RESERVE FOR LOSSES AND LOSS EXPENSES (TABLES)

12 Months Ended

Dec. 31, 2013

Insurance Loss Reserves [Abstract]

COMPONENTS OF RESERVE FOR LOSSES AND LOSS EXPENSES [Table Text Block]

As of December 31,	2013		2012
Reserve for reported losses and loss expenses	$	3,499,817	$	3,272,682
Reserve for losses incurred but not reported	6,082,323		5,786,049
Reserve for losses and loss expenses	$	9,582,140	$	9,058,731

RECONCILIATION OF BEGINNING AND ENDING GROSS RESERVE FOR LOSSES AND LOSS EXPENSES AND NET RESERVE FOR UNPAID LOSSES AND LOSS EXPENSES [Table Text Block]

Year ended December 31,	2013			2012			2011
Gross reserve for losses and loss expenses, beginning of period	$	9,058,731		$	8,425,045		$	7,032,375
Less reinsurance recoverable on unpaid losses, beginning of period	(1,825,617		)	(1,736,823		)	(1,540,633		)
Net reserve for unpaid losses and loss expenses, beginning of period	7,233,114			6,688,222			5,491,742
Net incurred losses and loss expenses related to:
Current year	2,353,631			2,340,868			2,932,513
Prior years	(219,436		)	(244,840		)	(257,461		)
	2,134,195			2,096,028			2,675,052
Net paid losses and loss expenses related to:
Current year	(318,006		)	(322,836		)	(509,075		)
Prior years	(1,373,459		)	(1,299,384		)	(953,035		)
	(1,691,465		)	(1,622,220		)	(1,462,110		)
Foreign exchange and other	6,184			71,084			(16,462		)
Net reserve for unpaid losses and loss expenses, end of period	7,682,028			7,233,114			6,688,222
Reinsurance recoverable on unpaid losses, end of period	1,900,112			1,825,617			1,736,823
Gross reserve for losses and loss expenses, end of period	$	9,582,140		$	9,058,731		$	8,425,045

NET PRIOR YEAR RESERVE DEVELOPMENT BY SEGMENT [Table Text Block]

	Insurance		Reinsurance		Total
Year ended December 31, 2013	$	50,355	$	169,081	$	219,436
Year ended December 31, 2012	122,209		122,631		244,840
Year ended December 31, 2011	103,014		154,447		257,461