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DERIVATIVE INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2023
Summary of Derivative Instruments [Abstract]  
Schedule of Gross and Net Amounts of Recognized Derivative Assets and Liabilities at Fair Value
The tables below show the gross and net amounts of recognized derivative assets and liabilities at fair value, including the location on the consolidated balance sheets of the Company’s principal derivative instruments:
Derivative Assets
At September 30, 2023Gross Amounts of Recognized AssetsGross Amounts Offset in the Balance Sheet Net Amounts of Assets Presented in the Balance SheetBalance Sheet LocationCollateral ReceivedNet Amount
Derivative instruments not designated as hedges
Interest rate futures$6,819 $— $6,819 Other assets$— $6,819 
Foreign currency forward contracts (1)
1,745 — 1,745 Other assets— 1,745 
Foreign currency forward contracts (2)
4,365 — 4,365 Other assets— 4,365 
Credit default swaps3,650 — 3,650 Other assets— 3,650 
Total derivative instruments not designated as hedges16,579 — 16,579 — 16,579 
Derivative instruments designated as hedges
Foreign currency forward contracts (3)
1,654 — 1,654 Other assets— 1,654 
Total$18,233 $— $18,233 $— $18,233 
Derivative Liabilities
At September 30, 2023Gross Amounts of Recognized LiabilitiesGross Amounts Offset in the Balance Sheet Net Amounts of Liabilities Presented in the Balance SheetBalance Sheet LocationCollateral PledgedNet Amount
Derivative instruments not designated as hedges
Interest rate futures$7,139 $— $7,139 Other liabilities$6,984 $155 
Foreign currency forward contracts (1)
17,956 — 17,956 Other liabilities— 17,956 
Foreign currency forward contracts (2)
508 — 508 Other liabilities— 508 
Credit default swaps9,893 — 9,893 Other liabilities9,893 — 
Total derivative instruments not designated as hedges35,496 — 35,496 16,877 18,619 
Derivative instruments designated as hedges
Foreign currency forward contracts (3)
61 — 61 Other liabilities— 61 
Total$35,557 $— $35,557 $16,877 $18,680 
(1)Contracts used to manage foreign currency risks in underwriting and non-investment operations.
(2)Contracts used to manage foreign currency risks in investment operations.
(3)Contracts designated as hedges of net investments in a foreign operation.
Derivative Assets
At December 31, 2022Gross Amounts of Recognized AssetsGross Amounts Offset in the Balance Sheet Net Amounts of Assets Presented in the Balance SheetBalance Sheet LocationCollateral ReceivedNet Amount
Derivative instruments not designated as hedges
Interest rate futures$387 $— $387 Other assets$— $387 
Foreign currency forward contracts (1)
31,755 — 31,755 Other assets— 31,755 
Foreign currency forward contracts (2)
11,866 — 11,866 Other assets— 11,866 
Credit default swaps413 — 413 Other assets— 413 
Total derivative instruments not designated as hedges44,421 — 44,421 — 44,421 
Total$44,421 $— $44,421 $— $44,421 
Derivative Liabilities
At December 31, 2022Gross Amounts of Recognized LiabilitiesGross Amounts Offset in the Balance Sheet Net Amounts of Liabilities Presented in the Balance SheetBalance Sheet LocationCollateral PledgedNet Amount
Derivative instruments not designated as hedges
Interest rate futures$1,685 $— $1,685 Other liabilities$209 $1,476 
Foreign currency forward contracts (1)
1,160 — 1,160 Other liabilities— 1,160 
Foreign currency forward contracts (2)
2,165 — 2,165 Other liabilities— 2,165 
Credit default swaps1,055 — 1,055 Other liabilities100 955 
Equity futures323 — 323 Other liabilities— 323 
Total derivative instruments not designated as hedges6,388 — 6,388 309 6,079 
Derivative instruments designated as hedges
Foreign currency forward contracts (3)
1,193 — 1,193 Other liabilities— 1,193 
Total$7,581 $— $7,581 $309 $7,272 
(1)Contracts used to manage foreign currency risks in underwriting and non-investment operations.
(2)Contracts used to manage foreign currency risks in investment operations.
(3)Contracts designated as hedges of net investments in a foreign operation.
Schedule of Location and Amount of the Gain (Loss) Recognized
The location and amount of the gain (loss) recognized in the Company’s consolidated statements of operations related to its principal derivative instruments are shown in the following table:
Location of gain (loss)
recognized on derivatives		Amount of gain (loss) recognized on
derivatives
Three months ended September 30,20232022
Derivative instruments not designated as hedges
Interest rate futures (1)
Net realized and unrealized gains (losses) on investments$28,366 $(40,245)
Foreign currency forward contracts (2)
Net foreign exchange gains (losses)(23,686)(32,346)
Foreign currency forward contracts (3)
Net foreign exchange gains (losses)(10,938)6,576 
Foreign currency option contractsNet foreign exchange gains (losses)— 208 
Credit default swaps (1)
Net realized and unrealized gains (losses) on investments2,228 24 
Total return swaps (1)
Net realized and unrealized gains (losses) on investments— (6)
Equity futures (4)
Net realized and unrealized gains (losses) on investments— (16,594)
WarrantsNet realized and unrealized gains (losses) on investments— 1,241 
Total derivative instruments not designated as hedges(4,030)(81,142)
Derivative instruments designated as hedges
Foreign currency forward contracts (5)
Accumulated other comprehensive income (loss)1,818 4,925 
Total$(2,212)$(76,217)
Location of gain (loss)
recognized on derivatives		Amount of gain (loss) recognized on
derivatives
Nine months ended September 30,20232022
Derivative instruments not designated as hedges
Interest rate futures (1)
Net realized and unrealized gains (losses) on investments$6,819 $(83,731)
Foreign currency forward contracts (2)
Net foreign exchange gains (losses)(14,041)(105,103)
Foreign currency forward contracts (3)
Net foreign exchange gains (losses)(25,729)14,747 
Foreign currency option contractsNet foreign exchange gains (losses)— (236)
Credit default swaps (1)
Net realized and unrealized gains (losses) on investments(27,186)(6,450)
Total return swaps (1)
Net realized and unrealized gains (losses) on investments— (6)
Equity futures (4)
Net realized and unrealized gains (losses) on investments(1,928)(73,000)
WarrantsNet realized and unrealized gains (losses) on investments— 1,241 
Total derivative instruments not designated as hedges(62,065)(252,538)
Derivative instruments designated as hedges
Foreign currency forward contracts (5)
Accumulated other comprehensive income (loss)3,357 9,219 
Total$(58,708)$(243,319)
(1)Fixed income related derivatives included in net realized and unrealized gains (losses) on investment-related derivatives. See “Note 3. Investments” for additional information.
(2)Contracts used to manage foreign currency risks in underwriting and non-investment operations.
(3)Contracts used to manage foreign currency risks in investment operations.
(4)Equity related derivatives included in net realized and unrealized gains (losses) on investment-related derivatives. See “Note 3. Investments” for additional information.
(5)Contracts designated as hedges of net investments in a foreign operation.
Schedule of Derivative Instruments Designated as Hedges of a Net Investment in Foreign Operation
The table below provides a summary of derivative instruments designated as hedges of net investments in a foreign operation, including the weighted average U.S. dollar equivalent of foreign denominated net (liabilities) assets that were hedged and the resulting derivative gains (losses) that are recorded in foreign currency translation adjustments, net of tax, within accumulated other comprehensive income (loss) on the Company’s consolidated statements of changes in shareholders’ equity:
Three months endedNine months ended
September 30,
2023		September 30,
2022		September 30,
2023		September 30,
2022
Weighted average of U.S. dollar equivalent of foreign denominated net assets (liabilities) $57,216 $65,599 $58,779 $76,839 
Derivative gains (losses) (1)
$1,818 $4,925 $3,357 $9,219 
(1)Derivative gains (losses) from derivative instruments designated as hedges of the net investment in a foreign operation are recorded in foreign currency translation adjustments, net of tax, within accumulated other comprehensive income (loss) on the Company’s consolidated statements of changes in shareholders’ equity.