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SEGMENT INFORMATION (Details)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
USD ($)
Jun. 30, 2022
USD ($)
Jun. 30, 2023
USD ($)
segment
Jun. 30, 2022
USD ($)
Segment Reporting [Abstract]        
Number of reportable segments | segment     2  
Segment Information [Line Items]        
Net premiums earned $ 1,265,745 $ 1,277,052 $ 2,495,944 $ 2,535,297
Other insurance related income 5,524 2,213 6,100 8,906
Net losses and loss expenses (736,257) (769,587) (1,456,899) (1,502,285)
Acquisition costs (253,265) (257,582) (483,638) (505,932)
Underwriting-related general and administrative expenses and corporate expenses (168,503) (165,586) (335,314) (334,627)
Net investment income 136,829 92,214 270,601 183,569
Foreign exchange (losses) gains (30,104) 57,000 (38,814) 101,274
Interest expense and financing costs (16,738) (15,241) (33,632) (30,805)
Reorganization expenses 0 (15,728) 0 (15,728)
Amortization of intangible assets (2,729) (2,729) (5,458) (5,458)
Income before income taxes and interest in income (loss) of equity method investments 176,132 28,763 374,332 166,440
Income tax (expense) benefit (27,558) 4,965 (43,454) 4,942
Interest in income of equity method investments 2,100 1,050 (105) 12,600
Net income 150,674 34,778 330,773 183,982
Preferred share dividends 7,563 7,563 15,125 15,125
Net income available to common shareholders 143,111 27,215 315,648 168,857
Operating Segments        
Segment Information [Line Items]        
Gross premiums written 2,284,378 2,113,483 4,666,354 4,748,091
Net premiums written 1,446,357 1,316,847 3,054,713 3,129,719
Net premiums earned 1,265,745 1,277,052 2,495,944 2,535,297
Other insurance related income 5,524 2,213 6,100 8,906
Net losses and loss expenses (736,257) (769,587) (1,456,899) (1,502,285)
Acquisition costs (253,265) (257,582) (483,638) (505,932)
Underwriting-related general and administrative expenses and corporate expenses (133,255) (135,403) (273,650) (280,499)
Underwriting income $ 148,492 $ 116,693 $ 287,857 $ 255,487
Net losses and loss expenses ratio (as a percent) 58.20% 60.30% 58.40% 59.30%
Acquisition cost ratio (as a percent) 20.00% 20.20% 19.40% 20.00%
General and administrative expense ratio (as a percent) 13.30% 12.90% 13.40% 13.10%
Combined ratio (as a percent) 91.50% 93.40% 91.20% 92.40%
Goodwill and intangible assets $ 293,143 $ 304,060 $ 293,143 $ 304,060
Operating Segments | Insurance        
Segment Information [Line Items]        
Gross premiums written 1,684,150 1,469,622 3,099,762 2,796,886
Net premiums written 1,021,021 869,419 1,903,597 1,713,332
Net premiums earned 842,751 768,724 1,659,206 1,521,539
Other insurance related income 58 237 112 319
Net losses and loss expenses (457,650) (421,836) (907,117) (827,579)
Acquisition costs (156,972) (144,732) (304,030) (283,543)
Underwriting-related general and administrative expenses and corporate expenses (113,534) (108,577) (230,164) (222,527)
Underwriting income $ 114,653 $ 93,816 $ 218,007 $ 188,209
Net losses and loss expenses ratio (as a percent) 54.30% 54.90% 54.70% 54.40%
Acquisition cost ratio (as a percent) 18.60% 18.80% 18.30% 18.60%
General and administrative expense ratio (as a percent) 13.50% 14.10% 13.90% 14.70%
Combined ratio (as a percent) 86.40% 87.80% 86.90% 87.70%
Goodwill and intangible assets $ 293,143 $ 304,060 $ 293,143 $ 304,060
Operating Segments | Reinsurance        
Segment Information [Line Items]        
Gross premiums written 600,228 643,861 1,566,592 1,951,205
Net premiums written 425,336 447,428 1,151,116 1,416,387
Net premiums earned 422,994 508,328 836,738 1,013,758
Other insurance related income 5,466 1,976 5,988 8,587
Net losses and loss expenses (278,607) (347,751) (549,782) (674,706)
Acquisition costs (96,293) (112,850) (179,608) (222,389)
Underwriting-related general and administrative expenses and corporate expenses (19,721) (26,826) (43,486) (57,972)
Underwriting income $ 33,839 $ 22,877 $ 69,850 $ 67,278
Net losses and loss expenses ratio (as a percent) 65.90% 68.40% 65.70% 66.60%
Acquisition cost ratio (as a percent) 22.80% 22.20% 21.50% 21.90%
General and administrative expense ratio (as a percent) 4.60% 5.30% 5.20% 5.70%
Combined ratio (as a percent) 93.30% 95.90% 92.40% 94.20%
Goodwill and intangible assets $ 0 $ 0 $ 0 $ 0
Segment Reconciling Items        
Segment Information [Line Items]        
Net investment income 136,829 92,214 270,601 183,569
Net investment gains (losses) (24,370) (173,263) (44,558) (267,771)
Foreign exchange (losses) gains (30,104) 57,000 (38,814) 101,274
Interest expense and financing costs (16,738) (15,241) (33,632) (30,805)
Reorganization expenses 0 (15,728) 0 (15,728)
Amortization of intangible assets (2,729) (2,729) (5,458) (5,458)
Corporate Expenses        
Segment Information [Line Items]        
Underwriting-related general and administrative expenses and corporate expenses $ (35,248) $ (30,183) $ (61,664) $ (54,128)