SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Components of Deferred Acquisition Costs

The following table is a summary of the components of DAC that are reported in the accompanying Consolidated Financial Statements.

Property & Casualty Insurance	2015			2014			2013
Recorded asset at beginning of year	$	72,861		$	67,663		$	64,947
Underwriting costs deferred	197,869			166,508			149,891
Amortization of deferred policy acquisition costs	(180,183		)	(161,310		)	(147,175		)
Recorded asset at end of year	$	90,547		$	72,861		$	67,663
Life Insurance
Recorded asset at beginning of year	$	66,858		$	82,429		$	40,353
Underwriting costs deferred	6,113			7,357			6,476
Amortization of deferred policy acquisition costs	(6,634		)	(6,139		)	(6,502		)
	$	66,337		$	83,647		$	40,327
Change in "shadow" deferred policy acquisition costs	11,380			(16,789		)	42,102
Recorded asset at end of year	$	77,717		$	66,858		$	82,429
Total
Recorded asset at beginning of year	$	139,719		$	150,092		$	105,300
Underwriting costs deferred	203,982			173,865			156,367
Amortization of deferred policy acquisition costs	(186,817		)	(167,449		)	(153,677		)
	$	156,884		$	156,508		$	107,990
Change in "shadow" deferred policy acquisition costs	11,380			(16,789		)	42,102
Recorded asset at end of year	$	168,264		$	139,719		$	150,092

Schedule of Property and Equipment

Depreciation is computed primarily by the straight-line method over the following estimated useful lives:

	Useful Life
Computer equipment and software	Three years
Furniture and fixtures	Seven years
Leasehold improvements	Shorter of the lease term or useful life of the asset
Real estate	Seven to thirty-nine years
Airplane	Five years

The following table is a summary of the components of the property and equipment that are reported in the accompanying Consolidated Financial Statements.

	2015		2014
Real Estate:
Land	$	7,999	$	7,414
Buildings	37,451		32,004
Furniture and fixtures	3,954		3,308
Computer equipment and software	2,452		3,289
Airplane	1,385		3,232
Total property and equipment	$	53,241	$	49,247