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DERIVATIVE INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2021
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:
  December 31, 2021December 31, 2020
  Derivative
notional
amount
Derivative asset
fair
value(1)
Derivative liability
fair
value(1)
Derivative
notional
amount
Derivative asset
fair
value(1)
Derivative liability
fair
value(1)
Relating to investment portfolio:
Foreign exchange forward contracts$184,187 $13 $1,463 $105,781 $2 $2,364 
Relating to underwriting portfolio:
Foreign exchange forward contracts1,258,836 3,103 13,524 1,197,012 18,873 — 
Other underwriting-related contracts50,000 — 5,630 75,000 — 9,122 
Total derivatives$3,116 $20,617 $18,875 $11,486 
(1)Derivative assets and derivative liabilities 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, 2021December 31, 2020
Gross amountsGross amounts offset
Net
amounts(1)
Gross amountsGross amounts offset
Net
amounts(1)
Derivative assets$9,047 $(5,931)$3,116 $27,765 $(8,890)$18,875 
Derivative liabilities$26,548 $(5,931)$20,617 $20,376 $(8,890)$11,486 
(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, 2021December 31, 2020
Gross amountsGross amounts offset
Net
amounts(1)
Gross amountsGross amounts offset
Net
amounts(1)
Derivative assets$9,047 $(5,931)$3,116 $27,765 $(8,890)$18,875 
Derivative liabilities$26,548 $(5,931)$20,617 $20,376 $(8,890)$11,486 
(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:
  Consolidated statement of operations line item that includes gain (loss) recognized
in net income		Amount of gain (loss) recognized in
net income
  202120202019
Relating to investment portfolio:
Foreign exchange forward contractsNet investment gains (losses)$4,346 $(2,434)$1,854 
        Interest rate swapsNet investment gains (losses)— — (3,677)
Relating to underwriting portfolio:
Foreign exchange forward contractsForeign exchange gains (losses)(50,738)44,166 (10,678)
Other underwriting-related contractsOther insurance related income (loss)2,742 (9,035)1,789 
Total$(43,650)$32,697 $(10,712)