $53 million ( 2018 : $33 million , 2017 : $33 million ), reflecting generally better than expected loss emergence. Long-tail business Long-tail business consists primarily of insurance and reinsurance liability reserve classes and reinsurance motor reserve class. For the year ended December 31, 2019 , the insurance liability reserve class recognized net adverse prior year reserve development of $25 million ( 2018 : $22 million , 2017 : $8 million ). The net adverse prior year reserve development in 2019 was primarily related to reserve strengthening within the Company's U.S. excess casualty and U.S. primary casualty books of business. The net adverse prior year reserve development in 2018 was primarily related to reserve strengthening within the Company's U.S. excess casualty book of business. The net adverse prior year reserve development in 2017 was primarily attributable to reserve strengthening within the Company's run-off Bermuda excess casualty book of business. For the year ended December 31, 2019 , the reinsurance liability reserve classes recognized net favorable prior year reserve development of $31 million ( 2018 : $23 million , 2017 : $43 million ). The net favorable prior year reserve development in 2019 , 2018 and 2017 was due to progressively increased weight given by management to experience based indications on older accident years. For the year ended December 31, 2019 , the reinsurance motor reserve class recognized net favorable prior year reserve development of $71 million ( 2018 : $23 million 2017 : $1 million ). The net favorable prior year reserve development in 2019 was impacted by the increase in the Ogden discount rate and changes in related actuarial assumptions. The Ogden Rate which is used to calculate lump sum awards in U.K. bodily injury cases, changed from minus 0.75% to minus 0.25% , effective August 5, 2019. The net favorable prior year reserve development in 2018 was primarily attributable to non proportional treaty business on older accident years. The net favorable prior year development in 2017 was impacted by the decrease in the Ogden Rate, which changed from plus 2.5% to minus 0.75% , effective March 20, 2017. Net Incurred and Paid Claims Development Tables by Accident Year The following tables present net incurred and paid claims development by accident year, total incurred-but-not-reported liabilities plus expected development on reported claims, cumulative reported claims frequency and claims duration for each reserve class. The loss development tables are presented on an accident year basis for the insurance and reinsurance segments. The Company does not discount reserves for losses and loss expenses. Non-U.S. dollar denominated loss data is converted to U.S. dollar at the rates of exchange in effect at the balance sheet date for material underlying currencies. Fluctuations in foreign currency exchange rates may cause material shifts in loss development. Reserves for losses and loss expenses disclosed in the consolidated balance sheets are also remeasured using the rates of exchange in effect at the balance sheet date. There are many considerations in establishing loss reserves and an attempt to evaluate loss reserves using solely the data presented in these tables could be misleading. The Company cautions against mechanical application of standard actuarial methodologies to project ultimate losses using data presented in this disclosure. Insurance Segment The reporting of cumulative claims frequency for the reserve classes within the insurance segment has been measured by counting the number of unique claim references including claim references assigned to nil and nominal case reserves. Claim references are grouped by claimant by loss event for each reserve class. For certain insurance facilities and business produced by managing general agents where underlying data is reported to the Company in an aggregated format, the information necessary to provide cumulative claims frequency is not available therefore reporting of claims frequency is deemed to be impracticable. Insurance Property and Other This reserve class includes property, terrorism, accident and health, and discontinued lines - Novae. The property line of business provides physical loss or damage, business interruption and machinery breakdown cover for virtually all types of property, including commercial buildings, residential premises, construction projects and onshore energy installations. This line of business includes primary and excess risks, some of which are catastrophe-exposed. The terrorism line of business provides cover for physical damage and business interruption of an insured following an act of terrorism and includes kidnap and ransom, and crisis management insurance. The accident and health line of business includes accidental death, travel insurance and specialty health products for employer and affinity groups. The accident and health line of business contributed net premiums earned of $144 million to this reserve class for the year ended December 31, 2019. A large increase in reported claims related to this line of business was observed from 2012. In particular, an increase in limited benefits medical business written in 2017 resulted in a significant increase in reported claims observed in that year. The discontinued lines - Novae includes the international direct and facultative property line of business that Novae exited or placed into run-off in the fourth quarter of 2016. In general, reporting and payment patterns are relatively short-tailed although they can be volatile due to the incidence of catastrophe events. Insurance property and other Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2019 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Cumulative number of reported claims Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 173,118 $ 155,512 $ 148,126 $ 122,897 $ 117,406 $ 116,477 $ 116,172 $ 115,712 $ 114,614 $ 114,355 $ 684 4,423 2011 348,001 327,787 307,305 286,896 283,852 282,663 283,096 281,389 280,491 (18 ) 6,350 2012 391,031 400,995 383,228 363,171 358,598 352,879 352,048 342,017 497 29,931 2013 309,937 299,498 272,642 268,704 268,350 278,790 275,074 1,505 53,191 2014 360,874 355,495 344,878 329,251 328,252 326,638 3,990 62,356 2015 278,554 270,793 259,725 255,392 252,560 4,077 48,424 2016 351,075 377,820 369,508 356,353 6,011 93,717 2017 885,486 829,016 808,602 2,992 697,983 2018 721,266 759,300 41,900 705,592 2019 429,987 113,754 445,460 Total $ 3,945,377 Insurance property and other Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 48,995 $ 87,604 $ 95,726 $ 106,531 $ 110,745 $ 110,819 $ 110,612 $ 110,656 $ 110,990 $ 110,970 2011 85,346 193,949 250,251 272,530 271,483 271,287 271,960 272,402 272,372 2012 77,461 213,961 277,909 300,845 308,368 313,529 313,602 315,703 2013 75,831 198,955 237,714 248,746 259,787 262,819 264,607 2014 132,872 259,679 306,221 313,360 317,697 318,866 2015 99,120 202,649 227,237 241,586 242,270 2016 123,640 289,711 329,709 338,243 2017 253,400 628,364 744,285 2018 284,651 577,243 2019 187,430 Total 3,371,989 All outstanding liabilities before 2010, net of reinsurance 6,225 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 579,613 Insurance property and other Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 35.0% 40.9% 13.7% 5.5% 1.9% 0.6% 0.2% 0.3% 0.2% —% Insurance Marine This reserve class includes the marine line of business which provides cover for traditional marine classes, including offshore energy, cargo, liability, recreational marine, fine art, specie, and hull and war. Offshore energy coverage includes physical damage, business interruption, operators extra expense and liability coverage for all aspects of offshore upstream energy, from exploration and construction through the operation and distribution phases. The complex nature of claims arising under marine policies tends to result in reporting and payment patterns that are longer than those of the property and other reserve class. Exposure to natural perils such as windstorm and earthquake can result in volatility. Insurance marine Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2019 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Cumulative number of reported claims Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 68,519 $ 70,314 $ 66,359 $ 53,458 $ 51,482 $ 48,618 $ 47,226 $ 45,482 $ 45,064 $ 44,696 $ 262 3,197 2011 90,776 78,807 72,875 65,973 65,921 66,156 68,318 69,011 68,330 976 3,830 2012 89,712 83,138 69,075 71,211 72,238 74,797 73,002 62,447 2,718 4,134 2013 79,578 100,757 96,164 97,250 82,487 82,073 81,070 1,174 2,353 2014 59,686 44,576 48,586 44,420 46,030 47,574 4,249 2,163 2015 160,063 141

REINSURANCE

REINSURANCE	12 Months Ended
	Dec. 31, 2019
Reinsurance Disclosures [Abstract]
REINSURANCE	In the normal course of business, the Company purchases treaty and facultative reinsurance protection to limit ultimate losses from catastrophic events and reduce loss aggregation risk. Facultative reinsurance provides cover for all or a portion of the losses incurred for a single policy and the Company separately negotiates each facultative contract. Treaty reinsurance provides cover for a specified type or category of risks. The Company's treaty reinsurance agreements provide this cover on either an excess of loss or a proportional basis. Excess of loss covers provide a contractually set amount of coverage after a specified loss amount has been reached. These treaties can provide cover for a number of lines of business within one contract. Under proportional reinsurance, the Company cedes an agreed proportion of the premiums and the losses and loss expenses on the policies it underwrites. These treaties provide the Company with a specified percentage of coverage from the first dollar of loss. All of these reinsurance contracts provide the Company with the right to recover a specified amount of losses and loss expenses from reinsurers. To the extent that reinsurers do not meet their obligations under these agreements due to solvency issues, contractual disputes over contract language or coverage and/or other reasons, the Company remains liable. The Company predominantly cedes its business to reinsurers rated A- or better by A.M. Best. The following table presents gross and net premiums written and earned: Year ended December 31, 2019 2018 2017 Premiums written Premiums earned Premiums written Premiums earned Premiums written Premiums earned Gross $ 6,898,858 $ 6,910,677 $ 6,910,065 $ 6,882,217 $ 5,556,273 $ 5,616,234 Ceded (2,409,243 ) (2,323,499 ) (2,251,103 ) (2,090,722 ) (1,529,130 ) (1,467,474 ) Net $ 4,489,615 $ 4,587,178 $ 4,658,962 $ 4,791,495 $ 4,027,143 $ 4,148,760 For the year ended December 31, 2019 , the Company recognized ceded losses and loss expenses of $1,602 million ( 2018 : $1,565 million ; 2017 : $1,010 million ). At December 31, 2019 , the Company's provision for uncollectible amounts was $18 million ( 2018 : $21 million ; 2017 : $17 million

DEBT AND FINANCING ARRANGEMENTS

DEBT AND FINANCING ARRANGEMENTS	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
DEBT AND FINANCING ARRANGEMENTS	a) Debt The following table summarizes the Company's debt: Year ended December 31, 2019 2018 5.875% Senior Notes $ 499,687 $ 498,967 2.650% Senior Notes (1) — 249,885 5.150% Senior Notes 246,491 246,425 4.000% Senior Notes 346,997 346,684 3.900% Senior Notes 295,339 — Junior Subordinated Notes 419,643 — Total Debt $ 1,808,157 $ 1,341,961 (1) On April 1, 2019, AXIS Specialty Finance PLC, a 100% owned finance subsidiary, repaid $250 million aggregate principal amount of 2.650% Senior Notes at their stated maturity. The tables below provide the key terms of the Company's debt: Description Issuance Date Aggregate Principal Issue Price Net Proceeds Maturity Date 5.875% Senior Notes March 23, 2010 500,000 99.624 % 495,000 June 1, 2020 5.150% Senior Notes March 13, 2014 250,000 99.474 % 246,000 April 1, 2045 4.000% Senior Notes December 6, 2017 350,000 99.780 % 347,000 December 6, 2027 3.900% Senior Notes June 19, 2019 300,000 99.360 % 296,000 July 15, 2029 Junior Subordinated Notes December 10, 2019 425,000 99.000 % 420,750 January 15, 2040 Description Interest Rate Interest Payments Due 5.875% Senior Notes 5.875 % Semi-annually in arrears on June 1 and December 1 of each year 5.150% Senior Notes 5.150 % Semi-annually in arrears on April 1 and October 1 of each year 4.000% Senior Notes 4.000 % Semi-annually in arrears on June 6 and December 6 of each year 3.900% Senior Notes 3.900 % Semi-annually in arrears on January 15 and July 15 of each year Junior Subordinated Notes (2) 4.900 % Semi-annually on January 15 and July 15 of each year (2) The Junior Notes accrue interest from the date of issuance to, but excluding, January 15, 2030 (the "Par Call Date") at the fixed rate of 4.900% and from, and including, the Par Call Date, at a rate equal to the Five-Year Treasury Rate as of the Reset Interest Determination Date, plus 3.186% . Interest of the Junior Notes is payable semi-annually on January 15 and July 15 of each year, beginning on July 15, 2020. 5.875% Senior Notes The 5.875% Senior Notes are ranked as unsecured senior obligations of AXIS Specialty Finance LLC, a 100% owned finance subsidiary. AXIS Capital has fully and unconditionally guaranteed all obligations of AXIS Specialty Finance LLC under the 5.875% Senior Notes. AXIS Capital’s obligations under this guarantee are unsecured senior obligations and rank equally with all other senior obligations of AXIS Capital. 5.150% Senior Notes The 5.150% Senior Notes are ranked as unsecured senior obligations of AXIS Specialty Finance PLC, a 100% owned finance subsidiary. AXIS Capital has fully and unconditionally guaranteed all obligations of AXIS Specialty Finance PLC under the 5.150% Senior Notes. AXIS Capital's obligations under this guarantee are unsecured senior obligations and rank equally with all other senior obligations of AXIS Capital. On April 3, 2019, AXIS Capital and AXIS Specialty Finance PLC entered into a first supplemental indenture (the "First Supplemental Indenture") among AXIS Specialty Finance PLC, as issuer, AXIS Capital, as guarantor, and The Bank of New York Mellon Trust Company, N.A., as trustee (the "Trustee"), to the senior indenture (the "Indenture") relating to the 5.150% Senior Notes. The changes were made to permit the 5.150% Senior Notes to qualify as Tier 3 ancillary capital under eligible capital requirements of the Bermuda Monetary Authority. Because this amendment does not materially adversely affect the interests of the holders of the 5.150% Senior Notes, the First Supplemental Indenture was entered into without consent of any holders of the 5.150% Senior Notes. The First Supplemental Indenture relates to the 5.150% Senior Notes only and does not affect any other series of securities issued under the Indenture. 4.000% Senior Notes The 4.000% Senior Notes are ranked as unsecured senior obligations of AXIS Specialty Finance PLC, a 100% owned finance subsidiary. AXIS Capital has fully and unconditionally guaranteed all obligations of AXIS Specialty Finance PLC under the 4.000% Senior Notes. AXIS Capital's obligations under this guarantee are unsecured senior obligations and rank equally with all other senior obligations of AXIS Capital. 3.900% Senior Notes The 3.900% Senior Notes are ranked as unsecured senior obligations of AXIS Specialty Finance LLC, a 100% owned finance subsidiary. AXIS Capital has fully and unconditionally guaranteed all obligations of AXIS Specialty Finance LLC under the 3.900% Senior Notes. AXIS Capital's obligations under this guarantee are unsecured senior obligations and rank equally with all other senior obligations of AXIS Capital. The Company has the option to redeem the Senior Notes at any time and from time to time, in whole or in part, at a ''make-whole'' redemption price, which is equal to the greater of the aggregate principal amount or the sum of the present values of the remaining scheduled payments of principal and interest. The related indentures contain various covenants, including limitations on liens on the stock of restricted subsidiaries, restrictions as to the disposition of the stock of restricted subsidiaries and limitations on mergers and consolidations. The Company was in compliance with all the covenants contained in the indentures at December 31, 2019 . Interest expense recognized in relation to the Senior Notes includes interest payable, amortization of the offering discounts and amortization of debt offering expenses. The offering discounts and debt offering expenses are amortized over the period of time during which the Senior Notes are outstanding. For the year ended December 31, 2019 , the Company incurred interest expense of $67 million ( 2018 : $64 million , 2017 : $51 million ). Junior Subordinated Notes The 4.900% Fixed-Rate Reset Junior Notes are ranked as unsecured junior subordinated obligations of AXIS Specialty Finance LLC, a 100% owned finance subsidiary. AXIS Capital has fully and unconditionally guaranteed all obligations of AXIS Specialty Finance LLC under the Junior Notes. AXIS Capital's obligation under this guarantee is an unsecured junior subordinated obligation and ranks equally with all future unsecured and junior subordinated obligations of AXIS Capital, and junior in right of payment to all outstanding and future senior obligations of AXIS Capital. Interest expense recognized in relation to the Junior Notes includes interest payable and amortization of debt offering expenses. The debt offering expenses are amortized over the period of time during which the Junior Notes are outstanding. For the year ended December 31, 2019 , the Company incurred interest expense of $1 million . Dekania Notes On June 30, 2004, Novae issued $15 million aggregate principal amount of LIBOR plus 3.50% subordinated unsecured notes (the " $15 million Dekania Notes") and $11 million aggregate principal amount of LIBOR plus 4.05% subordinated unsecured notes (the " $11 million Dekania Notes"). On September 29, 2004, Novae issued $10 million aggregate principal amount of LIBOR + 3.50% subordinated notes (the " $10 million Dekania Notes" and together with the " $15 million Dekania Notes" and the " $11 million Dekania Notes" the "Dekania Notes"). The net proceeds of the issuance, after consideration of the offering discount and underwriting expenses and commissions, totaled approximately $35 million . Interest on the Dekania Notes was payable quarterly in arrears on February 15, May 15, August 15 and November 15 of each year. On November 15, 2018, the Company fully redeemed the Dekania Notes at par. Interest expense recognized in relation to the Dekania Notes included interest payable, amortization of the offering discounts and amortization of debt offering expenses. The offering discounts and debt offering expenses were amortized over the period of time during which the Dekania Notes were outstanding. For the year ended December 31, 2018 , the Company incurred interest expense of $2 million (2017: $2 million ). Scheduled Debt Maturity The following table provides the scheduled maturity of the Company's debt obligations at December 31, 2019 : Year ended December 31, 2020 $ 500,000 2021 — 2022 — 2023 — 2024 — After 2024 1,325,000 Unamortized discount and debt issuance expenses (16,843 ) Total senior notes and notes payable $ 1,808,157 b) Letter of Credit Facility On November 20, 2013, certain of AXIS Capital’s operating subsidiaries (the "Participating Subsidiaries") entered into an amendment to extend the term of the Company's secured $750 million letter of credit facility (the " $750 million Facility") with Citibank Europe plc ("Citibank") pursuant to a Master Reimbursement Agreement and other ancillary documents (together, the "LOC Facility Documents"). Under the terms of the $750 million Facility, letters of credit to a maximum aggregate amount of $750 million are available for issuance on behalf of the Participating Subsidiaries. These letters of credit are principally used to support the reinsurance obligations of the Participating Subsidiaries. The $750 million Facility is subject to certain covenants, including the requirement to maintain sufficient collateral, as defined in the LOC Facility Documents to cover all of the obligations under the $750 million Facility. Such obligations include contingent reimbursement obligations for outstanding letters of credit and fees payable to Citibank. In the event of default, Citibank may exercise certain remedies, including the exercise of control over pledged collateral and the termination of the availability of the $750 million Facility to any or all of the Participating Subsidiaries. On March 31, 2015, the Participating Subsidiaries entered into an amendment to reduce the maximum aggregate utilization capacity of the $750 million Facility to $500 million (the " $500 million Facility"). All other material terms and conditions remained unchanged. On March 27, 2017, the Participating Subsidiaries amended their existing $500 million Facility to include an additional $250 million of secured letter of credit capacity (the " $250 million Facility") pursuant to a Committed Facility Letter and an amendment to the Master Reimbursement Agreement. Under the terms of the $250 million Facility, letters of credit to a maximum aggregate amount of $250 million are available for issuance on behalf of the Participating Subsidiaries once the $500 million Facility has been fully utilized. On March 28, 2019, the expiration date of the $250 million Facility was extended to March 31, 2020. On December 24, 2019, the expiration date of the $500 million Facility was extended to December 31, 2023. At December 31, 2019 , letters of credit outstanding under the LOC Facility were $357 million (2018: $395 million ). At December 31, 2019 , the Participating Subsidiaries were in compliance with all LOC Facility covenants.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	a) Concentrations of Credit Risk Credit Risk Aggregation The Company monitors and manages the aggregation of credit risk on a group-wide basis allowing it to consider exposure management strategies for individual companies, countries, regions, sectors and any other relevant inter-dependencies. The Company's credit exposures are aggregated based on the origin of risk. As part of its credit aggregation framework, the Company also assigns aggregate credit limits by single counterparty (a group of companies or country). These limits are based on and adjusted for a variety of factors including the prevailing economic environment and the nature of the underlying credit exposures. The Company's credit aggregation measurement and reporting process is facilitated by its credit risk exposure database, which contains relevant information on counterparty details and credit risk exposures. The Company also licenses third-party tools to provide credit risk assessments. Credit risk aggregation is also managed through minimizing overlaps in underwriting, financing and investing activities. The assets that potentially subject the Company to concentrations of credit risk consist principally of cash and investments, reinsurance recoverable on unpaid and paid claims and insurance and reinsurance premiums balances receivable, as described below: (i) Cash and Investments In order to mitigate concentration and operational risks related to cash and cash equivalents, the Company limits the maximum amount of cash that can be deposited with a single counterparty and limits acceptable counterparties based on current rating, outlook and other relevant factors. The Company's investment portfolio is managed by external investment managers in accordance with its investment guidelines. The Company limits credit risk through diversification, issuer exposure limits graded by ratings and, with respect to custodians, through contractual and other legal remedies. Excluding U.S. government and agency securities, the Company limits its concentration of credit risk to any single corporate issuer to 2% or less of its investment grade fixed maturities portfolio for securities rated A- or above and 1% or less of its investment grade fixed maturities portfolio for securities rated below A-. At December 31, 2019 , the Company was in compliance with these limits. (ii) Reinsurance Recoverable on Unpaid and Paid Losses and Loss Expenses The Company is exposed to the credit risk associated with reinsurance recoverable on unpaid and paid losses and loss expenses to the extent that any of its reinsurers fail to meet their obligations under reinsurance contracts. To help mitigate this risk, the Company's purchase of reinsurance is subject to financial security requirements specified by its Reinsurance Security Committee. This Committee maintains a list of approved reinsurers, performs credit risk assessments for potential new reinsurers, regularly monitors approved reinsurers with consideration for events which may have a material impact on their creditworthiness, recommends counterparty tolerance levels for different types of ceded business and monitors concentrations of credit risk. This assessment considers a wide range of individual attributes, including a review of the counterparty’s financial strength, industry position and other qualitative factors. Generally, the Committee requires that reinsurers who do not meet specified requirements provide collateral. At December 31, 2019 , the three largest balances by reinsurer accounted for 12% , 10% and 9% ( 2018 : 13% , 10% and 10% ) of reinsurance recoverable on unpaid and paid losses and loss expenses. At December 31, 2019 , 89.1% (December 31, 2018 : 89.5% ) of the Company's reinsurance recoverable on unpaid and paid losses and loss expenses, net of collateral were collectible from reinsurers rated the equivalent of A- or better by A.M. Best. (iii) Insurance and Reinsurance Premium Balances Receivable The diversity of the Company's client base limits the credit risk associated with its insurance and reinsurance premium balances receivable. In addition, for insurance contracts the Company has contractual rights to cancel cover for non-payment of premiums and for reinsurance contracts the Company has contractual rights to offset premium balances receivable against corresponding payments for losses and loss expenses. Brokers and other intermediaries collect premiums from customers on behalf of the Company. The Company has procedures in place to manage and monitor credit risk from intermediaries with a focus on day-to-day monitoring of the largest positions. These contractual rights contribute to the mitigation of credit risk, together with the monitoring of aged premium balances receivable. In light of these mitigating factors and considering that a significant portion of premium balances receivable are not currently due based on the terms of the underlying contracts, the Company does not utilize specific credit quality indicators to monitor its premium balances receivable. At December 31, 2019 , the Company recorded an allowance for estimated uncollectible premium balances receivable of $7 million ( 2018 : $4 million ). For the year ended December 31, 2019 , bad debt expense was $ nil ( 2018 : $ nil ; 2017 : $ nil ). b) Brokers The Company produces its business through brokers and direct relationships with insurance companies. For the year ended December 31, 2019 , three brokers accounted for 47% ( 2018 : 43% ; 2017 : 49% ) of gross premiums written. Marsh & McLennan Companies Inc. accounted for 18% ( 2018 : 17% ; 2017 : 20% ), Aon plc accounted for 19% ( 2018 : 17% ; 2017 : 17% ), and Willis Tower Watson PLC accounted for 10% ( 2018 : 9% ; 2017 : 12% ). No other broker and no single insured or reinsured accounted for more than 10% of gross premiums written in any of the last three years. c) Reinsurance Purchase Commitment In the normal course of business, the Company purchases reinsurance and retrocessional (collectively referred to as "reinsurance") protection for its insurance and reinsurance business. Minimum reinsurance premiums are contractually due in advance on a quarterly basis. At December 31, 2019 , the Company had outstanding reinsurance purchase commitments of $57 million (2018: $39 million ), all of which is due before June 30, 2023. Actual payments under the reinsurance contracts will depend on the underlying subject premium and may exceed the minimum reinsurance premiums. d) Legal Proceedings From time to time, the Company is subject to routine legal proceedings, including arbitrations, arising in the ordinary course of business. These legal proceedings generally relate to claims asserted by or against the Company in the ordinary course of its insurance or reinsurance operations. Estimated amounts payable related to these proceedings are included in reserve for losses and loss expenses in the Company's consolidated balance sheets. The Company is not party to any material legal proceedings arising outside the ordinary course of business. e) Investments At December 31, 2019 the Company has $ 588 million ( 2018 : $507 million ) of unfunded investment commitments related to its other investment portfolio, which are callable by investment managers (refer to Note 5(c) ' Investments '). At December 31, 2019 the Company has $32 million ( 2018 : $4 million ) of unfunded investment commitments to purchase commercial mortgage loans. f) Funds at Lloyd's The Company operates in the Lloyd’s market through its corporate members, AXIS Corporate Capital UK Limited and AXIS Corporate Capital UK II Limited, which provide 70% and 30% , respectively of Syndicate 1686's capital support. AXIS Corporate Capital UK II Limited is the sole corporate member of Syndicate 2007. Lloyd’s sets capital requirements for corporate members annually through the application of a capital model that is based on regulatory rules pursuant to Solvency II. The capital provided to support underwriting or FAL may be satisfied by cash, certain investments and letters of credit provided by approved banks. At December 31, 2019 , investments and cash of $1.3 billion ( 2018 : $1.3 billion ) were restricted to satisfy the Company's FAL requirements (refer to Note 5 'Investments' and Note 21 ' Statutory Financial Information' ).

LEASES

LEASES	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
LEASES	In the ordinary course of business, the Company renews and enters into new leases for office property and equipment, which expire at various dates. At the lease inception date, the Company assesses whether a contract is or contains a lease. At the commencement date, the Company determines the classification of each separate lease component as either a finance lease or an operating lease. The Company's leases are all currently classified as operating leases. For operating leases that have a lease term of more than 12 months, the Company recognizes a lease liability and a right-of-use asset in the Company's consolidated balance sheets at the present value of the lease payments at the lease commencement date. At the commencement date, the Company determines lease terms by assuming the exercise of those renewal options that are deemed to be reasonably certain. The exercise of lease renewal options is at the sole discretion of the Company. As the lease contracts generally do not provide an implicit discount rate, the Company uses its incremental borrowing rate based on the information available at commencement date to determine the present value of lease payments. The incremental borrowing rate is based on a borrowing with a term that is similar to the term of the associated lease. The Company has made an accounting policy election not to include renewal, termination, or purchase options that are not reasonably certain of exercise when determining the term of the borrowing. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. Operating lease rentals are expensed on a straight-line basis over the life of the lease beginning on the commencement date. For the year ended December 31, 2019 , the total lease expense was $28 million . The following table presents the Company’s total lease expense and the cash flows arising from lease transactions: Year ended December 31, 2019 Lease cost: Operating lease expense $ 27,549 Short-term lease expense (1) 1,132 Sublease income (2) (1,144 ) Total lease expense $ 27,537 Other information: Operating cash outflows from operating leases $ 25,004 Right-of-use assets obtained in exchange for new operating lease liabilities $ — Weighted-average remaining lease term - operating leases (3) 9.0 years Weighted-average discount rate - operating lease (4) 4.7 % (1) Short-term lease expense is recognized on a straight-line basis over the lease term. (2) Sublease income largely relates to office property in London, England. (3) Weighted-average remaining lease term was calculated on the basis of the remaining lease term and the lease liability balance for each lease at the reporting date. (4) Weighted-average discount was calculated on the basis of the discount rate for the lease that was used to calculate the lease liability balance for each lease at the reporting date and the remaining balance of the lease payments for each lease at the reporting date. The following table presents the scheduled maturity of the Company's operating lease liabilities at December 31, 2019 : Expected Year ended December 31, Cash Flows 2020 $ 19,225 2021 19,129 2022 20,049 2023 16,641 2024 11,006 Later years 58,562 Discount (29,028 ) Total discounted operating lease liabilities $ 115,584 The Company's lease for its office property in Alpharetta, Georgia, which expired on December 31, 2019 was extended to January 31, 2020. The Company executed a 15 year lease for a new office property in Alpharetta, Georgia. The Company was not involved in the construction or design of this office property and the commencement date of the lease is February 1, 2020. Given that the commencement date is after the balance sheet date, the Company has not reflected this lease in the maturity table above or in the Company's consolidated balance sheets at December 31, 2019 . The total contractual lease costs over the 15 year lease is $40 million . The following table presents the Company's future minimum lease payments at December 31, 2018 : Year ended December 31, 2019 $ 28,240 2020 25,331 2021 27,025 2022 28,012 2023 23,801 Later years 118,497 Total future minimum lease payments $ 250,906 For the year ended December 31, 2018 , the total lease expense was $33 million (2017: $29 million ).

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	The following table presents a comparison of earnings (loss) per common share and earnings (loss) per diluted common share: At and year ended December 31, 2019 2018 2017 Earnings (loss) per common share Net income (loss) $ 323,473 $ 43,021 $ (368,969 ) Less: Preferred share dividends 41,112 42,625 46,810 Net income (loss) available (attributable) to common shareholders $ 282,361 $ 396 $ (415,779 ) Weighted average common shares outstanding 83,894 83,501 84,108 Earnings (loss) per common share $ 3.37 $ — $ (4.94 ) Earnings (loss) per diluted common share Net income (loss) available (attributable) to common shareholders $ 282,361 $ 396 $ (415,779 ) Weighted average common shares outstanding 83,894 83,501 84,108 Share-based compensation plans (1) 579 506 — Weighted average diluted common shares outstanding (1) 84,473 84,007 84,108 Earnings (loss) per diluted common share $ 3.34 $ — $ (4.94 ) Weighted average anti-dilutive shares excluded from the dilutive computation 154 245 702 (1) Due to the net loss recognized for the year ended December 31, 2017, the share equivalents were anti-dilutive.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	a) Common Shares The Company's authorized share capital is 800,000,000 common shares, par value of $0.0125 per share. The following table presents changes in common shares issued and outstanding: Year ended December 31, 2019 2018 2017 Shares issued, balance at beginning of year 176,580 176,580 176,580 Shares issued — — — Total shares issued at end of year 176,580 176,580 176,580 Treasury shares, balance at beginning of year (92,994 ) (93,419 ) (90,139 ) Shares repurchased (176 ) (200 ) (4,288 ) Shares reissued 549 625 1,008 Total treasury shares at end of year (92,621 ) (92,994 ) (93,419 ) Total shares outstanding 83,959 83,586 83,161 Treasury Shares On July 5, 2017, the Company and the board of directors of Novae announced that it had agreed on terms of a recommended offer to be made by the Company to acquire the entire issued and to be issued share capital of Novae. Following the offer, the Company suspended its open market share repurchase plan. On December 31, 2017, authorization under the Board-authorized share repurchase plan for common share repurchases through 2017 expired. A common share repurchase plan has not been authorized since that date. The following table presents common shares repurchased from shares held in Treasury: Year ended December 31, 2019 2018 2017 In the open market: Total shares — — 3,932 Total cost $ — $ — $ 261,180 Average price per share (1) $ — $ — $ 66.43 From employees: (2) Total shares 176 200 356 Total cost $ 10,165 $ 10,080 $ 24,678 Average price per share (1) $ 57.66 $ 50.40 $ 69.36 Total shares repurchased: Total shares 176 200 4,288 Total cost $ 10,165 $ 10,080 $ 285,858 Average price per share (1) $ 57.66 $ 50.40 $ 66.67 (1) Calculated using whole numbers. (2) Shares are repurchased from employees to satisfy withholding tax liabilities that arise on the vesting of share-settled restricted stock units. b) Preferred Shares Series C Preferred Shares On March 19, 2012, the Company issued $400 million of 6.875% Series C preferred shares, par value $0.0125 per share, with a liquidation preference of $25.00 per share. The Company could redeem the Series C preferred shares on or after April 15, 2017 at a redemption price of $25.00 per share. Dividends on the Series C preferred shares were non-cumulative. Holders of the Series C preferred shares were entitled to receive, only when, as and if declared by the board of directors, non-cumulative cash dividends, from the original issue date, quarterly in arrears on the fifteenth day of January, April, July and October of each year, commencing on July 15, 2012. To the extent declared, these dividends accumulated, with respect to each dividend period, in an amount per share equal to 6.875% of the liquidation preference per annum. During October and November 2016, the Company repurchased 1,957,045 Series C preferred shares at an average purchase price of $25.67 per share for $50 million . In connection with the repurchase of these shares, a loss on redemption of $1 million , was recognized in determining net income available to common shareholders. On April 17, 2017, the Company redeemed the remaining 14,042,955 Series C preferred shares, for an aggregate liquidation preference of $351 million . Series D Preferred Shares On May 20, 2013, the Company issued $225 million of 5.50% Series D preferred shares, par value $0.0125 per share, with a liquidation preference of $25.00 per share. The Company could redeem the Series D preferred shares on or after June 1, 2018 at a redemption price of $25.00 per share. Dividends on the Series D preferred shares were non-cumulative. Holders of the Series D preferred shares were entitled to receive, only when, as and if declared by the board of directors, non-cumulative cash dividends from the original issue date, quarterly in arrears on the first day of March, June, September and December of each year, commencing on September 1, 2013. To the extent declared, these dividends accumulated, with respect to each dividend period, in an amount per share equal to 5.50% of the liquidation preference per annum. On January 17, 2020 , the Company redeemed all 9,000,000 Series D preferred shares, for an aggregate liquidation preference of $225 million (refer to Note 23 'Subsequent Events' ). Series E Preferred Shares On November 7, 2016, the Company issued $550 million of 5.50% Series E preferred shares, par value $0.0125 per share, with a liquidation preference of $2,500 per share. The Company may redeem the Series E preferred shares on or after November 7, 2021 at a redemption price of $2,500 per share. Dividends on the Series E preferred shares are non-cumulative. Holders of the Series E preferred shares will be entitled to receive, only when, as and if declared by the board of directors, non-cumulative cash dividends from the original issue date, quarterly in arrears on the fifteenth day of January, April, July and October of each year, commencing on January 15, 2017. To the extent declared, these dividends will accumulate, with respect to each dividend period, in an amount per share equal to 5.50% of the liquidation preference per annum. Dividends The following table presents dividends declared and paid related to the Company's common and preferred shares: Per share data Dividends declared Dividends paid in year of declaration Dividends paid in year following declaration Year ended December 31, 2017 Common shares $ 1.53 $ 1.14 $ 0.39 Series C preferred shares $ 0.43 $ 0.43 $ — Series D preferred shares $ 1.38 $ 1.03 $ 0.34 Series E preferred shares $ 137.50 $ 103.13 $ 34.38 Year ended December 31, 2018 Common shares $ 1.57 $ 1.17 $ 0.40 Series D preferred shares $ 1.38 $ 1.03 $ 0.34 Series E preferred shares $ 137.50 $ 103.13 $ 34.38 Year ended December 31, 2019 Common shares $ 1.61 $ 1.20 $ 0.41 Series D preferred shares $ 1.21 $ 1.03 $ 0.18 Series E preferred shares $ 137.50 $ 103.13 $ 34.38

RETIREMENT PLANS

RETIREMENT PLANS	12 Months Ended
	Dec. 31, 2019
Retirement Benefits [Abstract]
RETIREMENT PLANS	The Company maintains defined contribution plans to provide retirement benefits to eligible employees. Contributions to the plans, which are managed externally, are based on eligible compensation. For eligible U.S. employees, the Company provides a non-qualified deferred compensation plan that enables employees to make contributions to the plan that are in excess of those permitted under the Company's 401(k) Plan. In addition, employees are permitted to make additional contributions from any bonus received and to benefit from discretionary employer contribution to the Plan. During 2019 , total pension expenses were $28 million ( 2018 : $27 million and 2017 : $24 million ) for the above retirement benefits.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	In May 2017, shareholders approved the establishment of the AXIS Capital Holdings Limited 2017 Long-Term Equity Compensation Plan (the "2017 Plan"). The 2017 Plan provides for, among other things, the issuance of restricted shares, restricted stock units (share-settled awards and cash-settled awards), performance units (share-settled awards and cash-settled awards), stock options, stock appreciation rights and other equity-based awards to the Company's employees and directors. The 2017 Plan authorizes the issuance of a total of 3,400,000 common shares. The Company's 2017 Plan replaced its 2007 Long-Term Equity Compensation Plan ("2007 Plan") on expiration of the 2007 Plan in May 2017. All remaining shares available pursuant to the 2007 Plan have been canceled although awards made pursuant to the 2007 Plan prior to its expiration remain in effect in accordance with the terms of the 2007 Plan. At December 31, 2019 , 2,565,143 equity-based awards remained available for grant pursuant to the 2017 Plan. The grant date fair value of each award is established at the fair market value of the Company's common shares at the date of grant. Restricted Shares Restricted shares granted pursuant to the 2007 Plan generally vest in accordance with a four year graded vesting schedule in four annual installments beginning on the grant date. Restricted Stock Units - Share-Settled Share-settled restricted stock units granted pursuant to the 2017 Plan or the 2007 Plan either cliff vest at the end of a three year period, vest in accordance with a three year graded vesting schedule, or vest in accordance with a four year graded vesting schedule in four annual installments beginning on the grant date. Restricted Stock Units - Cash-Settled Cash-settled restricted stock units granted pursuant to the 2017 Plan or the 2007 Plan are liability awards and generally cliff vest at the end of a three year period, or vest in accordance with a four year graded vesting schedule in four annual installments beginning on the grant date. Performance Restricted Stock Units - Share-Settled and Cash-Settled Performance restricted stock units granted pursuant to the 2017 Plan or the 2007 Plan, represent the right to receive a specified number of common shares in the future, based on the achievement of established performance criteria and continued service during the applicable performance period. Awards granted pursuant to these plans generally cliff vest at the end of a three year period. Compensation expense is recognized on a straight-line basis over the applicable requisite service period and is subject to periodic adjustment based on the achievement of established performance criteria during the applicable performance period. Performance restricted stock units granted are either share-settled awards or cash-settled liability awards. Acceleration Provisions Grants provided under the 2017 Plan and the 2007 Plan generally allow for accelerated vesting provisions on the employee’s death, permanent disability, or certain terminations following a change in control of the Company occurring within two years of the change in control event. Notwithstanding these vesting provisions, the Compensation Committee of the Company's Board has broad authority to accelerate vesting at its discretion. Retirement Plan In 2016, the Company established the AXIS Executive Restricted Stock Unit Retirement Plan (the "Plan") to reward certain eligible long-term employees of the Company for their dedicated service. The Plan was implemented in 2017. Subject to certain conditions being met, eligible employees will not forfeit all of their outstanding share-settled restricted stock units or cash-settled restricted stock units on or following their retirement. Absent the Plan, outstanding restricted stock units are generally forfeited on termination of employment. a) Share-Settled Awards The following table provides an activity summary of the Company's share-settled restricted stock units: Share-Settled Performance Restricted Stock Units Share-Settled Service Restricted Stock Units Number of restricted stock units Weighted average grant date fair value (1) Number of restricted stock units Weighted average grant date fair value (1) Nonvested restricted stock units - December 31, 2017 230 $ 57.08 1,355 $ 57.09 Granted 104 48.89 737 49.36 Vested (87 ) 54.71 (539 ) 54.51 Forfeited (15 ) 53.80 (142 ) 55.36 Nonvested restricted stock units - December 31, 2018 232 54.54 1,411 54.12 Granted 127 54.70 523 54.88 Vested (61 ) 53.82 (487 ) 54.29 Forfeited (40 ) 64.01 (174 ) 54.49 Nonvested restricted stock units - December 31, 2019 258 $ 53.31 1,273 $ 54.32 (1) Fair value is based on the closing price of the Company's common shares on the grant date. b) Cash-Settled Awards The following table provides an activity summary of the Company's cash-settled restricted stock units: Cash-Settled Performance Restricted Stock Units Cash-Settled Service Restricted Stock Units Number of restricted stock units Number of restricted stock units Nonvested restricted stock units - December 31, 2017 42 988 Granted — 473 Vested (12 ) (390 ) Forfeited (3 ) (139 ) Nonvested restricted stock units - December 31, 2018 27 932 Granted — 364 Vested (12 ) (333 ) Forfeited (9 ) (110 ) Nonvested restricted stock units - December 31, 2019 6 853 The following table provides additional information related to share-based compensation: Year ended December 31, 2019 2018 2017 Share-based compensation expense (1) $ 52,218 $ 54,011 $ 67,697 Tax benefits associated with share-based compensation expense $ 8,913 $ 7,772 $ 14,937 Liability for cash-settled restricted stock units (2) $ 21,731 $ 20,648 $ 21,535 Fair value of restricted stock units vested (3)(4) $ 51,206 $ 50,750 $ 124,990 Unrecognized share-based compensation expense $ 75,770 $ 87,341 $ 94,315 Expected weighted average period to recognize unrecognized share-based compensation expense 2.3 years 2.4 years 2.5 years (1) Related to restricted shares, share-settled stock units, and cash settled restricted stock units. (2) Included in other liabilities in the consolidated balance sheets. (3) Fair value is based on the closing price of the Company's common shares on the vest date. (4) The fair value of share-settled restricted stock units and cash-settled restricted stock units that vested in 2017 included $44 million attributable to service restricted stock units which were granted in 2014 and were subject to a three year cliff vesting period.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	A member of the Company’s Board of Directors, Mr. Charles Davis, is the Chief Executive Officer of Stone Point Capital, LLC ("Stone Point"). In the ordinary course of business, the Company engages SKY Harbor Capital Management, LLC, an affiliate of Stone Point, to provide asset management services for certain short duration high yield debt portfolios. For the year ended December 31, 2019 , total fees paid to SKY Harbor Capital Management, LLC, were $3 million ( 2018 : $2 million ; 2017 : $2 million ). The Company has invested $11 million in NXT Capital Senior Loan Fund II, LP and $19 million in NXT Capital Senior Loan Fund III, LP. The manager of these funds is an indirect subsidiary of NXT Capital Inc. ("NXT Capital"). Investment funds managed by Stone Point indirectly owned approximately 43% of NXT Capital until this ownership interest was sold in August 2018. For the year ended December 31, 2018 , fees paid to NXT Capital were $1 million ( 2017 : $1 million ). In addition, the Company has invested $52 million in the Freedom Consumer Credit Fund, LLC - Series B. The manager of this fund is Freedom Financial Asset Management, LLC ("Freedom") which is an indirect subsidiary of Pantheon Partners, LLC ("Pantheon"). Investment funds managed by Stone Point own approximately 14.5% of Pantheon. For the year ended December 31, 2019 , fees paid to Freedom were $3 million ( 2018 : $2 million ; 2017 : $1 million ). At December 31, 2019 , the Company has committed to invest $71 million in Stone Point's private equity fund, Trident VIII L.P. ("Trident VIII"), For the year ended December 31, 2019 , the Company has not paid any fees to Stone Point in relation to Trident VIII. The Company's Chairman, Mr. Butt received consulting fees for the year ended December 31, 2019 of $0.4 million ( 2018 : $0.5 million ; 2017 : $0.5 million ) pursuant to the terms of a consulting agreement by and between Mr. Butt and the Company dated May 3, 2012, as amended, most recently on July 18, 2019 to extend the term of the agreement to December 31, 2020. The Company's investment portfolio includes certain investments where it is considered to have the ability to exercise significant influence over the operating and financial policies of the investee. Significant influence is generally deemed to exist where the Company has an investment of 20% or more in the common stock of a corporation or an investment greater than 3% to 5% in closed end funds, limited partnerships, LLCs or similar investment vehicles. At December 31, 2019 , the Company has $410 million ( 2018 : $450 million ) of investments where it is deemed to have the ability to exercise such significant influence. The Company generally pays management and performance fees to the investment managers of these investments. The Company considers all fees paid to the investment managers to be at market rates consistent with negotiated arms-length contracts. Harrington and Harrington Re commenced operations in 2016 (refer to Note 5 ' Investments '). The Company has the ability to exercise significant influence over the operating and financial policies of Harrington and Harrington Re. In the normal course of business, the Company entered into certain reinsurance transactions with Harrington Re. For the year ended December 31, 2019 , the Company ceded reinsurance premiums of $247 million ( 2018 : $194 million ; 2017 : $213 million ) and ceded losses of $157 million ( 2018 : $142 million ; 2017 : $119 million ) to Harrington Re. In addition, Harrington Re paid certain acquisition costs and administrative fees to the Company. At December 31, 2019 , the amount of reinsurance recoverable on unpaid and paid losses was $518 million ( 2018 : $363 million ) and the amount of ceded reinsurance payable included in insurance and reinsurance balances payable was $159 million ( 2018 : $115 million ) in the consolidated balance sheets. All transactions were conducted at market rates consistent with negotiated arms-length contracts. On November 5, 2013, the Company formed AXIS Ventures Reinsurance Limited ("Ventures Re"), a Bermuda domiciled insurer. With effect from January 1, 2015, Ventures Re is no longer consolidated in the financial statements of the Company. All of Ventures Re's directors are employees of the Company. In the normal course of business, the Company enters into certain reinsurance contracts with Ventures Re. For the year ended December 31, 2019 , the Company ceded premiums of $192 million ( 2018 : $182 million ; 2017 : $107 million ) and ceded losses of $140 million ( 2018 : $138 million ; 2017 : $126 million ) to Ventures Re. In addition, Ventures Re paid certain acquisition costs and administrative fees to the Company. At December 31, 2019 , the amount of reinsurance recoverable on unpaid and paid losses was $199 million ( 2018 : $186 million ) and the amount of ceded reinsurance payable included in insurance and reinsurance balances payable was $46 million ( 2018 : $67 million ) in the consolidated balance sheets. All transactions were conducted at market rates consistent with negotiated arms-length contracts.

TRANSACTION AND REORGANIZATION

TRANSACTION AND REORGANIZATION EXPENSES	12 Months Ended
	Dec. 31, 2019
Restructuring and Related Activities [Abstract]
TRANSACTION AND REORGANIZATION EXPENSES	For the year ended December 31, 2019 , reorganization expenses were $37 million ( 2018 : $67 million ), respectively, related to the Company's transformation program which was launched in 2017. This program encompasses the integration of Novae which commenced in the fourth quarter of 2017, the realignment of the Company's accident and health business, together with other initiatives designed to increase efficiency and enhance profitability while delivering a customer-centric operating model. For the year ended December 31, 2017 , transaction and reorganization expenses were $27 million

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	Under current Bermuda law, AXIS Capital's Bermuda domiciled subsidiaries are not required to pay any taxes in Bermuda on income or capital gains. The Company has received an assurance from the Minister of Finance in Bermuda that, in the event of any taxes being imposed, it will be exempt from taxation in Bermuda until March 2035. The Company's primary Bermuda subsidiary has an operating branch in Singapore, which is subject to the relevant taxes in that jurisdiction. The Singapore branch is not under examination in that tax jurisdiction but remains subject to examination for tax years 2016 through 2019. AXIS Capital's U.S. subsidiaries are subject to federal, state and local corporate income taxes, and other taxes applicable to U.S. corporations. The provision for federal income taxes has been determined under the principles of the consolidated tax provisions of the U.S. Internal Revenue Code and regulations. Should the U.S. subsidiaries pay a dividend outside the U.S. group, withholding taxes will apply. The Company's U.S. subsidiaries are not under examination but remain subject to examination for tax years 2016 through 2019. In Canada, AXIS Capital's U.S. reinsurance company operates through a branch and its U.S. service company has an unlimited liability company subsidiary based in Canada. The Canadian operations are subject to the relevant taxes in that jurisdiction and remain subject to examination for tax years 2015 through 2019. AXIS Capital had subsidiaries in Ireland, the U.K., Australia, Belgium, Luxembourg, Brazil and Dubai in 2018 and 2017. The Company ceased operations in Australia in 2017. Effective January 1, 2019, AXIS Capital's subsidiary in Belgium was merged into AXIS Specialty Europe. In addition, the Company ceased operations in Luxembourg in December 2019. Consequently, AXIS Capital had subsidiaries in Ireland, the U.K., Brazil and Dubai in 2019. AXIS Capital's Irish operations had branches in the U.K. and Switzerland in 2018 and 2017. Effective January 1, 2019, following the merger of AXIS Specialty Europe and Aviabel SA., AXIS Capital also has branches in Belgium and the Netherlands. Except for Ireland, with respect to a 2016 and 2017 revenue audit, these subsidiaries and their branches are not under examination, but remain subject to examination in all applicable jurisdictions for tax years 2015 through 2019. In the U.K., the Company operates through Lloyd’s syndicates whose income is subject to tax in the U.K., payable by its corporate members. The income from operations at Lloyd’s is also subject to taxes in other jurisdictions in which Lloyd's operates, including the U.S. Under a Closing Agreement between Lloyd’s and the IRS, Lloyd's corporate members pay U.S. income tax on U.S. connected income written by Lloyd’s syndicates. To the extent that the Lloyd’s syndicates suffer taxes outside the U.K., they may claim a credit for foreign taxes suffered, limited to the U.K. equivalent tax on the same income. The following table provides an analysis of income tax expense and net tax assets: Year ended December 31, 2019 2018 2017 Current income tax expense (benefit) U.S. $ 12,601 $ (5,401 ) $ (6,207 ) Europe 22,425 10,409 10,249 Other 469 51 — Deferred income tax expense (benefit) U.S. 17,665 15,288 18,495 Europe (29,468 ) (49,833 ) (30,079 ) Total income tax expense (benefit) $ 23,692 $ (29,486 ) $ (7,542 ) Net current tax receivables (payables) $ 13,130 $ 9,683 $ (639 ) Net deferred tax assets 18,621 39,775 4,438 Net tax assets $ 31,751 $ 49,458 $ 3,799 Deferred income taxes reflect the tax impact of temporary differences between the carrying amounts of assets and liabilities for financial reporting and income tax purposes. The following table provides details of the significant components of deferred tax assets and liabilities: At December 31, 2019 2018 Deferred tax assets: Discounting of net reserves for losses and loss expenses $ 40,523 $ 37,440 Unearned premiums 42,709 40,447 Net unrealized investments losses — 11,438 Operating and capital loss carryforwards (1) 85,901 83,850 Accruals not currently deductible 29,705 32,589 Tax credits 2,956 8,672 Other deferred tax assets 14,355 9,195 Deferred tax assets before valuation allowance 216,149 223,631 Valuation allowance (18,560 ) (18,955 ) Deferred tax assets net of valuation allowance 197,589 204,676 Deferred tax liabilities: Deferred acquisition costs (38,320 ) (39,745 ) Net unrealized investments gains (30,434 ) — Intangible assets (44,199 ) (49,097 ) Equalization reserves (2,825 ) (22,069 ) Other deferred tax liabilities (63,190 ) (53,990 ) Deferred tax liabilities (178,968 ) (164,901 ) Net deferred tax assets $ 18,621 $ 39,775 (1) At December 31, 2019 and 2018, the total operating loss carryforwards includes Lloyd's deferred year of account losses of $50 million and $68 million , respectively. The following table summarizes total operating and capital loss carryforwards and tax credits: At December 31, 2019 2018 Operating and Capital Loss Carryforwards (1) Singapore (branch) operating loss carryforward $ 103,899 $ 79,445 U.K. operating loss carryforward (2) 431,374 413,504 Ireland operating loss carryforward 9,064 12,756 U.S. operating loss carryforward — 15,062 Ireland capital loss carryforward 716 716 Tax Credits (1) Ireland foreign tax credit $ 2,092 $ 2,248 U.S. alternative minimum tax credit — 6,026 U.K. tax credit 864 398 (1) At December 31, 2019, all remaining operating and capital loss carryforwards and tax credits can be carried forward indefinitely. (2) At December 31, 2019 and 2018, the U.K. operating loss carryforward includes Lloyd's deferred year of account losses of $293 million and $403 million , respectively. The following table shows an analysis of the movement in the Company's valuation allowance: At December 31, 2019 2018 Income tax expense: Valuation allowance - beginning of year $ 13,891 $ 16,157 Operating loss carryforwards 2,445 198 Foreign tax credit (114 ) (1,359 ) U.K. branch assets and other foreign rate differentials 2,338 (205 ) U.S. alternative minimum tax credits — (900 ) Valuation allowance - end of year $ 18,560 $ 13,891 Accumulated other comprehensive income: Valuation allowance - beginning of year 5,064 — Change in investment - related items (5,064 ) 5,064 Valuation allowance - end of year — 5,064 Total valuation allowance - end of year $ 18,560 $ 18,955 At December 31, 2019 and 2018 , the Company established a full valuation allowance on: (1) operating loss carryforwards relating to operations in Singapore; (2) un-utilized foreign tax credits available in Ireland and (3) certain other deferred tax assets related to branch operations. At December 31, 2019 , the valuation allowance on certain unrealized investment losses was released as the Company was in an unrealized investment gain position. Although realization is not assured, management believes it is more likely than not that the tax benefit of the recorded net deferred tax assets will be realized. In evaluating the Company's ability to recover these tax assets within the jurisdiction from which they arise, it considered all available positive and negative evidence, including historical results, operating loss carry-back potential and scheduled reversals of deferred tax liabilities. The Company believes its U.S. and U.K. operations will produce significant taxable income in future periods and have deferred tax liabilities that will reverse in future periods, such that the Company believes sufficient ordinary taxable income is available to utilize all remaining ordinary deferred tax assets. At December 31, 2019 and 2018 , there were no unrecognized tax benefits. The following table presents the distribution of income before income taxes between domestic and foreign jurisdictions as well as a reconciliation of the actual income tax rate to the amount computed by applying the effective tax rate of 0% under Bermuda law to income before income taxes: Year ended December 31, 2019 2018 2017 Income (loss) before income taxes Bermuda (domestic) $ 179,418 $ 181,597 $ (188,420 ) Foreign 167,747 (168,062 ) (188,091 ) Total income (loss) before income taxes $ 347,165 $ 13,535 $ (376,511 ) Reconciliation of effective tax rate (% of income before income taxes) Expected tax rate 0.0 % 0.0 % 0.0 % Foreign taxes at local expected rates: U.S. 8.1 % 65.7 % 6.6 % Europe 0.4 % (289.7 )% 5.8 % Other — % 0.0 % 0.3 % Valuation allowance 1.3 % (13.4 )% — % Net tax exempt income — % (3.3 )% 0.1 % Change in U.S. enacted tax rate — % 0.0 % (11.1 )% Change in European enacted tax rate — % 16.9 % — % Other (3.0 )% 5.9 % 0.3 % Actual tax rate 6.8 % (217.9 )% 2.0 %

OTHER COMPREHENSIVE INCOME (LOS

OTHER COMPREHENSIVE INCOME (LOSS)	12 Months Ended
	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.

STATUTORY FINANCIAL INFORMATION

STATUTORY FINANCIAL INFORMATION	12 Months Ended
	Dec. 31, 2019
STATUTORY FINANCIAL INFORMATION [Abstract]
STATUTORY FINANCIAL INFORMATION	The Company's insurance and reinsurance operations are subject to insurance and reinsurance laws and regulations in the jurisdictions in which they operate, the most significant of which include Bermuda, Ireland, and the U.S. In addition, the Company is regulated by Lloyd's. These regulations include certain restrictions on the amount of dividends or other distributions, such as loans or cash advances, available to shareholders without prior approval from insurance regulatory authorities. The statutory capital and surplus in each of the Company's most significant regulatory jurisdictions is shown in the following table: Bermuda Ireland U.S. At December 31, 2019 2018 2019 2018 2019 2018 Required statutory capital and surplus $ 1,502,153 $ 1,470,375 $ 719,405 $ 637,226 $ 500,750 $ 489,560 Available statutory capital and surplus $ 3,288,752 $ 3,513,342 $ 1,069,621 $ 896,868 $ 1,713,013 $ 1,668,847 Bermuda Under the Insurance Act 1978, amendments thereto and Related Regulations of Bermuda (the "Act"), the Company's Bermuda subsidiary, AXIS Specialty Bermuda is required to maintain minimum statutory capital and surplus equal to the greater of a minimum solvency margin ("MSM") and the Enhanced Capital Requirement ("ECR"). The MSM is the greater of $100 million , 50% of net premiums written, 15% of net reserve for losses and loss expenses and 25% of the ECR. The Company's ECR is calculated based on a standard risk-based capital model developed by the Bermuda Monetary Authority ("BMA"). In 2016, the BMA implemented an Economic Balance Sheet ("EBS") framework which was used as the basis to determine the ECR. At December 31, 2019 and 2018 , the required and available statutory capital and surplus were based on this EBS framework. Under the Act, AXIS Specialty Bermuda is restricted as to the payment of dividends for amounts greater than 25% of the prior year’s statutory capital and surplus, whereby an affidavit signed by at least two members of the Board of Directors is required, attesting that any dividend in excess of this amount would not cause the Company to fail to meet its relevant margins. At December 31, 2019 , the maximum dividend AXIS Specialty Bermuda could pay, without a signed affidavit, having met minimum levels of statutory capital and surplus requirements, was approximately $844 million ( 2018 : $864 million ). Ireland Effective January 1, 2016, the Company's Irish subsidiaries, AXIS Specialty Europe and AXIS Re SE, are required to maintain the Minimum Capital Requirement ("MCR") and the Solvency Capital Requirement ("SCR") at all times. The capital requirements are calculated by reference to Solvency II definitions. If an entity falls below the MCR or SCR, the Central Bank of Ireland is authorized to take action to restore the financial position of the Company's Irish subsidiaries. During 2019 and 2018 , the Company's Irish subsidiaries were in compliance with these requirements. The Company's Irish subsidiaries may declare dividends subject to meeting their solvency and capital requirements. The maximum dividend is limited to "excess eligible own funds" which is defined as excess Solvency II capital over the SCR and may also be limited to "profits available for distribution'', which is defined as accumulated realized profits less accumulated realized losses and statutory reserves. At December 31, 2019 , the maximum dividend the Company's Irish subsidiaries could pay, having met their solvency and capital requirements was approximately $70 million ( 2018 : $37 million ). United States The Company's U.S. operations required statutory capital and surplus is determined using the risk-based capital formula ("RBC"), which is the National Association of Insurance Commissioners' (the "Commissioner") method of measuring the minimum capital appropriate for U.S. reporting entities to support its overall business operations in consideration of its size and risk profile. If a company falls below the authorized control level as determined under the RBC, the Commissioner is authorized to take whatever regulatory actions may be considered necessary to protect policyholders and creditors. The maximum dividend that may be paid by the Company's U.S. insurance subsidiaries is restricted by the regulatory requirements of the domiciliary states. Generally, the maximum dividend that may be paid by each of the Company's U.S. insurance subsidiaries is limited to unassigned surplus (statutory equivalent of retained earnings) and may also be limited to statutory net income, net investment income or 10% of total statutory capital and surplus. At December 31, 2019 , the maximum dividend that the Company's U.S. insurance operations could pay without regulatory approval was approximately $141 million ( 2018 : $130 million ). Lloyd's of London The Company operates in the Lloyd’s market through its corporate members, AXIS Corporate Capital UK Limited and AXIS Corporate Capital UK II Limited, which provide 70% and 30% , respectively, of Syndicate 1686's capital support. AXIS Corporate Capital UK Limited was the sole corporate member of Syndicate 1686 until December 31, 2018. Syndicate 1686 was managed by a third-party managing agency, Asta Managing Agency Limited, until August 2017, when the Company received final authorization from Lloyd's, the Prudential Regulation Authority ("PRA"), and the Financial Conduct Authority ("FCA") for its own Lloyd's managing agent, AXIS Managing Agency Ltd. ("AXIS Managing Agency"). Effective August 4, 2017, AXIS Managing Agency assumed management of Syndicate 1686, replacing the Company's third-party managing agency agreement with Asta Managing Agency Limited, which had been in place since 2014. AXIS Capital UK II Limited is the sole corporate member of Syndicate 2007. Novae Syndicates Limited ("NSL") managed Syndicate 2007 and SPA 6129, until it was deregistered on January 1, 2018. On January 1, 2018, the Company received authorization from Lloyd’s for AXIS Managing Agency to commence management and oversight of Syndicate 2007 and SPA 6129. SPA 6129 commenced trading on January 1, 2016, as a collaboration between Novae and Securis Investment Partners LLP, an insurance linked securities fund manager. For the three months ended December 31, 2017, NSL received a managing agency fee from SPA 6129. For the year ended December 31, 2018, AXIS Managing Agency received a managing agency fee from SPA 6129. The Company ended its collaboration with SPA 6129 in 2018. Corporate members of Lloyd’s and Lloyd’s syndicates are bound by the rules of Lloyd’s, which are prescribed by Bye-laws and Requirements made by the Council of Lloyd’s under powers conferred by the Lloyd’s Act 1982. These rules prescribe members’ membership subscription, the level of their contribution to the Lloyd’s Central Fund and the assets they must deposit with Lloyd’s in support of their underwriting. The Council of Lloyd’s has broad powers to sanction breaches of its rules, including the power to restrict or prohibit a member’s participation on Lloyd’s syndicates. The capital provided to support underwriting, or FAL, is not available for distribution for the payment of dividends or for working capital requirements. Corporate members may also be required to maintain funds under the control of Lloyd’s in excess of their capital requirements and such funds also may not be available for distribution for the payment of dividends. Lloyd’s sets the corporate members’ required capital annually through the application of a capital model that is based on regulatory rules pursuant to Solvency II. FAL may be satisfied by cash, certain investments and letters of credit provided by approved banks. At December 31, 2019 , fixed maturities and short-term investments with a fair value of $725 million ( 2018 : $715 million ) and cash of $22 million ( 2018 : $8 million ), respectively, were restricted to satisfy AXIS Corporate Capital UK Limited FAL requirements. At December 31, 2019 , fixed maturities and short-term investments with a fair value of $513 million ( 2018 : $528 million ), equity securities with a fair value of $49 million ( 2018 : $40 million ), and cash of $5 million ( 2018 : $16 million ) were restricted to satisfy AXIS Corporate Capital UK II Limited FAL requirements (refer to Note 5 ' Investments '). Each year, corporate members can apply to Lloyd's to release accumulated funds, whether syndicate profits or interest on FAL, which are in excess of the agreed FAL requirements. At December 31, 2019 and 2018 , actual capital and assets exceeded the FAL requirements for Syndicates 1686 and 2007. During 2019 , AXIS Corporate Capital UK II Limited released $47 million of funds in relation to the projected December 31, 2019 FAL requirement. AXIS Corporate Capital UK Limited did not release any funds during 2019. During 2018, Syndicates 1686 and 2007 did not apply to release funds for the year ended December 31, 2018 . Branch Offices The Company's operating subsidiaries in Bermuda and the U.S. maintain branch offices in Singapore and Canada, respectively. The Company's Irish operating subsidiaries maintain branch offices in Switzerland, the U.K, Belgium, and the Netherlands. In 2017, the Company ceased operations in Australia. As branch offices are not considered separate entities for regulatory purposes, the required and actual statutory capital and surplus amounts for each jurisdiction in the table above, include amounts related to the applicable branch offices. The Company's branch offices in Singapore and Canada are subject to additional minimum capital or asset requirements in their countries of domicile. At December 31, 2019 and 2018 , the actual capital/assets for each of these branches exceeded the relevant local regulatory requirements. Total statutory net income (loss) of the Company's operating subsidiaries was $364 million , $268 million , $(94) million for 2019 , 2018 and 2017 , respectively. The differences between statutory financial statements and statements prepared in accordance with U.S. GAAP vary by jurisdiction, however, the primary differences are that statutory financial statements may not reflect deferred acquisition costs, certain net deferred tax assets, goodwill and intangible assets, unrealized gains (losses) on fixed maturities or certain unauthorized reinsurance recoverable balances.

UNAUDITED CONDENSED QUARTERLY F

UNAUDITED CONDENSED QUARTERLY FINANCIAL DATA	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
UNAUDITED CONDENSED QUARTERLY FINANCIAL DATA	An unaudited summary of quarterly financial results is shown in the following table: Quarters ended Mar 31 Jun 30 Sep 30 Dec 31 2019 Net premiums earned $ 1,134,212 $ 1,123,607 $ 1,157,307 $ 1,172,051 Net investment income 107,303 137,949 115,763 117,557 Net investment gains 12,767 21,225 14,527 42,712 Underwriting income (loss) (1) (2) 77,822 78,659 (78,718 ) (49,254 ) Net income (loss) available (attributable) to common shareholders 98,125 166,387 27,745 (9,897 ) Earnings (loss) per common share $ 1.17 $ 1.98 $ 0.33 $ (0.12 ) Earnings (loss) per diluted common share $ 1.16 $ 1.97 $ 0.33 $ (0.12 ) 2018 Net premiums earned $ 1,167,402 $ 1,185,548 $ 1,224,075 $ 1,214,469 Net investment income 100,999 109,960 114,421 113,128 Net investment losses (14,830 ) (45,093 ) (17,628 ) (72,667 ) Underwriting income (loss) 143,737 115,726 59,026 (194,664 ) Net income (loss) available (attributable) to common shareholders 62,546 92,858 43,439 (198,448 ) Earnings (loss) per common share $ 0.75 $ 1.11 $ 0.52 $ (2.37 ) Earnings (loss) per diluted common share $ 0.75 $ 1.11 $ 0.52 $ (2.37 ) (1) Consolidated underwriting income is a pre-tax measure of underwriting profitability that takes into account net premiums earned and other insurance related income (loss) as revenues and net losses and loss expenses, acquisition costs and underwriting-related general and administrative expenses as expenses. Consolidated underwriting income (loss) is a non-GAAP financial measure as defined in Item 10(e) of SEC Regulation S-K. The reconciliation to income (loss) before income taxes and interest in income (loss) of equity method investments, the most comparable GAAP financial measure, is provided in Note 3 'Segment Information'. (2) Underwriting-related general and administrative expenses includes those general and administrative expenses that are incremental and/or directly attributable to the Company's underwriting operations. Underwriting-related general and administrative expenses is a non-GAAP financial measure as defined in Item 10(e) of SEC Regulation S-K. The reconciliation to general and administrative expenses, the most comparable GAAP financial measure, also included corporate expenses of $129 million , $108 million and $130 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. Corporate expenses include holding company costs necessary to support our worldwide insurance and reinsurance operations and costs associated with operating as a publicly-traded company. As these costs are not incremental and/or directly attributable to the Company's underwriting operations, these expenses are excluded from underwriting-related general and administrative expenses. (3) During the quarters ended March 31, June 30, September 30 and December 31, 2019, the Company recognized reorganization expenses of $15 million , $3 million , $11 million and $8 million , respectively, related to its transformation program which was launched in 2017. This program encompasses the integration of Novae which commenced in the fourth quarter of 2017, the realignment of the accident and health business, together with other initiatives designed to increase the Company's efficiency and enhance the Company's profitability while delivering a customer-centric operating model. During the quarters ended March 31, June 30, September 30 and December 31, 2018, the Company recognized reorganization expenses of $13 million , $19 million , $16 million and $19 million , respectively (refer to Note 18 ' Transaction and Reorganization Expense' ). (4) During the quarters ended March 31, June 30, September 30 and December 31, 2019, the Company recognized amortization of VOBA of $13 million , $7 million , $4 million , $2 million , respectively, related to the acquisition of Novae. During the quarters ended March 31, June 30, September 30 and December 31, 2018, the Company recognized amortization of VOBA of $57 million , $53 million , $39 million and $23 million (refer to Note 4 'Goodwill and Intangible Assets ').

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	Series D Preferred Shares On January 17, 2020 , the Company redeemed all 9,000,000 Series D preferred shares, for an aggregate liquidation preference of $225 million (refer to Note 14 'Shareholder's Equity' ).

SCHEDULE I - SUMMARY OF INVESTM

SCHEDULE I - SUMMARY OF INVESTMENTS - OTHER THAN INVESTMENTS IN RELATED PARTIES	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]
SCHEDULE I - SUMMARY OF INVESTMENTS - OTHER THAN INVESTMENTS IN RELATED PARTIES	AXIS CAPITAL HOLDINGS LIMITED SUMMARY OF INVESTMENTS - OTHER THAN INVESTMENTS IN RELATED PARTIES At December 31, 2019 Amortized cost Fair value Amount shown on the balance sheet (in thousands) Type of investment: Fixed maturities, available for sale, at fair value U.S. government and agency $ 2,102,849 $ 2,112,881 $ 2,112,881 Non-U.S. government 564,505 576,592 576,592 Corporate debt 4,797,384 4,930,254 4,930,254 Agency RMBS 1,570,823 1,592,584 1,592,584 CMBS 1,340,156 1,365,052 1,365,052 Non-Agency RMBS 84,381 84,922 84,922 ABS 1,599,867 1,598,693 1,598,693 Municipals 203,275 207,227 207,227 Total fixed maturities $ 12,263,240 12,468,205 12,468,205 Mortgage loans, held for investment, at fair value 432,748 432,748 Short-term investments, at fair value 38,471 38,471 Equity securities, at fair value 474,207 474,207 Other investments, at fair value (1) 478,810 770,923 Equity method investments (2) — 117,821 Total investments $ 13,892,441 $ 14,302,375 (1) Other investments exclude investments where the Company is considered to have the ability to exercise significant influence over the operating and financial policies of the investees. (2) Equity method investments are excluded as the Company has the ability to exercise significant influence over the operating and financial policies of the investees.

SCHEDULE II - CONDENSED FINANCI

SCHEDULE II - CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY ONLY	12 Months Ended
	Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]
SCHEDULE II - FOOTNOTES	AXIS CAPITAL HOLDINGS LIMITED CONDENSED BALANCE SHEETS – PARENT COMPANY DECEMBER 31, 2019 AND 2018 2019 2018 (in thousands) Assets Investments in subsidiaries $ 5,807,851 $ 5,320,828 Cash and cash equivalents 3,103 3,099 Other assets 5,540 9,647 Total assets $ 5,816,494 $ 5,333,574 Liabilities Intercompany payable $ 215,911 $ 247,992 Dividends payable 50,927 51,157 Other liabilities 5,648 4,354 Total liabilities 272,486 303,503 Shareholders’ equity Preferred shares 775,000 775,000 Common shares (shares issued 2019: 176,580; 2018: 176,580 2,206 2,206 Additional paid-in capital 2,317,212 2,308,583 Accumulated other comprehensive income (loss) 171,710 (177,110 ) Retained earnings 6,056,686 5,912,812 Treasury shares, at cost (2019: 92,621; 2018: 92,994) (3,778,806 ) (3,791,420 ) Total shareholders’ equity 5,544,008 5,030,071 Total liabilities and shareholders’ equity $ 5,816,494 $ 5,333,574 (1) AXIS Capital has fully and unconditionally guaranteed all obligations of AXIS Specialty Finance LLC, a 100% owned finance subsidiary, related to the issuance of $500 million aggregate principal amount of 5.875% senior unsecured notes. AXIS Capital’s obligations under this guarantee are unsecured senior obligations and rank equally with all other senior obligations of AXIS Capital. (2) AXIS Capital has fully and unconditionally guaranteed all obligations of AXIS Specialty Finance PLC, a 100% owned finance subsidiary, related to the issuance of $250 million aggregate principal amount of 5.15% senior unsecured notes. AXIS Capital's obligations under this guarantee are unsecured senior obligations and rank equally with all other senior obligations of AXIS Capital. (3) AXIS Capital has fully and unconditionally guaranteed all obligations of AXIS Specialty Finance PLC, a 100% owned finance subsidiary, related to the issuance of $350 million aggregate principal amount of 4.0% senior unsecured notes. AXIS Capital's obligations under this guarantee are unsecured senior obligations and rank equally with all other senior obligations of AXIS Capital. (4) On February 15, 2018, AXIS Capital contributed $105 million to AXIS Specialty Global Holdings Limited to support the capital requirements of its U.S. subsidiaries. (5) AXIS Capital has fully and unconditionally guaranteed all obligations of AXIS Specialty Finance LLC, a 100% owned finance subsidiary, related to the issuance of $300 million aggregate principal amount of 3.9% senior unsecured notes. AXIS Capital's obligations under this guarantee are unsecured senior obligations and rank equally with all other senior obligations of AXIS Capital. (6) AXIS Capital has fully and unconditionally guaranteed all obligations of AXIS Specialty Finance LLC, a 100% owned finance subsidiary, related to the issuance of $425 million aggregate principal amount of 4.9% fixed-rate reset junior unsecured notes. AXIS Capital's obligation under this guarantee is an unsecured junior subordinated obligation and ranks equally with all future unsecured and junior subordinated obligations of AXIS Capital, and junior in right of payment to all outstanding and future senior obligations of AXIS Capital. SCHEDULE II AXIS CAPITAL HOLDINGS LIMITED CONDENSED STATEMENTS OF OPERATIONS – PARENT COMPANY YEARS ENDED DECEMBER 31, 2019 , 2018 AND 2017 2019 2018 2017 (in thousands) Revenues Net investment income (1) $ 1,800 $ 900 $ 2,116 Total revenues 1,800 900 2,116 Expenses General and administrative expenses 53,335 29,250 34,933 Total expenses 53,335 29,250 34,933 Income (loss) before equity in net income (loss) of subsidiaries (51,535 ) (28,350 ) (32,817 ) Equity in net income (loss) of subsidiaries 375,008 71,371 (336,152 ) Net income (loss) 323,473 43,021 (368,969 ) Preferred share dividends 41,112 42,625 46,810 Net income (loss) available (attributable) to common shareholders $ 282,361 $ 396 $ (415,779 ) Comprehensive income (loss) $ 672,293 $ (158,973 ) $ (154,746 ) (1) On April 15, 2017 a promissory note of $368 million advanced by AXIS Capital Holdings Limited to AXIS Specialty Limited on November 7, 2016, matured. For the year ended December 31, 2017, interest earned at an annual rate of 1.132% and was recorded in net investment income. SCHEDULE II AXIS CAPITAL HOLDINGS LIMITED CONDENSED STATEMENTS OF CASH FLOWS – PARENT COMPANY YEARS ENDED DECEMBER 31, 2019 , 2018 AND 2017 2019 2018 2017 (in thousands) Cash flows from operating activities: Net income (loss) $ 323,473 $ 43,021 $ (368,969 ) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Equity in net income (loss) of subsidiaries (375,008 ) (71,371 ) 336,152 Change in intercompany payable (32,081 ) 87,042 94,827 Dividends received from subsidiaries 250,000 200,000 400,000 Other items 23,619 (79,927 ) 4,988 Net cash provided by operating activities 190,003 178,765 466,998 Cash flows from investing activities: Capital returned by subsidiary — — 368,252 Net cash provided by investing activities — — 368,252 Cash flows from financing activities: Repurchase of common shares - open market — — (261,180 ) Taxes paid on withholding shares (10,165 ) (10,080 ) (24,678 ) Dividends paid - common shares (137,209 ) (133,502 ) (135,032 ) Repurchase of preferred shares — — (351,074 ) Dividends paid - preferred shares (42,625 ) (42,625 ) (52,844 ) Net cash used in financing activities (189,999 ) (186,207 ) (824,808 ) Increase (decrease) in cash, cash equivalents and restricted cash 4 (7,442 ) 10,442 Cash, cash equivalents and restricted cash - beginning of year 3,099 10,541 99 Cash, cash equivalents and restricted cash - end of year $ 3,103 $ 3,099 $ 10,541

SCHEDULE III - SUPPLEMENTARY IN

SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract]
SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION	AXIS CAPITAL HOLDINGS LIMITED SUPPLEMENTARY INSURANCE INFORMATION At and year ended December 31, 2019 (in thousands) Deferred acquisition costs Reserve for losses and loss expenses Unearned premiums Net premiums earned Net investment income (1) Net losses and loss expenses Acquisition costs Other operating expenses (2) Net premiums written Insurance $ 191,925 $ 6,496,568 $ 2,115,664 $ 2,190,084 $ — $ 1,278,679 $ 468,281 $ 401,963 $ 2,209,155 Reinsurance 300,194 6,255,513 1,510,582 2,397,094 — 1,766,119 556,301 103,772 2,280,460 Corporate — — — — 478,572 — — 129,096 — Total $ 492,119 $ 12,752,081 $ 3,626,246 $ 4,587,178 $ 478,572 $ 3,044,798 $ 1,024,582 $ 634,831 $ 4,489,615 At and year ended December 31, 2018 (in thousands) Deferred acquisition costs Reserve for losses and loss expenses Unearned premiums Net premiums earned Net investment income (1) Net losses and loss expenses Acquisition costs Other operating expenses (2) Net premiums written Insurance $ 209,622 $ 6,426,309 $ 2,061,123 $ 2,362,606 $ — $ 1,494,323 $ 399,193 $ 395,252 $ 2,324,747 Reinsurance 357,000 5,854,460 1,574,635 2,428,889 — 1,695,964 569,642 123,916 2,334,215 Corporate — — — — 438,507 — — 108,221 — Total $ 566,622 $ 12,280,769 $ 3,635,758 $ 4,791,495 $ 438,507 $ 3,190,287 $ 968,835 $ 627,389 $ 4,658,962 At and year ended December 31, 2017 (in thousands) Deferred acquisition costs Reserve for losses and loss expenses Unearned premiums Net premiums earned Net investment income (1) Net losses and loss expenses Acquisition costs Other operating expenses (2) Net premiums written Insurance $ 115,332 $ 7,011,805 $ 2,053,422 $ 1,816,438 $ — $ 1,465,427 $ 270,229 $ 325,368 $ 1,775,825 Reinsurance 358,729 5,985,748 1,587,977 2,332,322 — 1,822,345 553,362 124,115 2,251,318 Corporate — — — — 400,805 — — 129,945 — Total $ 474,061 $ 12,997,553 $ 3,641,399 $ 4,148,760 $ 400,805 $ 3,287,772 $ 823,591 $ 579,428 $ 4,027,143 (1) The Company evaluates underwriting results of its reportable segments separately from the performance of its investment portfolio therefore, the Company believes it is appropriate to exclude net investment income from its underwriting profitability measure. (2) Amounts related to the Company's reportable segments reflect underwriting-related general and administrative expenses, which includes those general and administrative expenses that are incremental and/or directly attributable to the Company's underwriting operations. Underwriting-related general and administrative expenses is a non-GAAP financial measure as defined in Item 10(e) of SEC Regulation S-K. The reconciliation to general and administrative expenses, the most comparable GAAP financial measure, presented in the table above, also included corporate expenses of $129 million , $108 million and $130 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. Corporate expenses include holding company costs necessary to support our worldwide insurance and reinsurance operations and costs associated with operating as a publicly-traded company. As these costs are not incremental and/or directly attributable to the Company's underwriting operations, these expenses are excluded from underwriting-related general and administrative expenses.

SCHEDULE IV - SUPPLEMENTARY REI

SCHEDULE IV - SUPPLEMENTARY REINSURANCE INFORMATION	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract]
SCHEDULE IV - SUPPLEMENTARY REINSURANCE INFORMATION	AXIS CAPITAL HOLDINGS LIMITED SUPPLEMENTARY REINSURANCE INFORMATION YEARS ENDED DECEMBER 31, 2019 , 2018 AND 2017 (in thousands) GROSS AMOUNT CEDED TO OTHER COMPANIES ASSUMED FROM OTHER COMPANIES NET AMOUNT PERCENTAGE OF AMOUNT ASSUMED TO NET 2019 Property and Casualty $ 3,134,462 $ 2,311,001 $ 3,187,623 $ 4,011,084 79.5 % Accident and Health 141,535 98,242 435,238 478,531 91.0 % Total $ 3,275,997 $ 2,409,243 $ 3,622,861 $ 4,489,615 80.7 % 2018 Property and Casualty $ 3,258,999 $ 2,163,417 $ 3,074,906 $ 4,170,488 73.7 % Accident and Health 209,041 87,686 367,119 488,474 75.2 % Total $ 3,468,040 $ 2,251,103 $ 3,442,025 $ 4,658,962 73.9 % 2017 Property and Casualty $ 2,228,022 $ 1,523,662 $ 2,814,173 $ 3,518,533 80.0 % Accident and Health 195,104 5,468 318,974 508,610 62.7 % Total $ 2,423,126 $ 1,529,130 $ 3,133,147 $ 4,027,143 77.8 %

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICATION ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Tabular dollar and share amounts are in thousands, with the exception of per share amounts. All amounts are reported in U.S. dollars. These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and the rules and regulations of the U.S. Securities and Exchange Commission ("SEC") and include AXIS Capital and its wholly-owned subsidiaries.
Consolidation/VIEs	All inter-company accounts and transactions have been eliminated.
Reclassification	During the three months ended March 31, 2018, the Company realigned its accident and health business by integrating this business and its operations into the Company's insurance and reinsurance segments. Through this realignment, the Company's accident and health business benefited from the greater scale and market presence of the Company's property and casualty insurance and reinsurance businesses and operations. Financial results relating to the Company's accident and health lines of business were previously included in the Company's insurance segment. Effective January 1, 2018, accident and health results are included in the results of both the insurance and reinsurance segments of the Company. As a result of the realignment, gross premiums written for the year ended December 31, 2017 of $313 million and underwriting income for the year ended December 31, 2017 of $14 million were reclassified from the Company's insurance segment to the Company's reinsurance segment. At December 31, 2018 the Company represented reinsurance recoverable on unpaid losses separately from reinsurance recoverable on paid losses in the consolidated balance sheets. This presentation was adopted to facilitate comparison to the reconciliation of beginning and ending net reserves for unpaid losses and loss expenses (refer to Note 8 'Reserve for Losses and Loss Expenses') . These reclassifications did not impact results of operations, financial condition or liquidity.
Use of Estimates	The preparation of these consolidated financial statements requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. While management believes that the amounts included in the consolidated financial statements reflect its best estimates and assumptions, actual results could differ from those estimates. The Company’s principal estimates include: • reserve for losses and loss expenses; • reinsurance recoverable on unpaid losses and loss expenses, including the provision for uncollectible amounts; • gross and net premiums written and net premiums earned; • fair value measurements of financial assets and liabilities; and • other-than-temporary impairments ("OTTI") in the carrying value of available-for-sale securities.
Investments	Fixed Maturities, Available-for-sale, at Fair Value Fixed maturities classified as available for sale are reported at fair value (refer to Note 6 ' Fair Value Measurements '). The change in fair values of fixed maturities, net of tax is recognized in accumulated other comprehensive income (loss) ("AOCI") in the consolidated statement of changes in shareholders’ equity. Net investment income includes interest income and the amortization of market premiums and discounts and is presented net of investment expenses. Investment income is recognized when earned. Purchases and sales of fixed maturities are recorded on a trade-date basis and realized investment gains (losses) on sales of fixed maturities are determined based on the specific identification method. Realized investment gains (losses) on fixed maturities are included in net investment gains (losses) in the consolidated statements of operations. The Company recognizes investment income from fixed maturities based on the constant effective yield method, which includes an adjustment for estimated principal repayments, if applicable. The effective yield used to determine the amortization of fixed maturities subject to prepayment risk (e.g. asset-backed, mortgage-backed and other structured securities) is recalculated and adjusted periodically based on historical and/or projected future cash flows. Adjustments to the yield for highly rated prepayable fixed maturities are accounted for using the retrospective method. Adjustments to the yield for other prepayable fixed maturities are accounted for using the prospective method. A fixed maturity is impaired if the fair value of the investment is below amortized cost. On a quarterly basis, the Company assesses whether unrealized losses on fixed maturities represent impairments that are other-than-temporary. The Company's impairment review process begins with a quantitative analysis to identify securities to be evaluated for potential OTTI. For identified securities, fundamental analysis is performed that considers the following quantitative and qualitative factors: a. the duration and the extent of the decline; b. the financial condition, near-term and long-term prospects of the issuer of the security; c. the reason for the decline (e.g. credit spread widening, credit event, foreign exchange rate movements); d. the historical and implied future volatility of the fair value; and e. the collateral structure and credit support of the security, if applicable. If a fixed maturity is impaired and the Company intends to sell the security or it is more likely than not that the Company will be required to sell the security before its anticipated recovery, the impairment is considered other-than-temporary. In these instances, the full amount of the impairment is charged to net income and is included in net investment gains (losses) in the consolidated statements of operations. In instances where the Company intends to hold the impaired fixed maturity, the Company estimates the anticipated credit loss on the security and this component of the impairment is charged to net income and is included in net investment gains (losses) in the consolidated statements of operations. On recognition of an OTTI charge, the new cost basis for the security is the amortized cost basis less the OTTI charge recognized in net income. The new cost basis is not adjusted for subsequent increases in fair value. The difference between the new cost basis and the cash flows expected to be collected is accreted or amortized on a quarterly basis to net investment income over the remaining life of the fixed maturity. The Company recognizes the non-credit component of the impairment (i.e. related to interest rates, market conditions, etc.) in other comprehensive income. Equity Securities, at Fair Value Equity securities are reported at fair value (refer to Note 6 ' Fair Value Measurements '). Subsequent to the adoption of Accounting Standards Update ("ASU") 2016-01, "Financial Instruments - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities, " on January 1, 2018, the change in the fair values of equity securities, net of tax is recognized in net investment gains (losses) in the consolidated statements of operations. Net investment income includes dividend income and is presented net of investment expenses. Investment income is recognized when earned. Purchases and sales of equity securities are recorded on a trade-date basis and realized gains (losses) on sales of equity securities are determined based on the specific identification method. Realized gains (losses) on equity securities are included in net investment gains (losses) in the consolidated statements of operations. Prior to the Adoption of ASU 2016-01 Equity securities are reported at fair value. Prior to the adoption of ASU 2016-01, the change in the fair values of equity securities, net of tax was recognized in AOCI in the consolidated statement of changes in shareholders’ equity. An equity security is impaired if the fair value of the investment is below cost. On a quarterly basis, the Company assessed whether unrealized losses on equity securities represented impairments that were other-than-temporary and recognized impairments on equity securities in an unrealized loss position when the Company did not have the ability and intent to hold the security for a reasonable period of time to allow for a full recovery. The full amount of the impairment was charged to net income and was included in net investment gains (losses) in the consolidated statements of operations. On recognition of an OTTI charge, the new cost basis for the equity security was the cost for an equity security less the OTTI charge recognized in net income. The new cost basis was not adjusted for subsequent increases in fair value. Mortgage Loans Held-for-investment Mortgage loans held-for-investment are reported at amortized cost which is calculated as the unpaid principal balance, adjusted for any unamortized premium or discount, deferred fees or expenses, and is net of valuation allowances. Interest income and prepayment fees are recognized when earned. Interest income is recognized based on an effective yield method which gives effect to the amortization of premiums and accretion of discounts. Other Investments Other investments are recorded at fair value (refer to Note 6 ' Fair Value Measurements '), with changes in fair value and realized gains (losses) reported in net investment income in the consolidated statements of operations. Equity Method Investments Investments in which the Company has significant influence over the operating and financial policies of the investee are classified as equity method investments and are accounted for using the equity method of accounting. In applying the equity method of accounting, investments are initially recorded at cost and are subsequently adjusted based on the Company’s proportionate share of net income or loss of the investee. Adjustments are based on the most recently available financial information from the investee. Changes in the carrying value of these investments are recorded in net income as interest in income (loss) of equity method investments. Short-term Investments Short-term investments primarily comprise highly liquid debt securities with maturities greater than three months but less than one year from the date of purchase. These investments are carried at amortized cost, which approximates fair value.
Cash and Cash Equivalents	Cash equivalents include money-market funds, fixed interest deposits and reverse repurchase agreements with a maturity of under 90 days when purchased. Cash and cash equivalents are recorded at amortized cost, which approximates fair value due to the short-term, liquid nature of these securities. Restricted cash primarily relates to funds held in trust to support of obligations in regulatory jurisdictions where the Company operates as a non-admitted carrier and to support the underwriting activities of Syndicate 1686 and Syndicate 2007 at Lloyd's.
Premiums - Gross Premiums Written	Insurance premiums written are recorded in accordance with the terms of the underlying policies. Reinsurance premiums are recorded at the inception of the contract and are estimated based on information received from ceding companies. For multi-year contracts insurance and reinsurance premiums are recorded at the inception of the contract based on management’s best estimate of total premiums to be received. Premiums are recognized on an annual basis for multi-year contracts where the cedant has the ability to unilaterally commute or cancel coverage within the term of the contract. Any adjustments to insurance and reinsurance premium estimates are recognized in the period in which they are determined.
Premiums - Net Premiums Earned	Insurance and reinsurance premiums are earned evenly over the period during which the Company is exposed to the underlying risk, which is generally one to two years with the exception of multi-year contracts. Unearned premiums represent the portion of premiums which relate to the unexpired risks under contracts in force. Reinstatement premiums are recognized and earned at the time a loss event occurs and losses are recorded, where the coverage limits for the remaining life of the contract are reinstated under pre-defined contract terms. The recognition of reinstatement premiums is based on estimates of losses and loss expenses, which reflects management’s judgment, as described in Note 2(d) ' Losses and Loss Expenses ' below.
Premiums - Receivables	Insurance and reinsurance premiums balances receivable are reviewed for impairment at least quarterly and an allowance is established for amounts considered uncollectible.
Acquisition Costs	Acquisition costs vary with and are directly related to the successful acquisition efforts of acquiring new or renewing existing insurance and reinsurance contracts and consist primarily of fees and commissions paid to brokers and premium taxes. Acquisition costs are shown net of commissions on reinsurance purchased. Net acquisition costs are deferred and charged to net income as the related premium is earned. Insurance and reinsurance premiums balance receivable is presented net of acquisition costs when contract terms provide for the right of offset. Anticipated losses and loss expenses, other costs and investment income related to these premiums are considered in assessing the recoverability of deferred acquisition costs. If deferred amounts are estimated to be unrecoverable, they are expensed. Compensation expenses for personnel involved in contract acquisition, as well as advertising costs, are expensed as incurred.
Losses and Loss Expenses	Reserve for losses and loss expenses represents an estimate of the unpaid portion of the ultimate liability for losses and loss expenses for insured and reinsured events that have occurred at or before the balance sheet date. These amounts reflect claims that have been reported ("case reserves") and claims that have been incurred but have not yet been reported ("IBNR") and are reduced for estimated amounts of salvage and subrogation recoveries. The Company reviews its reserve for losses and loss expenses on a quarterly basis. Case reserves are primarily established based on amounts reported by insureds and/or their brokers. Management estimates IBNR after reviewing detailed actuarial analyses and applying informed judgment regarding qualitative factors that may not be fully captured in the actuarial estimates. A variety of actuarial methods are utilized in this process, including the Expected Loss Ratio, Chain Ladder and Bornhuetter Ferguson methods. The estimate is highly dependent on management’s judgment as to which method(s) are most appropriate for a particular accident/underwriting year and line of business. Historical claims data is often supplemented with industry benchmarks when applying these methodologies. Any adjustments to reserve for losses and loss expenses estimates are recognized in the period in which they are determined. While the Company believes that its reserves for losses and loss expenses are adequate, this estimate requires significant judgment and new information, events or circumstances may result in ultimate losses that are materially greater or less than provided for in the consolidated balance sheets.
Reinsurance	In the normal course of business, the Company purchases treaty and facultative reinsurance protection to limit its ultimate losses from catastrophic events and to reduce its loss aggregation risk. The premiums paid to reinsurers (i.e. ceded premiums written) are recognized over the coverage period. Prepaid reinsurance premiums represent the portion of premiums ceded which relate to the unexpired term of the contracts in force. Reinstatement premiums are recognized and earned at the time a loss event occurs and losses are recorded, where the coverage limits for the remaining life of the contract are reinstated under pre-defined contract terms. Reinsurance recoverable on unpaid and paid losses and loss expenses ("reinsurance recoverable") related to case reserves is estimated on a case-by-case basis by applying the terms of applicable reinsurance cover to individual case reserve estimates. Reinsurance recoverable related to IBNR is generally developed as part of the Company's loss reserving process, therefore, its estimation is subject to similar risks and uncertainties as the estimation of IBNR. Reinsurance recoverable is presented net of a provision for uncollectible amounts, reflecting the amount the Company believes ultimately will not be recovered from reinsurers due to insolvency, contractual disputes over contract language or coverage and/or some other reason. The Company applies case specific provisions against reinsurance recoverable balances that it deems unlikely to be collected in full. In addition, the Company uses a default analysis to estimate the provision for uncollectible amounts on the remainder of the reinsurance recoverable balance. The estimates of reinsurance recoverable and the provision for uncollectible amounts require management’s judgment and are reviewed in detail on a quarterly basis. Any adjustments to the provision for uncollectible amounts are recognized in the period in which they are determined. Retroactive Reinsurance Retroactive reinsurance reimburses a ceding company for liabilities incurred as a result of past insurable events covered under contracts subject to the reinsurance. In certain instances, reinsurance contracts cover losses both on a prospective basis and on a retroactive basis and where practical the Company bifurcates the prospective and retrospective elements of these reinsurance contracts and accounts for each element separately. Initial gains in connection with retroactive reinsurance contracts are deferred and amortized into income over the settlement period while losses are recognized immediately. When changes in the estimated amount recoverable from the reinsurer or in the timing of receipts related to that amount occur, a cumulative amortization adjustment is recognized in net income in the period in which the change is determined so that the deferred gain reflects the balance that would have existed had the revised estimate been available at the inception of the reinsurance transaction.
Foreign Exchange	The functional currency of the Company and the majority of its subsidiaries is the U.S. dollar. All foreign currency transactions are initially measured and recorded in functional currency using the rates of exchange prevailing at the transaction date. Monetary assets and liabilities denominated in foreign currency are remeasured to functional currency at the rates of exchange in effect at the balance sheet date with the resulting foreign exchange losses (gains) generally being recognized in the consolidated statements of operations. Foreign exchange losses (gains) related to available for sale investments denominated in foreign currency represent an unrealized appreciation (depreciation) in the market value of the securities and are included in AOCI. Non-monetary assets and liabilities denominated in foreign currency are not subsequently remeasured. The Company’s reporting currency is the U.S. dollar. Assets and liabilities of the Company's subsidiaries and branches where the functional currency is not the U.S. dollar, are translated into U.S. dollars using the rates of exchange in effect at the balance sheet date, and revenue and expenses are translated using the weighted average foreign exchange rates for the period. The effect of translation adjustments is reported as a separate component of AOCI in the consolidated statements of change shareholders’ equity.
Share-based Compensation	The Company is authorized to issue restricted shares, restricted stock units, performance units, stock options, stock appreciation rights and other equity-based awards to its employees and directors. The Company's plan includes share-settled and cash-settled service and performance awards. The fair value of share-settled and cash-settled service and performance awards is based on the market value of the Company's common share measured at the grant date and is expensed over the requisite service period. Compensation expense associated with share-settled and cash-settled performance awards is also subject to periodic adjustment based on the achievement of established performance criteria during the applicable performance period. The fair value of the cash-settled service and performance awards is recognized as a liability in the consolidated balance sheets and is remeasured at the end of each reporting period. The Company recognizes forfeitures when they occur.
Derivative Instruments	The Company may enter into derivative instruments such as futures, options, interest rate swaps and foreign currency forward contracts as part of its overall foreign currency risk management strategy, to obtain exposure to a particular financial market or for yield enhancement. During 2013, the Company began to write derivative based risk management products designed to address weather and commodity price risks, with the objective of generating profits on a portfolio basis. Effective July 1, 2017, the Company ceased writing derivative-based risk management products which address weather risks. From time to time the Company may also enter into insurance and reinsurance contracts that meet the Financial Accounting Standards Board's ("FASB") definition of a derivative contract. The Company measures all derivative instruments at fair value (refer to Note 6 ' Fair Value Measurements ') and recognizes these instruments as either assets or liabilities in the consolidated balance sheets. Subsequent changes in fair value and any realized gains or losses are recognized in the consolidated statements of operations.
Goodwill and Intangible Assets	The Company recognizes goodwill and other intangible assets in connection with certain acquisitions. Goodwill represents the excess of the purchase price paid over the fair value of the net assets acquired in these acquisitions and is not amortized. Other intangible assets with a finite life are amortized over the estimated useful live of the intangible asset. Other intangible assets with an indefinite life are not amortized. The Company tests goodwill and indefinite intangible assets for potential impairment during the fourth quarter each year and between annual tests if an event occurs or changes in circumstances indicate that the asset is impaired. Such events or circumstances may include an economic downturn in a geographic market or a change in the assessment of future operations. For the purpose of evaluating goodwill for impairment, the Company may first perform a qualitative assessment to determine whether it is necessary to perform a quantitative goodwill impairment test. If determined to be necessary, the quantitative test compares the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired. If the carrying amount of the reporting unit exceeds the fair value, an impairment loss is recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. For the purpose of evaluating indefinite lived intangibles for impairment, the Company may first perform a qualitative assessment to determine whether it is necessary to perform the quantitative impairment test. If the Company elects to perform a qualitative assessment, it first assesses qualitative factors to determine whether it is more likely than not that an indefinite lived intangible asset is impaired. If the Company determines that it is not more likely than not that the indefinite lived intangible asset is impaired, the Company performs the quantitative impairment test. For the purposes of evaluating goodwill and indefinite lived intangible assets for impairment, the Company has an unconditional option to bypass the qualitative assessment in any period and proceed directly to performing the quantitative impairment test. The Company may resume performing the qualitative assessment in any subsequent period. For other definite lived intangible asset the Company tests for recoverability whenever events or changes in circumstances indicate its carrying amount may not be recoverable. The Company recognizes an impairment loss if the carrying amount of the asset is not recoverable and exceeds its fair value. The carrying amount of a definite lived intangible asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If goodwill or an intangible asset is impaired, the carrying value of the asset is reduced to fair value and a corresponding expense is recorded in the consolidated statements of operations.
Income Taxes	Certain subsidiaries and branches of the Company operate in jurisdictions where they are subject to taxation. Current and deferred income taxes are charged or credited to net income, or in certain cases to AOCI, based on enacted tax laws and rates applicable in the relevant jurisdiction in the period in which the tax becomes accruable or realizable. Deferred income taxes are provided for all temporary differences between the bases of assets and liabilities used in the consolidated balance sheets and those used in the various jurisdictional tax returns. When the assessment indicates that it is more likely than not that a portion of a deferred tax asset will not be realized in the foreseeable future, a valuation allowance against deferred tax assets is recorded. The Company recognizes the tax benefits of uncertain tax positions only when the position is more-likely-than-not to be sustained on audit by the relevant taxing authorities.
Treasury Shares	Common shares repurchased by the Company and not subsequently canceled are classified as treasury shares and are recorded at cost. This results in a reduction of shareholders’ equity in the consolidated balance sheets. The Company uses the average cost method to determine the cost of shares reissued from treasury.
New Accounting Standards Adopted, Recently Issued Accounting Standards Not Yet Adopted	Leases Effective January 1, 2019, the Company adopted ASU 2016-02, "Leases (Topic 842)," which provides a new comprehensive model for lease accounting. Topic 842 requires a lessee to recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. The adoption of this standard resulted in the recognition of lease liabilities and right-of-use assets of $150 million in the Company's consolidated balance sheet at January 1, 2019 , which are related to office property and equipment leases. In addition, the Company adopted ASU 2018-11, "Leases (Topic 842) - Targeted Improvements, " which provides an additional (and optional) transition method to adopt the new lease guidance. Under the alternative transition method, the Company's reporting for the comparative periods presented in its financial statements will be in accordance with the pre-effective date lease accounting requirements (Topic 840). The Company also elected the package of practical expedients permitted under the transition guidance of Topic 842, which were elected as a package and applied consistently to all leases. At the adoption date, the package of practical expedients permitted the Company to not reassess the following: 1. whether any expired or existing contracts are or contain leases; 2. the lease classification for any expired or existing leases; and 3. initial direct costs for any existing leases. In addition to electing the package of practical expedients, the Company made an accounting policy election to account for non-lease components separately from lease components. As a result, the non-lease components associated with the Company's leases are not included in the lease liabilities and right-of-use assets in the Company's consolidated balance sheet at December 31, 2019 . Further, the Company made an accounting policy election to not record office property and equipment leases with an initial term of 12 months or less (short-term) in the Company's consolidated balance sheets. For the year ended December 31, 2019 , the Company recognized expenses for short-term leases of $1.1 million in the Company's consolidated statements of operations. The adoption of this guidance did not impact the Company's retained earnings or liquidity and it did not have a material impact on the Company's results of operations. Premium Amortization on Purchased Callable Debt Securities Effective January 1, 2019, the Company adopted ASU 2017-08, "Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20) - Premium Amortization on Purchased Callable Debt Securities," which shortens the amortization period for certain purchased callable debt securities held at a premium. The adoption of this guidance did not impact the Company's results of operations, financial condition or liquidity. Changes to Disclosures on Fair Value Measurement Effective January 1, 2019, the Company adopted ASU 2018-13, "Fair Value Measurement (Topic 820) - Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement, " which aims to improve the effectiveness of fair value measurement disclosures. The adoption of this guidance did not impact the Company's results of operations, financial condition, or liquidity. m) Recently Issued Accounting Standards Not Yet Adopted Measurement of Credit Losses on Financial Instrument In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments, " which replaces the "incurred loss" impairment methodology with an approach based on "expected losses" to estimate credit losses on certain types of financial instruments and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The Company's mortgage loans, held for investment, insurance and reinsurance premium balances receivable and its reinsurance recoverables on unpaid and paid losses and loss expenses are its more significant financial assets within the scope of ASU 2016-13. The guidance requires financial assets to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the cost of the financial asset to present the net carrying value at the amount expected to be collected on the financial asset. This guidance is effective for interim and annual periods beginning after December 15, 2019. The Company does not anticipate that the adoption of this guidance will have a material impact on its results of operations, financial condition or liquidity. The Company will also be impacted by the targeted changes to the impairment model for available for sale securities introduced in ASU 2016-13. Credit losses relating to available for sale debt securities will be recorded through an allowance for credit losses. This guidance is effective for interim and annual periods beginning after December 15, 2019. The Company is currently evaluating the impact of this guidance on its results of operations, financial condition and liquidity.

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
UNDERWRITING RESULTS OF REPORTABLE SEGMENTS	The following tables present the underwriting results of the Company's reportable segments, as well as the carrying amounts of allocated goodwill and intangible assets: At and year ended December 31, 2019 Insurance Reinsurance Total Gross premiums written $ 3,675,931 $ 3,222,927 $ 6,898,858 Net premiums written 2,209,155 2,280,460 4,489,615 Net premiums earned 2,190,084 2,397,094 4,587,178 Other insurance related income 2,858 13,586 16,444 Net losses and loss expenses (1,278,679 ) (1,766,119 ) (3,044,798 ) Acquisition costs (468,281 ) (556,301 ) (1,024,582 ) General and administrative expenses (401,963 ) (103,772 ) (505,735 ) Underwriting income (loss) $ 44,019 $ (15,512 ) $ 28,507 Net investment income 478,572 Net investment gains 91,233 Corporate expenses (129,096 ) Foreign exchange gains 12,041 Interest expense and financing costs (68,107 ) Reorganization expenses (37,384 ) Amortization of value of business acquired (26,722 ) Amortization of intangible assets (11,597 ) Income before income taxes and interest in income (loss) of equity method investments $ 337,447 Net losses and loss expenses ratio 58.4 % 73.7 % 66.4 % Acquisition cost ratio 21.4 % 23.2 % 22.3 % General and administrative expense ratio 18.3 % 4.3 % 13.9 % Combined ratio 98.1 % 101.2 % 102.6 % Goodwill and intangible assets $ 332,553 $ — $ 332,553 At and year ended December 31, 2018 Insurance Reinsurance Total Gross premiums written $ 3,797,592 $ 3,112,473 $ 6,910,065 Net premiums written 2,324,747 2,334,215 4,658,962 Net premiums earned 2,362,606 2,428,889 4,791,495 Other insurance related income 3,460 7,162 10,622 Net losses and loss expenses (1,494,323 ) (1,695,964 ) (3,190,287 ) Acquisition costs (399,193 ) (569,642 ) (968,835 ) General and administrative expenses (395,252 ) (123,916 ) (519,168 ) Underwriting income $ 77,298 $ 46,529 $ 123,827 Net investment income 438,507 Net investment losses (150,218 ) Corporate expenses (108,221 ) Foreign exchange gains 29,165 Interest expense and financing costs (67,432 ) Reorganization expenses (66,940 ) Amortization of value of business acquired (172,332 ) Amortization of intangible assets (13,814 ) Income before income taxes and interest in income (loss) of equity method investments $ 12,542 Net losses and loss expenses ratio 63.2 % 69.8 % 66.6 % Acquisition cost ratio 16.9 % 23.5 % 20.2 % General and administrative expense ratio 16.8 % 5.1 % 13.1 % Combined ratio 96.9 % 98.4 % 99.9 % Goodwill and intangible assets $ 343,571 $ — $ 343,571 At and year ended December 31, 2017 Insurance Reinsurance Total Gross premiums written $ 2,814,918 $ 2,741,355 $ 5,556,273 Net premiums written 1,775,825 2,251,318 4,027,143 Net premiums earned 1,816,438 2,332,322 4,148,760 Other insurance related income (losses) 2,944 (4,184 ) (1,240 ) Net losses and loss expenses (1,465,427 ) (1,822,345 ) (3,287,772 ) Acquisition costs (270,229 ) (553,362 ) (823,591 ) General and administrative expenses (325,368 ) (124,115 ) (449,483 ) Underwriting loss $ (241,642 ) $ (171,684 ) $ (413,326 ) Net investment income 400,805 Net investment gains 28,226 Corporate expenses (129,945 ) Foreign exchange losses (134,737 ) Interest expense and financing costs (54,811 ) Bargain purchase gain 15,044 Transaction and reorganization expenses (26,718 ) Amortization of value of business acquired (50,104 ) Amortization of intangible assets (2,543 ) Loss before income taxes and interest in income (loss) of equity method investments $ (368,109 ) Net losses and loss expenses ratio 80.7 % 78.1 % 79.2 % Acquisition cost ratio 14.9 % 23.7 % 19.9 % General and administrative expense ratio 17.9 % 5.3 % 14.0 % Combined ratio 113.5 % 107.1 % 113.1 % Goodwill and intangible assets $ 359,990 $ — $ 359,990
GROSS PREMIUMS WRITTEN BY GEOGRAPHICAL LOCATION OF SUBSIDIARIES	The following table presents gross premiums written by the geographical location of the Company's subsidiaries: Years ended December 31, 2019 2018 2017 Bermuda $ 738,258 $ 606,452 $ 529,425 Ireland 1,679,646 1,805,882 1,569,956 U.S. 3,090,547 2,811,537 2,814,933 Lloyd's of London 1,390,407 1,686,194 641,959 Gross premiums written $ 6,898,858 $ 6,910,065 $ 5,556,273
NET PREMIUMS EARNED BY SEGMENT AND LINE OF BUSINESS	The following table presents net premiums earned by segment and line of business: Years ended December 31, 2019 2018 2017 Insurance Property $ 633,550 $ 796,945 $ 543,342 Marine 281,764 300,944 181,533 Terrorism 47,345 49,150 36,084 Aviation 55,028 74,203 75,107 Credit and political risk 91,698 102,825 56,432 Professional lines 661,250 570,241 519,759 Liability 264,667 229,373 188,770 Accident and health 144,499 207,777 199,121 Discontinued lines - Novae 10,283 31,148 16,290 Total Insurance 2,190,084 2,362,606 1,816,438 Reinsurance Catastrophe 267,591 250,016 209,470 Property 311,625 317,038 304,376 Professional lines 206,328 220,687 226,622 Credit and surety 208,717 250,276 244,186 Motor 398,565 438,693 371,501 Liability 373,664 363,292 351,940 Agriculture 188,925 176,435 195,391 Engineering 63,899 67,932 66,291 Marine and other 59,209 35,570 64,449 Accident and health 319,619 299,813 289,925 Discontinued lines - Novae (1,048 ) 9,137 8,171 Total Reinsurance 2,397,094 2,428,889 2,332,322 Total $ 4,587,178 $ 4,791,495 $ 4,148,760

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF GOODWILL AND INTANGIBLE ASSETS	The table below provides details of goodwill and intangible assets related to the Company's insurance segment: Goodwill Intangible assets with an indefinite life Intangible assets with a finite life Total Balance at December 31, 2017 Gross amount $ 42,237 $ 26,036 $ 23,030 $ 91,303 Accumulated amortization n/a n/a (11,165 ) (11,165 ) Accumulated translation adjustment 4,911 — — 4,911 47,148 26,036 11,865 85,049 Acquired during the year 54,855 94,748 387,545 537,148 Amortization n/a n/a (55,369 ) (55,369 ) Balance at December 31, 2018 Gross amount 97,092 120,784 410,575 628,451 Accumulated amortization n/a n/a (66,534 ) (66,534 ) Accumulated translation adjustment 4,911 — — 4,911 102,003 120,784 344,041 566,828 Amortization n/a n/a (184,043 ) (184,043 ) Impairment charges — — (3,500 ) (3,500 ) Balance at December 31, 2019 Gross amount $ 97,092 $ 120,784 $ 404,304 $ 622,180 Accumulated amortization n/a n/a (247,804 ) (247,804 ) Accumulated translation adjustment 4,911 — — 4,911 102,003 120,784 156,500 379,287 Amortization n/a n/a (37,742 ) (37,742 ) $ 102,003 $ 120,784 $ 118,758 $ 341,545 n/a – not applicable
SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS	The tables below provide details of the gross amount and accumulated amortization by category of VOBA and intangible assets: VOBA and intangible assets Balance At December 31, 2019 Gross amount Accumulated amortization Total U.S. state licenses $ 26,036 n/a $ 26,036 Customer lists, trademark and non-compete - Media Pro (1) 9,700 (9,700 ) — Customer relationships and customers lists - Ternian (2) 13,330 (6,333 ) 6,997 VOBA - Novae 256,942 (247,950 ) 8,992 Syndicate capacity 94,748 n/a 94,748 Coverholders 63,565 (11,918 ) 51,647 Large brokers 46,641 (6,996 ) 39,645 SME brokers 14,126 (2,649 ) 11,477 $ 525,088 $ (285,546 ) $ 239,542 (1) On May 1, 2007, the Company acquired the assets and operations of Media/Professional Insurance (Media/Pro) and recognized the definite life intangible assets detailed above. (2) On April 1, 2015, the Company completed its acquisition of Ternian Insurance Group LLC and recognized definite life intangible assets detailed above. VOBA and intangible assets Balance At December 31, 2018 Gross amount Accumulated amortization and impairment Total U.S. state licenses $ 26,036 n/a $ 26,036 Customer lists, trademark and non-compete - Media Pro 9,700 (9,598 ) 102 Customer relationships and customers lists - Ternian 13,330 (4,999 ) 8,331 VOBA - Aviabel 2,140 (2,140 ) — VOBA - Novae 256,942 (221,228 ) 35,714 Syndicate capacity 94,748 n/a 94,748 Coverholders 63,565 (6,622 ) 56,943 Large brokers 46,641 (3,888 ) 42,753 SME brokers 14,126 (1,471 ) 12,655 MGA contract (1) 4,131 (4,131 ) — $ 531,359 $ (254,077 ) $ 277,282 (1) During the year ended December 31, 2018, an impairment charge of $3,500 was recognized related to the termination of the MGA contract intangible asset identified in connection with the acquisition of Novae.
SCHEDULE OF INDEFINITE-LIVED INTANGIBLE ASSETS	The tables below provide details of the gross amount and accumulated amortization by category of VOBA and intangible assets: VOBA and intangible assets Balance At December 31, 2019 Gross amount Accumulated amortization Total U.S. state licenses $ 26,036 n/a $ 26,036 Customer lists, trademark and non-compete - Media Pro (1) 9,700 (9,700 ) — Customer relationships and customers lists - Ternian (2) 13,330 (6,333 ) 6,997 VOBA - Novae 256,942 (247,950 ) 8,992 Syndicate capacity 94,748 n/a 94,748 Coverholders 63,565 (11,918 ) 51,647 Large brokers 46,641 (6,996 ) 39,645 SME brokers 14,126 (2,649 ) 11,477 $ 525,088 $ (285,546 ) $ 239,542 (1) On May 1, 2007, the Company acquired the assets and operations of Media/Professional Insurance (Media/Pro) and recognized the definite life intangible assets detailed above. (2) On April 1, 2015, the Company completed its acquisition of Ternian Insurance Group LLC and recognized definite life intangible assets detailed above. VOBA and intangible assets Balance At December 31, 2018 Gross amount Accumulated amortization and impairment Total U.S. state licenses $ 26,036 n/a $ 26,036 Customer lists, trademark and non-compete - Media Pro 9,700 (9,598 ) 102 Customer relationships and customers lists - Ternian 13,330 (4,999 ) 8,331 VOBA - Aviabel 2,140 (2,140 ) — VOBA - Novae 256,942 (221,228 ) 35,714 Syndicate capacity 94,748 n/a 94,748 Coverholders 63,565 (6,622 ) 56,943 Large brokers 46,641 (3,888 ) 42,753 SME brokers 14,126 (1,471 ) 12,655 MGA contract (1) 4,131 (4,131 ) — $ 531,359 $ (254,077 ) $ 277,282 (1) During the year ended December 31, 2018, an impairment charge of $3,500 was recognized related to the termination of the MGA contract intangible asset identified in connection with the acquisition of Novae.
FUTURE AMORTIZATION EXPENSE	The table below provides details of estimated amortization expense of VOBA and intangible assets with a finite life: VOBA Intangible assets Total 2020 5,139 10,916 16,055 2021 3,853 10,916 14,769 2022 — 10,916 10,916 2023 — 10,916 10,916 2024 — 10,916 10,916 2025 and thereafter — 55,186 55,186 Total remaining amortization expense 8,992 109,766 118,758 Indefinite lived intangible assets — 120,784 120,784 Total intangible assets $ 8,992 $ 230,550 $ 239,542

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
AMORTIZED COST/COST AND FAIR VALUES OF FIXED MATURITIES AND EQUITIES	The following table provides the amortized cost and fair values of the Company's fixed maturities classified as available for sale: Amortized Gross Gross Fair At December 31, 2019 Fixed maturities U.S. government and agency $ 2,102,849 $ 16,345 $ (6,313 ) $ 2,112,881 Non-U.S. government 564,505 14,535 (2,448 ) 576,592 Corporate debt 4,797,384 140,426 (7,556 ) 4,930,254 Agency RMBS (1) 1,570,823 25,215 (3,454 ) 1,592,584 CMBS (2) 1,340,156 29,838 (4,942 ) 1,365,052 Non-Agency RMBS 84,381 1,393 (852 ) 84,922 ABS (3) 1,599,867 4,706 (5,880 ) 1,598,693 Municipals (4) 203,275 4,359 (407 ) 207,227 Total fixed maturities $ 12,263,240 $ 236,817 $ (31,852 ) $ 12,468,205 At December 31, 2018 Fixed maturities U.S. government and agency $ 1,520,142 $ 4,232 $ (8,677 ) $ 1,515,697 Non-U.S. government 507,550 1,586 (16,120 ) 493,016 Corporate debt 4,990,279 15,086 (128,444 ) 4,876,921 Agency RMBS (1) 1,666,684 6,508 (29,884 ) 1,643,308 CMBS (2) 1,103,507 2,818 (13,795 ) 1,092,530 Non-Agency RMBS 40,732 1,237 (1,282 ) 40,687 ABS (3) 1,651,350 1,493 (15,240 ) 1,637,603 Municipals (4) 136,068 914 (1,397 ) 135,585 Total fixed maturities $ 11,616,312 $ 33,874 $ (214,839 ) $ 11,435,347 (1) Residential mortgage-backed securities ("RMBS") originated by U.S. government-sponsored agencies. (2) Commercial mortgage-backed securities ("CMBS"). (3) Asset-backed securities ("ABS") include debt tranched securities collateralized primarily by auto loans, student loans, credit card receivables and collateralized loan obligations ("CLOs"). (4) Municipals include bonds issued by states, municipalities and political subdivisions.
EQUITY SECURITIES	The following table provides the cost and fair values of the Company's equity securities: Cost Gross Gross Fair At December 31, 2019 Equity securities Common stocks $ 504 $ 77 $ (388 ) $ 193 Exchange-traded funds 215,986 81,444 (105 ) 297,325 Bond mutual funds 182,466 — (5,777 ) 176,689 Total equity securities $ 398,956 $ 81,521 $ (6,270 ) $ 474,207 At December 31, 2018 Equity securities Common stocks $ 790 $ 112 $ (375 ) $ 527 Exchange-traded funds 213,420 33,498 (10,079 ) 236,839 Bond mutual funds 151,695 — (7,428 ) 144,267 Total equity securities $ 365,905 $ 33,610 $ (17,882 ) $ 381,633
CONTRACTUAL MATURITIES OF FIXED MATURITIES	The table below provides the contractual maturities of fixed maturities: Amortized cost Fair value % of Total fair value At December 31, 2019 Maturity Due in one year or less $ 438,881 $ 443,228 3.6 % Due after one year through five years 4,810,202 4,884,837 39.2 % Due after five years through ten years 2,091,486 2,157,157 17.3 % Due after ten years 327,444 341,732 2.7 % 7,668,013 7,826,954 62.8 % Agency RMBS 1,570,823 1,592,584 12.8 % CMBS 1,340,156 1,365,052 10.9 % Non-Agency RMBS 84,381 84,922 0.7 % ABS 1,599,867 1,598,693 12.8 % Total $ 12,263,240 $ 12,468,205 100.0 % At December 31, 2018 Maturity Due in one year or less $ 430,390 $ 426,142 3.7 % Due after one year through five years 4,751,064 4,691,263 41.0 % Due after five years through ten years 1,762,452 1,697,737 14.8 % Due after ten years 210,133 206,077 1.8 % 7,154,039 7,021,219 61.3 % Agency RMBS 1,666,684 1,643,308 14.4 % CMBS 1,103,507 1,092,530 9.6 % Non-Agency RMBS 40,732 40,687 0.4 % ABS 1,651,350 1,637,603 14.3 % Total $ 11,616,312 $ 11,435,347 100.0 %
FIXED MATURITIES AND EQUITIES IN AN UNREALIZED LOSS POSITION	The following table summarizes fixed maturities and equity securities in an unrealized loss position and the aggregate fair value and gross unrealized loss by length of time the security has continuously been in an unrealized loss position: 12 months or greater Less than 12 months Total Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses At December 31, 2019 Fixed maturities U.S. government and agency $ 9,536 $ (67 ) $ 614,705 $ (6,246 ) $ 624,241 $ (6,313 ) Non-U.S. government 99,466 (2,036 ) 18,361 (412 ) 117,827 (2,448 ) Corporate debt 121,635 (3,847 ) 375,858 (3,709 ) 497,493 (7,556 ) Agency RMBS 195,395 (1,816 ) 326,402 (1,638 ) 521,797 (3,454 ) CMBS 24,281 (64 ) 364,641 (4,878 ) 388,922 (4,942 ) Non-Agency RMBS 6,345 (792 ) 25,816 (60 ) 32,161 (852 ) ABS 535,780 (4,667 ) 404,641 (1,213 ) 940,421 (5,880 ) Municipals 5,418 (34 ) 46,684 (373 ) 52,102 (407 ) Total fixed maturities $ 997,856 $ (13,323 ) $ 2,177,108 $ (18,529 ) $ 3,174,964 $ (31,852 ) At December 31, 2018 Fixed maturities U.S. government and agency $ 374,030 $ (7,659 ) $ 424,439 $ (1,018 ) $ 798,469 $ (8,677 ) Non-U.S. government 44,339 (2,004 ) 303,376 (14,116 ) 347,715 (16,120 ) Corporate debt 1,439,378 (58,915 ) 2,547,135 (69,529 ) 3,986,513 (128,444 ) Agency RMBS 940,645 (29,255 ) 117,181 (629 ) 1,057,826 (29,884 ) CMBS 455,582 (11,430 ) 353,802 (2,365 ) 809,384 (13,795 ) Non-Agency RMBS 9,494 (1,170 ) 11,432 (112 ) 20,926 (1,282 ) ABS 237,237 (2,755 ) 1,150,692 (12,485 ) 1,387,929 (15,240 ) Municipals 68,814 (1,373 ) 9,894 (24 ) 78,708 (1,397 ) Total fixed maturities $ 3,569,519 $ (114,561 ) $ 4,917,951 $ (100,278 ) $ 8,487,470 $ (214,839 )
MORTGAGE LOANS NET OF VALUATION ALLOWANCE	The following table provides details of the Company's mortgage loans held-for-investment: December 31, 2019 December 31, 2018 Carrying value % of Total Carrying value % of Total Mortgage Loans held-for-investment: Commercial $ 432,748 100 % $ 298,650 100 % Total Mortgage Loans held-for-investment $ 432,748 100 % $ 298,650 100 %
PORTFOLIO OF OTHER INVESTMENTS	The following table provides a summary of the Company's other investments, together with additional information relating to the liquidity of each category: Fair value Redemption frequency (if currently eligible) Redemption notice period At December 31, 2019 Long/short equity funds $ 31,248 4 % Annually 60 days Multi-strategy funds 136,542 18 % Quarterly, Semi-annually 60-90 days Direct lending funds 277,395 36 % n/a n/a Private equity funds 80,412 10 % n/a n/a Real estate funds 130,112 17 % n/a n/a CLO-Equities 14,328 2 % n/a n/a Other privately held investments 36,934 5 % n/a n/a Overseas deposits 63,952 8 % n/a n/a Total other investments $ 770,923 100 % At December 31, 2018 Long/short equity funds $ 26,779 3 % Annually 60 days Multi-strategy funds 167,819 22 % Quarterly, Semi-annually, Annually 45-95 days Direct lending funds 274,478 35 % n/a n/a Private equity funds 64,566 8 % n/a n/a Real estate funds 84,202 11 % n/a n/a CLO-Equities 21,271 2 % n/a n/a Other privately held investments 44,518 6 % n/a n/a Overseas deposits 104,154 13 % n/a n/a Total other investments $ 787,787 100 % n/a – not applicable
NET INVESTMENT INCOME	Net investment income was derived from the following sources: Year ended December 31, 2019 2018 2017 Fixed maturities $ 384,053 $ 356,273 $ 312,662 Other investments 60,038 48,959 76,858 Equity securities 10,434 10,077 14,919 Mortgage loans 14,712 13,566 10,780 Cash and cash equivalents 26,882 27,566 10,057 Short-term investments 7,053 9,365 2,718 Gross investment income 503,172 465,806 427,994 Investment expenses (24,600 ) (27,299 ) (27,189 ) Net investment income $ 478,572 $ 438,507 $ 400,805
NET REALIZED INVESTMENT GAINS (LOSSES)	The following table provides an analysis of net investment gains (losses): Year ended December 31, 2019 2018 2017 Gross realized investment gains Fixed maturities and short-term investments $ 93,160 $ 46,067 $ 72,046 Equity securities 3,449 20,435 78,343 Gross realized investment gains 96,609 66,502 150,389 Gross realized investment losses Fixed maturities and short-term investments (56,515 ) (142,153 ) (98,442 ) Equity securities (323 ) (3,389 ) (959 ) Gross realized investment losses (56,838 ) (145,542 ) (99,401 ) Net OTTI charge recognized in net income (6,984 ) (9,733 ) (14,493 ) Change in fair value of investment derivatives (1) (1,823 ) 5,445 (8,269 ) Net unrealized gains (losses) on equity securities (2) 60,269 (66,890 ) — Net investment gains (losses) $ 91,233 $ (150,218 ) $ 28,226 (1) Refer to Note 7 'Derivative Instruments' (2) Effective January 1, 2018, the Company adopted ASU No. 2016-01 which requires the change in fair value of equity securities to be recognized in net income.
OTTI RECOGNIZED IN EARNINGS BY ASSET CLASS	The following table summarizes the OTTI charge recognized in net income by asset class: Year ended December 31, 2019 2018 2017 Fixed maturities: Non-U.S. government $ 90 $ 4,697 $ 8,187 Corporate debt 6,894 4,995 6,306 Non-Agency CMBS — 41 — Total OTTI recognized in net income $ 6,984 $ 9,733 $ 14,493
RESTRICTED INVESTMENTS	The table below provides the fair values of the Company's restricted investments and cash: At December 31, 2019 2018 Collateral in Trust for inter-company agreements $ 1,580,689 $ 2,121,522 Collateral for secured letter of credit facility 473,187 470,051 Funds at Lloyd's 1,314,345 1,307,945 Collateral in Trust for third-party agreements 1,856,327 1,510,416 Securities on deposit with regulatory authorities 76,229 64,360 Total restricted investments $ 5,300,777 $ 5,474,294

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
FINANCIAL INSTRUMENTS MEASURED AT FAIR VALUE ON A RECURRING BASIS	The tables below present the financial instruments measured at fair value on a recurring basis for the periods indicated: Quoted prices in active markets Significant other observable Significant unobservable inputs (Level 3) Fair value based on NAV practical expedient Total fair value At December 31, 2019 Assets Fixed maturities U.S. government and agency $ 2,053,622 $ 59,259 $ — $ — $ 2,112,881 Non-U.S. government — 576,592 — — 576,592 Corporate debt — 4,927,957 2,297 — 4,930,254 Agency RMBS — 1,592,584 — — 1,592,584 CMBS — 1,359,817 5,235 — 1,365,052 Non-Agency RMBS — 84,922 — — 84,922 ABS — 1,598,204 489 — 1,598,693 Municipals — 207,227 — — 207,227 2,053,622 10,406,562 8,021 — 12,468,205 Equity securities Common stocks 193 — — — 193 Exchange-traded funds 297,325 — — — 297,325 Bond mutual funds — 176,689 — — 176,689 297,518 176,689 — — 474,207 Other investments Hedge funds (1) — — — 167,790 167,790 Direct lending funds — — — 277,395 277,395 Private equity funds — — — 80,412 80,412 Real estate funds — — — 130,112 130,112 Other privately held investments — — 36,934 — 36,934 CLO-Equities — — 14,328 — 14,328 Overseas deposits — 63,952 — — 63,952 — 63,952 51,262 655,709 770,923 Short-term investments — 38,471 — — 38,471 Other assets Derivative instruments (refer to Note 7) — 3,174 — — 3,174 Total Assets $ 2,351,140 $ 10,688,848 $ 59,283 $ 655,709 $ 13,754,980 Liabilities Derivative instruments (refer to Note 7) $ — $ 3,965 $ 9,672 $ — $ 13,637 Cash settled awards (refer to Note 16) — 21,731 — — 21,731 Total Liabilities $ — $ 25,696 $ 9,672 $ — $ 35,368 (1) Includes Long/short equity and Multi-strategy funds. Quoted prices in active markets Significant other observable Significant unobservable inputs (Level 3) Fair value based on NAV practical expedient Total fair value At December 31, 2018 Assets Fixed maturities U.S. government and agency $ 1,480,466 $ 35,231 $ — $ — $ 1,515,697 Non-U.S. government — 493,016 — — 493,016 Corporate debt — 4,827,909 49,012 — 4,876,921 Agency RMBS — 1,643,308 — — 1,643,308 CMBS — 1,073,396 19,134 — 1,092,530 Non-Agency RMBS — 40,687 — — 40,687 ABS — 1,619,070 18,533 — 1,637,603 Municipals — 135,585 — — 135,585 1,480,466 9,868,202 86,679 — 11,435,347 Equity securities Common stocks 527 — — — 527 Exchange-traded funds 236,839 — — — 236,839 Bond mutual funds — 144,267 — — 144,267 237,366 144,267 — — 381,633 Other investments Hedge funds (1) — — — 194,598 194,598 Direct lending funds — — — 274,478 274,478 Private equity funds — — — 64,566 64,566 Real estate funds — — — 84,202 84,202 Other privately held investments — — 44,518 — 44,518 CLO-Equities — — 21,271 — 21,271 Overseas deposits — 104,154 — — 104,154 — 104,154 65,789 617,844 787,787 Short-term investments — 144,040 — — 144,040 Other assets Derivative instruments (refer to Note 7) — 8,237 — — 8,237 Total Assets $ 1,717,832 $ 10,268,900 $ 152,468 $ 617,844 $ 12,757,044 Liabilities Derivative instruments (refer to Note 7) $ — $ 4,223 $ 10,299 $ — $ 14,522 Cash settled awards (refer to Note 16) — 20,648 — — 20,648 Total Liabilities $ — $ 24,871 $ 10,299 $ — $ 35,170 (1) Includes Long/short equity and Multi-strategy funds.
LEVEL 3 FAIR VALUE MEASUREMENT INPUTS	The following table quantifies the significant unobservable inputs used in estimating fair values at December 31, 2019 of investments classified as Level 3 in the fair value hierarchy: Fair value Valuation technique Unobservable input Range Weighted average Other investments - CLO-Equities $ 14,328 Discounted cash flow Default rates 3.5% 3.5% Loss severity rate 35.0% 35.0% Collateral spreads 3.0% 3.0% Estimated maturity dates 7 years 7 years Derivatives - Other underwriting-related derivatives $ (9,672 ) Discounted cash flow Discount rate 1.8% 1.8% Note: Fixed maturities and insurance-linked securities that are classified as Level 3 of $8 million are excluded from the above table as these securities are priced using broker-dealer quotes. In addition, other privately held investments of $37 million that are classified as Level 3 are excluded from the above table as these investments are priced using capital statements received from investee companies.
CHANGES IN LEVEL 3 FINANCIAL INSTRUMENTS MEASURED AT FAIR VALUE ON A RECURRING BASIS, ASSETS	The following table presents changes in Level 3 for financial instruments measured at fair value on a recurring basis: Opening balance Transfers into Level 3 Transfers out of Level 3 Included in net income (1) Included in OCI (2) Purchases Sales Settlements/ distributions Closing balance Change in unrealized gains/losses (3) Year ended December 31, 2019 Fixed maturities Corporate debt $ 49,012 $ — $ — $ 4,790 $ (4,168 ) $ — $ (6,068 ) $ (41,269 ) $ 2,297 $ — CMBS 19,134 — (7,077 ) — 142 — — (6,964 ) 5,235 — ABS 18,533 — (18,230 ) — 186 — — — 489 — 86,679 — (25,307 ) 4,790 (3,840 ) — (6,068 ) (48,233 ) 8,021 — Other investments Other privately held investments 44,518 — — 18,092 — 22,500 (48,176 ) — 36,934 5,150 CLO-Equities 21,271 — — (199 ) — — — (6,744 ) 14,328 (199 ) 65,789 — — 17,893 — 22,500 (48,176 ) (6,744 ) 51,262 4,951 Other assets Insurance-linked securities — — — — — — — — — — — — — — — — — — — — Total assets $ 152,468 $ — $ (25,307 ) $ 22,683 $ (3,840 ) $ 22,500 $ (54,244 ) $ (54,977 ) $ 59,283 $ 4,951 Other liabilities Derivative instruments 10,299 — — (627 ) — — — — 9,672 (627 ) Total liabilities $ 10,299 $ — $ — $ (627 ) $ — $ — $ — $ — $ 9,672 $ (627 ) Year ended December 31, 2018 Fixed maturities Corporate debt $ 52,897 $ 2,935 $ (4,279 ) $ (591 ) $ 6,343 $ 10,267 $ (7,446 ) $ (11,114 ) $ 49,012 $ — CMBS — 5,096 — — (145 ) 17,200 — (3,017 ) 19,134 — ABS — 1,979 — — (446 ) 17,000 — — 18,533 — 52,897 10,010 (4,279 ) (591 ) 5,752 44,467 (7,446 ) (14,131 ) 86,679 — Other investments Other privately held investments 46,430 — — (913 ) — 3,110 (4,109 ) — 44,518 (913 ) CLO-Equities 31,413 — — 6,627 — — — (16,769 ) 21,271 6,627 77,843 — — 5,714 — 3,110 (4,109 ) (16,769 ) 65,789 5,714 Other assets Insurance-linked securities 25,090 — — (90 ) — — — (25,000 ) — — 25,090 — — (90 ) — — — (25,000 ) — — Total assets $ 155,830 $ 10,010 $ (4,279 ) $ 5,033 $ 5,752 $ 47,577 $ (11,555 ) $ (55,900 ) $ 152,468 $ 5,714 Other liabilities Derivative instruments 11,510 — — (1,211 ) — — — — 10,299 (1,211 ) Total liabilities $ 11,510 $ — $ — $ (1,211 ) $ — $ — $ — $ — $ 10,299 $ (1,211 ) (1) Realized gains (losses) on fixed maturities, and realized and unrealized gains (losses) on other assets and other liabilities included in net income are included in net investment gains (losses). Realized and unrealized gains (losses) on other investments included in net income are included in net investment income. (2) Unrealized gains (losses) on fixed maturities are included in other comprehensive income ("OCI"). (3) Change in unrealized gains (losses) relating to assets held at the reporting date.
CHANGES IN LEVEL 3 FINANCIAL INSTRUMENTS MEASURED AT FAIR VALUE ON A RECURRING BASIS, LIABILITIES	The following table presents changes in Level 3 for financial instruments measured at fair value on a recurring basis: Opening balance Transfers into Level 3 Transfers out of Level 3 Included in net income (1) Included in OCI (2) Purchases Sales Settlements/ distributions Closing balance Change in unrealized gains/losses (3) Year ended December 31, 2019 Fixed maturities Corporate debt $ 49,012 $ — $ — $ 4,790 $ (4,168 ) $ — $ (6,068 ) $ (41,269 ) $ 2,297 $ — CMBS 19,134 — (7,077 ) — 142 — — (6,964 ) 5,235 — ABS 18,533 — (18,230 ) — 186 — — — 489 — 86,679 — (25,307 ) 4,790 (3,840 ) — (6,068 ) (48,233 ) 8,021 — Other investments Other privately held investments 44,518 — — 18,092 — 22,500 (48,176 ) — 36,934 5,150 CLO-Equities 21,271 — — (199 ) — — — (6,744 ) 14,328 (199 ) 65,789 — — 17,893 — 22,500 (48,176 ) (6,744 ) 51,262 4,951 Other assets Insurance-linked securities — — — — — — — — — — — — — — — — — — — — Total assets $ 152,468 $ — $ (25,307 ) $ 22,683 $ (3,840 ) $ 22,500 $ (54,244 ) $ (54,977 ) $ 59,283 $ 4,951 Other liabilities Derivative instruments 10,299 — — (627 ) — — — — 9,672 (627 ) Total liabilities $ 10,299 $ — $ — $ (627 ) $ — $ — $ — $ — $ 9,672 $ (627 ) Year ended December 31, 2018 Fixed maturities Corporate debt $ 52,897 $ 2,935 $ (4,279 ) $ (591 ) $ 6,343 $ 10,267 $ (7,446 ) $ (11,114 ) $ 49,012 $ — CMBS — 5,096 — — (145 ) 17,200 — (3,017 ) 19,134 — ABS — 1,979 — — (446 ) 17,000 — — 18,533 — 52,897 10,010 (4,279 ) (591 ) 5,752 44,467 (7,446 ) (14,131 ) 86,679 — Other investments Other privately held investments 46,430 — — (913 ) — 3,110 (4,109 ) — 44,518 (913 ) CLO-Equities 31,413 — — 6,627 — — — (16,769 ) 21,271 6,627 77,843 — — 5,714 — 3,110 (4,109 ) (16,769 ) 65,789 5,714 Other assets Insurance-linked securities 25,090 — — (90 ) — — — (25,000 ) — — 25,090 — — (90 ) — — — (25,000 ) — — Total assets $ 155,830 $ 10,010 $ (4,279 ) $ 5,033 $ 5,752 $ 47,577 $ (11,555 ) $ (55,900 ) $ 152,468 $ 5,714 Other liabilities Derivative instruments 11,510 — — (1,211 ) — — — — 10,299 (1,211 ) Total liabilities $ 11,510 $ — $ — $ (1,211 ) $ — $ — $ — $ — $ 10,299 $ (1,211 ) (1) Realized gains (losses) on fixed maturities, and realized and unrealized gains (losses) on other assets and other liabilities included in net income are included in net investment gains (losses). Realized and unrealized gains (losses) on other investments included in net income are included in net investment income. (2) Unrealized gains (losses) on fixed maturities are included in other comprehensive income ("OCI"). (3)

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
LOCATION AND AMOUNTS OF DERIVATIVE FAIR VALUES ON THE CONSOLIDATED BALANCE SHEET	The following table provides the balance sheet classifications of derivatives recorded at fair value: At December 31, 2019 At December 31, 2018 Derivative notional amount Asset derivative fair value (1) Liability derivative fair value (1) Derivative notional amount Asset derivative fair value (1) Liability derivative fair value (1) Relating to investment portfolio: Foreign exchange forward contracts $ 68,998 $ — $ 1,405 $ 79,336 $ 262 $ 531 Interest rate swaps — — — 150,000 — 1,116 Relating to underwriting portfolio: Foreign exchange forward contracts 1,038,630 3,174 2,560 737,419 7,975 2,576 Other underwriting-related contracts 85,000 — 9,672 85,000 — 10,299 Total derivatives $ 3,174 $ 13,637 $ 8,237 $ 14,522 (1) Asset and liability derivatives are classified within other assets and other liabilities in the consolidated balance sheets.
RECONCILIATION OF GROSS DERIVATIVE ASSETS TO NET AMOUNTS PRESENTED IN BALANCE SHEETS	The following table provides a reconciliation of gross derivative assets and liabilities to the net amounts presented in the consolidated balance sheets, with the difference being attributable to the impact of master netting agreements: December 31, 2019 December 31, 2018 Gross amounts Gross amounts offset Net amounts (1) Gross amounts Gross amounts offset Net amounts (1) Derivative assets $ 7,673 $ (4,499 ) $ 3,174 $ 11,967 $ (3,730 ) $ 8,237 Derivative liabilities $ 18,136 $ (4,499 ) $ 13,637 $ 18,252 $ (3,730 ) $ 14,522 (1) Net asset and liability derivatives are classified within other assets and other liabilities in the consolidated balance sheets.
RECONCILIATION OF GROSS DERIVATIVE LIABILITIES TO NET AMOUNTS PRESENTED IN BALANCE SHEETS	The following table provides a reconciliation of gross derivative assets and liabilities to the net amounts presented in the consolidated balance sheets, with the difference being attributable to the impact of master netting agreements: December 31, 2019 December 31, 2018 Gross amounts Gross amounts offset Net amounts (1) Gross amounts Gross amounts offset Net amounts (1) Derivative assets $ 7,673 $ (4,499 ) $ 3,174 $ 11,967 $ (3,730 ) $ 8,237 Derivative liabilities $ 18,136 $ (4,499 ) $ 13,637 $ 18,252 $ (3,730 ) $ 14,522 (1) Net asset and liability derivatives are classified within other assets and other liabilities in the consolidated balance sheets.
TOTAL UNREALIZED AND REALIZED GAINS (LOSSES) ON DERIVATIVES NOT DESIGNATED AS HEDGES RECORDED IN EARNINGS	The following table provides the total unrealized and realized gains (losses) recognized in net income for derivatives not designated as hedges: Location of gain (loss) recognized in net income Amount of gain (loss) recognized in net income 2019 2018 2017 Relating to investment portfolio: Foreign exchange forward contracts Net investment gains (losses) $ 1,854 $ 3,446 $ (6,935 ) Interest rate swaps Net investment gains (losses) (3,677 ) 1,999 (1,334 ) Relating to underwriting portfolio: Foreign exchange forward contracts Foreign exchange gains (losses) (10,678 ) (3,509 ) 25,383 Weather-related contracts Other insurance related income (losses) — — (9,629 ) Other underwriting-related contracts Other insurance related income 1,789 2,384 1,476 Total $ (10,712 ) $ 4,320 $ 8,961

RESERVE FOR LOSSES AND LOSS E_2

RESERVE FOR LOSSES AND LOSS EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2019
Insurance Loss Reserves [Abstract]
SCHEDULE OF THE LINES OF BUSINESS CATEGORIES AND THE EXPECTED CLAIM TAILS	The following tables map the Company's lines of business to reserve classes and the expected claim tails: Insurance segment Reserve class and tail Property and other Marine Aviation Credit and political risk Professional lines Liability Short Short Short/Medium Medium Medium Long Reported lines of business Property X Marine X Terrorism X Aviation X Credit and political risk X Professional lines X Liability X Accident and health X Discontinued lines - Novae X X X Reinsurance segment Reserve class and tail Property and other Credit and surety Professional lines Motor Liability Short Medium Medium Long Long Reported lines of business Catastrophe X Property X Credit and surety X Professional lines X Motor X Liability X Engineering X Agriculture X Marine and other X Accident and health X Discontinued lines - Novae X X X
COMPONENTS OF RESERVE FOR LOSSES AND LOSS EXPENSES	Reserve for losses and loss expenses comprise the following: At December 31, 2019 2018 Reserve for reported losses and loss expenses $ 4,860,916 $ 4,626,204 Reserve for losses incurred but not reported 7,891,165 7,654,565 Reserve for losses and loss expenses $ 12,752,081 $ 12,280,769
RECONCILIATION OF BEGINNING AND ENDING GROSS RESERVE FOR LOSSES AND LOSS EXPENSES AND NET RESERVE FOR UNPAID LOSSES AND LOSS EXPENSES	The following table presents a reconciliation of the Company's beginning and ending gross reserves for losses and loss expenses and net reserves for unpaid losses and loss expenses: Year ended December 31, 2019 2018 2017 Gross reserve for losses and loss expenses, beginning of year $ 12,280,769 $ 12,997,553 $ 9,697,827 Less reinsurance recoverable on unpaid losses, beginning of year (3,501,669 ) (3,159,514 ) (2,276,109 ) Net reserve for unpaid losses and loss expenses, beginning of year 8,779,100 9,838,039 7,421,718 Net incurred losses and loss expenses related to: Current year 3,123,698 3,389,949 3,487,826 Prior years (78,900 ) (199,662 ) (200,054 ) 3,044,798 3,190,287 3,287,772 Net paid losses and loss expenses related to: Current year (598,988 ) (724,199 ) (703,796 ) Prior years (2,371,637 ) (2,368,615 ) (1,880,882 ) (2,970,625 ) (3,092,814 ) (2,584,678 ) Foreign exchange and other 21,052 (1,156,412 ) 1,713,227 Net reserve for unpaid losses and loss expenses, end of year 8,874,325 8,779,100 9,838,039 Reinsurance recoverable on unpaid losses, end of year 3,877,756 3,501,669 3,159,514 Gross reserve for losses and loss expenses, end of year $ 12,752,081 $ 12,280,769 $ 12,997,553
NET PRIOR YEAR RESERVE DEVELOPMENT BY SEGMENT	The following table presents net prior year reserve development by segment: Insurance Reinsurance Total Year ended December 31, 2019 $ 53,302 $ 25,598 $ 78,900 Year ended December 31, 2018 92,806 106,856 199,662 Year ended December 31, 2017 60,459 139,595 200,054
NET INCURRED AND PAID CLAIMS DEVELOPMENT TABLES BY ACCIDENT YEAR	Reinsurance motor Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2019 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 100,219 $ 107,538 $ 108,183 $ 107,264 $ 101,343 $ 96,235 $ 86,803 $ 83,112 $ 80,901 $ 80,028 $ 21,660 2011 158,475 162,069 166,112 172,062 168,225 159,626 148,536 143,846 136,077 18,030 2012 180,137 170,848 159,446 151,899 147,041 137,585 134,685 126,507 15,534 2013 164,927 162,475 150,620 141,237 137,791 135,003 126,050 13,828 2014 185,279 186,947 182,237 179,510 174,719 171,403 6,302 2015 225,974 222,178 226,319 227,844 216,610 12,291 2016 249,616 268,525 270,264 259,959 21,855 2017 370,778 380,509 362,721 50,597 2018 363,917 363,733 83,024 2019 339,476 165,127 Total $ 2,182,564 Reinsurance motor Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 7,201 $ 12,601 $ 18,149 $ 21,713 $ 25,153 $ 29,429 $ 32,717 $ 33,769 $ 34,839 $ 37,041 2011 23,943 47,991 62,861 73,562 80,349 86,466 91,165 92,201 94,155 2012 29,381 53,959 68,970 78,880 85,488 89,646 91,982 93,194 2013 34,133 54,274 68,502 78,744 84,512 90,165 93,234 2014 43,628 75,543 95,563 103,909 114,300 124,157 2015 58,231 95,172 115,903 133,528 149,813 2016 61,321 106,934 131,606 150,004 2017 72,859 137,217 168,855 2018 84,564 145,561 2019 90,291 Total 1,146,305 All outstanding liabilities before 2010, net of reinsurance 193,345 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 1,229,604 Insurance liability Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2019 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Cumulative number of reported claims Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 79,398 $ 94,222 $ 98,642 $ 98,853 $ 100,133 $ 98,529 $ 105,438 $ 104,465 $ 104,042 $ 107,420 $ 12,287 4,029 2011 72,580 75,329 83,925 87,770 85,792 84,079 82,312 82,657 85,036 14,042 3,571 2012 70,887 71,683 74,134 71,474 68,658 75,697 72,727 67,237 18,015 3,188 2013 93,233 95,306 95,174 88,241 93,681 95,981 91,941 16,997 3,568 2014 107,133 124,303 129,764 130,672 132,019 131,474 22,710 4,865 2015 128,437 127,353 137,568 165,073 183,088 43,822 6,225 2016 124,323 130,188 128,911 127,528 53,401 7,068 2017 162,446 166,573 183,793 76,834 6,710 2018 168,146 167,614 95,288 5,454 2019 191,121 165,431 3,714 Total $ 1,336,252 Insurance liability Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 1,030 $ 15,977 $ 30,800 $ 53,594 $ 61,044 $ 66,129 $ 71,803 $ 86,454 $ 88,007 $ 88,476 2011 2,761 10,540 20,190 38,377 46,074 54,996 60,261 62,150 67,114 2012 1,663 5,514 15,411 30,145 37,139 42,740 46,540 48,034 2013 2,359 23,280 33,319 42,049 60,004 66,963 71,982 2014 1,414 18,640 49,836 71,595 84,374 93,574 2015 5,438 22,392 39,637 92,664 120,216 2016 6,319 23,280 36,385 56,446 2017 5,439 29,564 59,356 2018 9,027 35,612 2019 7,337 Total 648,147 All outstanding liabilities before 2010, net of reinsurance 50,617 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 738,722 Insurance professional lines Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2019 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Cumulative number of reported claims Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 232,002 $ 237,156 $ 234,655 $ 206,406 $ 183,237 $ 158,729 $ 180,704 $ 167,917 $ 187,464 $ 185,116 $ 17,194 5,698 2011 313,520 315,326 333,914 326,663 330,773 343,911 352,309 352,792 350,066 28,007 7,229 2012 328,397 375,164 376,603 375,549 362,534 364,443 353,182 351,283 34,964 8,326 2013 383,432 396,819 398,059 364,851 354,190 356,261 334,398 49,144 9,439 2014 412,523 411,232 421,093 391,952 371,407 353,994 76,580 9,802 2015 377,129 376,865 382,679 357,646 344,239 87,707 10,453 2016 349,030 351,990 358,368 359,813 105,971 11,763 2017 378,746 397,760 437,528 197,748 13,418 2018 361,490 374,683 217,867 15,584 2019 399,585 348,212 11,747 Total $ 3,490,705 Insurance professional lines Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 7,807 $ 27,806 $ 53,493 $ 72,592 $ 88,558 $ 99,039 $ 109,540 $ 114,520 $ 136,510 $ 142,788 2011 7,402 32,897 74,461 108,598 165,806 238,401 283,510 294,678 302,151 2012 7,818 41,328 100,089 184,191 230,913 253,958 273,383 281,715 2013 17,690 73,077 129,671 175,835 213,225 242,860 263,325 2014 23,529 70,662 130,039 192,405 223,838 242,899 2015 20,197 67,725 137,738 169,555 203,542 2016 15,859 71,245 147,370 192,459 2017 20,946 71,779 139,143 2018 20,091 81,986 2019 25,911 Total 1,875,919 All outstanding liabilities before 2010, net of reinsurance 65,486 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 1,680,272 Insurance property and other Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2019 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Cumulative number of reported claims Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 173,118 $ 155,512 $ 148,126 $ 122,897 $ 117,406 $ 116,477 $ 116,172 $ 115,712 $ 114,614 $ 114,355 $ 684 4,423 2011 348,001 327,787 307,305 286,896 283,852 282,663 283,096 281,389 280,491 (18 ) 6,350 2012 391,031 400,995 383,228 363,171 358,598 352,879 352,048 342,017 497 29,931 2013 309,937 299,498 272,642 268,704 268,350 278,790 275,074 1,505 53,191 2014 360,874 355,495 344,878 329,251 328,252 326,638 3,990 62,356 2015 278,554 270,793 259,725 255,392 252,560 4,077 48,424 2016 351,075 377,820 369,508 356,353 6,011 93,717 2017 885,486 829,016 808,602 2,992 697,983 2018 721,266 759,300 41,900 705,592 2019 429,987 113,754 445,460 Total $ 3,945,377 Insurance property and other Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 48,995 $ 87,604 $ 95,726 $ 106,531 $ 110,745 $ 110,819 $ 110,612 $ 110,656 $ 110,990 $ 110,970 2011 85,346 193,949 250,251 272,530 271,483 271,287 271,960 272,402 272,372 2012 77,461 213,961 277,909 300,845 308,368 313,529 313,602 315,703 2013 75,831 198,955 237,714 248,746 259,787 262,819 264,607 2014 132,872 259,679 306,221 313,360 317,697 318,866 2015 99,120 202,649 227,237 241,586 242,270 2016 123,640 289,711 329,709 338,243 2017 253,400 628,364 744,285 2018 284,651 577,243 2019 187,430 Total 3,371,989 All outstanding liabilities before 2010, net of reinsurance 6,225 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 579,613 Insurance aviation Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2019 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Cumulative number of reported claims Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 12,917 $ 11,698 $ 11,420 $ 9,745 $ 8,766 $ 8,695 $ 8,741 $ 8,525 $ 8,868 $ 8,836 $ 48 663 2011 17,724 15,391 12,781 9,555 8,424 7,277 7,234 7,192 6,952 118 4,202 2012 12,793 10,677 10,801 8,718 7,769 7,712 7,599 7,392 83 2,857 2013 15,652 16,330 15,205 15,249 15,585 15,470 16,763 255 3,017 2014 20,435 23,033 24,349 21,789 21,847 19,088 493 3,529 2015 29,782 28,502 29,833 29,567 27,512 299 4,140 2016 29,173 33,502 33,658 31,723 606 4,062 2017 55,581 62,035 66,896 3,747 4,272 2018 57,990 63,753 6,841 4,258 2019 42,360 11,632 2,305 Total $ 291,275 Insurance aviation Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 1,032 $ 4,126 $ 6,309 $ 6,883 $ 7,548 $ 7,666 $ 8,109 $ 8,198 $ 8,391 $ 8,574 2011 639 2,822 4,513 5,030 5,564 5,814 6,035 6,177 6,222 2012 954 2,861 4,152 5,948 6,831 7,053 7,166 7,102 2013 4,400 7,328 9,749 11,450 13,560 14,167 14,487 2014 3,988 8,023 11,692 13,849 14,485 14,848 2015 8,085 16,159 20,959 23,217 24,676 2016 10,412 19,279 26,259 27,820 2017 21,105 40,159 50,642 2018 21,442 40,368 2019 16,856 Total 211,595 All outstanding liabilities before 2010, net of reinsurance 7,260 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 86,940 Insurance credit and political risk Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2019 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Cumulative number of reported claims Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 62,415 $ 63,179 $ 63,259 $ 65,597 $ 64,980 $ 65,014 $ 72,104 $ 90,888 $ 99,423 $ 99,633 $ 339 6 2011 58,154 48,665 47,706 48,361 48,333 45,036 33,609 27,904 27,904 268 4 2012 32,602 15,672 12,435 12,447 10,322 46 198 198 155 4 2013 26,439 25,684 9,759 9,880 14,942 14,067 12,377 4,070 1 2014 38,825 70,713 67,109 68,324 69,589 71,274 2,822 6 2015 30,329 30,368 27,524 26,012 25,930 2,621 2 2016 45,391 44,891 42,401 42,972 18,275 1 2017 36,751 34,765 28,209 17,808 3 2018 47,215 36,618 12,576 1 2019 50,609 33,702 5 Total $ 395,724 Insurance credit and political risk Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 50,000 $ 85,418 $ 90,729 $ 106,768 $ 101,789 $ 101,951 $ 102,157 $ 102,203 $ 102,522 $ 101,262 2011 32,788 37,205 27,636 27,636 27,636 27,636 27,636 27,636 27,636 2012 — — — — 39 41 43 43 2013 745 2,235 3,726 5,216 11,769 13,828 13,828 2014 1,924 39,952 61,108 57,858 57,858 64,050 2015 — 23,309 23,309 23,309 23,309 2016 — 24,697 24,697 24,697 2017 1,523 5,593 11,019 2018 4,937 13,545 2019 15,528 Total 294,917 All outstanding liabilities before 2010, net of reinsurance (2,588 ) Liabilities for claims and claim adjustment expenses, net of reinsurance $ 98,219 Reinsurance liability Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2019 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 172,823 $ 171,775 $ 183,347 $ 183,715 $ 202,007 $ 190,921 $ 181,962 $ 165,983 $ 159,230 $ 156,113 $ 13,119 2011 172,189 172,201 173,984 191,668 197,766 194,604 193,784 191,873 189,014 16,614 2012 166,386 162,945 167,366 172,341 173,501 170,979 164,309 158,342 16,994 2013 171,271 175,174 182,201 184,240 183,915 177,112 157,236 24,545 2014 199,433 202,939 204,657 200,557 199,340 197,187 53,905 2015 214,735 215,099 216,061 215,889 213,662 67,030 2016 240,440 245,820 250,868 254,154 99,784 2017 276,929 270,589 279,172 133,392 2018 264,570 268,506 168,425 2019 263,525 214,542 Total $ 2,136,911 Reinsurance liability Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 2,479 $ 17,652 $ 46,199 $ 62,287 $ 83,792 $ 97,430 $ 108,748 $ 119,678 $ 128,386 $ 130,566 2011 5,197 21,291 40,009 70,083 92,477 112,347 123,403 135,627 141,483 2012 3,541 12,800 28,384 58,777 78,235 101,164 115,618 125,979 2013 5,971 22,235 52,328 69,055 88,262 102,593 113,127 2014 7,083 28,661 48,420 70,138 89,412 109,974 2015 7,270 27,455 54,517 80,865 108,961 2016 11,874 37,703 69,558 111,870 2017 12,438 42,147 78,477 2018 19,303 49,795 2019 19,157 Total 989,389 All outstanding liabilities before 2010, net of reinsurance 80,768 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 1,228,290 Insurance marine Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2019 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Cumulative number of reported claims Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 68,519 $ 70,314 $ 66,359 $ 53,458 $ 51,482 $ 48,618 $ 47,226 $ 45,482 $ 45,064 $ 44,696 $ 262 3,197 2011 90,776 78,807 72,875 65,973 65,921 66,156 68,318 69,011 68,330 976 3,830 2012 89,712 83,138 69,075 71,211 72,238 74,797 73,002 62,447 2,718 4,134 2013 79,578 100,757 96,164 97,250 82,487 82,073 81,070 1,174 2,353 2014 59,686 44,576 48,586 44,420 46,030 47,574 4,249 2,163 2015 160,063 141,317 137,180 129,914 117,587 3,079 2,228 2016 86,386 78,762 76,511 71,161 4,020 2,841 2017 173,222 170,775 166,796 27,726 3,976 2018 182,232 191,005 45,347 4,232 2019 169,381 94,818 3,525 Total $ 1,020,047 Insurance marine Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 18,017 $ 28,603 $ 33,296 $ 42,325 $ 45,159 $ 45,944 $ 46,918 $ 43,286 $ 43,372 $ 43,377 2011 26,453 44,274 55,029 58,132 59,976 60,689 65,000 67,046 67,523 2012 10,708 38,594 44,884 49,631 50,448 52,841 54,863 55,950 2013 18,856 43,958 54,777 63,034 65,717 76,753 76,900 2014 6,357 15,179 26,905 26,930 36,020 40,895 2015 21,433 54,958 108,312 111,212 112,617 2016 12,487 31,817 57,314 63,333 2017 14,515 68,411 92,773 2018 25,153 84,834 2019 35,449 Total 673,651 All outstanding liabilities before 2010, net of reinsurance 4,296 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 350,692 Reinsurance property and other Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2019 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 614,748 $ 601,243 $ 570,057 $ 581,838 $ 584,942 $ 578,740 $ 570,796 $ 568,725 $ 567,879 $ 566,112 $ 3,070 2011 1,111,563 1,116,669 1,116,042 1,084,197 1,067,100 1,041,136 1,039,379 1,040,759 1,041,771 7,782 2012 555,459 523,208 507,619 476,989 461,152 456,127 457,531 454,281 2,860 2013 578,725 560,658 529,856 509,526 503,539 503,026 499,736 1,904 2014 542,601 560,775 534,618 522,102 520,299 519,529 40,234 2015 477,301 464,588 459,487 454,225 450,182 6,030 2016 616,621 635,164 622,331 618,643 11,017 2017 1,076,967 1,081,415 1,107,597 75,459 2018 882,829 1,008,505 166,887 2019 959,771 729,042 Total $ 7,226,127 Reinsurance property and other Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 116,132 $ 311,052 $ 404,287 $ 434,908 $ 480,734 $ 509,769 $ 534,590 $ 540,312 $ 542,590 $ 546,691 2011 251,855 587,047 794,575 893,746 923,166 996,481 1,011,283 1,013,858 1,019,917 2012 122,823 294,298 366,968 389,373 403,926 413,594 415,634 428,152 2013 107,628 324,839 441,138 471,380 481,066 482,480 483,105 2014 102,356 352,883 434,769 452,193 458,350 463,342 2015 71,477 265,896 368,698 400,980 413,477 2016 128,126 376,920 520,779 563,781 2017 252,360 723,826 868,458 2018 195,707 648,622 2019 161,293 Total 5,596,838 All outstanding liabilities before 2010, net of reinsurance 14,757 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 1,644,046 Reinsurance credit and surety Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2019 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 119,180 $ 99,460 $ 92,848 $ 90,029 $ 85,856 $ 78,247 $ 76,937 $ 74,913 $ 73,672 $ 71,911 $ 1,751 2011 120,572 106,495 104,616 111,485 109,662 101,236 99,412 98,885 95,813 2,439 2012 159,507 147,627 150,137 147,406 139,097 131,120 127,576 124,552 3,883 2013 164,207 152,467 143,719 139,886 135,762 124,533 124,674 3,546 2014 136,419 135,525 142,703 139,015 127,683 126,397 6,726 2015 160,132 165,861 160,675 156,635 137,848 8,335 2016 141,639 141,128 148,943 123,366 9,849 2017 135,040 132,618 126,786 22,830 2018 111,692 120,289 38,357 2019 74,689 39,291 Total $ 1,126,325 Reinsurance credit and surety Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 28,190 $ 48,274 $ 59,074 $ 59,804 $ 61,466 $ 62,585 $ 64,020 $ 65,024 $ 65,346 $ 65,781 2011 22,411 53,392 69,851 77,392 81,930 84,106 86,419 87,799 88,615 2012 49,482 85,228 99,046 104,876 108,391 110,150 111,441 113,402 2013 32,399 76,743 91,486 98,039 105,692 107,555 112,520 2014 35,552 61,076 85,984 95,079 102,670 107,082 2015 32,907 81,685 99,774 116,756 118,670 2016 42,028 73,201 92,187 101,822 2017 37,295 73,944 90,495 2018 38,990 68,505 2019 19,281 Total 886,173 All outstanding liabilities before 2010, net of reinsurance 16,847 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 256,999 Reinsurance professional lines Incurred claims and allocated claim adjustment expenses, net of reinsurance At December 31, 2019 For the years ended December 31, Total of incurred-but-not-reported liabilities plus expected development on reported claims Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 209,934 $ 210,173 $ 211,361 $ 214,417 $ 214,185 $ 196,939 $ 189,415 $ 179,762 $ 166,044 $ 167,376 $ 5,701 2011 201,013 201,364 202,620 211,367 209,088 208,219 200,437 177,405 166,951 6,047 2012 209,548 216,088 221,544 223,926 222,626 212,594 213,984 206,791 18,318 2013 209,292 214,396 215,562 213,745 213,182 205,733 181,563 35,871 2014 219,376 219,415 219,345 219,242 233,611 230,042 27,940 2015 212,031 212,024 214,344 225,139 231,980 63,050 2016 195,190 196,293 200,020 227,952 67,496 2017 155,137 155,759 162,116 72,727 2018 146,387 148,921 132,683 2019 139,150 130,571 Total $ 1,862,842 Reinsurance professional lines Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance For the years ended December 31, Accident year 2010 unaudited 2011 unaudited 2012 unaudited 2013 unaudited 2014 unaudited 2015 unaudited 2016 unaudited 2017 unaudited 2018 unaudited 2019 2010 $ 1,757 $ 12,026 $ 31,243 $ 52,138 $ 76,798 $ 107,363 $ 123,981 $ 130,610 $ 138,047 $ 142,994 2011 1,510 11,822 30,272 57,230 84,845 103,052 119,767 130,059 136,492 2012 778 10,392 29,622 53,629 85,972 107,224 131,853 145,866 2013 1,064 12,073 30,491 64,958 81,630 104,904 123,282 2014 2,019 13,073 48,854 74,577 109,239 147,194 2015 3,134 13,505 41,539 79,296 112,042 2016 1,768 20,534 52,617 95,283 2017 2,813 14,921 39,915 2018 271 2,593 2019 335 Total 945,996 All outstanding liabilities before 2010, net of reinsurance 52,321 Liabilities for claims and claim adjustment expenses, net of reinsurance $ 969,167
AVERAGE ANNUAL PERCENTAGE PAYOUT OF INCURRED CLAIMS BY AGE, NET OF REINSURANCE	Insurance aviation Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 24.8% 27.4% 19.4% 10.4% 8.1% 2.7% 2.9% 0.7% 1.4% 2.1% Reinsurance professional lines Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 0.8% 5.5% 12.4% 15.1% 14.2% 13.8% 10.5% 5.7% 4.2% 3.0% Reinsurance property and other Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 20.9% 40.8% 18.8% 6.2% 3.3% 3.1% 1.6% 1.3% 0.5% 0.7% Insurance marine Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 21.1% 29.2% 21.3% 7.7% 5.7% 6.1% 3.0% (1.1)% 0.5% —% Reinsurance motor Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 22.3% 16.4% 10.1% 6.9% 5.5% 4.7% 3.0% 1.0% 1.4% 2.8% Reinsurance credit and surety Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 30.2% 28.8% 14.6% 6.6% 3.9% 2.1% 2.4% 1.5% 0.7% 0.6% Insurance credit and political risk Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 22.6% 33.6% 4.0% 3.4% 11.3% 5.3% 0.3% —% 0.2% (1.3)% Insurance property and other Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 35.0% 40.9% 13.7% 5.5% 1.9% 0.6% 0.2% 0.3% 0.2% —% Insurance liability Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 3.1% 12.9% 13.8% 19.3% 11.8% 7.6% 5.7% 6.0% 3.6% 0.4% Reinsurance liability Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 4.1% 9.6% 13.2% 13.7% 12.2% 10.6% 7.2% 6.7% 4.4% 1.4% Insurance professional lines Average annual percentage payout of incurred claims by age, net of reinsurance (unaudited) Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 4.7% 12.8% 16.6% 13.9% 11.4% 9.5% 7.6% 2.8% 7.0% 3.4%
RECONCILIATION OF DEVELOPMENT TABLES TO CONSOLIDATED BALANCE SHEET	The following table reconciles the reserve for losses and loss expenses at December 31, 2019 included in the loss development tables to the reserve for losses and loss expenses reported in the consolidated balance sheet: Reconciliation of the disclosure of incurred and paid claims development to the liability for unpaid claims and claim adjustment expenses At December 31, 2019 Net outstanding liabilities Reinsurance recoverable on unpaid claims Gross outstanding liabilities Insurance segment Property and other $ 579,613 $ 358,193 $ 937,806 Marine 350,692 164,005 514,697 Aviation 86,940 36,094 123,034 Credit and political risk 98,219 34,615 132,834 Professional lines 1,680,272 1,105,684 2,785,956 Liability 738,722 1,108,382 1,847,104 Total insurance segment 3,534,458 2,806,973 6,341,431 Reinsurance segment Property and other 1,644,046 448,885 2,092,931 Credit and surety 256,999 64,475 321,474 Professional lines 969,167 135,505 1,104,672 Motor 1,229,604 209,495 1,439,099 Liability 1,228,290 212,423 1,440,713 Total reinsurance segment 5,328,106 1,070,783 6,398,889 Total $ 8,862,564 $ 3,877,756 12,740,320 Unallocated claims adjustment expenses 140,650 Foreign exchange and other (1) 27,202 (Ceded)/assumed reserves related to retroactive transactions (156,091 ) Total liability for unpaid claims and claims adjustment expense $ 12,752,081 (1) Non-U.S. dollar denominated loss data is converted to U.S dollar at the rates of exchange in effect at the balance sheet date for material underlying currencies. Fluctuations in currency exchange rates may cause material shifts in loss development. Reserves for losses and loss expenses disclosed in the consolidated balance sheets are also remeasured using rates of exchange in effect at the balance sheet date.

REINSURANCE (Tables)

REINSURANCE (Tables)	12 Months Ended
	Dec. 31, 2019
Reinsurance Disclosures [Abstract]
BREAKDOWN OF GROSS AND NET PREMIUMS WRITTEN AND EARNED	The following table presents gross and net premiums written and earned: Year ended December 31, 2019 2018 2017 Premiums written Premiums earned Premiums written Premiums earned Premiums written Premiums earned Gross $ 6,898,858 $ 6,910,677 $ 6,910,065 $ 6,882,217 $ 5,556,273 $ 5,616,234 Ceded (2,409,243 ) (2,323,499 ) (2,251,103 ) (2,090,722 ) (1,529,130 ) (1,467,474 ) Net $ 4,489,615 $ 4,587,178 $ 4,658,962 $ 4,791,495 $ 4,027,143 $ 4,148,760

DEBT AND FINANCING ARRANGEMEN_2

DEBT AND FINANCING ARRANGEMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
SCHEDULE OF DEBT	The following table summarizes the Company's debt: Year ended December 31, 2019 2018 5.875% Senior Notes $ 499,687 $ 498,967 2.650% Senior Notes (1) — 249,885 5.150% Senior Notes 246,491 246,425 4.000% Senior Notes 346,997 346,684 3.900% Senior Notes 295,339 — Junior Subordinated Notes 419,643 — Total Debt $ 1,808,157 $ 1,341,961 (1) On April 1, 2019, AXIS Specialty Finance PLC, a 100% owned finance subsidiary, repaid $250 million aggregate principal amount of 2.650% Senior Notes at their stated maturity. The tables below provide the key terms of the Company's debt: Description Issuance Date Aggregate Principal Issue Price Net Proceeds Maturity Date 5.875% Senior Notes March 23, 2010 500,000 99.624 % 495,000 June 1, 2020 5.150% Senior Notes March 13, 2014 250,000 99.474 % 246,000 April 1, 2045 4.000% Senior Notes December 6, 2017 350,000 99.780 % 347,000 December 6, 2027 3.900% Senior Notes June 19, 2019 300,000 99.360 % 296,000 July 15, 2029 Junior Subordinated Notes December 10, 2019 425,000 99.000 % 420,750 January 15, 2040 Description Interest Rate Interest Payments Due 5.875% Senior Notes 5.875 % Semi-annually in arrears on June 1 and December 1 of each year 5.150% Senior Notes 5.150 % Semi-annually in arrears on April 1 and October 1 of each year 4.000% Senior Notes 4.000 % Semi-annually in arrears on June 6 and December 6 of each year 3.900% Senior Notes 3.900 % Semi-annually in arrears on January 15 and July 15 of each year Junior Subordinated Notes (2) 4.900 % Semi-annually on January 15 and July 15 of each year (2) The Junior Notes accrue interest from the date of issuance to, but excluding, January 15, 2030 (the "Par Call Date") at the fixed rate of 4.900% and from, and including, the Par Call Date, at a rate equal to the Five-Year Treasury Rate as of the Reset Interest Determination Date, plus 3.186% . Interest of the Junior Notes is payable semi-annually on January 15 and July 15 of each year, beginning on July 15, 2020.
SCHEDULED DEBT MATURITY	The following table provides the scheduled maturity of the Company's debt obligations at December 31, 2019 : Year ended December 31, 2020 $ 500,000 2021 — 2022 — 2023 — 2024 — After 2024 1,325,000 Unamortized discount and debt issuance expenses (16,843 ) Total senior notes and notes payable $ 1,808,157

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2019
Leases [Abstract]
SUMMARY OF LEASE EXPENSE AND RELATED CASH FLOWS	The following table presents the Company’s total lease expense and the cash flows arising from lease transactions: Year ended December 31, 2019 Lease cost: Operating lease expense $ 27,549 Short-term lease expense (1) 1,132 Sublease income (2) (1,144 ) Total lease expense $ 27,537 Other information: Operating cash outflows from operating leases $ 25,004 Right-of-use assets obtained in exchange for new operating lease liabilities $ — Weighted-average remaining lease term - operating leases (3) 9.0 years Weighted-average discount rate - operating lease (4) 4.7 % (1) Short-term lease expense is recognized on a straight-line basis over the lease term. (2) Sublease income largely relates to office property in London, England. (3) Weighted-average remaining lease term was calculated on the basis of the remaining lease term and the lease liability balance for each lease at the reporting date. (4) Weighted-average discount was calculated on the basis of the discount rate for the lease that was used to calculate the lease liability balance for each lease at the reporting date and the remaining balance of the lease payments for each lease at the reporting date.
MATURITY SCHEDULE AND MINIMUM LEASE PAYMENTS	The following table presents the scheduled maturity of the Company's operating lease liabilities at December 31, 2019 : Expected Year ended December 31, Cash Flows 2020 $ 19,225 2021 19,129 2022 20,049 2023 16,641 2024 11,006 Later years 58,562 Discount (29,028 ) Total discounted operating lease liabilities $ 115,584
SCHEDULE OF FUTURE MINIMUM RENTAL PAYMENTS FOR OPERATING LEASES	The following table presents the Company's future minimum lease payments at December 31, 2018 : Year ended December 31, 2019 $ 28,240 2020 25,331 2021 27,025 2022 28,012 2023 23,801 Later years 118,497 Total future minimum lease payments $ 250,906

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
BASIC AND DILUTED EARNINGS PER COMMON SHARE	The following table presents a comparison of earnings (loss) per common share and earnings (loss) per diluted common share: At and year ended December 31, 2019 2018 2017 Earnings (loss) per common share Net income (loss) $ 323,473 $ 43,021 $ (368,969 ) Less: Preferred share dividends 41,112 42,625 46,810 Net income (loss) available (attributable) to common shareholders $ 282,361 $ 396 $ (415,779 ) Weighted average common shares outstanding 83,894 83,501 84,108 Earnings (loss) per common share $ 3.37 $ — $ (4.94 ) Earnings (loss) per diluted common share Net income (loss) available (attributable) to common shareholders $ 282,361 $ 396 $ (415,779 ) Weighted average common shares outstanding 83,894 83,501 84,108 Share-based compensation plans (1) 579 506 — Weighted average diluted common shares outstanding (1) 84,473 84,007 84,108 Earnings (loss) per diluted common share $ 3.34 $ — $ (4.94 ) Weighted average anti-dilutive shares excluded from the dilutive computation 154 245 702 (1) Due to the net loss recognized for the year ended December 31, 2017, the share equivalents were anti-dilutive.

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
COMMON SHARES ISSUED AND OUTSTANDING	The following table presents changes in common shares issued and outstanding: Year ended December 31, 2019 2018 2017 Shares issued, balance at beginning of year 176,580 176,580 176,580 Shares issued — — — Total shares issued at end of year 176,580 176,580 176,580 Treasury shares, balance at beginning of year (92,994 ) (93,419 ) (90,139 ) Shares repurchased (176 ) (200 ) (4,288 ) Shares reissued 549 625 1,008 Total treasury shares at end of year (92,621 ) (92,994 ) (93,419 ) Total shares outstanding 83,959 83,586 83,161
SHARE REPURCHASES	The following table presents common shares repurchased from shares held in Treasury: Year ended December 31, 2019 2018 2017 In the open market: Total shares — — 3,932 Total cost $ — $ — $ 261,180 Average price per share (1) $ — $ — $ 66.43 From employees: (2) Total shares 176 200 356 Total cost $ 10,165 $ 10,080 $ 24,678 Average price per share (1) $ 57.66 $ 50.40 $ 69.36 Total shares repurchased: Total shares 176 200 4,288 Total cost $ 10,165 $ 10,080 $ 285,858 Average price per share (1) $ 57.66 $ 50.40 $ 66.67 (1) Calculated using whole numbers. (2) Shares are repurchased from employees to satisfy withholding tax liabilities that arise on the vesting of share-settled restricted stock units.
SUMMARY OF DIVIDENDS DECLARED AND PAID	The following table presents dividends declared and paid related to the Company's common and preferred shares: Per share data Dividends declared Dividends paid in year of declaration Dividends paid in year following declaration Year ended December 31, 2017 Common shares $ 1.53 $ 1.14 $ 0.39 Series C preferred shares $ 0.43 $ 0.43 $ — Series D preferred shares $ 1.38 $ 1.03 $ 0.34 Series E preferred shares $ 137.50 $ 103.13 $ 34.38 Year ended December 31, 2018 Common shares $ 1.57 $ 1.17 $ 0.40 Series D preferred shares $ 1.38 $ 1.03 $ 0.34 Series E preferred shares $ 137.50 $ 103.13 $ 34.38 Year ended December 31, 2019 Common shares $ 1.61 $ 1.20 $ 0.41 Series D preferred shares $ 1.21 $ 1.03 $ 0.18 Series E preferred shares $ 137.50 $ 103.13 $ 34.38

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
RECONCILIATION OF BEGINNING AND ENDING BALANCE OF NONVESTED RESTRICTED STOCK (INCLUDING RSUS) TO BE SETTLED IN SHARES AND CASH	The following table provides an activity summary of the Company's share-settled restricted stock units: Share-Settled Performance Restricted Stock Units Share-Settled Service Restricted Stock Units Number of restricted stock units Weighted average grant date fair value (1) Number of restricted stock units Weighted average grant date fair value (1) Nonvested restricted stock units - December 31, 2017 230 $ 57.08 1,355 $ 57.09 Granted 104 48.89 737 49.36 Vested (87 ) 54.71 (539 ) 54.51 Forfeited (15 ) 53.80 (142 ) 55.36 Nonvested restricted stock units - December 31, 2018 232 54.54 1,411 54.12 Granted 127 54.70 523 54.88 Vested (61 ) 53.82 (487 ) 54.29 Forfeited (40 ) 64.01 (174 ) 54.49 Nonvested restricted stock units - December 31, 2019 258 $ 53.31 1,273 $ 54.32 (1) Fair value is based on the closing price of the Company's common shares on the grant date. The following table provides an activity summary of the Company's cash-settled restricted stock units: Cash-Settled Performance Restricted Stock Units Cash-Settled Service Restricted Stock Units Number of restricted stock units Number of restricted stock units Nonvested restricted stock units - December 31, 2017 42 988 Granted — 473 Vested (12 ) (390 ) Forfeited (3 ) (139 ) Nonvested restricted stock units - December 31, 2018 27 932 Granted — 364 Vested (12 ) (333 ) Forfeited (9 ) (110 ) Nonvested restricted stock units - December 31, 2019 6 853
ADDITIONAL INFORMATION RELATED TO SHARE BASED COMPENSATION	The following table provides additional information related to share-based compensation: Year ended December 31, 2019 2018 2017 Share-based compensation expense (1) $ 52,218 $ 54,011 $ 67,697 Tax benefits associated with share-based compensation expense $ 8,913 $ 7,772 $ 14,937 Liability for cash-settled restricted stock units (2) $ 21,731 $ 20,648 $ 21,535 Fair value of restricted stock units vested (3)(4) $ 51,206 $ 50,750 $ 124,990 Unrecognized share-based compensation expense $ 75,770 $ 87,341 $ 94,315 Expected weighted average period to recognize unrecognized share-based compensation expense 2.3 years 2.4 years 2.5 years (1) Related to restricted shares, share-settled stock units, and cash settled restricted stock units. (2) Included in other liabilities in the consolidated balance sheets. (3) Fair value is based on the closing price of the Company's common shares on the vest date. (4) The fair value of share-settled restricted stock units and cash-settled restricted stock units that vested in 2017 included $44 million attributable to service restricted stock units which were granted in 2014 and were subject to a three year cliff vesting period.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
SCHEDULE OF INCOME TAX EXPENSE AND NET TAX ASSETS	The following table provides an analysis of income tax expense and net tax assets: Year ended December 31, 2019 2018 2017 Current income tax expense (benefit) U.S. $ 12,601 $ (5,401 ) $ (6,207 ) Europe 22,425 10,409 10,249 Other 469 51 — Deferred income tax expense (benefit) U.S. 17,665 15,288 18,495 Europe (29,468 ) (49,833 ) (30,079 ) Total income tax expense (benefit) $ 23,692 $ (29,486 ) $ (7,542 ) Net current tax receivables (payables) $ 13,130 $ 9,683 $ (639 ) Net deferred tax assets 18,621 39,775 4,438 Net tax assets $ 31,751 $ 49,458 $ 3,799
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES	The following table provides details of the significant components of deferred tax assets and liabilities: At December 31, 2019 2018 Deferred tax assets: Discounting of net reserves for losses and loss expenses $ 40,523 $ 37,440 Unearned premiums 42,709 40,447 Net unrealized investments losses — 11,438 Operating and capital loss carryforwards (1) 85,901 83,850 Accruals not currently deductible 29,705 32,589 Tax credits 2,956 8,672 Other deferred tax assets 14,355 9,195 Deferred tax assets before valuation allowance 216,149 223,631 Valuation allowance (18,560 ) (18,955 ) Deferred tax assets net of valuation allowance 197,589 204,676 Deferred tax liabilities: Deferred acquisition costs (38,320 ) (39,745 ) Net unrealized investments gains (30,434 ) — Intangible assets (44,199 ) (49,097 ) Equalization reserves (2,825 ) (22,069 ) Other deferred tax liabilities (63,190 ) (53,990 ) Deferred tax liabilities (178,968 ) (164,901 ) Net deferred tax assets $ 18,621 $ 39,775 (1) At December 31, 2019 and 2018, the total operating loss carryforwards includes Lloyd's deferred year of account losses of $50 million and $68 million , respectively.
SUMMARY OF TAX CREDITS	The following table summarizes total operating and capital loss carryforwards and tax credits: At December 31, 2019 2018 Operating and Capital Loss Carryforwards (1) Singapore (branch) operating loss carryforward $ 103,899 $ 79,445 U.K. operating loss carryforward (2) 431,374 413,504 Ireland operating loss carryforward 9,064 12,756 U.S. operating loss carryforward — 15,062 Ireland capital loss carryforward 716 716 Tax Credits (1) Ireland foreign tax credit $ 2,092 $ 2,248 U.S. alternative minimum tax credit — 6,026 U.K. tax credit 864 398 (1) At December 31, 2019, all remaining operating and capital loss carryforwards and tax credits can be carried forward indefinitely. (2) At December 31, 2019 and 2018, the U.K. operating loss carryforward includes Lloyd's deferred year of account losses of $293 million and $403 million , respectively.
SUMMARY OF OPERATING AND CAPITAL LOSS CARRYFORWARDS	The following table summarizes total operating and capital loss carryforwards and tax credits: At December 31, 2019 2018 Operating and Capital Loss Carryforwards (1) Singapore (branch) operating loss carryforward $ 103,899 $ 79,445 U.K. operating loss carryforward (2) 431,374 413,504 Ireland operating loss carryforward 9,064 12,756 U.S. operating loss carryforward — 15,062 Ireland capital loss carryforward 716 716 Tax Credits (1) Ireland foreign tax credit $ 2,092 $ 2,248 U.S. alternative minimum tax credit — 6,026 U.K. tax credit 864 398 (1) At December 31, 2019, all remaining operating and capital loss carryforwards and tax credits can be carried forward indefinitely. (2) At December 31, 2019 and 2018, the U.K. operating loss carryforward includes Lloyd's deferred year of account losses of $293 million and $403 million , respectively.
VALUATION ALLOWANCE ROLL FORWARD	The following table shows an analysis of the movement in the Company's valuation allowance: At December 31, 2019 2018 Income tax expense: Valuation allowance - beginning of year $ 13,891 $ 16,157 Operating loss carryforwards 2,445 198 Foreign tax credit (114 ) (1,359 ) U.K. branch assets and other foreign rate differentials 2,338 (205 ) U.S. alternative minimum tax credits — (900 ) Valuation allowance - end of year $ 18,560 $ 13,891 Accumulated other comprehensive income: Valuation allowance - beginning of year 5,064 — Change in investment - related items (5,064 ) 5,064 Valuation allowance - end of year — 5,064 Total valuation allowance - end of year $ 18,560 $ 18,955
EFFECTIVE TAX RATE RECONCILIATION	The following table presents the distribution of income before income taxes between domestic and foreign jurisdictions as well as a reconciliation of the actual income tax rate to the amount computed by applying the effective tax rate of 0% under Bermuda law to income before income taxes: Year ended December 31, 2019 2018 2017 Income (loss) before income taxes Bermuda (domestic) $ 179,418 $ 181,597 $ (188,420 ) Foreign 167,747 (168,062 ) (188,091 ) Total income (loss) before income taxes $ 347,165 $ 13,535 $ (376,511 ) Reconciliation of effective tax rate (% of income before income taxes) Expected tax rate 0.0 % 0.0 % 0.0 % Foreign taxes at local expected rates: U.S. 8.1 % 65.7 % 6.6 % Europe 0.4 % (289.7 )% 5.8 % Other — % 0.0 % 0.3 % Valuation allowance 1.3 % (13.4 )% — % Net tax exempt income — % (3.3 )% 0.1 % Change in U.S. enacted tax rate — % 0.0 % (11.1 )% Change in European enacted tax rate — % 16.9 % — % Other (3.0 )% 5.9 % 0.3 % Actual tax rate 6.8 % (217.9 )% 2.0 %

OTHER COMPREHENSIVE INCOME (L_2

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)

STATUTORY FINANCIAL INFORMATI_2

STATUTORY FINANCIAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2019
STATUTORY FINANCIAL INFORMATION [Abstract]
STATUTORY CAPITAL AND SURPLUS BY JURISDICTION	The statutory capital and surplus in each of the Company's most significant regulatory jurisdictions is shown in the following table: Bermuda Ireland U.S. At December 31, 2019 2018 2019 2018 2019 2018 Required statutory capital and surplus $ 1,502,153 $ 1,470,375 $ 719,405 $ 637,226 $ 500,750 $ 489,560 Available statutory capital and surplus $ 3,288,752 $ 3,513,342 $ 1,069,621 $ 896,868 $ 1,713,013 $ 1,668,847

UNAUDITED CONDENSED QUARTERLY_2

UNAUDITED CONDENSED QUARTERLY FINANCIAL DATA (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
UNAUDITED SUMMARY OF QUARTERLY FINANCIAL RESULTS	An unaudited summary of quarterly financial results is shown in the following table: Quarters ended Mar 31 Jun 30 Sep 30 Dec 31 2019 Net premiums earned $ 1,134,212 $ 1,123,607 $ 1,157,307 $ 1,172,051 Net investment income 107,303 137,949 115,763 117,557 Net investment gains 12,767 21,225 14,527 42,712 Underwriting income (loss) (1) (2) 77,822 78,659 (78,718 ) (49,254 ) Net income (loss) available (attributable) to common shareholders 98,125 166,387 27,745 (9,897 ) Earnings (loss) per common share $ 1.17 $ 1.98 $ 0.33 $ (0.12 ) Earnings (loss) per diluted common share $ 1.16 $ 1.97 $ 0.33 $ (0.12 ) 2018 Net premiums earned $ 1,167,402 $ 1,185,548 $ 1,224,075 $ 1,214,469 Net investment income 100,999 109,960 114,421 113,128 Net investment losses (14,830 ) (45,093 ) (17,628 ) (72,667 ) Underwriting income (loss) 143,737 115,726 59,026 (194,664 ) Net income (loss) available (attributable) to common shareholders 62,546 92,858 43,439 (198,448 ) Earnings (loss) per common share $ 0.75 $ 1.11 $ 0.52 $ (2.37 ) Earnings (loss) per diluted common share $ 0.75 $ 1.11 $ 0.52 $ (2.37 ) (1) Consolidated underwriting income is a pre-tax measure of underwriting profitability that takes into account net premiums earned and other insurance related income (loss) as revenues and net losses and loss expenses, acquisition costs and underwriting-related general and administrative expenses as expenses. Consolidated underwriting income (loss) is a non-GAAP financial measure as defined in Item 10(e) of SEC Regulation S-K. The reconciliation to income (loss) before income taxes and interest in income (loss) of equity method investments, the most comparable GAAP financial measure, is provided in Note 3 'Segment Information'. (2) Underwriting-related general and administrative expenses includes those general and administrative expenses that are incremental and/or directly attributable to the Company's underwriting operations. Underwriting-related general and administrative expenses is a non-GAAP financial measure as defined in Item 10(e) of SEC Regulation S-K. The reconciliation to general and administrative expenses, the most comparable GAAP financial measure, also included corporate expenses of $129 million , $108 million and $130 million for the years ended December 31, 2019 , 2018 and 2017 , respectively. Corporate expenses include holding company costs necessary to support our worldwide insurance and reinsurance operations and costs associated with operating as a publicly-traded company. As these costs are not incremental and/or directly attributable to the Company's underwriting operations, these expenses are excluded from underwriting-related general and administrative expenses. (3) During the quarters ended March 31, June 30, September 30 and December 31, 2019, the Company recognized reorganization expenses of $15 million , $3 million , $11 million and $8 million , respectively, related to its transformation program which was launched in 2017. This program encompasses the integration of Novae which commenced in the fourth quarter of 2017, the realignment of the accident and health business, together with other initiatives designed to increase the Company's efficiency and enhance the Company's profitability while delivering a customer-centric operating model. During the quarters ended March 31, June 30, September 30 and December 31, 2018, the Company recognized reorganization expenses of $13 million , $19 million , $16 million and $19 million , respectively (refer to Note 18 ' Transaction and Reorganization Expense' ). (4) During the quarters ended March 31, June 30, September 30 and December 31, 2019, the Company recognized amortization of VOBA of $13 million , $7 million , $4 million , $2 million , respectively, related to the acquisition of Novae. During the quarters ended March 31, June 30, September 30 and December 31, 2018, the Company recognized amortization of VOBA of $57 million , $53 million , $39 million and $23 million (refer to Note 4 'Goodwill and Intangible Assets ').

HISTORY (Details)

HISTORY (Details)	Jan. 01, 2019	Dec. 31, 2019	Oct. 02, 2017
Novae
Business Acquisition [Line Items]
Interests acquired			100.00%
Axis Corporate Capital UK Limited
Business Acquisition [Line Items]
Capital support, percentage	70.00%	70.00%
Axis Corporate Capital UK Limited II
Business Acquisition [Line Items]
Capital support, percentage	30.00%	30.00%

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICATION ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Gross premiums written									$ 6,898,858	$ 6,910,065	$ 5,556,273
Underwriting income (loss)	$ 49,254	$ 78,718	$ (78,659)	$ (77,822)	$ 194,664	$ (59,026)	$ (115,726)	$ (143,737)
Operating lease right-of-use assets	111,092								111,092
Operating lease liabilities	$ 115,584								115,584
Short-term lease expense									1,132
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets												$ 150,000
Operating lease liabilities				$ 150,000
Operating Segments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Gross premiums written									6,898,858	6,910,065	5,556,273
Underwriting income (loss)									(28,507)	(123,827)	413,326
Operating Segments | Insurance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Gross premiums written									3,675,931	3,797,592	2,814,918
Underwriting income (loss)									(44,019)	(77,298)	241,642
Operating Segments | Insurance | Restatement Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Gross premiums written											(313,000)
Underwriting income (loss)											14,000
Operating Segments | Reinsurance
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Gross premiums written									3,222,927	3,112,473	2,741,355
Underwriting income (loss)									$ 15,512	$ (46,529)	171,684
Operating Segments | Reinsurance | Restatement Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Gross premiums written											313,000
Underwriting income (loss)											$ (14,000)

SEGMENT INFORMATION - Segment r

SEGMENT INFORMATION - Segment results (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2019USD ($)reportable_segment	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Segment Reporting [Abstract]
Number of reportable segments | reportable_segment									2
Segment Information [Line Items]
Gross premiums written									$ 6,898,858	$ 6,910,065	$ 5,556,273
Net premiums written									4,489,615	4,658,962	4,027,143
Net premiums earned	$ 1,172,051	$ 1,157,307	$ 1,123,607	$ 1,134,212	$ 1,214,469	$ 1,224,075	$ 1,185,548	$ 1,167,402	4,587,178	4,791,495	4,148,760
Other insurance related income (losses)									16,444	10,622	(1,240)
Net losses and loss expenses									(3,044,798)	(3,190,287)	(3,287,772)
Acquisition costs									(1,024,582)	(968,835)	(823,591)
General and administrative expenses									(634,831)	(627,389)	(579,428)
Underwriting income (loss)	(49,254)	(78,718)	78,659	77,822	(194,664)	59,026	115,726	143,737
Net investment income	117,557	115,763	137,949	107,303	113,128	114,421	109,960	100,999	478,572	438,507	400,805
Net investment gains	42,712	14,527	21,225	12,767	(72,667)	(17,628)	(45,093)	(14,830)	91,233	(150,218)	28,226
Foreign exchange gains									12,041	29,165	(134,737)
Interest expense and financing costs									(68,107)	(67,432)	(54,811)
Bargain purchase gain									0	0	15,044
Transaction and reorganization expenses									(37,384)	(66,940)	(26,718)
Amortization of value of business acquired	(2,000)	$ (4,000)	$ (7,000)	$ (13,000)	(23,000)	$ (39,000)	$ (53,000)	$ (57,000)	(26,722)	(172,332)	(50,104)
Amortization of intangible assets									(11,597)	(13,814)	(2,543)
Income (loss) before income taxes and interest in income (loss) of equity method investments									337,447	12,542	(368,109)
Goodwill and intangible assets	341,545								341,545
Operating Segments
Segment Information [Line Items]
Gross premiums written									6,898,858	6,910,065	5,556,273
Net premiums written									4,489,615	4,658,962	4,027,143
Net premiums earned									4,587,178	4,791,495	4,148,760
Other insurance related income (losses)									16,444	10,622	(1,240)
Net losses and loss expenses									(3,044,798)	(3,190,287)	(3,287,772)
Acquisition costs									(1,024,582)	(968,835)	(823,591)
General and administrative expenses									(505,735)	(519,168)	(449,483)
Underwriting income (loss)									$ 28,507	$ 123,827	$ (413,326)
Net losses and loss expenses ratio									66.40%	66.60%	79.20%
Acquisition cost ratio									22.30%	20.20%	19.90%
General and administrative expense ratio									13.90%	13.10%	14.00%
Combined ratio									102.60%	99.90%	113.10%
Goodwill and intangible assets	332,553				343,571				$ 332,553	$ 343,571	$ 359,990
Operating Segments | Insurance
Segment Information [Line Items]
Gross premiums written									3,675,931	3,797,592	2,814,918
Net premiums written									2,209,155	2,324,747	1,775,825
Net premiums earned									2,190,084	2,362,606	1,816,438
Other insurance related income (losses)									2,858	3,460	2,944
Net losses and loss expenses									(1,278,679)	(1,494,323)	(1,465,427)
Acquisition costs									(468,281)	(399,193)	(270,229)
General and administrative expenses									(401,963)	(395,252)	(325,368)
Underwriting income (loss)									$ 44,019	$ 77,298	$ (241,642)
Net losses and loss expenses ratio									58.40%	63.20%	80.70%
Acquisition cost ratio									21.40%	16.90%	14.90%
General and administrative expense ratio									18.30%	16.80%	17.90%
Combined ratio									98.10%	96.90%	113.50%
Goodwill and intangible assets	332,553				343,571				$ 332,553	$ 343,571	$ 359,990
Operating Segments | Reinsurance
Segment Information [Line Items]
Gross premiums written									3,222,927	3,112,473	2,741,355
Net premiums written									2,280,460	2,334,215	2,251,318
Net premiums earned									2,397,094	2,428,889	2,332,322
Other insurance related income (losses)									13,586	7,162	(4,184)
Net losses and loss expenses									(1,766,119)	(1,695,964)	(1,822,345)
Acquisition costs									(556,301)	(569,642)	(553,362)
General and administrative expenses									(103,772)	(123,916)	(124,115)
Underwriting income (loss)									$ (15,512)	$ 46,529	$ (171,684)
Net losses and loss expenses ratio									73.70%	69.80%	78.10%
Acquisition cost ratio									23.20%	23.50%	23.70%
General and administrative expense ratio									4.30%	5.10%	5.30%
Combined ratio									101.20%	98.40%	107.10%
Goodwill and intangible assets	$ 0				$ 0				$ 0	$ 0	$ 0
Corporate
Segment Information [Line Items]
General and administrative expenses									(129,096)	(108,221)	(129,945)
Significant Reconciling Items
Segment Information [Line Items]
Net investment income									478,572	438,507	400,805
Net investment gains									91,233	(150,218)	28,226
Foreign exchange gains									12,041	29,165	(134,737)
Interest expense and financing costs									(68,107)	(67,432)	(54,811)
Bargain purchase gain											15,044
Transaction and reorganization expenses									(37,384)	(66,940)	(26,718)
Amortization of value of business acquired									(26,722)	(172,332)	(50,104)
Amortization of intangible assets									$ (11,597)	$ (13,814)	$ (2,543)

SEGMENT INFORMATION - Gross pre

SEGMENT INFORMATION - Gross premiums written (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Gross premiums written	$ 6,898,858	$ 6,910,065	$ 5,556,273
Bermuda
Revenues from External Customers and Long-Lived Assets [Line Items]
Gross premiums written	738,258	606,452	529,425
Ireland
Revenues from External Customers and Long-Lived Assets [Line Items]
Gross premiums written	1,679,646	1,805,882	1,569,956
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Gross premiums written	3,090,547	2,811,537	2,814,933
Lloyd's of London
Revenues from External Customers and Long-Lived Assets [Line Items]
Gross premiums written	$ 1,390,407	$ 1,686,194	$ 641,959

SEGMENT INFORMATION - Net premi

SEGMENT INFORMATION - Net premiums earned (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenue from External Customer [Line Items]
Net premiums earned	$ 1,172,051	$ 1,157,307	$ 1,123,607	$ 1,134,212	$ 1,214,469	$ 1,224,075	$ 1,185,548	$ 1,167,402	$ 4,587,178	$ 4,791,495	$ 4,148,760
Operating Segments
Revenue from External Customer [Line Items]
Net premiums earned									4,587,178	4,791,495	4,148,760
Operating Segments | Insurance
Revenue from External Customer [Line Items]
Net premiums earned									2,190,084	2,362,606	1,816,438
Operating Segments | Insurance | Property
Revenue from External Customer [Line Items]
Net premiums earned									633,550	796,945	543,342
Operating Segments | Insurance | Marine
Revenue from External Customer [Line Items]
Net premiums earned									281,764	300,944	181,533
Operating Segments | Insurance | Terrorism
Revenue from External Customer [Line Items]
Net premiums earned									47,345	49,150	36,084
Operating Segments | Insurance | Aviation
Revenue from External Customer [Line Items]
Net premiums earned									55,028	74,203	75,107
Operating Segments | Insurance | Credit and political risk
Revenue from External Customer [Line Items]
Net premiums earned									91,698	102,825	56,432
Operating Segments | Insurance | Professional lines
Revenue from External Customer [Line Items]
Net premiums earned									661,250	570,241	519,759
Operating Segments | Insurance | Liability
Revenue from External Customer [Line Items]
Net premiums earned									264,667	229,373	188,770
Operating Segments | Insurance | Accident and health
Revenue from External Customer [Line Items]
Net premiums earned									144,499	207,777	199,121
Operating Segments | Insurance | Discontinued lines - Novae
Revenue from External Customer [Line Items]
Net premiums earned									10,283	31,148	16,290
Operating Segments | Reinsurance
Revenue from External Customer [Line Items]
Net premiums earned									2,397,094	2,428,889	2,332,322
Operating Segments | Reinsurance | Catastrophe
Revenue from External Customer [Line Items]
Net premiums earned									267,591	250,016	209,470
Operating Segments | Reinsurance | Property
Revenue from External Customer [Line Items]
Net premiums earned									311,625	317,038	304,376
Operating Segments | Reinsurance | Professional lines
Revenue from External Customer [Line Items]
Net premiums earned									206,328	220,687	226,622
Operating Segments | Reinsurance | Credit and surety
Revenue from External Customer [Line Items]
Net premiums earned									208,717	250,276	244,186
Operating Segments | Reinsurance | Motor
Revenue from External Customer [Line Items]
Net premiums earned									398,565	438,693	371,501
Operating Segments | Reinsurance | Liability
Revenue from External Customer [Line Items]
Net premiums earned									373,664	363,292	351,940
Operating Segments | Reinsurance | Agriculture
Revenue from External Customer [Line Items]
Net premiums earned									188,925	176,435	195,391
Operating Segments | Reinsurance | Engineering
Revenue from External Customer [Line Items]
Net premiums earned									63,899	67,932	66,291
Operating Segments | Reinsurance | Marine and other
Revenue from External Customer [Line Items]
Net premiums earned									59,209	35,570	64,449
Operating Segments | Reinsurance | Accident and health
Revenue from External Customer [Line Items]
Net premiums earned									319,619	299,813	289,925
Operating Segments | Reinsurance | Discontinued lines - Novae
Revenue from External Customer [Line Items]
Net premiums earned									$ (1,048)	$ 9,137	$ 8,171

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Analysis of goodwill and intangible assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill
Goodwill, gross	$ 97,092	$ 97,092	$ 42,237
Accumulated translation adjustment	4,911	4,911	4,911
Goodwill, net of accumulated translation adjustment	102,003	102,003	47,148
Acquired during the year			54,855
Intangible assets with an indefinite life
Gross amount	120,784	120,784	26,036
Accumulated translation adjustment	0	0	0
Intangible assets with an indefinite life, net	120,784	120,784	26,036
Acquired during the year			94,748
Intangible assets with a finite life
Gross amount	404,304	410,575	23,030
Accumulated amortization	(247,804)	(66,534)	(11,165)
Accumulated translation adjustment	0	0	0
Finite-lived intangible assets and VOBA, net, before amortization, acquisitions, and impairment	156,500	344,041	11,865
Acquired during the year			387,545
Amortization	(37,742)	(184,043)	(55,369)
Impairment charges		(3,500)
Intangible assets with a finite life, net	118,758
Total
Gross amount	622,180	628,451	91,303
Accumulated amortization	(247,804)	(66,534)	(11,165)
Accumulated translation adjustment	4,911	4,911	4,911
Intangible assets, net, before amortization, acquisitions, and impairment	379,287	566,828	85,049
Acquired during the year			537,148
Amortization	(37,742)	$ (184,043)	$ (55,369)
Goodwill and intangible assets net balance	$ 341,545

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Gross amount and accumulated amortization by category (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross amount	$ 531,359	$ 525,088
Accumulated amortization	(254,077)	(285,546)
Total intangible assets	277,282	239,542
Impairment charges	3,500
Customer lists, trademark and non-compete - Media Pro
Finite-Lived Intangible Assets [Line Items]
Gross amount	9,700	9,700
Accumulated amortization	(9,598)	(9,700)
Total intangible assets	102	0
Customer relationships and customers lists - Ternian
Finite-Lived Intangible Assets [Line Items]
Gross amount	13,330	13,330
Accumulated amortization	(4,999)	(6,333)
Total intangible assets	8,331	6,997
Coverholders
Finite-Lived Intangible Assets [Line Items]
Gross amount	63,565	63,565
Accumulated amortization	(6,622)	(11,918)
Total intangible assets	56,943	51,647
Large brokers
Finite-Lived Intangible Assets [Line Items]
Gross amount	46,641	46,641
Accumulated amortization	(3,888)	(6,996)
Total intangible assets	42,753	39,645
SME brokers
Finite-Lived Intangible Assets [Line Items]
Gross amount	14,126	14,126
Accumulated amortization	(1,471)	(2,649)
Total intangible assets	12,655	11,477
MGA contract
Finite-Lived Intangible Assets [Line Items]
Gross amount	4,131
Accumulated amortization	(4,131)
Total intangible assets	0
Impairment charges	3,500
U.S. state licenses
Finite-Lived Intangible Assets [Line Items]
Gross amount	26,036	26,036
Total intangible assets	26,036	26,036
Syndicate capacity
Finite-Lived Intangible Assets [Line Items]
Gross amount	94,748	94,748
Total intangible assets	94,748	94,748
Avaibel | VOBA - Novae
Finite-Lived Intangible Assets [Line Items]
Gross amount	2,140
Accumulated amortization	(2,140)
Total intangible assets	0
Novae | VOBA - Novae
Finite-Lived Intangible Assets [Line Items]
Gross amount	256,942	256,942
Accumulated amortization	(221,228)	(247,950)
Total intangible assets	$ 35,714	$ 8,992

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Estimated amortization expense (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
VOBA
2020	$ 5,139
2021	3,853
2022	0
2023	0
2024	0
2025 and thereafter	0
Value of business acquired	8,992	$ 35,714
Intangible assets
2020	10,916
2021	10,916
2022	10,916
2023	10,916
2024	10,916
2025 and thereafter	55,186
Total	109,766
Indefinite lived intangible assets	120,784	120,784	$ 26,036
Intangible assets, net	230,550	241,568
Total
2020	16,055
2021	14,769
2022	10,916
2023	10,916
2024	10,916
2025 and thereafter	55,186
Total remaining amortization expense	118,758
Total intangible assets	$ 239,542	$ 277,282

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Excess purchase price over fair value of net assets acquired assigned to goodwill	$ 102,003	$ 102,003
Impairment charges		3,500
Minimum
Finite-Lived Intangible Assets [Line Items]
Economic useful life	2 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Economic useful life	13 years
MGA contract
Finite-Lived Intangible Assets [Line Items]
Impairment charges		$ 3,500
Novae
Finite-Lived Intangible Assets [Line Items]
Finite lived other intangible assets			$ 385,000
Value of business acquired - definite lived intangible asset			257,000
Indefinite lived intangible assets			95,000
Excess purchase price over fair value of net assets acquired assigned to goodwill			54,000
Novae | Distribution networks
Finite-Lived Intangible Assets [Line Items]
Finite lived other intangible assets			128,000
Contessa Limited
Finite-Lived Intangible Assets [Line Items]
Excess purchase price over fair value of net assets acquired assigned to goodwill			$ 1,000

INVESTMENTS - Amortized cost or

INVESTMENTS - Amortized cost or cost and fair values (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fixed maturities
Amortized cost	$ 12,263,240	$ 11,616,312
Gross unrealized gains	236,817	33,874
Gross unrealized losses	(31,852)	(214,839)
Fair value	12,468,205	11,435,347
U.S. government and agency
Fixed maturities
Amortized cost	2,102,849	1,520,142
Gross unrealized gains	16,345	4,232
Gross unrealized losses	(6,313)	(8,677)
Fair value	2,112,881	1,515,697
Non-U.S. government
Fixed maturities
Amortized cost	564,505	507,550
Gross unrealized gains	14,535	1,586
Gross unrealized losses	(2,448)	(16,120)
Fair value	576,592	493,016
Corporate debt
Fixed maturities
Amortized cost	4,797,384	4,990,279
Gross unrealized gains	140,426	15,086
Gross unrealized losses	(7,556)	(128,444)
Fair value	4,930,254	4,876,921
Agency RMBS
Fixed maturities
Amortized cost	1,570,823	1,666,684
Gross unrealized gains	25,215	6,508
Gross unrealized losses	(3,454)	(29,884)
Fair value	1,592,584	1,643,308
CMBS
Fixed maturities
Amortized cost	1,340,156	1,103,507
Gross unrealized gains	29,838	2,818
Gross unrealized losses	(4,942)	(13,795)
Fair value	1,365,052	1,092,530
Non-Agency RMBS
Fixed maturities
Amortized cost	84,381	40,732
Gross unrealized gains	1,393	1,237
Gross unrealized losses	(852)	(1,282)
Fair value	84,922	40,687
ABS
Fixed maturities
Amortized cost	1,599,867	1,651,350
Gross unrealized gains	4,706	1,493
Gross unrealized losses	(5,880)	(15,240)
Fair value	1,598,693	1,637,603
Municipals
Fixed maturities
Amortized cost	203,275	136,068
Gross unrealized gains	4,359	914
Gross unrealized losses	(407)	(1,397)
Fair value	$ 207,227	$ 135,585

INVESTMENTS - Equity securities

INVESTMENTS - Equity securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Debt and Equity Securities, FV-NI [Line Items]
Cost	$ 398,956	$ 365,905
Gross unrealized gains	81,521	33,610
Gross unrealized losses	(6,270)	(17,882)
Fair value	$ 474,207	381,633
Limited partnership investment, other investments	55.00%
Common stocks
Debt and Equity Securities, FV-NI [Line Items]
Cost	$ 504	790
Gross unrealized gains	77	112
Gross unrealized losses	(388)	(375)
Fair value	193	527
Exchange-traded funds
Debt and Equity Securities, FV-NI [Line Items]
Cost	215,986	213,420
Gross unrealized gains	81,444	33,498
Gross unrealized losses	(105)	(10,079)
Fair value	297,325	236,839
Bond mutual funds
Debt and Equity Securities, FV-NI [Line Items]
Cost	182,466	151,695
Gross unrealized gains	0	0
Gross unrealized losses	(5,777)	(7,428)
Fair value	$ 176,689	$ 144,267

INVESTMENTS - Contractual matur

INVESTMENTS - Contractual maturities of fixed maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Amortized cost
Due in one year or less	$ 438,881	$ 430,390
Due after one year through five years	4,810,202	4,751,064
Due after five years through ten years	2,091,486	1,762,452
Due after ten years	327,444	210,133
Total fixed maturities with a single maturity date (amortized cost)	7,668,013	7,154,039
Total	12,263,240	11,616,312
Fair value
Due in one year or less	443,228	426,142
Due after one year through five years	4,884,837	4,691,263
Due after five years through ten years	2,157,157	1,697,737
Due after ten years	341,732	206,077
Total fixed maturities with a single maturity date (fair value)	7,826,954	7,021,219
Fair value	$ 12,468,205	$ 11,435,347
% of Total fair value
Due in one year or less	3.60%	3.70%
Due after one year through five years	39.20%	41.00%
Due after five years through ten years	17.30%	14.80%
Due after ten years	2.70%	1.80%
Fixed maturities with a single maturity date (% of total fair value)	62.80%	61.30%
Total	100.00%	100.00%
Agency RMBS
Amortized cost
Fixed maturities without a single maturity date	$ 1,570,823	$ 1,666,684
Total	1,570,823	1,666,684
Fair value
Fixed maturities without a single maturity date (fair value)	1,592,584	1,643,308
Fair value	$ 1,592,584	$ 1,643,308
% of Total fair value
Fixed maturities without a single maturity date (% of total fair value)	12.80%	14.40%
CMBS
Amortized cost
Fixed maturities without a single maturity date	$ 1,340,156	$ 1,103,507
Total	1,340,156	1,103,507
Fair value
Fixed maturities without a single maturity date (fair value)	1,365,052	1,092,530
Fair value	$ 1,365,052	$ 1,092,530
% of Total fair value
Fixed maturities without a single maturity date (% of total fair value)	10.90%	9.60%
Non-Agency RMBS
Amortized cost
Fixed maturities without a single maturity date	$ 84,381	$ 40,732
Total	84,381	40,732
Fair value
Fixed maturities without a single maturity date (fair value)	84,922	40,687
Fair value	$ 84,922	$ 40,687
% of Total fair value
Fixed maturities without a single maturity date (% of total fair value)	0.70%	0.40%
ABS
Amortized cost
Fixed maturities without a single maturity date	$ 1,599,867	$ 1,651,350
Total	1,599,867	1,651,350
Fair value
Fixed maturities without a single maturity date (fair value)	1,598,693	1,637,603
Fair value	$ 1,598,693	$ 1,637,603
% of Total fair value
Fixed maturities without a single maturity date (% of total fair value)	12.80%	14.30%

INVESTMENTS - Gross unrealized

INVESTMENTS - Gross unrealized losses (Details) $ in Thousands	Dec. 31, 2019USD ($)security	Dec. 31, 2018USD ($)security
Fixed maturities
Total Unrealized Losses	$ (32,000)	$ (215,000)
Fixed maturities
Fixed maturities
Fair Value - 12 months or greater	997,856	3,569,519
Unrealized Losses - 12 months or greater	(13,323)	(114,561)
Fair Value - Less than 12 months	2,177,108	4,917,951
Unrealized Losses - Less than 12 months	(18,529)	(100,278)
Total Fair Value	3,174,964	8,487,470
Total Unrealized Losses	$ (31,852)	$ (214,839)
Number of positions in an unrealized loss | security	1,190	3,599
Continuous unrealized loss position | security	497	1,656
Fixed maturities | Below Investment Grade or Not Rated
Fixed maturities
Total Unrealized Losses	$ (5,000)	$ (49,000)
U.S. government and agency
Fixed maturities
Fair Value - 12 months or greater	9,536	374,030
Unrealized Losses - 12 months or greater	(67)	(7,659)
Fair Value - Less than 12 months	614,705	424,439
Unrealized Losses - Less than 12 months	(6,246)	(1,018)
Total Fair Value	624,241	798,469
Total Unrealized Losses	(6,313)	(8,677)
Non-U.S. government
Fixed maturities
Fair Value - 12 months or greater	99,466	44,339
Unrealized Losses - 12 months or greater	(2,036)	(2,004)
Fair Value - Less than 12 months	18,361	303,376
Unrealized Losses - Less than 12 months	(412)	(14,116)
Total Fair Value	117,827	347,715
Total Unrealized Losses	(2,448)	(16,120)
Corporate debt
Fixed maturities
Fair Value - 12 months or greater	121,635	1,439,378
Unrealized Losses - 12 months or greater	(3,847)	(58,915)
Fair Value - Less than 12 months	375,858	2,547,135
Unrealized Losses - Less than 12 months	(3,709)	(69,529)
Total Fair Value	497,493	3,986,513
Total Unrealized Losses	(7,556)	(128,444)
Agency RMBS
Fixed maturities
Fair Value - 12 months or greater	195,395	940,645
Unrealized Losses - 12 months or greater	(1,816)	(29,255)
Fair Value - Less than 12 months	326,402	117,181
Unrealized Losses - Less than 12 months	(1,638)	(629)
Total Fair Value	521,797	1,057,826
Total Unrealized Losses	(3,454)	(29,884)
CMBS
Fixed maturities
Fair Value - 12 months or greater	24,281	455,582
Unrealized Losses - 12 months or greater	(64)	(11,430)
Fair Value - Less than 12 months	364,641	353,802
Unrealized Losses - Less than 12 months	(4,878)	(2,365)
Total Fair Value	388,922	809,384
Total Unrealized Losses	(4,942)	(13,795)
Non-Agency RMBS
Fixed maturities
Fair Value - 12 months or greater	6,345	9,494
Unrealized Losses - 12 months or greater	(792)	(1,170)
Fair Value - Less than 12 months	25,816	11,432
Unrealized Losses - Less than 12 months	(60)	(112)
Total Fair Value	32,161	20,926
Total Unrealized Losses	(852)	(1,282)
ABS
Fixed maturities
Fair Value - 12 months or greater	535,780	237,237
Unrealized Losses - 12 months or greater	(4,667)	(2,755)
Fair Value - Less than 12 months	404,641	1,150,692
Unrealized Losses - Less than 12 months	(1,213)	(12,485)
Total Fair Value	940,421	1,387,929
Total Unrealized Losses	(5,880)	(15,240)
Municipals
Fixed maturities
Fair Value - 12 months or greater	5,418	68,814
Unrealized Losses - 12 months or greater	(34)	(1,373)
Fair Value - Less than 12 months	46,684	9,894
Unrealized Losses - Less than 12 months	(373)	(24)
Total Fair Value	52,102	78,708
Total Unrealized Losses	$ (407)	$ (1,397)

INVESTMENTS - Mortgage loans (D

INVESTMENTS - Mortgage loans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Mortgage Loans held-for-investment:
Commercial	$ 432,748,000	$ 298,650,000
Total Mortgage Loans held-for-investment	$ 432,748,000	$ 298,650,000
% of Total
Commercial	100.00%	100.00%
Total Mortgage Loans held-for-investment	100.00%	100.00%
Debt service coverage ratio, in excess of	2.1
Loan-to-value ratio, percent (less than)	57.00%
Credit losses on commercial mortgage loans	$ 0	$ 0

INVESTMENTS - Other Investments

INVESTMENTS - Other Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2015
Other Investments [Line Items]
Fair value	$ 770,923	$ 787,787
Percentage of total fair value	100.00%	100.00%
Unfunded commitments related to other investments	$ 588,000	$ 507,000
Long/short equity funds
Other Investments [Line Items]
Fair value	$ 31,248	$ 26,779
Percentage of total fair value	4.00%	3.00%
Redemption notice period	60 days	60 days
Multi-strategy funds
Other Investments [Line Items]
Fair value	$ 136,542	$ 167,819
Percentage of total fair value	18.00%	22.00%
Multi-strategy funds | Other Redemption Restriction
Other Investments [Line Items]
Unfunded commitments related to other investments	$ 24,000	$ 84,000
Investment term	2 years
Multi-strategy funds | Minimum
Other Investments [Line Items]
Redemption notice period	60 days	45 days
Multi-strategy funds | Maximum
Other Investments [Line Items]
Redemption notice period	90 days	95 days
Direct lending funds
Other Investments [Line Items]
Fair value	$ 277,395	$ 274,478
Percentage of total fair value	36.00%	35.00%
Direct lending funds | Other Redemption Restriction
Other Investments [Line Items]
Unfunded commitments related to other investments	$ 170,000	$ 210,000
Optional extension of investment term	3 years
Direct lending funds | Minimum | Other Redemption Restriction
Other Investments [Line Items]
Investment term	5 years
Direct lending funds | Maximum | Other Redemption Restriction
Other Investments [Line Items]
Investment term	10 years
Private equity funds
Other Investments [Line Items]
Fair value	$ 80,412	$ 64,566
Percentage of total fair value	10.00%	8.00%
Private equity funds | Other Redemption Restriction
Other Investments [Line Items]
Unfunded commitments related to other investments	$ 261,000	$ 16,000
Investment term	5 years
Real estate funds
Other Investments [Line Items]
Fair value	$ 130,112	$ 84,202
Percentage of total fair value	17.00%	11.00%
Real estate funds | Other Redemption Restriction
Other Investments [Line Items]
Unfunded commitments related to other investments	$ 82,000	$ 147,000
Real estate funds | Minimum | Other Redemption Restriction
Other Investments [Line Items]
Investment term	7 years
CLO-Equities
Other Investments [Line Items]
Fair value	$ 14,328	$ 21,271
Percentage of total fair value	2.00%	2.00%
Other privately held investments
Other Investments [Line Items]
Fair value	$ 36,934	$ 44,518
Percentage of total fair value	5.00%	6.00%
Overseas deposits
Other Investments [Line Items]
Fair value	$ 63,952	$ 104,154
Percentage of total fair value	8.00%	13.00%
Hedge funds | Lockup Redemption Restriction
Other Investments [Line Items]
Fair value of other investments subject to redemption restrictions	$ 69,000	$ 27,000
Percentage of fair value of other investments subject to redemption restrictions	41.00%	14.00%
Bank Revolver Opportunity Funds | Other Redemption Restriction
Other Investments [Line Items]
Unfunded commitments related to other investments			$ 50,000
Investment term	7 years
Optional extension of investment term	2 years

INVESTMENTS - Equity method inv

INVESTMENTS - Equity method investments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments	$ 0	$ 0	$ 1,000,000
Equity method investments	$ 117,821,000	$ 108,103,000
Harrington Reinsurance Holdings Limited
Schedule of Equity Method Investments [Line Items]
Payments to acquire equity method investments				$ 108,000,000
Equity method investment, ownership percentage				19.00%
Equity method investment, difference between carrying amount and underlying equity				$ 5,000,000
Other Equity Method Investments | U.S.
Schedule of Equity Method Investments [Line Items]
Equity method investment, other than temporary impairment			9,000,000
Equity method investments			$ 0

INVESTMENTS - Net Investment In

INVESTMENTS - Net Investment Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net Investment Income [Line Items]
Gross investment income									$ 503,172	$ 465,806	$ 427,994
Investment expenses									(24,600)	(27,299)	(27,189)
Net investment income	$ 117,557	$ 115,763	$ 137,949	$ 107,303	$ 113,128	$ 114,421	$ 109,960	$ 100,999	478,572	438,507	400,805
Fixed maturities
Net Investment Income [Line Items]
Gross investment income									384,053	356,273	312,662
Other investments
Net Investment Income [Line Items]
Gross investment income									60,038	48,959	76,858
Equity securities
Net Investment Income [Line Items]
Gross investment income									10,434	10,077	14,919
Mortgage loans
Net Investment Income [Line Items]
Gross investment income									14,712	13,566	10,780
Cash and cash equivalents
Net Investment Income [Line Items]
Gross investment income									26,882	27,566	10,057
Short-term investments
Net Investment Income [Line Items]
Gross investment income									$ 7,053	$ 9,365	$ 2,718

INVESTMENTS - Net Investment ga

INVESTMENTS - Net Investment gains (losses) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Gross realized investment gains
Fixed maturities and short-term investments									$ 93,160	$ 46,067	$ 72,046
Equity securities									3,449	20,435	78,343
Gross realized investment gains									96,609	66,502	150,389
Gross realized investment losses
Fixed maturities and short-term investments									(56,515)	(142,153)	(98,442)
Equity securities									(323)	(3,389)	(959)
Gross realized investment losses									(56,838)	(145,542)	(99,401)
Net OTTI charge recognized in net income									(6,984)	(9,733)	(14,493)
Change in fair value of investment derivatives									(1,823)	5,445	(8,269)
Change in fair value of equity securities									60,269	(66,890)	0
Total net investment gains (losses)	$ 42,712	$ 14,527	$ 21,225	$ 12,767	$ (72,667)	$ (17,628)	$ (45,093)	$ (14,830)	$ 91,233	$ (150,218)	$ 28,226

INVESTMENTS - OTTI recognized i

INVESTMENTS - OTTI recognized in earnings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net [Line Items]
Total OTTI recognized in net income	$ 6,984	$ 9,733	$ 14,493
Non-U.S. government
Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net [Line Items]
Total OTTI recognized in net income	90	4,697	8,187
Corporate debt
Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net [Line Items]
Total OTTI recognized in net income	6,894	4,995	6,306
Non-Agency CMBS
Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net [Line Items]
Total OTTI recognized in net income	$ 0	$ 41	$ 0

INVESTMENTS - Securities narrat

INVESTMENTS - Securities narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Available For Sale Securities [Line Items]
Fair value	$ 12,468,205	$ 11,435,347
Total Unrealized Losses	32,000	215,000
Fair value	474,207	381,633
Non-U.S. government
Schedule Of Available For Sale Securities [Line Items]
Fair value	576,592	493,016
Total Unrealized Losses	2,448	16,120
Non-U.S. government | Eurozone
Schedule Of Available For Sale Securities [Line Items]
Fair value	37,000	29,000
CMBS
Schedule Of Available For Sale Securities [Line Items]
Fair value	1,365,052	1,092,530
Total Unrealized Losses	$ 4,942	$ 13,795
CMBS | Weighted Average
Schedule Of Available For Sale Securities [Line Items]
Subordination percentage input for determining credit losses	29.00%	31.00%
Non-Agency RMBS
Schedule Of Available For Sale Securities [Line Items]
Fair value	$ 84,922	$ 40,687
Total Unrealized Losses	852	1,282
Non-Agency RMBS | Prime
Schedule Of Available For Sale Securities [Line Items]
Fair value	54,000	31,000
Non-Agency RMBS | Alt A
Schedule Of Available For Sale Securities [Line Items]
Fair value	$ 11,000	$ 5,000

INVESTMENTS - Restricted assets

INVESTMENTS - Restricted assets (Details) - USD ($)	Jan. 01, 2019	Dec. 31, 2019	Dec. 31, 2018
Restricted Investments [Line Items]
Collateral in Trust for inter-company agreements		$ 1,580,689,000	$ 2,121,522,000
Collateral for secured letter of credit facility		473,187,000	470,051,000
Funds at Lloyd's		1,314,345,000	1,307,945,000
Collateral in Trust for third party agreements		1,856,327,000	1,510,416,000
Securities on deposit with regulatory authorities		76,229,000	64,360,000
Total restricted investments		5,300,777,000	5,474,294,000
Syndicate 2007
Restricted Investments [Line Items]
Collateral in Trust for third party agreements		365,000,000	403,000,000
Pledged cash for third party insurance and reinsurance agreements		16,000,000	39,000,000
Syndicate 1686
Restricted Investments [Line Items]
Collateral in Trust for third party agreements		169,000,000	0
Pledged cash for third party insurance and reinsurance agreements		$ 181,000,000	$ 154,000,000
Axis Corporate Capital UK Limited
Restricted Investments [Line Items]
Capital support, percentage	70.00%	70.00%
Axis Corporate Capital UK Limited II
Restricted Investments [Line Items]
Capital support, percentage	30.00%	30.00%

INVESTMENTS - Reverse repurchas

INVESTMENTS - Reverse repurchase agreements (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Value of reverse repurchase agreements	$ 0	$ 189
Minimum required collateral for reverse repurchase agreements, expressed as a percentage of loan principal	102.00%

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair value on a recurring basis (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	$ 12,468,205	$ 11,435,347
Equity securities	474,207	381,633
Other investments	770,923	787,787
Short-term investments	38,471	144,040
Derivative instruments	3,174	8,237
Total Assets	13,754,980	12,757,044
Derivative instruments	13,637	14,522
Cash settled awards	21,731	20,648
Total Liabilities	35,368	35,170
U.S. government and agency
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	2,112,881	1,515,697
Non-U.S. government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	576,592	493,016
Corporate debt
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	4,930,254	4,876,921
Agency RMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	1,592,584	1,643,308
CMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	1,365,052	1,092,530
Non-Agency RMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	84,922	40,687
ABS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	1,598,693	1,637,603
Municipals
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	207,227	135,585
Common stocks
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	193	527
Exchange-traded funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	297,325	236,839
Bond mutual funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	176,689	144,267
Hedge funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	167,790	194,598
Direct lending funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	277,395	274,478
Private equity funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	80,412	64,566
Real estate funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	130,112	84,202
Other privately held investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	36,934	44,518
CLO-Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	14,328	21,271
Overseas deposits
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	63,952	104,154
Quoted prices in active markets for identical assets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	2,053,622	1,480,466
Equity securities	297,518	237,366
Other investments	0	0
Short-term investments	0	0
Derivative instruments	0	0
Total Assets	2,351,140	1,717,832
Derivative instruments	0	0
Cash settled awards	0	0
Total Liabilities	0	0
Quoted prices in active markets for identical assets (Level 1) | U.S. government and agency
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	2,053,622	1,480,466
Quoted prices in active markets for identical assets (Level 1) | Non-U.S. government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	0	0
Quoted prices in active markets for identical assets (Level 1) | Corporate debt
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	0	0
Quoted prices in active markets for identical assets (Level 1) | Agency RMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	0	0
Quoted prices in active markets for identical assets (Level 1) | CMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	0	0
Quoted prices in active markets for identical assets (Level 1) | Non-Agency RMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	0	0
Quoted prices in active markets for identical assets (Level 1) | ABS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	0	0
Quoted prices in active markets for identical assets (Level 1) | Municipals
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	0	0
Quoted prices in active markets for identical assets (Level 1) | Common stocks
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	193	527
Quoted prices in active markets for identical assets (Level 1) | Exchange-traded funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	297,325	236,839
Quoted prices in active markets for identical assets (Level 1) | Bond mutual funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	0	0
Quoted prices in active markets for identical assets (Level 1) | Hedge funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Quoted prices in active markets for identical assets (Level 1) | Direct lending funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Quoted prices in active markets for identical assets (Level 1) | Private equity funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Quoted prices in active markets for identical assets (Level 1) | Real estate funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Quoted prices in active markets for identical assets (Level 1) | Other privately held investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Quoted prices in active markets for identical assets (Level 1) | CLO-Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Quoted prices in active markets for identical assets (Level 1) | Overseas deposits
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant other observable inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	10,406,562	9,868,202
Equity securities	176,689	144,267
Other investments	63,952	104,154
Short-term investments	38,471	144,040
Derivative instruments	3,174	8,237
Total Assets	10,688,848	10,268,900
Derivative instruments	3,965	4,223
Cash settled awards	21,731	20,648
Total Liabilities	25,696	24,871
Significant other observable inputs (Level 2) | U.S. government and agency
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	59,259	35,231
Significant other observable inputs (Level 2) | Non-U.S. government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	576,592	493,016
Significant other observable inputs (Level 2) | Corporate debt
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	4,927,957	4,827,909
Significant other observable inputs (Level 2) | Agency RMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	1,592,584	1,643,308
Significant other observable inputs (Level 2) | CMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	1,359,817	1,073,396
Significant other observable inputs (Level 2) | Non-Agency RMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	84,922	40,687
Significant other observable inputs (Level 2) | ABS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	1,598,204	1,619,070
Significant other observable inputs (Level 2) | Municipals
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	207,227	135,585
Significant other observable inputs (Level 2) | Common stocks
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	0	0
Significant other observable inputs (Level 2) | Exchange-traded funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	0	0
Significant other observable inputs (Level 2) | Bond mutual funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	176,689	144,267
Significant other observable inputs (Level 2) | Hedge funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant other observable inputs (Level 2) | Direct lending funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant other observable inputs (Level 2) | Private equity funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant other observable inputs (Level 2) | Real estate funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant other observable inputs (Level 2) | Other privately held investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant other observable inputs (Level 2) | CLO-Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant other observable inputs (Level 2) | Overseas deposits
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	63,952	104,154
Significant unobservable inputs (Level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	8,021	86,679
Equity securities	0	0
Other investments	51,262	65,789
Short-term investments	0	0
Derivative instruments	0	0
Total Assets	59,283	152,468
Derivative instruments	9,672	10,299
Cash settled awards	0	0
Total Liabilities	9,672	10,299
Significant unobservable inputs (Level 3) | U.S. government and agency
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	0	0
Significant unobservable inputs (Level 3) | Non-U.S. government
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	0	0
Significant unobservable inputs (Level 3) | Corporate debt
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	2,297	49,012
Significant unobservable inputs (Level 3) | Agency RMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	0	0
Significant unobservable inputs (Level 3) | CMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	5,235	19,134
Significant unobservable inputs (Level 3) | Non-Agency RMBS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	0	0
Significant unobservable inputs (Level 3) | ABS
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	489	18,533
Significant unobservable inputs (Level 3) | Municipals
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed maturities	0	0
Significant unobservable inputs (Level 3) | Common stocks
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	0	0
Significant unobservable inputs (Level 3) | Exchange-traded funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	0	0
Significant unobservable inputs (Level 3) | Bond mutual funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Equity securities	0	0
Significant unobservable inputs (Level 3) | Hedge funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant unobservable inputs (Level 3) | Direct lending funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant unobservable inputs (Level 3) | Private equity funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant unobservable inputs (Level 3) | Real estate funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Significant unobservable inputs (Level 3) | Other privately held investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	36,934	44,518
Significant unobservable inputs (Level 3) | CLO-Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	14,328	21,271
Significant unobservable inputs (Level 3) | Overseas deposits
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Fair value based on NAV practical expedient
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	655,709	617,844
Total Assets	655,709	617,844
Fair value based on NAV practical expedient | Hedge funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	167,790	194,598
Fair value based on NAV practical expedient | Direct lending funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	277,395	274,478
Fair value based on NAV practical expedient | Private equity funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	80,412	64,566
Fair value based on NAV practical expedient | Real estate funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	130,112	84,202
Fair value based on NAV practical expedient | Other privately held investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Fair value based on NAV practical expedient | CLO-Equities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	0	0
Fair value based on NAV practical expedient | Overseas deposits
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other investments	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Level

FAIR VALUE MEASUREMENTS - Level 3 fair value inputs (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value	$ 770,923	$ 787,787
Net derivative liability	(13,637)	(14,522)
Fixed maturities	12,468,205	11,435,347
Significant unobservable inputs (Level 3)
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value	51,262	65,789
Net derivative liability	(9,672)	(10,299)
Fixed maturities	8,021	86,679
Significant unobservable inputs (Level 3) | Other investments - CLO-Equities
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value	$ 14,328
Estimated maturity dates (years)	7 years
Significant unobservable inputs (Level 3) | Other investments - CLO-Equities | Weighted Average
Fair Value Inputs Assets Quantitative Information [Line Items]
Estimated maturity dates (years)	7 years
Other privately held investments
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value	$ 36,934	44,518
Other privately held investments | Significant unobservable inputs (Level 3)
Fair Value Inputs Assets Quantitative Information [Line Items]
Fair value	$ 36,934	$ 44,518
Default rates | Significant unobservable inputs (Level 3) | Other investments - CLO-Equities
Fair Value Inputs Assets Quantitative Information [Line Items]
Discount rate	0.035
Default rates | Significant unobservable inputs (Level 3) | Other investments - CLO-Equities | Weighted Average
Fair Value Inputs Assets Quantitative Information [Line Items]
Discount rate	0.035
Loss severity rate | Significant unobservable inputs (Level 3) | Other investments - CLO-Equities
Fair Value Inputs Assets Quantitative Information [Line Items]
Discount rate	0.350
Loss severity rate | Significant unobservable inputs (Level 3) | Other investments - CLO-Equities | Weighted Average
Fair Value Inputs Assets Quantitative Information [Line Items]
Discount rate	0.350
Collateral spreads | Significant unobservable inputs (Level 3) | Other investments - CLO-Equities
Fair Value Inputs Assets Quantitative Information [Line Items]
Discount rate	0.030
Collateral spreads | Significant unobservable inputs (Level 3) | Other investments - CLO-Equities | Weighted Average
Fair Value Inputs Assets Quantitative Information [Line Items]
Discount rate	0.030
Discount rate | Significant unobservable inputs (Level 3)
Fair Value Inputs Assets Quantitative Information [Line Items]
Derivative liability, measurement input	0.018
Discount rate | Significant unobservable inputs (Level 3) | Weighted Average
Fair Value Inputs Assets Quantitative Information [Line Items]
Derivative liability, measurement input	0.018

FAIR VALUE MEASUREMENTS - Lev_2

FAIR VALUE MEASUREMENTS - Level 3 for financial instruments measured at fair value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	$ 152,468	$ 155,830
Transfers into Level 3	0	10,010
Transfers out of Level 3	(25,307)	(4,279)
Included in net income	22,683	5,033
Included in OCI	(3,840)	5,752
Purchases	22,500	47,577
Sales	(54,244)	(11,555)
Settlements/ distributions	(54,977)	(55,900)
Closing balance	59,283	152,468
Change in unrealized investment gain/(loss) relating to assets held at the reporting date	4,951	5,714
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	10,299	11,510
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Included in earnings	(627)	(1,211)
Included in OCI	0	0
Purchases	0	0
Sales	0	0
Settlements/ distributions	0	0
Closing balance	9,672	10,299
Change in unrealized investment gain/(loss) relating to liabilities held at the reporting date	(627)	(1,211)
Fixed maturities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	86,679	52,897
Transfers into Level 3	0	10,010
Transfers out of Level 3	(25,307)	(4,279)
Included in net income	4,790	(591)
Included in OCI	(3,840)	5,752
Purchases	0	44,467
Sales	(6,068)	(7,446)
Settlements/ distributions	(48,233)	(14,131)
Closing balance	8,021	86,679
Change in unrealized investment gain/(loss) relating to assets held at the reporting date	0	0
Corporate debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	49,012	52,897
Transfers into Level 3	0	2,935
Transfers out of Level 3	0	(4,279)
Included in net income	4,790	(591)
Included in OCI	(4,168)	6,343
Purchases	0	10,267
Sales	(6,068)	(7,446)
Settlements/ distributions	(41,269)	(11,114)
Closing balance	2,297	49,012
Change in unrealized investment gain/(loss) relating to assets held at the reporting date	0	0
CMBS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	19,134	0
Transfers into Level 3	0	5,096
Transfers out of Level 3	(7,077)	0
Included in net income	0	0
Included in OCI	142	(145)
Purchases	0	17,200
Sales	0	0
Settlements/ distributions	(6,964)	(3,017)
Closing balance	5,235	19,134
Change in unrealized investment gain/(loss) relating to assets held at the reporting date	0	0
ABS
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	18,533	0
Transfers into Level 3	0	1,979
Transfers out of Level 3	(18,230)	0
Included in net income	0	0
Included in OCI	186	(446)
Purchases	0	17,000
Sales	0	0
Settlements/ distributions	0	0
Closing balance	489	18,533
Change in unrealized investment gain/(loss) relating to assets held at the reporting date	0	0
Other investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	65,789	77,843
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Included in net income	17,893	5,714
Included in OCI	0	0
Purchases	22,500	3,110
Sales	(48,176)	(4,109)
Settlements/ distributions	(6,744)	(16,769)
Closing balance	51,262	65,789
Change in unrealized investment gain/(loss) relating to assets held at the reporting date	4,951	5,714
Other privately held investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	44,518	46,430
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Included in net income	18,092	(913)
Included in OCI	0	0
Purchases	22,500	3,110
Sales	(48,176)	(4,109)
Settlements/ distributions	0	0
Closing balance	36,934	44,518
Change in unrealized investment gain/(loss) relating to assets held at the reporting date	5,150	(913)
CLO-Equities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	21,271	31,413
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Included in net income	(199)	6,627
Included in OCI	0	0
Purchases	0	0
Sales	0	0
Settlements/ distributions	(6,744)	(16,769)
Closing balance	14,328	21,271
Change in unrealized investment gain/(loss) relating to assets held at the reporting date	(199)	6,627
Other assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	0	25,090
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Included in net income	0	(90)
Included in OCI	0	0
Purchases	0	0
Sales	0	0
Settlements/ distributions	0	(25,000)
Closing balance	0	0
Change in unrealized investment gain/(loss) relating to assets held at the reporting date	0	0
Insurance-linked securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	0	25,090
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Included in net income	0	(90)
Included in OCI	0	0
Purchases	0	0
Sales	0	0
Settlements/ distributions	0	(25,000)
Closing balance	0	0
Change in unrealized investment gain/(loss) relating to assets held at the reporting date	0	0
Derivative instruments
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	10,299	11,510
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Included in earnings	(627)	(1,211)
Included in OCI	0	0
Purchases	0	0
Sales	0	0
Settlements/ distributions	0	0
Closing balance	9,672	10,299
Change in unrealized investment gain/(loss) relating to liabilities held at the reporting date	$ (627)	$ (1,211)

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) $ in Millions	Dec. 31, 2019USD ($)hedge_fund	Dec. 31, 2018USD ($)
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Number of hedge funds with reporting lag | hedge_fund	2
Percentage of funds reported on a lag	68.00%	61.00%
Reported Value Measurement
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior notes	$ 1,808	$ 1,342
Estimate of Fair Value
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior notes	$ 1,896	$ 1,334

DERIVATIVE INSTRUMENTS - Balan

DERIVATIVE INSTRUMENTS - Balance sheet classification of derivatives recorded at fair value (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Asset derivative fair value	$ 3,174	$ 8,237
Liability derivative fair value	13,637	14,522
Not Designated as Hedging Instruments | Other assets
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Asset derivative fair value	3,174	8,237
Not Designated as Hedging Instruments | Other liabilities
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Liability derivative fair value	13,637	14,522
Not Designated as Hedging Instruments | Investment Portfolio | Foreign exchange forward contracts
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Derivative notional amount	68,998	79,336
Not Designated as Hedging Instruments | Investment Portfolio | Foreign exchange forward contracts | Other assets
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Asset derivative fair value	0	262
Not Designated as Hedging Instruments | Investment Portfolio | Foreign exchange forward contracts | Other liabilities
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Liability derivative fair value	1,405	531
Not Designated as Hedging Instruments | Investment Portfolio | Interest rate swaps
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Derivative notional amount	0	150,000
Not Designated as Hedging Instruments | Investment Portfolio | Interest rate swaps | Other assets
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Asset derivative fair value	0	0
Not Designated as Hedging Instruments | Investment Portfolio | Interest rate swaps | Other liabilities
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Liability derivative fair value	0	1,116
Not Designated as Hedging Instruments | Underwriting Portfolio | Foreign exchange forward contracts
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Derivative notional amount	1,038,630	737,419
Not Designated as Hedging Instruments | Underwriting Portfolio | Foreign exchange forward contracts | Other assets
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Asset derivative fair value	3,174	7,975
Not Designated as Hedging Instruments | Underwriting Portfolio | Foreign exchange forward contracts | Other liabilities
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Liability derivative fair value	2,560	2,576
Not Designated as Hedging Instruments | Underwriting Portfolio | Other underwriting-related derivatives
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Derivative notional amount	85,000	85,000
Not Designated as Hedging Instruments | Underwriting Portfolio | Other underwriting-related derivatives | Other assets
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Asset derivative fair value	0	0
Not Designated as Hedging Instruments | Underwriting Portfolio | Other underwriting-related derivatives | Other liabilities
Derivative Fair Values on Consolidated Balance Sheet [Line Items]
Liability derivative fair value	$ 9,672	$ 10,299

DERIVATIVE INSTRUMENTS - Offse

DERIVATIVE INSTRUMENTS - Offsetting assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Derivative assets
Gross amounts	$ 7,673	$ 11,967
Gross amounts offset	(4,499)	(3,730)
Net Amounts	3,174	8,237
Derivative liabilities
Gross amounts	18,136	18,252
Gross amounts offset	(4,499)	(3,730)
Net Amounts	$ 13,637	$ 14,522

DERIVATIVE INSTRUMENTS - Unrea

DERIVATIVE INSTRUMENTS - Unrealized and realized gains (losses) recognized in earnings for derivatives (Details) - Not Designated as Hedging Instruments - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Unrealized and Realized Gains (Losses) Recognized in Earnings for Derivatives Not Designated As Hedges [Line Items]
Unrealized and realized gains (losses) recognized in earnings for derivatives not designated as hedges	$ (10,712)	$ 4,320	$ 8,961
Investment Portfolio | Foreign exchange forward contracts | Net investment gains (losses)
Unrealized and Realized Gains (Losses) Recognized in Earnings for Derivatives Not Designated As Hedges [Line Items]
Unrealized and realized gains (losses) recognized in earnings for derivatives not designated as hedges	1,854	3,446	(6,935)
Investment Portfolio | Interest rate swaps | Net investment gains (losses)
Unrealized and Realized Gains (Losses) Recognized in Earnings for Derivatives Not Designated As Hedges [Line Items]
Unrealized and realized gains (losses) recognized in earnings for derivatives not designated as hedges	(3,677)	1,999	(1,334)
Underwriting Portfolio | Foreign exchange forward contracts | Foreign exchange gains (losses)
Unrealized and Realized Gains (Losses) Recognized in Earnings for Derivatives Not Designated As Hedges [Line Items]
Unrealized and realized gains (losses) recognized in earnings for derivatives not designated as hedges	(10,678)	(3,509)	25,383
Underwriting Portfolio | Weather-related contracts | Other insurance related income (losses)
Unrealized and Realized Gains (Losses) Recognized in Earnings for Derivatives Not Designated As Hedges [Line Items]
Unrealized and realized gains (losses) recognized in earnings for derivatives not designated as hedges	0	0	(9,629)
Underwriting Portfolio | Other underwriting-related derivatives | Other insurance related income (losses)
Unrealized and Realized Gains (Losses) Recognized in Earnings for Derivatives Not Designated As Hedges [Line Items]
Unrealized and realized gains (losses) recognized in earnings for derivatives not designated as hedges	$ 1,789	$ 2,384	$ 1,476

RESERVE FOR LOSSES AND LOSS E_3

RESERVE FOR LOSSES AND LOSS EXPENSES - Narrative (Details)	12 Months Ended
	Dec. 31, 2019	Aug. 05, 2019	Mar. 20, 2017	Mar. 19, 2017
Minimum
Claims Development [Line Items]
Development for an accident year or underwriting year, recognition period	1 year
Maximum
Claims Development [Line Items]
Development for an accident year or underwriting year, recognition period	3 years
Motor Reserve Class | Reinsurance
Claims Development [Line Items]
Discount rate		0.25%	0.75%	(2.50%)

RESERVE FOR LOSSES AND LOSS E_4

RESERVE FOR LOSSES AND LOSS EXPENSES - Reserve for losses and loss expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Insurance Loss Reserves [Abstract]
Reserve for reported losses and loss expenses	$ 4,860,916	$ 4,626,204
Reserve for losses incurred but not reported	7,891,165	7,654,565
Reserve for losses and loss expenses	$ 12,752,081	$ 12,280,769	$ 12,997,553	$ 9,697,827

RESERVE FOR LOSSES AND LOSS E_5

RESERVE FOR LOSSES AND LOSS EXPENSES - Reserve Roll-Forward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Beginning and Ending Gross Unpaid Losses and Loss Expenses
Gross reserve for losses and loss expenses, beginning of year	$ 12,280,769	$ 12,997,553	$ 9,697,827
Less reinsurance recoverable on unpaid losses, beginning of year	(3,501,669)	(3,159,514)	(2,276,109)
Net reserve for unpaid losses and loss expenses, beginning of year	8,779,100	9,838,039	7,421,718
Net incurred losses and loss expenses related to:
Current year	3,123,698	3,389,949	3,487,826
Prior years	(78,900)	(199,662)	(200,054)
Net incurred losses and loss expenses	3,044,798	3,190,287	3,287,772
Net paid losses and loss expenses related to:
Current year	(598,988)	(724,199)	(703,796)
Prior years	(2,371,637)	(2,368,615)	(1,880,882)
Net paid losses and loss expenses	(2,970,625)	(3,092,814)	(2,584,678)
Foreign exchange and other	21,052	(1,156,412)	1,713,227
Net reserve for unpaid losses and loss expenses, end of year	8,874,325	8,779,100	9,838,039
Reinsurance recoverable on unpaid losses, end of year	3,877,756	3,501,669	3,159,514
Gross reserve for losses and loss expenses, end of year	$ 12,752,081	$ 12,280,769	$ 12,997,553

RESERVE FOR LOSSES AND LOSS E_6

RESERVE FOR LOSSES AND LOSS EXPENSES - Incurred losses narrative (Details) - USD ($) $ in Thousands	Feb. 13, 2017	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 15, 2019	Aug. 05, 2019	Apr. 16, 2018	Oct. 02, 2017	Apr. 01, 2017	Mar. 20, 2017	Mar. 19, 2017	Dec. 31, 2016
Additional Information Related to Net Incurred Losses [Line Items]
Net losses and loss expenses, net of reinstatement premiums										$ 3,123,698	$ 3,389,949	$ 3,487,826
Reinsurance recoverable on unpaid losses		$ 3,877,756				$ 3,501,669				3,877,756	3,501,669	3,159,514	$ 59,000		$ 108,000					$ 2,276,109
Reserve for losses and loss expenses		12,752,081				12,280,769				12,752,081	12,280,769	12,997,553								$ 9,697,827
Foreign exchange and other										(21,052)	1,156,412	(1,713,227)
Net favorable (adverse) prior year reserve development										78,900	199,662	200,054
Net premiums earned		$ 1,172,051	$ 1,157,307	$ 1,123,607	$ 1,134,212	$ 1,214,469	$ 1,224,075	$ 1,185,548	$ 1,167,402	4,587,178	4,791,495	4,148,760
Discontinued Operations, Disposed of by Means Other than Sale
Additional Information Related to Net Incurred Losses [Line Items]
Liability for unpaid claims and claims adjustment expense	$ (223,000)
Reduction in reinsurance recoverables on unpaid and paid loses by	$ 223,000
Novae
Additional Information Related to Net Incurred Losses [Line Items]
Interests acquired																100.00%
Reserve for losses and loss expenses												2,126,000
Reinsurance recoverable on unpaid and paid losses												788,000
Aviabel
Additional Information Related to Net Incurred Losses [Line Items]
Interests acquired																	100.00%
Reinsurance recoverable on unpaid and paid losses												5,000
Foreign exchange and other												79,000
Catastrophe and Weather-related Events
Additional Information Related to Net Incurred Losses [Line Items]
Net losses and loss expenses, net of reinstatement premiums										336,000	430,000	835,000
Short Tail Lines Insurance and Reinsurance Business
Additional Information Related to Net Incurred Losses [Line Items]
Net favorable (adverse) prior year reserve development										(85,000)	86,000	60,000
Syndicate 2007
Additional Information Related to Net Incurred Losses [Line Items]
Ceded reserves for losses and loss expenses											819,000
Insurance
Additional Information Related to Net Incurred Losses [Line Items]
Net favorable (adverse) prior year reserve development										53,302	92,806	60,459
Insurance | Short Tail Lines Insurance and Reinsurance Business
Additional Information Related to Net Incurred Losses [Line Items]
Net favorable (adverse) prior year reserve development										11,000
Reinsurance
Additional Information Related to Net Incurred Losses [Line Items]
Net favorable (adverse) prior year reserve development										25,598	106,856	139,595
Reinsurance | Short Tail Lines Insurance and Reinsurance Business
Additional Information Related to Net Incurred Losses [Line Items]
Net favorable (adverse) prior year reserve development										(133,000)
Professional lines | Insurance
Additional Information Related to Net Incurred Losses [Line Items]
Net favorable (adverse) prior year reserve development										12,000	32,000	26,000
Professional lines | Reinsurance
Additional Information Related to Net Incurred Losses [Line Items]
Net favorable (adverse) prior year reserve development											21,000	44,000
Credit and surety | Reinsurance
Additional Information Related to Net Incurred Losses [Line Items]
Net favorable (adverse) prior year reserve development										53,000	33,000	33,000
Liability Insurance Business | Insurance
Additional Information Related to Net Incurred Losses [Line Items]
Net favorable (adverse) prior year reserve development										(25,000)	(22,000)	(8,000)
Liability Insurance Business | Reinsurance
Additional Information Related to Net Incurred Losses [Line Items]
Net favorable (adverse) prior year reserve development										31,000	23,000	43,000
Marine | Insurance | Short Tail Lines Insurance and Reinsurance Business
Additional Information Related to Net Incurred Losses [Line Items]
Net favorable (adverse) prior year reserve development										33,000
Credit and political risk | Reinsurance
Additional Information Related to Net Incurred Losses [Line Items]
Net favorable (adverse) prior year reserve development										19,000
Motor Reserve Class | Reinsurance
Additional Information Related to Net Incurred Losses [Line Items]
Net favorable (adverse) prior year reserve development										71,000	23,000	1,000
Discount rate														0.25%				0.75%	(2.50%)
Operating Segments
Additional Information Related to Net Incurred Losses [Line Items]
Net premiums earned										4,587,178	4,791,495	4,148,760
Operating Segments | Insurance
Additional Information Related to Net Incurred Losses [Line Items]
Net premiums earned										2,190,084	2,362,606	1,816,438
Operating Segments | Reinsurance
Additional Information Related to Net Incurred Losses [Line Items]
Net premiums earned										2,397,094	2,428,889	2,332,322
Operating Segments | Professional lines | Insurance
Additional Information Related to Net Incurred Losses [Line Items]
Net premiums earned										661,250	570,241	519,759
Operating Segments | Professional lines | Reinsurance
Additional Information Related to Net Incurred Losses [Line Items]
Net premiums earned										206,328	220,687	226,622
Operating Segments | Marine | Insurance
Additional Information Related to Net Incurred Losses [Line Items]
Net premiums earned										281,764	300,944	181,533
Operating Segments | Credit and political risk | Insurance
Additional Information Related to Net Incurred Losses [Line Items]
Net premiums earned										91,698	102,825	56,432
Operating Segments | Accident and health | Insurance
Additional Information Related to Net Incurred Losses [Line Items]
Net premiums earned										144,499	207,777	199,121
Operating Segments | Accident and health | Reinsurance
Additional Information Related to Net Incurred Losses [Line Items]
Net premiums earned										$ 319,619	$ 299,813	$ 289,925

RESERVE FOR LOSSES AND LOSS E_7

RESERVE FOR LOSSES AND LOSS EXPENSES - Prior year development (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Liability for Claims and Claims Adjustment Expense [Line Items]
Net favorable prior year reserve development	$ 78,900	$ 199,662	$ 200,054
Insurance
Liability for Claims and Claims Adjustment Expense [Line Items]
Net favorable prior year reserve development	53,302	92,806	60,459
Reinsurance
Liability for Claims and Claims Adjustment Expense [Line Items]
Net favorable prior year reserve development	$ 25,598	$ 106,856	$ 139,595

RESERVE FOR LOSSES AND LOSS E_8

RESERVE FOR LOSSES AND LOSS EXPENSES - Incurred claims and allocated claim adjustment expenses, net of reinsurance (Details) $ in Thousands	Dec. 31, 2019USD ($)claim	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)	Dec. 31, 2011USD ($)	Dec. 31, 2010USD ($)
Insurance | Property and other
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 3,945,377
Insurance | Property and other | Accident Year 2010
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	114,355	$ 114,614	$ 115,712	$ 116,172	$ 116,477	$ 117,406	$ 122,897	$ 148,126	$ 155,512	$ 173,118
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 684
Cumulative number of reported claims | claim	4,423
Insurance | Property and other | Accident Year 2011
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 280,491	281,389	283,096	282,663	283,852	286,896	307,305	327,787	348,001
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ (18)
Cumulative number of reported claims | claim	6,350
Insurance | Property and other | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 342,017	352,048	352,879	358,598	363,171	383,228	400,995	391,031
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 497
Cumulative number of reported claims | claim	29,931
Insurance | Property and other | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 275,074	278,790	268,350	268,704	272,642	299,498	309,937
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 1,505
Cumulative number of reported claims | claim	53,191
Insurance | Property and other | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 326,638	328,252	329,251	344,878	355,495	360,874
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 3,990
Cumulative number of reported claims | claim	62,356
Insurance | Property and other | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 252,560	255,392	259,725	270,793	278,554
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 4,077
Cumulative number of reported claims | claim	48,424
Insurance | Property and other | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 356,353	369,508	377,820	351,075
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 6,011
Cumulative number of reported claims | claim	93,717
Insurance | Property and other | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 808,602	829,016	885,486
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 2,992
Cumulative number of reported claims | claim	697,983
Insurance | Property and other | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 759,300	721,266
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 41,900
Cumulative number of reported claims | claim	705,592
Insurance | Property and other | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 429,987
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 113,754
Cumulative number of reported claims | claim	445,460
Insurance | Marine
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 1,020,047
Insurance | Marine | Accident Year 2010
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	44,696	45,064	45,482	47,226	48,618	51,482	53,458	66,359	70,314	68,519
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 262
Cumulative number of reported claims | claim	3,197
Insurance | Marine | Accident Year 2011
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 68,330	69,011	68,318	66,156	65,921	65,973	72,875	78,807	90,776
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 976
Cumulative number of reported claims | claim	3,830
Insurance | Marine | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 62,447	73,002	74,797	72,238	71,211	69,075	83,138	89,712
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 2,718
Cumulative number of reported claims | claim	4,134
Insurance | Marine | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 81,070	82,073	82,487	97,250	96,164	100,757	79,578
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 1,174
Cumulative number of reported claims | claim	2,353
Insurance | Marine | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 47,574	46,030	44,420	48,586	44,576	59,686
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 4,249
Cumulative number of reported claims | claim	2,163
Insurance | Marine | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 117,587	129,914	137,180	141,317	160,063
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 3,079
Cumulative number of reported claims | claim	2,228
Insurance | Marine | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 71,161	76,511	78,762	86,386
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 4,020
Cumulative number of reported claims | claim	2,841
Insurance | Marine | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 166,796	170,775	173,222
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 27,726
Cumulative number of reported claims | claim	3,976
Insurance | Marine | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 191,005	182,232
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 45,347
Cumulative number of reported claims | claim	4,232
Insurance | Marine | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 169,381
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 94,818
Cumulative number of reported claims | claim	3,525
Insurance | Aviation
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 291,275
Insurance | Aviation | Accident Year 2010
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	8,836	8,868	8,525	8,741	8,695	8,766	9,745	11,420	11,698	12,917
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 48
Cumulative number of reported claims | claim	663
Insurance | Aviation | Accident Year 2011
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 6,952	7,192	7,234	7,277	8,424	9,555	12,781	15,391	17,724
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 118
Cumulative number of reported claims | claim	4,202
Insurance | Aviation | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 7,392	7,599	7,712	7,769	8,718	10,801	10,677	12,793
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 83
Cumulative number of reported claims | claim	2,857
Insurance | Aviation | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 16,763	15,470	15,585	15,249	15,205	16,330	15,652
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 255
Cumulative number of reported claims | claim	3,017
Insurance | Aviation | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 19,088	21,847	21,789	24,349	23,033	20,435
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 493
Cumulative number of reported claims | claim	3,529
Insurance | Aviation | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 27,512	29,567	29,833	28,502	29,782
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 299
Cumulative number of reported claims | claim	4,140
Insurance | Aviation | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 31,723	33,658	33,502	29,173
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 606
Cumulative number of reported claims | claim	4,062
Insurance | Aviation | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 66,896	62,035	55,581
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 3,747
Cumulative number of reported claims | claim	4,272
Insurance | Aviation | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 63,753	57,990
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 6,841
Cumulative number of reported claims | claim	4,258
Insurance | Aviation | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 42,360
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 11,632
Cumulative number of reported claims | claim	2,305
Insurance | Credit and political risk
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 395,724
Insurance | Credit and political risk | Accident Year 2010
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	99,633	99,423	90,888	72,104	65,014	64,980	65,597	63,259	63,179	62,415
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 339
Cumulative number of reported claims | claim	6
Insurance | Credit and political risk | Accident Year 2011
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 27,904	27,904	33,609	45,036	48,333	48,361	47,706	48,665	58,154
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 268
Cumulative number of reported claims | claim	4
Insurance | Credit and political risk | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 198	198	46	10,322	12,447	12,435	15,672	32,602
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 155
Cumulative number of reported claims | claim	4
Insurance | Credit and political risk | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 12,377	14,067	14,942	9,880	9,759	25,684	26,439
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 4,070
Cumulative number of reported claims | claim	1
Insurance | Credit and political risk | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 71,274	69,589	68,324	67,109	70,713	38,825
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 2,822
Cumulative number of reported claims | claim	6
Insurance | Credit and political risk | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 25,930	26,012	27,524	30,368	30,329
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 2,621
Cumulative number of reported claims | claim	2
Insurance | Credit and political risk | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 42,972	42,401	44,891	45,391
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 18,275
Cumulative number of reported claims | claim	1
Insurance | Credit and political risk | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 28,209	34,765	36,751
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 17,808
Cumulative number of reported claims | claim	3
Insurance | Credit and political risk | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 36,618	47,215
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 12,576
Cumulative number of reported claims | claim	1
Insurance | Credit and political risk | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 50,609
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 33,702
Cumulative number of reported claims | claim	5
Insurance | Professional lines
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 3,490,705
Insurance | Professional lines | Accident Year 2010
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	185,116	187,464	167,917	180,704	158,729	183,237	206,406	234,655	237,156	232,002
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 17,194
Cumulative number of reported claims | claim	5,698
Insurance | Professional lines | Accident Year 2011
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 350,066	352,792	352,309	343,911	330,773	326,663	333,914	315,326	313,520
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 28,007
Cumulative number of reported claims | claim	7,229
Insurance | Professional lines | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 351,283	353,182	364,443	362,534	375,549	376,603	375,164	328,397
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 34,964
Cumulative number of reported claims | claim	8,326
Insurance | Professional lines | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 334,398	356,261	354,190	364,851	398,059	396,819	383,432
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 49,144
Cumulative number of reported claims | claim	9,439
Insurance | Professional lines | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 353,994	371,407	391,952	421,093	411,232	412,523
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 76,580
Cumulative number of reported claims | claim	9,802
Insurance | Professional lines | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 344,239	357,646	382,679	376,865	377,129
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 87,707
Cumulative number of reported claims | claim	10,453
Insurance | Professional lines | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 359,813	358,368	351,990	349,030
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 105,971
Cumulative number of reported claims | claim	11,763
Insurance | Professional lines | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 437,528	397,760	378,746
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 197,748
Cumulative number of reported claims | claim	13,418
Insurance | Professional lines | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 374,683	361,490
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 217,867
Cumulative number of reported claims | claim	15,584
Insurance | Professional lines | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 399,585
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 348,212
Cumulative number of reported claims | claim	11,747
Insurance | Liability
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 1,336,252
Insurance | Liability | Accident Year 2010
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	107,420	104,042	104,465	105,438	98,529	100,133	98,853	98,642	94,222	79,398
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 12,287
Cumulative number of reported claims | claim	4,029
Insurance | Liability | Accident Year 2011
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 85,036	82,657	82,312	84,079	85,792	87,770	83,925	75,329	72,580
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 14,042
Cumulative number of reported claims | claim	3,571
Insurance | Liability | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 67,237	72,727	75,697	68,658	71,474	74,134	71,683	70,887
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 18,015
Cumulative number of reported claims | claim	3,188
Insurance | Liability | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 91,941	95,981	93,681	88,241	95,174	95,306	93,233
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 16,997
Cumulative number of reported claims | claim	3,568
Insurance | Liability | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 131,474	132,019	130,672	129,764	124,303	107,133
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 22,710
Cumulative number of reported claims | claim	4,865
Insurance | Liability | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 183,088	165,073	137,568	127,353	128,437
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 43,822
Cumulative number of reported claims | claim	6,225
Insurance | Liability | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 127,528	128,911	130,188	124,323
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 53,401
Cumulative number of reported claims | claim	7,068
Insurance | Liability | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 183,793	166,573	162,446
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 76,834
Cumulative number of reported claims | claim	6,710
Insurance | Liability | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 167,614	168,146
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 95,288
Cumulative number of reported claims | claim	5,454
Insurance | Liability | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 191,121
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 165,431
Cumulative number of reported claims | claim	3,714
Reinsurance | Property and other
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	$ 7,226,127
Reinsurance | Property and other | Accident Year 2010
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	566,112	567,879	568,725	570,796	578,740	584,942	581,838	570,057	601,243	614,748
Total of incurred-but-not-reported liabilities plus expected development on reported claims	3,070
Reinsurance | Property and other | Accident Year 2011
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	1,041,771	1,040,759	1,039,379	1,041,136	1,067,100	1,084,197	1,116,042	1,116,669	1,111,563
Total of incurred-but-not-reported liabilities plus expected development on reported claims	7,782
Reinsurance | Property and other | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	454,281	457,531	456,127	461,152	476,989	507,619	523,208	555,459
Total of incurred-but-not-reported liabilities plus expected development on reported claims	2,860
Reinsurance | Property and other | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	499,736	503,026	503,539	509,526	529,856	560,658	578,725
Total of incurred-but-not-reported liabilities plus expected development on reported claims	1,904
Reinsurance | Property and other | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	519,529	520,299	522,102	534,618	560,775	542,601
Total of incurred-but-not-reported liabilities plus expected development on reported claims	40,234
Reinsurance | Property and other | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	450,182	454,225	459,487	464,588	477,301
Total of incurred-but-not-reported liabilities plus expected development on reported claims	6,030
Reinsurance | Property and other | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	618,643	622,331	635,164	616,621
Total of incurred-but-not-reported liabilities plus expected development on reported claims	11,017
Reinsurance | Property and other | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	1,107,597	1,081,415	1,076,967
Total of incurred-but-not-reported liabilities plus expected development on reported claims	75,459
Reinsurance | Property and other | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	1,008,505	882,829
Total of incurred-but-not-reported liabilities plus expected development on reported claims	166,887
Reinsurance | Property and other | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	959,771
Total of incurred-but-not-reported liabilities plus expected development on reported claims	729,042
Reinsurance | Professional lines
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	1,862,842
Reinsurance | Professional lines | Accident Year 2010
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	167,376	166,044	179,762	189,415	196,939	214,185	214,417	211,361	210,173	209,934
Total of incurred-but-not-reported liabilities plus expected development on reported claims	5,701
Reinsurance | Professional lines | Accident Year 2011
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	166,951	177,405	200,437	208,219	209,088	211,367	202,620	201,364	201,013
Total of incurred-but-not-reported liabilities plus expected development on reported claims	6,047
Reinsurance | Professional lines | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	206,791	213,984	212,594	222,626	223,926	221,544	216,088	209,548
Total of incurred-but-not-reported liabilities plus expected development on reported claims	18,318
Reinsurance | Professional lines | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	181,563	205,733	213,182	213,745	215,562	214,396	209,292
Total of incurred-but-not-reported liabilities plus expected development on reported claims	35,871
Reinsurance | Professional lines | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	230,042	233,611	219,242	219,345	219,415	219,376
Total of incurred-but-not-reported liabilities plus expected development on reported claims	27,940
Reinsurance | Professional lines | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	231,980	225,139	214,344	212,024	212,031
Total of incurred-but-not-reported liabilities plus expected development on reported claims	63,050
Reinsurance | Professional lines | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	227,952	200,020	196,293	195,190
Total of incurred-but-not-reported liabilities plus expected development on reported claims	67,496
Reinsurance | Professional lines | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	162,116	155,759	155,137
Total of incurred-but-not-reported liabilities plus expected development on reported claims	72,727
Reinsurance | Professional lines | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	148,921	146,387
Total of incurred-but-not-reported liabilities plus expected development on reported claims	132,683
Reinsurance | Professional lines | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	139,150
Total of incurred-but-not-reported liabilities plus expected development on reported claims	130,571
Reinsurance | Liability
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	2,136,911
Reinsurance | Liability | Accident Year 2010
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	156,113	159,230	165,983	181,962	190,921	202,007	183,715	183,347	171,775	172,823
Total of incurred-but-not-reported liabilities plus expected development on reported claims	13,119
Reinsurance | Liability | Accident Year 2011
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	189,014	191,873	193,784	194,604	197,766	191,668	173,984	172,201	172,189
Total of incurred-but-not-reported liabilities plus expected development on reported claims	16,614
Reinsurance | Liability | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	158,342	164,309	170,979	173,501	172,341	167,366	162,945	166,386
Total of incurred-but-not-reported liabilities plus expected development on reported claims	16,994
Reinsurance | Liability | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	157,236	177,112	183,915	184,240	182,201	175,174	171,271
Total of incurred-but-not-reported liabilities plus expected development on reported claims	24,545
Reinsurance | Liability | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	197,187	199,340	200,557	204,657	202,939	199,433
Total of incurred-but-not-reported liabilities plus expected development on reported claims	53,905
Reinsurance | Liability | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	213,662	215,889	216,061	215,099	214,735
Total of incurred-but-not-reported liabilities plus expected development on reported claims	67,030
Reinsurance | Liability | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	254,154	250,868	245,820	240,440
Total of incurred-but-not-reported liabilities plus expected development on reported claims	99,784
Reinsurance | Liability | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	279,172	270,589	276,929
Total of incurred-but-not-reported liabilities plus expected development on reported claims	133,392
Reinsurance | Liability | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	268,506	264,570
Total of incurred-but-not-reported liabilities plus expected development on reported claims	168,425
Reinsurance | Liability | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	263,525
Total of incurred-but-not-reported liabilities plus expected development on reported claims	214,542
Reinsurance | Credit and surety
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	1,126,325
Reinsurance | Credit and surety | Accident Year 2010
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	71,911	73,672	74,913	76,937	78,247	85,856	90,029	92,848	99,460	119,180
Total of incurred-but-not-reported liabilities plus expected development on reported claims	1,751
Reinsurance | Credit and surety | Accident Year 2011
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	95,813	98,885	99,412	101,236	109,662	111,485	104,616	106,495	120,572
Total of incurred-but-not-reported liabilities plus expected development on reported claims	2,439
Reinsurance | Credit and surety | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	124,552	127,576	131,120	139,097	147,406	150,137	147,627	159,507
Total of incurred-but-not-reported liabilities plus expected development on reported claims	3,883
Reinsurance | Credit and surety | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	124,674	124,533	135,762	139,886	143,719	152,467	164,207
Total of incurred-but-not-reported liabilities plus expected development on reported claims	3,546
Reinsurance | Credit and surety | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	126,397	127,683	139,015	142,703	135,525	136,419
Total of incurred-but-not-reported liabilities plus expected development on reported claims	6,726
Reinsurance | Credit and surety | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	137,848	156,635	160,675	165,861	160,132
Total of incurred-but-not-reported liabilities plus expected development on reported claims	8,335
Reinsurance | Credit and surety | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	123,366	148,943	141,128	141,639
Total of incurred-but-not-reported liabilities plus expected development on reported claims	9,849
Reinsurance | Credit and surety | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	126,786	132,618	135,040
Total of incurred-but-not-reported liabilities plus expected development on reported claims	22,830
Reinsurance | Credit and surety | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	120,289	111,692
Total of incurred-but-not-reported liabilities plus expected development on reported claims	38,357
Reinsurance | Credit and surety | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	74,689
Total of incurred-but-not-reported liabilities plus expected development on reported claims	39,291
Reinsurance | Motor
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	2,182,564
Reinsurance | Motor | Accident Year 2010
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	80,028	80,901	83,112	86,803	96,235	101,343	107,264	108,183	107,538	$ 100,219
Total of incurred-but-not-reported liabilities plus expected development on reported claims	21,660
Reinsurance | Motor | Accident Year 2011
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	136,077	143,846	148,536	159,626	168,225	172,062	166,112	162,069	$ 158,475
Total of incurred-but-not-reported liabilities plus expected development on reported claims	18,030
Reinsurance | Motor | Accident Year 2012
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	126,507	134,685	137,585	147,041	151,899	159,446	170,848	$ 180,137
Total of incurred-but-not-reported liabilities plus expected development on reported claims	15,534
Reinsurance | Motor | Accident Year 2013
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	126,050	135,003	137,791	141,237	150,620	162,475	$ 164,927
Total of incurred-but-not-reported liabilities plus expected development on reported claims	13,828
Reinsurance | Motor | Accident Year 2014
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	171,403	174,719	179,510	182,237	186,947	$ 185,279
Total of incurred-but-not-reported liabilities plus expected development on reported claims	6,302
Reinsurance | Motor | Accident Year 2015
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	216,610	227,844	226,319	222,178	$ 225,974
Total of incurred-but-not-reported liabilities plus expected development on reported claims	12,291
Reinsurance | Motor | Accident Year 2016
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	259,959	270,264	268,525	$ 249,616
Total of incurred-but-not-reported liabilities plus expected development on reported claims	21,855
Reinsurance | Motor | Accident Year 2017
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	362,721	380,509	$ 370,778
Total of incurred-but-not-reported liabilities plus expected development on reported claims	50,597
Reinsurance | Motor | Accident Year 2018
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	363,733	$ 363,917
Total of incurred-but-not-reported liabilities plus expected development on reported claims	83,024
Reinsurance | Motor | Accident Year 2019
Claims Development [Line Items]
Incurred claims and allocated claim adjustment expenses, net of reinsurance	339,476
Total of incurred-but-not-reported liabilities plus expected development on reported claims	$ 165,127

RESERVE FOR LOSSES AND LOSS E_9

RESERVE FOR LOSSES AND LOSS EXPENSES - Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Claims Development [Line Items]
Liabilities for claims and claim adjustment expenses, net of reinsurance	$ 8,862,564
Insurance
Claims Development [Line Items]
Liabilities for claims and claim adjustment expenses, net of reinsurance	3,534,458
Insurance | Property and other
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	3,371,989
All outstanding liabilities before 2010, net of reinsurance	6,225
Liabilities for claims and claim adjustment expenses, net of reinsurance	579,613
Insurance | Property and other | Accident Year 2010
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	110,970	$ 110,990	$ 110,656	$ 110,612	$ 110,819	$ 110,745	$ 106,531	$ 95,726	$ 87,604	$ 48,995
Insurance | Property and other | Accident Year 2011
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	272,372	272,402	271,960	271,287	271,483	272,530	250,251	193,949	85,346
Insurance | Property and other | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	315,703	313,602	313,529	308,368	300,845	277,909	213,961	77,461
Insurance | Property and other | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	264,607	262,819	259,787	248,746	237,714	198,955	75,831
Insurance | Property and other | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	318,866	317,697	313,360	306,221	259,679	132,872
Insurance | Property and other | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	242,270	241,586	227,237	202,649	99,120
Insurance | Property and other | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	338,243	329,709	289,711	123,640
Insurance | Property and other | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	744,285	628,364	253,400
Insurance | Property and other | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	577,243	284,651
Insurance | Property and other | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	187,430
Insurance | Marine
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	673,651
All outstanding liabilities before 2010, net of reinsurance	4,296
Liabilities for claims and claim adjustment expenses, net of reinsurance	350,692
Insurance | Marine | Accident Year 2010
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	43,377	43,372	43,286	46,918	45,944	45,159	42,325	33,296	28,603	18,017
Insurance | Marine | Accident Year 2011
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	67,523	67,046	65,000	60,689	59,976	58,132	55,029	44,274	26,453
Insurance | Marine | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	55,950	54,863	52,841	50,448	49,631	44,884	38,594	10,708
Insurance | Marine | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	76,900	76,753	65,717	63,034	54,777	43,958	18,856
Insurance | Marine | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	40,895	36,020	26,930	26,905	15,179	6,357
Insurance | Marine | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	112,617	111,212	108,312	54,958	21,433
Insurance | Marine | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	63,333	57,314	31,817	12,487
Insurance | Marine | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	92,773	68,411	14,515
Insurance | Marine | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	84,834	25,153
Insurance | Marine | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	35,449
Insurance | Aviation
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	211,595
All outstanding liabilities before 2010, net of reinsurance	7,260
Liabilities for claims and claim adjustment expenses, net of reinsurance	86,940
Insurance | Aviation | Accident Year 2010
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	8,574	8,391	8,198	8,109	7,666	7,548	6,883	6,309	4,126	1,032
Insurance | Aviation | Accident Year 2011
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	6,222	6,177	6,035	5,814	5,564	5,030	4,513	2,822	639
Insurance | Aviation | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	7,102	7,166	7,053	6,831	5,948	4,152	2,861	954
Insurance | Aviation | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	14,487	14,167	13,560	11,450	9,749	7,328	4,400
Insurance | Aviation | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	14,848	14,485	13,849	11,692	8,023	3,988
Insurance | Aviation | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	24,676	23,217	20,959	16,159	8,085
Insurance | Aviation | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	27,820	26,259	19,279	10,412
Insurance | Aviation | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	50,642	40,159	21,105
Insurance | Aviation | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	40,368	21,442
Insurance | Aviation | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	16,856
Insurance | Credit and political risk
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	294,917
All outstanding liabilities before 2010, net of reinsurance	(2,588)
Liabilities for claims and claim adjustment expenses, net of reinsurance	98,219
Insurance | Credit and political risk | Accident Year 2010
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	101,262	102,522	102,203	102,157	101,951	101,789	106,768	90,729	85,418	50,000
Insurance | Credit and political risk | Accident Year 2011
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	27,636	27,636	27,636	27,636	27,636	27,636	27,636	37,205	32,788
Insurance | Credit and political risk | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	43	43	41	39	0	0	0	0
Insurance | Credit and political risk | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	13,828	13,828	11,769	5,216	3,726	2,235	745
Insurance | Credit and political risk | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	64,050	57,858	57,858	61,108	39,952	1,924
Insurance | Credit and political risk | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	23,309	23,309	23,309	23,309	0
Insurance | Credit and political risk | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	24,697	24,697	24,697	0
Insurance | Credit and political risk | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	11,019	5,593	1,523
Insurance | Credit and political risk | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	13,545	4,937
Insurance | Credit and political risk | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	15,528
Insurance | Professional lines
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	1,875,919
All outstanding liabilities before 2010, net of reinsurance	65,486
Liabilities for claims and claim adjustment expenses, net of reinsurance	1,680,272
Insurance | Professional lines | Accident Year 2010
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	142,788	136,510	114,520	109,540	99,039	88,558	72,592	53,493	27,806	7,807
Insurance | Professional lines | Accident Year 2011
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	302,151	294,678	283,510	238,401	165,806	108,598	74,461	32,897	7,402
Insurance | Professional lines | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	281,715	273,383	253,958	230,913	184,191	100,089	41,328	7,818
Insurance | Professional lines | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	263,325	242,860	213,225	175,835	129,671	73,077	17,690
Insurance | Professional lines | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	242,899	223,838	192,405	130,039	70,662	23,529
Insurance | Professional lines | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	203,542	169,555	137,738	67,725	20,197
Insurance | Professional lines | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	192,459	147,370	71,245	15,859
Insurance | Professional lines | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	139,143	71,779	20,946
Insurance | Professional lines | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	81,986	20,091
Insurance | Professional lines | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	25,911
Insurance | Liability
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	648,147
All outstanding liabilities before 2010, net of reinsurance	50,617
Liabilities for claims and claim adjustment expenses, net of reinsurance	738,722
Insurance | Liability | Accident Year 2010
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	88,476	88,007	86,454	71,803	66,129	61,044	53,594	30,800	15,977	1,030
Insurance | Liability | Accident Year 2011
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	67,114	62,150	60,261	54,996	46,074	38,377	20,190	10,540	2,761
Insurance | Liability | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	48,034	46,540	42,740	37,139	30,145	15,411	5,514	1,663
Insurance | Liability | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	71,982	66,963	60,004	42,049	33,319	23,280	2,359
Insurance | Liability | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	93,574	84,374	71,595	49,836	18,640	1,414
Insurance | Liability | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	120,216	92,664	39,637	22,392	5,438
Insurance | Liability | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	56,446	36,385	23,280	6,319
Insurance | Liability | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	59,356	29,564	5,439
Insurance | Liability | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	35,612	9,027
Insurance | Liability | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	7,337
Reinsurance
Claims Development [Line Items]
Liabilities for claims and claim adjustment expenses, net of reinsurance	5,328,106
Reinsurance | Property and other
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	5,596,838
All outstanding liabilities before 2010, net of reinsurance	14,757
Liabilities for claims and claim adjustment expenses, net of reinsurance	1,644,046
Reinsurance | Property and other | Accident Year 2010
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	546,691	542,590	540,312	534,590	509,769	480,734	434,908	404,287	311,052	116,132
Reinsurance | Property and other | Accident Year 2011
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	1,019,917	1,013,858	1,011,283	996,481	923,166	893,746	794,575	587,047	251,855
Reinsurance | Property and other | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	428,152	415,634	413,594	403,926	389,373	366,968	294,298	122,823
Reinsurance | Property and other | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	483,105	482,480	481,066	471,380	441,138	324,839	107,628
Reinsurance | Property and other | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	463,342	458,350	452,193	434,769	352,883	102,356
Reinsurance | Property and other | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	413,477	400,980	368,698	265,896	71,477
Reinsurance | Property and other | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	563,781	520,779	376,920	128,126
Reinsurance | Property and other | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	868,458	723,826	252,360
Reinsurance | Property and other | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	648,622	195,707
Reinsurance | Property and other | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	161,293
Reinsurance | Professional lines
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	945,996
All outstanding liabilities before 2010, net of reinsurance	52,321
Liabilities for claims and claim adjustment expenses, net of reinsurance	969,167
Reinsurance | Professional lines | Accident Year 2010
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	142,994	138,047	130,610	123,981	107,363	76,798	52,138	31,243	12,026	1,757
Reinsurance | Professional lines | Accident Year 2011
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	136,492	130,059	119,767	103,052	84,845	57,230	30,272	11,822	1,510
Reinsurance | Professional lines | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	145,866	131,853	107,224	85,972	53,629	29,622	10,392	778
Reinsurance | Professional lines | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	123,282	104,904	81,630	64,958	30,491	12,073	1,064
Reinsurance | Professional lines | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	147,194	109,239	74,577	48,854	13,073	2,019
Reinsurance | Professional lines | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	112,042	79,296	41,539	13,505	3,134
Reinsurance | Professional lines | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	95,283	52,617	20,534	1,768
Reinsurance | Professional lines | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	39,915	14,921	2,813
Reinsurance | Professional lines | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	2,593	271
Reinsurance | Professional lines | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	335
Reinsurance | Liability
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	989,389
All outstanding liabilities before 2010, net of reinsurance	80,768
Liabilities for claims and claim adjustment expenses, net of reinsurance	1,228,290
Reinsurance | Liability | Accident Year 2010
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	130,566	128,386	119,678	108,748	97,430	83,792	62,287	46,199	17,652	2,479
Reinsurance | Liability | Accident Year 2011
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	141,483	135,627	123,403	112,347	92,477	70,083	40,009	21,291	5,197
Reinsurance | Liability | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	125,979	115,618	101,164	78,235	58,777	28,384	12,800	3,541
Reinsurance | Liability | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	113,127	102,593	88,262	69,055	52,328	22,235	5,971
Reinsurance | Liability | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	109,974	89,412	70,138	48,420	28,661	7,083
Reinsurance | Liability | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	108,961	80,865	54,517	27,455	7,270
Reinsurance | Liability | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	111,870	69,558	37,703	11,874
Reinsurance | Liability | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	78,477	42,147	12,438
Reinsurance | Liability | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	49,795	19,303
Reinsurance | Liability | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	19,157
Reinsurance | Credit and surety
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	886,173
All outstanding liabilities before 2010, net of reinsurance	16,847
Liabilities for claims and claim adjustment expenses, net of reinsurance	256,999
Reinsurance | Credit and surety | Accident Year 2010
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	65,781	65,346	65,024	64,020	62,585	61,466	59,804	59,074	48,274	28,190
Reinsurance | Credit and surety | Accident Year 2011
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	88,615	87,799	86,419	84,106	81,930	77,392	69,851	53,392	22,411
Reinsurance | Credit and surety | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	113,402	111,441	110,150	108,391	104,876	99,046	85,228	49,482
Reinsurance | Credit and surety | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	112,520	107,555	105,692	98,039	91,486	76,743	32,399
Reinsurance | Credit and surety | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	107,082	102,670	95,079	85,984	61,076	35,552
Reinsurance | Credit and surety | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	118,670	116,756	99,774	81,685	32,907
Reinsurance | Credit and surety | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	101,822	92,187	73,201	42,028
Reinsurance | Credit and surety | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	90,495	73,944	37,295
Reinsurance | Credit and surety | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	68,505	38,990
Reinsurance | Credit and surety | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	19,281
Reinsurance | Motor
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	1,146,305
All outstanding liabilities before 2010, net of reinsurance	193,345
Liabilities for claims and claim adjustment expenses, net of reinsurance	1,229,604
Reinsurance | Motor | Accident Year 2010
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	37,041	34,839	33,769	32,717	29,429	25,153	21,713	18,149	12,601	$ 7,201
Reinsurance | Motor | Accident Year 2011
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	94,155	92,201	91,165	86,466	80,349	73,562	62,861	47,991	$ 23,943
Reinsurance | Motor | Accident Year 2012
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	93,194	91,982	89,646	85,488	78,880	68,970	53,959	$ 29,381
Reinsurance | Motor | Accident Year 2013
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	93,234	90,165	84,512	78,744	68,502	54,274	$ 34,133
Reinsurance | Motor | Accident Year 2014
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	124,157	114,300	103,909	95,563	75,543	$ 43,628
Reinsurance | Motor | Accident Year 2015
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	149,813	133,528	115,903	95,172	$ 58,231
Reinsurance | Motor | Accident Year 2016
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	150,004	131,606	106,934	$ 61,321
Reinsurance | Motor | Accident Year 2017
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	168,855	137,217	$ 72,859
Reinsurance | Motor | Accident Year 2018
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	145,561	$ 84,564
Reinsurance | Motor | Accident Year 2019
Claims Development [Line Items]
Cumulative paid claims and allocated claim adjustment expenses, net of reinsurance	$ 90,291

RESERVE FOR LOSSES AND LOSS _10

RESERVE FOR LOSSES AND LOSS EXPENSES - Average annual percentage payout of incurred claims by age, net of reinsurance (Details)	Dec. 31, 2019
Insurance | Property and other
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	35.00%
Year 2	40.90%
Year 3	13.70%
Year 4	5.50%
Year 5	1.90%
Year 6	0.60%
Year 7	0.20%
Year 8	0.30%
Year 9	0.20%
Year 10	0.00%
Insurance | Marine
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	21.10%
Year 2	29.20%
Year 3	21.30%
Year 4	7.70%
Year 5	5.70%
Year 6	6.10%
Year 7	3.00%
Year 8	(1.10%)
Year 9	0.50%
Year 10	0.00%
Insurance | Aviation
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	24.80%
Year 2	27.40%
Year 3	19.40%
Year 4	10.40%
Year 5	8.10%
Year 6	2.70%
Year 7	2.90%
Year 8	0.70%
Year 9	1.40%
Year 10	2.10%
Insurance | Credit and political risk
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	22.60%
Year 2	33.60%
Year 3	4.00%
Year 4	3.40%
Year 5	11.30%
Year 6	5.30%
Year 7	0.30%
Year 8	0.00%
Year 9	0.20%
Year 10	(1.30%)
Insurance | Professional lines
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	4.70%
Year 2	12.80%
Year 3	16.60%
Year 4	13.90%
Year 5	11.40%
Year 6	9.50%
Year 7	7.60%
Year 8	2.80%
Year 9	7.00%
Year 10	3.40%
Insurance | Liability
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	3.10%
Year 2	12.90%
Year 3	13.80%
Year 4	19.30%
Year 5	11.80%
Year 6	7.60%
Year 7	5.70%
Year 8	6.00%
Year 9	3.60%
Year 10	0.40%
Reinsurance | Property and other
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	20.90%
Year 2	40.80%
Year 3	18.80%
Year 4	6.20%
Year 5	3.30%
Year 6	3.10%
Year 7	1.60%
Year 8	1.30%
Year 9	0.50%
Year 10	0.70%
Reinsurance | Professional lines
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	0.80%
Year 2	5.50%
Year 3	12.40%
Year 4	15.10%
Year 5	14.20%
Year 6	13.80%
Year 7	10.50%
Year 8	5.70%
Year 9	4.20%
Year 10	3.00%
Reinsurance | Liability
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	4.10%
Year 2	9.60%
Year 3	13.20%
Year 4	13.70%
Year 5	12.20%
Year 6	10.60%
Year 7	7.20%
Year 8	6.70%
Year 9	4.40%
Year 10	1.40%
Reinsurance | Credit and surety
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	30.20%
Year 2	28.80%
Year 3	14.60%
Year 4	6.60%
Year 5	3.90%
Year 6	2.10%
Year 7	2.40%
Year 8	1.50%
Year 9	0.70%
Year 10	0.60%
Reinsurance | Motor
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Year 1	22.30%
Year 2	16.40%
Year 3	10.10%
Year 4	6.90%
Year 5	5.50%
Year 6	4.70%
Year 7	3.00%
Year 8	1.00%
Year 9	1.40%
Year 10	2.80%

RESERVE FOR LOSSES AND LOSS _11

RESERVE FOR LOSSES AND LOSS EXPENSES - Reconciliation of development tables to consolidated balance sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Claims Development [Line Items]
Net outstanding liabilities	$ 8,862,564
Reinsurance recoverable on unpaid claims	3,877,756
Gross outstanding liabilities	12,740,320
Unallocated claims adjustment expenses	140,650
Foreign exchange and other	27,202
(Ceded)/assumed reserves related to retroactive transactions	(156,091)
Reserve for losses and loss expenses	12,752,081	$ 12,280,769	$ 12,997,553	$ 9,697,827
Insurance
Claims Development [Line Items]
Net outstanding liabilities	3,534,458
Reinsurance recoverable on unpaid claims	2,806,973
Gross outstanding liabilities	6,341,431
Insurance | Property and other
Claims Development [Line Items]
Net outstanding liabilities	579,613
Reinsurance recoverable on unpaid claims	358,193
Gross outstanding liabilities	937,806
Insurance | Marine
Claims Development [Line Items]
Net outstanding liabilities	350,692
Reinsurance recoverable on unpaid claims	164,005
Gross outstanding liabilities	514,697
Insurance | Aviation
Claims Development [Line Items]
Net outstanding liabilities	86,940
Reinsurance recoverable on unpaid claims	36,094
Gross outstanding liabilities	123,034
Insurance | Credit and political risk
Claims Development [Line Items]
Net outstanding liabilities	98,219
Reinsurance recoverable on unpaid claims	34,615
Gross outstanding liabilities	132,834
Insurance | Professional lines
Claims Development [Line Items]
Net outstanding liabilities	1,680,272
Reinsurance recoverable on unpaid claims	1,105,684
Gross outstanding liabilities	2,785,956
Insurance | Liability
Claims Development [Line Items]
Net outstanding liabilities	738,722
Reinsurance recoverable on unpaid claims	1,108,382
Gross outstanding liabilities	1,847,104
Reinsurance
Claims Development [Line Items]
Net outstanding liabilities	5,328,106
Reinsurance recoverable on unpaid claims	1,070,783
Gross outstanding liabilities	6,398,889
Reinsurance | Property and other
Claims Development [Line Items]
Net outstanding liabilities	1,644,046
Reinsurance recoverable on unpaid claims	448,885
Gross outstanding liabilities	2,092,931
Reinsurance | Credit and surety
Claims Development [Line Items]
Net outstanding liabilities	256,999
Reinsurance recoverable on unpaid claims	64,475
Gross outstanding liabilities	321,474
Reinsurance | Professional lines
Claims Development [Line Items]
Net outstanding liabilities	969,167
Reinsurance recoverable on unpaid claims	135,505
Gross outstanding liabilities	1,104,672
Reinsurance | Motor
Claims Development [Line Items]
Net outstanding liabilities	1,229,604
Reinsurance recoverable on unpaid claims	209,495
Gross outstanding liabilities	1,439,099
Reinsurance | Liability
Claims Development [Line Items]
Net outstanding liabilities	1,228,290
Reinsurance recoverable on unpaid claims	212,423
Gross outstanding liabilities	$ 1,440,713

REINSURANCE (Details)

REINSURANCE (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Premiums written
Gross									$ 6,898,858	$ 6,910,065	$ 5,556,273
Ceded									(2,409,243)	(2,251,103)	(1,529,130)
Net									4,489,615	4,658,962	4,027,143
Premiums earned
Gross									6,910,677	6,882,217	5,616,234
Ceded									(2,323,499)	(2,090,722)	(1,467,474)
Net	$ 1,172,051	$ 1,157,307	$ 1,123,607	$ 1,134,212	$ 1,214,469	$ 1,224,075	$ 1,185,548	$ 1,167,402	4,587,178	4,791,495	4,148,760
Reinsurance receivables:
Ceded losses and loss expenses									1,602,000	1,565,000	1,010,000
Provision for unrecoverable reinsurance	$ 18,000				$ 21,000				$ 18,000	$ 21,000	$ 17,000

DEBT AND FINANCING ARRANGEMEN_3

DEBT AND FINANCING ARRANGEMENTS - Debt (Details) - USD ($) $ in Thousands	Apr. 01, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 10, 2019	Jun. 19, 2019	Dec. 06, 2017	Mar. 13, 2014	Mar. 23, 2010
Debt Instrument [Line Items]
Debt		$ 1,808,157	$ 1,341,961
Repayment of notes payable		250,000	0	$ 67,242
AXIS Specialty Finance PLC
Debt Instrument [Line Items]
Percentage ownership in subsidiary	100.00%
Senior Notes | 5.875% Senior Notes
Debt Instrument [Line Items]
Debt		499,687	498,967
Interest rate									5.875%
Senior Notes | 2.650% Senior Notes
Debt Instrument [Line Items]
Debt		0	249,885
Senior Notes | 5.150% Senior Notes
Debt Instrument [Line Items]
Debt		246,491	246,425
Interest rate								5.15%
Senior Notes | 4.000% Senior Notes
Debt Instrument [Line Items]
Debt		346,997	346,684
Interest rate							4.00%
Senior Notes | 3.900% Senior Notes
Debt Instrument [Line Items]
Debt		295,339	0
Interest rate						3.90%
Senior Notes | 2010 AXIS Specialty Finance LLC Senior Notes
Debt Instrument [Line Items]
Interest rate	2.65%								5.875%
Senior Notes | AXIS Specialty Finance PLC | 2.65% Senior Notes
Debt Instrument [Line Items]
Repayment of notes payable	$ 250,000
Junior Subordinated Notes
Debt Instrument [Line Items]
Debt		$ 419,643	$ 0
Interest rate					4.90%

DEBT AND FINANCING ARRANGEMEN_4

DEBT AND FINANCING ARRANGEMENTS - Debt terms (Details) - USD ($) $ in Thousands	Dec. 10, 2019	Jun. 19, 2019	Dec. 06, 2017	Mar. 13, 2014	Mar. 23, 2010
Senior Notes | 5.875% Senior Notes
Debt Instrument [Line Items]
Aggregate Principal					$ 500,000
Issue Price					99.624%
Net Proceeds					$ 495,000
Interest rate					5.875%
Senior Notes | 5.150% Senior Notes
Debt Instrument [Line Items]
Aggregate Principal				$ 250,000
Issue Price				99.474%
Net Proceeds				$ 246,000
Interest rate				5.15%
Senior Notes | 4.000% Senior Notes
Debt Instrument [Line Items]
Aggregate Principal			$ 350,000
Issue Price			99.78%
Net Proceeds			$ 347,000
Interest rate			4.00%
Senior Notes | 3.900% Senior Notes
Debt Instrument [Line Items]
Aggregate Principal		$ 300,000
Issue Price		99.36%
Net Proceeds		$ 296,000
Interest rate		3.90%
Junior Subordinated Notes
Debt Instrument [Line Items]
Aggregate Principal	$ 425,000
Issue Price	99.00%
Net Proceeds	$ 420,750
Interest rate	4.90%
Junior Subordinated Notes | Five-Year Treasury Rate
Debt Instrument [Line Items]
Basis spread on variable rate	3.186%

DEBT AND FINANCING ARRANGEMEN_5

DEBT AND FINANCING ARRANGEMENTS - Senior and notes payable, Dekania Notes (Details) - USD ($)

Sep. 29, 2004

Jun. 30, 2004

Sep. 29, 2004

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Dec. 10, 2019

Jun. 19, 2019

Apr. 01, 2019

Dec. 06, 2017

Mar. 13, 2014

Mar. 23, 2010

Debt Instrument [Line Items]

Net proceeds from issuance of debt

$ 717,509,000

$ 0

$ 346,362,000

Dekania Notes, 15 Million

Debt Instrument [Line Items]

Aggregate Principal

$ 15,000,000

Dekania Notes, 11 Million

Debt Instrument [Line Items]

Aggregate Principal

$ 11,000,000

Dekania Notes, 10 Million

Debt Instrument [Line Items]

Aggregate Principal

$ 10,000,000

$ 10,000,000

Dekania Notes

Debt Instrument [Line Items]

Interest expense

2,000,000

2,000,000

Net proceeds from issuance of debt

$ 35,000,000

Senior Notes

Debt Instrument [Line Items]

Interest expense

67,000,000

$ 64,000,000

$ 51,000,000

Senior Notes | 2010 AXIS Specialty Finance LLC Senior Notes

Debt Instrument [Line Items]

Interest rate

2.65%

5.875%

Senior Notes | Senior Notes Due 2045 Axis Specialty Finance PLC 2014

Debt Instrument [Line Items]

Interest rate

5.15%

Senior Notes | Senior Notes Axis Specialty Finance PLC 2017

Debt Instrument [Line Items]

Interest rate

4.00%

Junior Subordinated Notes

Debt Instrument [Line Items]

Interest rate

4.90%

Interest expense

$ 1,000,000

Aggregate Principal

$ 425,000,000

AXIS Specialty Finance LLC

Debt Instrument [Line Items]

Percentage ownership in subsidiary

100.00%

100.00%

100.00%

100.00%

100.00%

London Interbank Offered Rate (LIBOR) | Dekania Notes, 15 Million

Debt Instrument [Line Items]

Basis spread on variable rate

3.50%

London Interbank Offered Rate (LIBOR) | Dekania Notes, 11 Million

Debt Instrument [Line Items]

Basis spread on variable rate

4.05%

London Interbank Offered Rate (LIBOR) | Dekania Notes, 10 Million

Debt Instrument [Line Items]

Basis spread on variable rate

3.50%

AXIS Specialty Finance LLC | Senior Notes | 3.9% Senior Notes

Debt Instrument [Line Items]

Interest rate

3.90%

DEBT AND FINANCING ARRANGEMEN_6

DEBT AND FINANCING ARRANGEMENTS - Debt maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Scheduled debt maturity
2020	$ 500,000
2021	0
2022	0
2023	0
2024	0
After 2024	1,325,000
Unamortized discount and debt issuance expenses	(16,843)
Total senior notes and notes payable	$ 1,808,157	$ 1,341,961

DEBT AND FINANCING ARRANGEMEN_7

DEBT AND FINANCING ARRANGEMENTS - Credit facilities (Details) - Letter of Credit Facility - Citibank - USD ($)	Dec. 31, 2019	Dec. 24, 2019	Mar. 28, 2019	Dec. 31, 2018	Mar. 27, 2017	Mar. 31, 2015	Mar. 30, 2015	Nov. 20, 2013
Line of Credit Facility [Line Items]
Maximum capacity						$ 500,000,000	$ 750,000,000	$ 750,000,000
Letters of credit outstanding	$ 357,000,000			$ 395,000,000
$500 million secured LOC
Line of Credit Facility [Line Items]
Maximum capacity		$ 500,000,000	$ 250,000,000		$ 500,000,000
$250 million secured LOC
Line of Credit Facility [Line Items]
Maximum capacity					$ 250,000,000

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES - Cash and investments (Details)	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Fixed maturity portfolio - corporate issuer concentration limit above A-	2.00%
Fixed maturity portfolio - corporate issuer concentration limit below A-	1.00%

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Reinsurance and premiums (Details)	12 Months Ended
	Dec. 31, 2019USD ($)broker	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Concentration Risk [Line Items]
Premiums receivable allowance for doubtful accounts	$ 7,000,000	$ 4,000,000
Premiums receivable, bad debt expense charges	$ 0	$ 0	$ 0
Reinsurance Recoverable On Unpaid And Paid Losses | Reinsurer Concentration | Reinsurer 1
Concentration Risk [Line Items]
Concentration risk, percentage of total	12.00%	13.00%
Reinsurance Recoverable On Unpaid And Paid Losses | Reinsurer Concentration | Reinsurer 2
Concentration Risk [Line Items]
Concentration risk, percentage of total	10.00%	10.00%
Reinsurance Recoverable On Unpaid And Paid Losses | Reinsurer Concentration | Reinsurer 3
Concentration Risk [Line Items]
Concentration risk, percentage of total	9.00%	10.00%
Reinsurance Recoverable On Unpaid And Paid Losses | Reinsurer Concentration | Top Ten Reinsurers | AM Best, A- Rating
Concentration Risk [Line Items]
Concentration risk, percentage of total	89.10%	89.50%
Gross Premiums Written | Customer Concentration
Concentration Risk [Line Items]
Concentration risk, percentage of total	47.00%	43.00%	49.00%
Concentration risk, number of brokers exceeding threshold | broker	3
Gross Premiums Written | Customer Concentration | Marsh & McLennan Companies Inc.
Concentration Risk [Line Items]
Concentration risk, percentage of total	18.00%	17.00%	20.00%
Gross Premiums Written | Customer Concentration | Aon plc
Concentration Risk [Line Items]
Concentration risk, percentage of total	19.00%	17.00%	17.00%
Gross Premiums Written | Customer Concentration | Willis Towers Watson PLC
Concentration Risk [Line Items]
Concentration risk, percentage of total	10.00%	9.00%	12.00%

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Reinsurance purchase commitment, investments and funds at Lloyd's (Details) - USD ($) $ in Thousands	Jan. 01, 2019	Dec. 31, 2019	Dec. 31, 2018
Unrecorded Unconditional Purchase Obligation [Line Items]
Purchase commitment		$ 57,000	$ 39,000
Unfunded commitments related to other investments		588,000	507,000
Collateral in Trust for third party agreements		$ 1,856,327	1,510,416
Axis Corporate Capital UK Limited
Unrecorded Unconditional Purchase Obligation [Line Items]
Capital support, percentage	70.00%	70.00%
Axis Corporate Capital UK Limited II
Unrecorded Unconditional Purchase Obligation [Line Items]
Capital support, percentage	30.00%	30.00%
CMBS
Unrecorded Unconditional Purchase Obligation [Line Items]
Purchase commitment		$ 32,000	4,000
Lloyd's
Unrecorded Unconditional Purchase Obligation [Line Items]
Collateral in Trust for third party agreements		$ 1,300,000	$ 1,300,000

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Lessee, Lease, Description [Line Items]
Operating lease liabilities	$ 115,584
Operating lease expense	$ 28,000	$ 33,000	$ 29,000
GEORGIA
Lessee, Lease, Description [Line Items]
Lease term	15 years
Operating lease liabilities	$ 40,000

LEASES - Lease costs (Details)

LEASES - Lease costs (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Lease cost:
Operating lease expense	$ 27,549
Short-term lease expense	1,132
Sublease income	(1,144)
Total lease expense	27,537
Other information:
Operating cash outflows from operating leases	25,004
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 0
Weighted-average remaining lease term - operating leases	9 years
Weighted-average discount rate - operating lease	4.70%

LEASES - Operating lease liabil

LEASES - Operating lease liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2020	$ 19,225
2021	19,129
2022	20,049
2023	16,641
2024	11,006
Later years	58,562
Discount	(29,028)
Total discounted operating lease liabilities	$ 115,584
Year ended December 31,
2019		$ 28,240
2020		25,331
2021		27,025
2022		28,012
2023		23,801
Later years		118,497
Total future minimum lease payments		$ 250,906

EARNINGS PER COMMON SHARE (Deta

EARNINGS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings (loss) per common share
Net income (loss)									$ 323,473	$ 43,021	$ (368,969)
Less: Preferred share dividends									41,112	42,625	46,810
Net income (loss) available (attributable) to common shareholders	$ (9,897)	$ 27,745	$ 166,387	$ 98,125	$ (198,448)	$ 43,439	$ 92,858	$ 62,546	$ 282,361	$ 396	$ (415,779)
Weighted average common shares outstanding (in shares)									83,894	83,501	84,108
Earnings (loss) per common share (in dollars per share)	$ (0.12)	$ 0.33	$ 1.98	$ 1.17	$ (2.37)	$ 0.52	$ 1.11	$ 0.75	$ 3.37	$ 0	$ (4.94)
Earnings (loss) per diluted common share
Net income (loss) available (attributable) to common shareholders	$ (9,897)	$ 27,745	$ 166,387	$ 98,125	$ (198,448)	$ 43,439	$ 92,858	$ 62,546	$ 282,361	$ 396	$ (415,779)
Weighted average common shares outstanding (in shares)									83,894	83,501	84,108
Share-based compensation plans (in shares)									579	506	0
Weighted average diluted common shares outstanding (in shares)									84,473	84,007	84,108
Earnings (loss) per diluted common share (in dollars per share)	$ (0.12)	$ 0.33	$ 1.97	$ 1.16	$ (2.37)	$ 0.52	$ 1.11	$ 0.75	$ 3.34	$ 0	$ (4.94)
Weighted average anti-dilutive shares excluded from the dilutive computation (in shares)									154	245	702

SHAREHOLDERS' EQUITY - Common s

SHAREHOLDERS' EQUITY - Common shares (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Authorized share capital, common (in shares)	800,000,000
Par value per share, common (in usd per share)	$ 0.0125
Common Shares Issued and Outstanding [Roll Forward]
Shares issued, balance at beginning of year (in shares)	176,580,000
Total shares issued at end of year (in shares)	176,580,000	176,580,000
Treasury Shares Issued and Outstanding [Roll Forward]
Treasury shares, balance at beginning of year (in shares)	(92,994,000)
Total treasury shares at end of year (in shares)	(92,621,000)	(92,994,000)
Total shares outstanding (in shares)	83,959,000	83,586,000
Common stocks
Common Shares Issued and Outstanding [Roll Forward]
Shares issued, balance at beginning of year (in shares)	176,580,000	176,580,000	176,580,000
Shares issued (in shares)	0	0	0
Total shares issued at end of year (in shares)	176,580,000	176,580,000	176,580,000
Treasury Shares Issued and Outstanding [Roll Forward]
Treasury shares, balance at beginning of year (in shares)	(92,994,000)	(93,419,000)	(90,139,000)
Shares repurchased (in shares)	(176,000)	(200,000)	(4,288,000)
Shares reissued from treasury (in shares)	549,000	625,000	1,008,000
Total treasury shares at end of year (in shares)	(92,621,000)	(92,994,000)	(93,419,000)
Total shares outstanding (in shares)	83,959,000	83,586,000	83,161,000

SHAREHOLDERS' EQUITY - Share re

SHAREHOLDERS' EQUITY - Share repurchase activities (Details) - Common stocks - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Treasury Shares [Line Items]
Total shares (in shares)	176	200	4,288
Total cost	$ 10,165	$ 10,080	$ 285,858
Average price per share (in usd per share)	$ 57.66	$ 50.40	$ 66.67
In the open market
Treasury Shares [Line Items]
Total shares (in shares)	0	0	3,932
Total cost	$ 0	$ 0	$ 261,180
Average price per share (in usd per share)	$ 0	$ 0	$ 66.43
From employees
Treasury Shares [Line Items]
Total shares (in shares)	176	200	356
Total cost	$ 10,165	$ 10,080	$ 24,678
Average price per share (in usd per share)	$ 57.66	$ 50.40	$ 69.36

SHAREHOLDERS' EQUITY - Preferre

SHAREHOLDERS' EQUITY - Preferred shares (Details) - USD ($)	Jan. 17, 2020	Nov. 07, 2016	May 20, 2013	Mar. 19, 2012	Nov. 30, 2016	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Apr. 17, 2017
Class of Stock [Line Items]
Aggregate cash payment to acquire preferred shares						$ 0	$ 0	$ 351,074,000
Preferred shares, aggregate liquidation value outstanding						$ 775,000,000	$ 775,000,000
Series C 6.875% Preferred Shares
Class of Stock [Line Items]
Preferred shares, aggregate liquidation value issued				$ 400,000,000
Preferred shares, dividend rate				6.875%
Preferred shares, par value per share (in usd per share)				$ 0.0125
Preferred shares, liquidation preference per share (in usd per share)				25
Preferred shares, redemption price per share (in usd per share)				$ 25
Preferred shares, number of shares redeemed (in shares)					1,957,045
Preferred shares, purchase price per share (in usd per share)					$ 25.67
Aggregate cash payment to acquire preferred shares					$ 50,000,000
Loss on repurchase of preferred shares					$ 1,000,000
Preferred shares, number of shares outstanding (in shares)									14,042,955
Preferred shares, aggregate liquidation value outstanding									$ 351,000,000
Series D 5.50% Preferred Shares
Class of Stock [Line Items]
Preferred shares, aggregate liquidation value issued			$ 225,000,000
Preferred shares, dividend rate			5.50%
Preferred shares, par value per share (in usd per share)			$ 0.0125
Preferred shares, liquidation preference per share (in usd per share)			25
Preferred shares, redemption price per share (in usd per share)			$ 25
Series E 5.50% Preferred Shares
Class of Stock [Line Items]
Preferred shares, aggregate liquidation value issued		$ 550,000,000
Preferred shares, dividend rate		5.50%
Preferred shares, par value per share (in usd per share)		$ 0.0125
Preferred shares, liquidation preference per share (in usd per share)		2,500
Preferred shares, redemption price per share (in usd per share)		$ 2,500
Subsequent event | Series D 5.50% Preferred Shares
Class of Stock [Line Items]
Preferred shares, number of shares redeemed (in shares)	9,000,000
Preferred shares, aggregate liquidation value outstanding	$ 225,000,000

SHAREHOLDERS' EQUITY - Dividend

SHAREHOLDERS' EQUITY - Dividends (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Common shares, dividends declared per share (in usd per share)	$ 1.61	$ 1.57	$ 1.53
Common shares, dividends paid per share (in usd per share)	1.20	1.17	1.14
Series C 6.875% Preferred Shares
Class of Stock [Line Items]
Preferred shares, dividend declared per share (in usd per share)			0.43
Preferred shares, dividends paid per share (in usd per share)			0.43
Dividends paid in year following declaration (in usd per share)			0
Series D 5.50% Preferred Shares
Class of Stock [Line Items]
Preferred shares, dividend declared per share (in usd per share)	1.21	1.38	1.38
Preferred shares, dividends paid per share (in usd per share)	1.03	1.03	1.03
Dividends paid in year following declaration (in usd per share)	0.18	0.34	0.34
Series E 5.50% Preferred Shares
Class of Stock [Line Items]
Preferred shares, dividend declared per share (in usd per share)	137.50	137.50	137.50
Preferred shares, dividends paid per share (in usd per share)	103.13	103.13	103.13
Dividends paid in year following declaration (in usd per share)	34.38	34.38	34.38
Common shares
Class of Stock [Line Items]
Dividends paid in year following declaration (in usd per share)	$ 0.41	$ 0.40	$ 0.39

RETIREMENT PLANS (Details)

RETIREMENT PLANS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Retirement Benefits [Abstract]
Total pension expenses	$ 28	$ 27	$ 24

SHARE-BASED COMPENSATION - Long

SHARE-BASED COMPENSATION - Long term equity compensation plan narrative (Details)	12 Months Ended
	Dec. 31, 2019installmentshares	May 31, 2017shares
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of installments	4
Vesting period	3 years
Restricted Stock Units | Cash Settled
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of installments	4
Restricted Stock Units | Cash Settled | Cliff Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Performance Based Restricted Stock and Restricted Stock Units | Cash Settled | Cliff Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
2017 Long Term Equity Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares to be issued under the plan (in shares) | shares		3,400,000
Number of awards available for grant under plan (in shares) | shares	2,565,143
2007 Long-term Equity Compensation Plan | Share Settled
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period of time subsequent to a change in control during which plan allows for accelerated vesting of awards for certain terminations	2 years
2007 Long-term Equity Compensation Plan | Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of installments	4

SHARE-BASED COMPENSATION - Shar

SHARE-BASED COMPENSATION - Share and cash settled awards (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Performance Based Restricted Stock and Restricted Stock Units | Share Settled
Number of restricted stock units
Nonvested restricted stock - beginning of year (in shares)	232	230
Granted (in shares)	127	104
Vested (in shares)	(61)	(87)
Forfeited (in shares)	(40)	(15)
Nonvested restricted stock - end of year (in shares)	258	232
Weighted Average Grant Date Fair Value
Weighted average grant date fair value - beginning of year (in usd per share)	$ 54.54	$ 57.08
Weighted average grant date fair value - granted (in usd per share)	54.70	48.89
Weighted average grant date fair value - vested (in usd per share)	53.82	54.71
Weighted average grant date fair value - forfeited (in usd per share)	64.01	53.80
Weighted average grant date fair value - end of year (in usd per share)	$ 53.31	$ 54.54
Performance Based Restricted Stock and Restricted Stock Units | Cash Settled
Number of restricted stock units
Nonvested restricted stock - beginning of year (in shares)	27	42
Granted (in shares)	0	0
Vested (in shares)	(12)	(12)
Forfeited (in shares)	(9)	(3)
Nonvested restricted stock - end of year (in shares)	6	27
Restricted Stock Units | Share Settled
Number of restricted stock units
Nonvested restricted stock - beginning of year (in shares)	1,411	1,355
Granted (in shares)	523	737
Vested (in shares)	(487)	(539)
Forfeited (in shares)	(174)	(142)
Nonvested restricted stock - end of year (in shares)	1,273	1,411
Weighted Average Grant Date Fair Value
Weighted average grant date fair value - beginning of year (in usd per share)	$ 54.12	$ 57.09
Weighted average grant date fair value - granted (in usd per share)	54.88	49.36
Weighted average grant date fair value - vested (in usd per share)	54.29	54.51
Weighted average grant date fair value - forfeited (in usd per share)	54.49	55.36
Weighted average grant date fair value - end of year (in usd per share)	$ 54.32	$ 54.12
Restricted Stock Units | Cash Settled
Number of restricted stock units
Nonvested restricted stock - beginning of year (in shares)	932	988
Granted (in shares)	364	473
Vested (in shares)	(333)	(390)
Forfeited (in shares)	(110)	(139)
Nonvested restricted stock - end of year (in shares)	853	932

SHARE-BASED COMPENSATION - Addi

SHARE-BASED COMPENSATION - Additional information related to share-based compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability for cash-settled restricted stock units	$ 21,731	$ 20,648
Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation expense incurred	52,218	54,011	$ 67,697
Tax benefit related to share-based compensation costs incurred	8,913	7,772	14,937
Fair value of restricted stock and cash settled awards vested	51,206	50,750	124,990
Unrecognized compensation costs	$ 75,770	$ 87,341	$ 94,315
Weighted average period for recognition of share based compensation	2 years 3 months 18 days	2 years 4 months 24 days	2 years 6 months
Restricted Stock and Restricted Stock Units | 2014 Long Term Equity Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of restricted stock and cash settled awards vested	$ 44,000
Cash Settled | Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability for cash-settled restricted stock units	$ 21,731	$ 20,648	$ 21,535

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	7 Months Ended	12 Months Ended
	Jul. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Other investments		$ 770,923	$ 787,787
Ceded premiums		2,409,243	2,251,103	$ 1,529,130
Ceded losses and loss expenses		1,602,000	1,565,000	1,010,000
Insurance and reinsurance balances payable		1,349,082	1,338,991
Stone Point Group
Related Party Transaction [Line Items]
Fees paid to related party		3,000	2,000	2,000
NXT Capital II
Related Party Transaction [Line Items]
Other investments		11,000
NXT Capital III
Related Party Transaction [Line Items]
Other investments		19,000
NXT Capital
Related Party Transaction [Line Items]
Fees paid to related party			1,000	1,000
Freedom Consumer Credit Fund, LLC Series B
Related Party Transaction [Line Items]
Fees paid to related party		3,000	2,000	1,000
Other investments		52,000
Stone Point Trident Fund VIII
Related Party Transaction [Line Items]
Other investments		71,000
Chairman
Related Party Transaction [Line Items]
Fees paid to related party		400	500	500
Significant influence
Related Party Transaction [Line Items]
Other investments		410,000	450,000
Harrington Re
Related Party Transaction [Line Items]
Ceded premiums		247,000	194,000	213,000
Ceded losses and loss expenses		157,000	142,000	119,000
Reinsurance recoverable on unpaid and paid losses		518,000	363,000
Insurance and reinsurance balances payable		159,000	115,000
Ventures Re
Related Party Transaction [Line Items]
Ceded premiums		192,000	182,000	107,000
Ceded losses and loss expenses		140,000	138,000	$ 126,000
Reinsurance recoverable on unpaid and paid losses		199,000	186,000
Insurance and reinsurance balances payable		$ 46,000	$ 67,000
Stone Point Group | NXT Capital
Related Party Transaction [Line Items]
Percentage ownership by related parties	43.00%
Stone Point Group | Pantheon
Related Party Transaction [Line Items]
Percentage ownership by related parties		14.50%

TRANSACTION AND REORGANIZATIO_2

TRANSACTION AND REORGANIZATION EXPENSES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restructuring and Related Activities [Abstract]
Transaction and reorganization expenses	$ 37,384	$ 66,940	$ 26,718

INCOME TAXES - Income tax expen

INCOME TAXES - Income tax expense and net tax assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income tax expense [Line Items]
Total income tax expense (benefit)	$ 23,692	$ (29,486)	$ (7,542)
Net current tax receivables (payables)	13,130	9,683
Net current tax receivables (payables)			(639)
Net deferred tax assets	18,621	39,775	4,438
Net tax assets	31,751	49,458	3,799
U.S.
Income tax expense [Line Items]
Current income tax expense (benefit)	12,601	(5,401)	(6,207)
Deferred income tax expense (benefit)	17,665	15,288	18,495
Europe
Income tax expense [Line Items]
Current income tax expense (benefit)	22,425	10,409	10,249
Deferred income tax expense (benefit)	(29,468)	(49,833)	(30,079)
Other
Income tax expense [Line Items]
Current income tax expense (benefit)	$ 469	$ 51	$ 0

INCOME TAXES - Deferred tax ass

INCOME TAXES - Deferred tax assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Discounting of net reserves for losses and loss expenses	$ 40,523	$ 37,440
Unearned premiums	42,709	40,447
Net unrealized investments losses	0	11,438
Operating and capital loss carryforwards	85,901	83,850
Accruals not currently deductible	29,705	32,589
Tax credits	2,956	8,672
Other deferred tax assets	14,355	9,195
Deferred tax assets before valuation allowance	216,149	223,631
Valuation allowance	(18,560)	(18,955)
Deferred tax assets net of valuation allowance	197,589	204,676
Deferred tax liabilities:
Deferred acquisition costs	(38,320)	(39,745)
Net unrealized investments gains	(30,434)	0
Intangible assets	(44,199)	(49,097)
Equalization reserves	(2,825)	(22,069)
Other deferred tax liabilities	(63,190)	(53,990)
Deferred tax liabilities	(178,968)	(164,901)
Net deferred tax assets	18,621	39,775	$ 4,438
Lloyd's
Deferred tax assets:
Operating and capital loss carryforwards	$ 50,000	$ 68,000

INCOME TAXES - Operating and ca

INCOME TAXES - Operating and capital loss carryforwards and tax credits (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Singapore
Operating Loss And Tax Credit Carryforwards [Line Items]
Operating loss carryforwards	$ 103,899	$ 79,445
United Kingdom
Operating Loss And Tax Credit Carryforwards [Line Items]
Operating loss carryforwards	431,374	413,504
Tax credit	864	398
Ireland
Operating Loss And Tax Credit Carryforwards [Line Items]
Operating loss carryforwards	9,064	12,756
Tax credit	2,092	2,248
Ireland | Capital loss carryforward
Operating Loss And Tax Credit Carryforwards [Line Items]
Capital loss carryforwards	716	716
U.S.
Operating Loss And Tax Credit Carryforwards [Line Items]
Operating loss carryforwards	0	15,062
U.S. alternative minimum tax credit	0	6,026
Lloyd's | United Kingdom
Operating Loss And Tax Credit Carryforwards [Line Items]
Operating loss carryforwards	$ 293,000	$ 403,000

INCOME TAXES - Valuation allowa

INCOME TAXES - Valuation allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation allowance - beginning of year	$ 18,955
Valuation allowance - end of year	18,560	$ 18,955
Operating loss carryforwards
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Change in valuation allowance	2,445	198
Foreign tax credit
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Change in valuation allowance	(114)	(1,359)
U.K. branch assets and other foreign rate differentials
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Change in valuation allowance	2,338	(205)
U.S. alternative minimum tax credits
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Change in valuation allowance	0	(900)
Income tax expense
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation allowance - beginning of year	13,891	16,157
Valuation allowance - end of year	18,560	13,891
Change in investment - related items
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Change in valuation allowance	(5,064)	5,064
Accumulated other comprehensive income
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Valuation allowance - beginning of year	5,064	0
Valuation allowance - end of year	$ 0	$ 5,064

INCOME TAXES - Effective tax ra

INCOME TAXES - Effective tax rate (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of effective tax rate (% of income before income taxes) [Line Items]
Unrecognized tax benefits	$ 0	$ 0
Income (loss) before income taxes
Bermuda (domestic)	179,418,000	181,597,000	$ (188,420,000)
Foreign	167,747,000	(168,062,000)	(188,091,000)
Total income (loss) before income taxes	$ 347,165,000	$ 13,535,000	$ (376,511,000)
Reconciliation of effective tax rate (% of income before income taxes)
Expected tax rate	0.00%	0.00%	0.00%
Valuation allowance	1.30%	(13.40%)	0.00%
Net tax exempt income	0.00%	(3.30%)	0.10%
Other	(3.00%)	5.90%	0.30%
Actual tax rate	6.80%	(217.90%)	2.00%
U.S.
Reconciliation of effective tax rate (% of income before income taxes)
Foreign taxes at local expected rates	8.10%	65.70%	6.60%
Change in enacted tax rate	0.00%	0.00%	(11.10%)
Europe
Reconciliation of effective tax rate (% of income before income taxes)
Foreign taxes at local expected rates	0.40%	(289.70%)	5.80%
Change in enacted tax rate	0.00%	16.90%	0.00%
Other
Reconciliation of effective tax rate (% of income before income taxes)
Foreign taxes at local expected rates	0.00%	0.00%	0.30%

OTHER COMPREHENSIVE INCOME (L_3

OTHER COMPREHENSIVE INCOME (LOSS) - Component of other comprehensive income (loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Before tax amount
Other comprehensive income (loss), before tax amount	$ 384,298	$ (202,694)	$ 219,197
Income tax (expense) benefit
Other comprehensive income (loss), tax (expense) benefit	(35,478)	700	(4,974)
Net of tax amount
Other comprehensive income (loss), net of tax amount	348,820	(201,994)	214,223
Unrealized gains (losses) on available for sale investments, net of tax
Before tax amount
Unrealized gains (loss) arising during the year	414,982	(297,259)	211,151
Adjustment for reclassification of net realized (gains) losses and OTTI losses recognized in net income	(29,618)	105,730	(33,892)
Other comprehensive income (loss), before tax amount	385,364	(191,529)	177,259
Income tax (expense) benefit
Unrealized gains (loss) arising during the year	(40,367)	5,528	(5,732)
Adjustment for reclassification of net realized (gains) losses and OTTI losses recognized in net income	4,889	(4,828)	758
Other comprehensive income (loss), tax (expense) benefit	(35,478)	700	(4,974)
Net of tax amount
Unrealized gains (loss) arising during the year	374,615	(291,731)	205,419
Adjustment for reclassification of net realized (gains) losses and OTTI losses recognized in net income	(24,729)	100,902	(33,134)
Other comprehensive income (loss), net of tax amount	349,886	(190,829)	172,285
Foreign currency translation adjustment
Before tax amount
Other comprehensive income (loss), before tax amount	(1,066)	(11,165)	41,938
Income tax (expense) benefit
Other comprehensive income (loss), tax (expense) benefit	0	0	0
Net of tax amount
Other comprehensive income (loss), net of tax amount	$ (1,066)	$ (11,165)	$ 41,938

OTHER COMPREHENSIVE INCOME (L_4

OTHER COMPREHENSIVE INCOME (LOSS) - Reclassifications out of AOCI into net income (Details) - USD ($) $ in Thousands	Mar. 27, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reclassification out of accumulated comprehensive income into net income available to common shareholders [Line Items]
OTTI losses		$ (6,984)	$ (9,733)	$ (14,493)
Income (loss) before income taxes and interest in income (loss) of equity method investments		337,447	12,542	(368,109)
Foreign exchange gains		12,041	29,165	(134,737)
Income tax (expense) benefit		(23,692)	29,486	7,542
Net income (loss)		323,473	43,021	(368,969)
Non-cash foreign exchange losses (gains)	$ 24,000
Unrealized gains (losses) on available for sale investments | Reclassification out of Accumulated Other Comprehensive Income
Reclassification out of accumulated comprehensive income into net income available to common shareholders [Line Items]
Other realized gains (losses)		36,602	(95,997)	48,385
OTTI losses		(6,984)	(9,733)	(14,493)
Income (loss) before income taxes and interest in income (loss) of equity method investments		29,618	(105,730)	33,892
Income tax (expense) benefit		(4,889)	4,828	(758)
Net income (loss)		24,729	(100,902)	33,134
Foreign currency translation adjustment | Reclassification out of Accumulated Other Comprehensive Income
Reclassification out of accumulated comprehensive income into net income available to common shareholders [Line Items]
Foreign exchange gains		6,043	0	(24,149)
Income tax (expense) benefit		0	0	0
Net income (loss)		6,043	$ 0	$ (24,149)
Foreign currency translation adjustment | Reclassification out of Accumulated Other Comprehensive Income | Aviabel
Reclassification out of accumulated comprehensive income into net income available to common shareholders [Line Items]
Foreign exchange gains		$ 6,000

STATUTORY FINANCIAL INFORMATI_3

STATUTORY FINANCIAL INFORMATION (Details)	Jan. 01, 2019	Dec. 31, 2019USD ($)board_member	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Statutory Financial Information [Line Items]
Statutory net income		$ 364,000,000	$ 268,000,000	$ (94,000,000)
Axis Corporate Capital UK Limited II
Statutory Financial Information [Line Items]
Capital support, percentage	30.00%	30.00%
Axis Corporate Capital UK Limited
Statutory Financial Information [Line Items]
Capital support, percentage	70.00%	70.00%
Axis Corporate Capital UK Limited | Cash
Statutory Financial Information [Line Items]
Financial instruments, as collateral, at fair value		$ 22,000,000	8,000,000
Axis Corporate Capital UK Limited | Fixed maturities and short-term investments
Statutory Financial Information [Line Items]
Financial instruments, as collateral, at fair value		725,000,000	715,000,000
Axis Corporate Capital UK II Limited
Statutory Financial Information [Line Items]
Financial instruments, as collateral, released from restriction		47,000,000
Axis Corporate Capital UK II Limited | Cash
Statutory Financial Information [Line Items]
Financial instruments, as collateral, at fair value		5,000,000	16,000,000
Axis Corporate Capital UK II Limited | Fixed maturities and short-term investments
Statutory Financial Information [Line Items]
Financial instruments, as collateral, at fair value		513,000,000	528,000,000
Axis Corporate Capital UK II Limited | Equity securities
Statutory Financial Information [Line Items]
Financial instruments, as collateral, at fair value		49,000,000	40,000,000
Bermuda
Statutory Financial Information [Line Items]
Required statutory capital and surplus		1,502,153,000	1,470,375,000
Available statutory capital and surplus		3,288,752,000	3,513,342,000
Minimum solvency margin amount		$ 100,000,000
Minimum solvency margin percentage of net written premiums		50.00%
Minimum solvency margin percentage of net reserves		15.00%
Minimum solvency margin percentage of ECR		25.00%
Limit - prior year's total statutory capital surplus (Bermuda)		25.00%
Number of directors required to sign affidavits in order to pay dividend/distribution greater than 25% of prior year statutory capital and surplus | board_member		2
Maximum dividend/distribution payable without regulatory approval		$ 844,000,000	864,000,000
Ireland
Statutory Financial Information [Line Items]
Required statutory capital and surplus		719,405,000	637,226,000
Available statutory capital and surplus		1,069,621,000	896,868,000
Maximum dividend/distribution payable with regulatory approval		70,000,000	37,000,000
U.S.
Statutory Financial Information [Line Items]
Required statutory capital and surplus		500,750,000	489,560,000
Available statutory capital and surplus		1,713,013,000	1,668,847,000
Maximum dividend/distribution payable without regulatory approval		$ 141,000,000	$ 130,000,000
Maximum dividend limit - percentage of total statutory capital and surplus		10.00%

UNAUDITED CONDENSED QUARTERLY_3

UNAUDITED CONDENSED QUARTERLY FINANCIAL DATA (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Net premiums earned	$ 1,172,051	$ 1,157,307	$ 1,123,607	$ 1,134,212	$ 1,214,469	$ 1,224,075	$ 1,185,548	$ 1,167,402	$ 4,587,178	$ 4,791,495	$ 4,148,760
Net investment income	117,557	115,763	137,949	107,303	113,128	114,421	109,960	100,999	478,572	438,507	400,805
Net investment gains	42,712	14,527	21,225	12,767	(72,667)	(17,628)	(45,093)	(14,830)	91,233	(150,218)	28,226
Underwriting income (loss)	(49,254)	(78,718)	78,659	77,822	(194,664)	59,026	115,726	143,737
Net income (loss) available (attributable) to common shareholders	$ (9,897)	$ 27,745	$ 166,387	$ 98,125	$ (198,448)	$ 43,439	$ 92,858	$ 62,546	$ 282,361	$ 396	$ (415,779)
Earnings (loss) per common share (in dollars per share)	$ (0.12)	$ 0.33	$ 1.98	$ 1.17	$ (2.37)	$ 0.52	$ 1.11	$ 0.75	$ 3.37	$ 0	$ (4.94)
Earnings (loss) per diluted common share (in dollars per share)	$ (0.12)	$ 0.33	$ 1.97	$ 1.16	$ (2.37)	$ 0.52	$ 1.11	$ 0.75	$ 3.34	$ 0	$ (4.94)
Transaction and reorganization expenses	$ 8,000	$ 11,000	$ 3,000	$ 15,000	$ 19,000	$ 16,000	$ 19,000	$ 13,000
Amortization of value of business acquired	$ 2,000	$ 4,000	$ 7,000	$ 13,000	$ 23,000	$ 39,000	$ 53,000	$ 57,000	$ 26,722	$ 172,332	$ 50,104
Effect of Fourth Quarter Events [Line Items]
General and administrative expenses									634,831	627,389	579,428
Corporate
Effect of Fourth Quarter Events [Line Items]
General and administrative expenses									$ 129,096	$ 108,221	$ 129,945

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ in Thousands	Jan. 17, 2020	Dec. 31, 2019	Dec. 31, 2018
Subsequent Event [Line Items]
Preferred shares, aggregate liquidation value		$ 775,000	$ 775,000
Subsequent event | Series D 5.50% Preferred Shares
Subsequent Event [Line Items]
Preferred shares, number of shares redeemed (in shares)	9,000,000
Preferred shares, aggregate liquidation value	$ 225,000

SCHEDULE I - SUMMARY OF INVES_2

SCHEDULE I - SUMMARY OF INVESTMENTS - OTHER THAN INVESTMENTS IN RELATED PARTIES (Details) $ in Thousands	Dec. 31, 2019USD ($)
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fair value	$ 13,892,441
Amount shown on the balance sheet	14,302,375
Fixed maturities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	12,263,240
Fair value	12,468,205
Amount shown on the balance sheet	12,468,205
U.S. government and agency
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	2,102,849
Fair value	2,112,881
Amount shown on the balance sheet	2,112,881
Non-U.S. government
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	564,505
Fair value	576,592
Amount shown on the balance sheet	576,592
Corporate debt
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	4,797,384
Fair value	4,930,254
Amount shown on the balance sheet	4,930,254
Agency RMBS
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	1,570,823
Fair value	1,592,584
Amount shown on the balance sheet	1,592,584
CMBS
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	1,340,156
Fair value	1,365,052
Amount shown on the balance sheet	1,365,052
Non-Agency RMBS
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	84,381
Fair value	84,922
Amount shown on the balance sheet	84,922
ABS
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	1,599,867
Fair value	1,598,693
Amount shown on the balance sheet	1,598,693
Municipals
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Amortized cost	203,275
Fair value	207,227
Amount shown on the balance sheet	207,227
Mortgage loans
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fair value	432,748
Amount shown on the balance sheet	432,748
Short-term investments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fair value	38,471
Amount shown on the balance sheet	38,471
Equity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fair value	474,207
Amount shown on the balance sheet	474,207
Other Investments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fair value	478,810
Amount shown on the balance sheet	770,923
Equity method investments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Fair value	0
Amount shown on the balance sheet	$ 117,821

SCHEDULE II - FOOTNOTES - BALAN

SCHEDULE II - FOOTNOTES - BALANCE SHEETS (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	$ 1,241,109	$ 1,232,814
Other assets	287,892	285,346
Total assets	25,604,054	24,132,566
Liabilities
Other liabilities	375,911	393,178
Total liabilities	20,060,046	19,102,495
Shareholders’ equity
Preferred shares	775,000	775,000
Common shares (shares issued 2019: 176,580; 2018: 176,580 shares outstanding 2019: 83,959; 2018: 83,586)	2,206	2,206
Additional paid-in capital	2,317,212	2,308,583
Accumulated other comprehensive income (loss)	171,710	(177,110)
Retained earnings	6,056,686	5,912,812
Treasury shares, at cost (2019: 92,621; 2018: 92,994)	(3,778,806)	(3,791,420)
Total shareholders’ equity	5,544,008	5,030,071
Total liabilities and shareholders’ equity	25,604,054	24,132,566
AXIS Capital Holdings Limited
Assets
Investments in subsidiaries	5,807,851	5,320,828
Cash and cash equivalents	3,103	3,099
Other assets	5,540	9,647
Total assets	5,816,494	5,333,574
Liabilities
Intercompany payable	215,911	247,992
Dividends payable	50,927	51,157
Other liabilities	5,648	4,354
Total liabilities	272,486	303,503
Shareholders’ equity
Preferred shares	775,000	775,000
Common shares (shares issued 2019: 176,580; 2018: 176,580 shares outstanding 2019: 83,959; 2018: 83,586)	2,206	2,206
Additional paid-in capital	2,317,212	2,308,583
Accumulated other comprehensive income (loss)	171,710	(177,110)
Retained earnings	6,056,686	5,912,812
Treasury shares, at cost (2019: 92,621; 2018: 92,994)	(3,778,806)	(3,791,420)
Total shareholders’ equity	5,544,008	5,030,071
Total liabilities and shareholders’ equity	$ 5,816,494	$ 5,333,574

SCHEDULE II - FOOTNOTES - BAL_2

SCHEDULE II - FOOTNOTES - BALANCE SHEETS, Additional Information (Details) - shares shares in Thousands	Dec. 31, 2019	Dec. 31, 2018
Condensed Financial Information of Parent Company [Line Items]
Common shares, shares issued (in shares)	176,580	176,580
Common shares, shares outstanding (in shares)	83,959	83,586
Treasury shares (in shares)	92,621	92,994
AXIS Capital Holdings Limited
Condensed Financial Information of Parent Company [Line Items]
Common shares, shares issued (in shares)	176,580	176,580
Common shares, shares outstanding (in shares)	83,959	84,011
Treasury shares (in shares)	92,621	92,569

SCHEDULE II - FOOTNOTES - BAL_3

SCHEDULE II - FOOTNOTES - BALANCE SHEETS, Footnotes (Details) - USD ($) $ in Thousands	Feb. 15, 2018	Dec. 31, 2019	Dec. 10, 2019	Jun. 19, 2019	Apr. 01, 2019	Dec. 31, 2017	Dec. 06, 2017	Mar. 13, 2014	Mar. 23, 2010
Senior Notes | 2010 AXIS Specialty Finance LLC Senior Notes
Condensed Financial Information of Parent Company [Line Items]
Interest rate					2.65%				5.875%
Senior Notes | Senior Notes Due 2045 Axis Specialty Finance PLC 2014
Condensed Financial Information of Parent Company [Line Items]
Interest rate								5.15%
Senior Notes | Senior Notes Axis Specialty Finance PLC 2017
Condensed Financial Information of Parent Company [Line Items]
Interest rate							4.00%
Senior Notes | 3.900% Senior Notes
Condensed Financial Information of Parent Company [Line Items]
Interest rate				3.90%
Aggregate Principal				$ 300,000
Senior Notes | 3.900% Senior Notes | Full and Unconditional Guarantee of Debt
Condensed Financial Information of Parent Company [Line Items]
Interest rate				3.90%
Aggregate Principal				$ 300,000
Junior Subordinated Notes
Condensed Financial Information of Parent Company [Line Items]
Interest rate			4.90%
Aggregate Principal			$ 425,000
Junior Subordinated Notes | Full and Unconditional Guarantee of Debt
Condensed Financial Information of Parent Company [Line Items]
Interest rate			4.90%
Aggregate Principal			$ 425,000
AXIS Capital Holdings Limited | Senior Notes | 2010 AXIS Specialty Finance LLC Senior Notes | Full and Unconditional Guarantee of Debt
Condensed Financial Information of Parent Company [Line Items]
Principal amount guaranteed		$ 500,000
Interest rate		5.875%
AXIS Capital Holdings Limited | Senior Notes | Senior Notes Due 2045 Axis Specialty Finance PLC 2014 | Full and Unconditional Guarantee of Debt
Condensed Financial Information of Parent Company [Line Items]
Principal amount guaranteed		$ 250,000
Interest rate		5.15%
AXIS Capital Holdings Limited | Senior Notes | Senior Notes Axis Specialty Finance PLC 2017 | Full and Unconditional Guarantee of Debt
Condensed Financial Information of Parent Company [Line Items]
Principal amount guaranteed		$ 350,000
Interest rate		4.00%
AXIS Specialty Finance LLC
Condensed Financial Information of Parent Company [Line Items]
Percentage ownership in subsidiary		100.00%		100.00%			100.00%	100.00%	100.00%
AXIS Specialty Finance LLC | Senior Notes | Full and Unconditional Guarantee of Debt
Condensed Financial Information of Parent Company [Line Items]
Percentage ownership in subsidiary		100.00%
AXIS Specialty Finance PLC | Senior Notes | Full and Unconditional Guarantee of Debt
Condensed Financial Information of Parent Company [Line Items]
Percentage ownership in subsidiary		100.00%
AXIS Specialty Global Holdings
Condensed Financial Information of Parent Company [Line Items]
Capital contributions to subsidiary	$ 105,000
Promissory Note | AXIS Capital Holdings Limited
Condensed Financial Information of Parent Company [Line Items]
Interest rate						1.132%

SCHEDULE II - FOOTNOTES - OPERA

SCHEDULE II - FOOTNOTES - OPERATIONS (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Nov. 15, 2017
Revenues
Total revenues									$ 5,173,427	$ 5,090,406	$ 4,591,595
Expenses
Net income (loss)									323,473	43,021	(368,969)
Preferred share dividends									41,112	42,625	46,810
Net income (loss) available (attributable) to common shareholders	$ (9,897)	$ 27,745	$ 166,387	$ 98,125	$ (198,448)	$ 43,439	$ 92,858	$ 62,546	282,361	396	(415,779)
Comprehensive income (loss)									672,293	(158,973)	(154,746)
AXIS Capital Holdings Limited
Revenues
Net investment income									1,800	900	2,116
Total revenues									1,800	900	2,116
Expenses
General and administrative expenses									53,335	29,250	34,933
Total expenses									53,335	29,250	34,933
Income (loss) before equity in net income (loss) of subsidiaries									(51,535)	(28,350)	(32,817)
Equity in net income (loss) of subsidiaries									375,008	71,371	(336,152)
Net income (loss)									323,473	43,021	(368,969)
Preferred share dividends									41,112	42,625	46,810
Net income (loss) available (attributable) to common shareholders									282,361	396	(415,779)
Comprehensive income (loss)									$ 672,293	$ (158,973)	$ (154,746)
AXIS Capital Holdings Limited | Promissory Note
Expenses
Interest rate											1.132%
Promissory note receivable from subsidiary												$ 368,000

SCHEDULE II - FOOTNOTES - CASH

SCHEDULE II - FOOTNOTES - CASH FLOWS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income	$ 323,473	$ 43,021	$ (368,969)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Other items	(94,379)	26,452	(64,928)
Net cash provided by operating activities	199,004	10,773	259,229
Cash flows from investing activities:
Net cash provided by (used in) investing activities	(774,315)	638,554	391,510
Cash flows from financing activities:
Repurchase of common shares - open market	0	0	(261,180)
Taxes paid on withholding shares	(10,165)	(10,080)	(24,678)
Dividends paid - common shares	(137,209)	(133,502)	(135,032)
Repurchase of preferred shares	0	0	(351,074)
Dividends paid - preferred shares	(42,625)	(42,625)	(52,844)
Net cash provided by (used in) financing activities	277,510	(186,207)	(545,688)
Increase (decrease) in cash, cash equivalents and restricted cash	(253,563)	466,234	122,279
Cash, cash equivalents and restricted cash - beginning of year	1,830,020	1,363,786	1,241,507
Cash, cash equivalents and restricted cash - end of year	1,576,457	1,830,020	1,363,786
AXIS Capital Holdings Limited
Cash flows from operating activities:
Net income	323,473	43,021	(368,969)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in net income (loss) of subsidiaries	(375,008)	(71,371)	336,152
Change in intercompany payable	(32,081)	87,042	94,827
Dividends received from subsidiaries	250,000	200,000	400,000
Other items	23,619	(79,927)	4,988
Net cash provided by operating activities	190,003	178,765	466,998
Cash flows from investing activities:
Capital returned by subsidiary	0	0	368,252
Net cash provided by (used in) investing activities	0	0	368,252
Cash flows from financing activities:
Repurchase of common shares - open market	0	0	(261,180)
Taxes paid on withholding shares	(10,165)	(10,080)	(24,678)
Dividends paid - common shares	(137,209)	(133,502)	(135,032)
Repurchase of preferred shares	0	0	(351,074)
Dividends paid - preferred shares	(42,625)	(42,625)	(52,844)
Net cash provided by (used in) financing activities	(189,999)	(186,207)	(824,808)
Increase (decrease) in cash, cash equivalents and restricted cash	4	(7,442)	10,442
Cash, cash equivalents and restricted cash - beginning of year	3,099	10,541	99
Cash, cash equivalents and restricted cash - end of year	$ 3,103	$ 3,099	$ 10,541

SCHEDULE III - SUPPLEMENTARY _2

SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Supplementary Insurance Information [Line Items]
Deferred acquisition costs	$ 492,119	$ 566,622	$ 474,061
Reserve for losses and loss expenses	12,752,081	12,280,769	12,997,553
Unearned premiums	3,626,246	3,635,758	3,641,399
Net premiums earned	4,587,178	4,791,495	4,148,760
Net investment income	478,572	438,507	400,805
Net losses and loss expenses	3,044,798	3,190,287	3,287,772
Acquisition costs	1,024,582	968,835	823,591
Other operating expenses	634,831	627,389	579,428
Net premiums written	4,489,615	4,658,962	4,027,143
General and administrative expenses	634,831	627,389	579,428
Operating Segments
Supplementary Insurance Information [Line Items]
General and administrative expenses	505,735	519,168	449,483
Operating Segments | Insurance
Supplementary Insurance Information [Line Items]
Deferred acquisition costs	191,925	209,622	115,332
Reserve for losses and loss expenses	6,496,568	6,426,309	7,011,805
Unearned premiums	2,115,664	2,061,123	2,053,422
Net premiums earned	2,190,084	2,362,606	1,816,438
Net investment income	0	0	0
Net losses and loss expenses	1,278,679	1,494,323	1,465,427
Acquisition costs	468,281	399,193	270,229
Other operating expenses	401,963	395,252	325,368
Net premiums written	2,209,155	2,324,747	1,775,825
General and administrative expenses	401,963	395,252	325,368
Operating Segments | Reinsurance
Supplementary Insurance Information [Line Items]
Deferred acquisition costs	300,194	357,000	358,729
Reserve for losses and loss expenses	6,255,513	5,854,460	5,985,748
Unearned premiums	1,510,582	1,574,635	1,587,977
Net premiums earned	2,397,094	2,428,889	2,332,322
Net investment income	0	0	0
Net losses and loss expenses	1,766,119	1,695,964	1,822,345
Acquisition costs	556,301	569,642	553,362
Other operating expenses	103,772	123,916	124,115
Net premiums written	2,280,460	2,334,215	2,251,318
General and administrative expenses	103,772	123,916	124,115
Corporate
Supplementary Insurance Information [Line Items]
Deferred acquisition costs	0	0	0
Reserve for losses and loss expenses	0	0	0
Unearned premiums	0	0	0
Net premiums earned	0	0	0
Net investment income	478,572	438,507	400,805
Net losses and loss expenses	0	0	0
Acquisition costs	0	0	0
Other operating expenses	129,096	108,221	129,945
Net premiums written	0	0	0
General and administrative expenses	$ 129,096	$ 108,221	$ 129,945

SCHEDULE IV - SUPPLEMENTARY R_2

SCHEDULE IV - SUPPLEMENTARY REINSURANCE INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Supplementary Insurance Information [Line Items]
GROSS AMOUNT	$ 3,275,997	$ 3,468,040	$ 2,423,126
CEDED TO OTHER COMPANIES	2,409,243	2,251,103	1,529,130
ASSUMED FROM OTHER COMPANIES	3,622,861	3,442,025	3,133,147
NET AMOUNT	$ 4,489,615	$ 4,658,962	$ 4,027,143
PERCENTAGE OF AMOUNT ASSUMED TO NET	80.70%	73.90%	77.80%
Property and Casualty
Supplementary Insurance Information [Line Items]
GROSS AMOUNT	$ 3,134,462	$ 3,258,999	$ 2,228,022
CEDED TO OTHER COMPANIES	2,311,001	2,163,417	1,523,662
ASSUMED FROM OTHER COMPANIES	3,187,623	3,074,906	2,814,173
NET AMOUNT	$ 4,011,084	$ 4,170,488	$ 3,518,533
PERCENTAGE OF AMOUNT ASSUMED TO NET	79.50%	73.70%	80.00%
Accident and health
Supplementary Insurance Information [Line Items]
GROSS AMOUNT	$ 141,535	$ 209,041	$ 195,104
CEDED TO OTHER COMPANIES	98,242	87,686	5,468
ASSUMED FROM OTHER COMPANIES	435,238	367,119	318,974
NET AMOUNT	$ 478,531	$ 488,474	$ 508,610
PERCENTAGE OF AMOUNT ASSUMED TO NET	91.00%	75.20%	62.70%