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SEGMENT INFORMATION (Details)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Jun. 30, 2025
USD ($)
segment
Jun. 30, 2024
USD ($)
Segment Reporting [Abstract]        
Number of reportable segments | segment     2  
Segment Information [Line Items]        
Net premiums earned $ 1,393,431 $ 1,304,478 $ 2,734,251 $ 2,562,519
Other insurance related income (loss) 8,662 8,526 12,240 16,867
Current accident year net losses and loss expenses     (1,625,845) (1,494,659)
Net favorable prior year reserve development 20,229 0 38,166 0
Acquisition costs (275,897) (265,091) (540,477) (519,345)
Underwriting-related general and administrative expenses (161,078) (148,441) (320,241) (311,813)
Net investment income 187,297 190,975 395,009 358,358
Net investment gains (losses) 43,468 (53,479) 13,462 (62,687)
Foreign exchange (losses) gains (94,885) 7,384 (151,920) 30,936
Interest expense and financing costs (16,586) (17,010) (33,158) (34,157)
Reorganization expenses 0 (14,014) 0 (26,312)
Amortization of intangible assets (2,396) (2,729) (5,125) (5,458)
Income before income taxes and interest in income (loss) of equity method investments 280,262 244,611 516,362 514,249
Income tax (expense) benefit (56,199) (40,547) (100,521) 84,107
Interest in income (loss) of equity method investments (705) 7,900 1,586 9,069
Net income 223,358 211,964 417,427 607,425
Preferred share dividends 7,563 7,563 15,125 15,125
Net income available to common shareholders 215,795 204,401 402,302 592,300
Insurance        
Segment Information [Line Items]        
Net favorable prior year reserve development 15,216 0 29,194 0
Reinsurance        
Segment Information [Line Items]        
Net favorable prior year reserve development 5,013 0 8,972 0
Operating Segments        
Segment Information [Line Items]        
Gross premiums written 2,515,971 2,440,236 5,310,622 5,094,663
Net premiums written 1,635,434 1,573,744 3,385,473 3,295,817
Net premiums earned 1,393,431 1,304,478 2,734,251 2,562,519
Other insurance related income (loss) 8,662 8,526 12,240 16,867
Current accident year net losses and loss expenses (821,983) (765,988) (1,625,845) (1,494,659)
Net favorable prior year reserve development 20,229 0 38,166 0
Acquisition costs (275,897) (265,091) (540,477) (519,345)
Underwriting-related general and administrative expenses (135,241) (120,768) (265,679) (258,561)
Underwriting income $ 189,201 $ 161,157 $ 352,656 $ 306,821
Current accident year loss ratio (as a percent) 59.00% 58.70% 59.50% 58.30%
Prior year reserve development ratio (as a percent) (1.50%) 0.00% (1.40%) 0.00%
Net losses and loss expenses ratio (as a percent) 57.50% 58.70% 58.10% 58.30%
Acquisition cost ratio (as a percent) 19.80% 20.30% 19.80% 20.30%
General and administrative expense ratio (as a percent) 11.60% 11.40% 11.60% 12.20%
Combined ratio (as a percent) 88.90% 90.40% 89.50% 90.80%
Goodwill and intangible assets $ 237,340 $ 282,227 $ 237,340 $ 282,227
Operating Segments | Insurance        
Segment Information [Line Items]        
Gross premiums written 1,932,435 1,814,066 3,588,337 3,388,571
Net premiums written 1,290,510 1,194,197 2,335,090 2,216,551
Net premiums earned 1,032,961 958,212 2,043,047 1,876,159
Other insurance related income (loss) 6 (61) 162 (39)
Current accident year net losses and loss expenses (576,986) (542,591) (1,153,052) (1,039,455)
Net favorable prior year reserve development 15,216 0 29,194 0
Acquisition costs (194,912) (188,026) (388,933) (364,055)
Underwriting-related general and administrative expenses (124,646) (111,894) (244,238) (233,981)
Underwriting income $ 151,639 $ 115,640 $ 286,180 $ 238,629
Current accident year loss ratio (as a percent) 55.90% 56.60% 56.40% 55.40%
Prior year reserve development ratio (as a percent) (1.50%) 0.00% (1.40%) 0.00%
Net losses and loss expenses ratio (as a percent) 54.40% 56.60% 55.00% 55.40%
Acquisition cost ratio (as a percent) 18.90% 19.60% 19.00% 19.40%
General and administrative expense ratio (as a percent) 12.00% 11.70% 12.00% 12.50%
Combined ratio (as a percent) 85.30% 87.90% 86.00% 87.30%
Goodwill and intangible assets $ 237,340 $ 282,227 $ 237,340 $ 282,227
Operating Segments | Reinsurance        
Segment Information [Line Items]        
Gross premiums written 583,536 626,170 1,722,285 1,706,092
Net premiums written 344,924 379,547 1,050,383 1,079,266
Net premiums earned 360,470 346,266 691,204 686,360
Other insurance related income (loss) 8,656 8,587 12,078 16,906
Current accident year net losses and loss expenses (244,997) (223,397) (472,793) (455,204)
Net favorable prior year reserve development 5,013 0 8,972 0
Acquisition costs (80,985) (77,065) (151,544) (155,290)
Underwriting-related general and administrative expenses (10,595) (8,874) (21,441) (24,580)
Underwriting income $ 37,562 $ 45,517 $ 66,476 $ 68,192
Current accident year loss ratio (as a percent) 68.00% 64.50% 68.40% 66.30%
Prior year reserve development ratio (as a percent) (1.40%) 0.00% (1.30%) 0.00%
Net losses and loss expenses ratio (as a percent) 66.60% 64.50% 67.10% 66.30%
Acquisition cost ratio (as a percent) 22.50% 22.30% 21.90% 22.60%
General and administrative expense ratio (as a percent) 2.90% 2.50% 3.10% 3.60%
Combined ratio (as a percent) 92.00% 89.30% 92.10% 92.50%
Goodwill and intangible assets $ 0 $ 0 $ 0 $ 0
Segment Reconciling Items        
Segment Information [Line Items]        
Net investment income 187,297 190,975 395,009 358,358
Net investment gains (losses) 43,468 (53,479) 13,462 (62,687)
Foreign exchange (losses) gains (94,885) 7,384 (151,920) 30,936
Interest expense and financing costs (16,586) (17,010) (33,158) (34,157)
Reorganization expenses 0 (14,014) 0 (26,312)
Amortization of intangible assets (2,396) (2,729) (5,125) (5,458)
Corporate expenses        
Segment Information [Line Items]        
Underwriting-related general and administrative expenses $ (25,837) $ (27,673) $ (54,562) $ (53,252)