SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2013

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Deferred Policy Acquisition Costs

The following table is a summary of the components of DAC that are reported in the accompanying Consolidated Financial Statements:

Property & Casualty	2013			2012			2011
Recorded asset at beginning of year	$	64,947		$	60,668		$	44,681
Underwriting costs deferred	149,891			138,723			132,503
Amortization of deferred policy acquisition costs	(147,175		)	(132,771		)	(118,189		)
Value of business acquired	—			—			27,436
Amortization of value of business acquired	—			(1,673		)	(25,763		)
Recorded asset at end of year	$	67,663		$	64,947		$	60,668
Life Insurance
Recorded asset at beginning of year	$	40,353		$	45,986		$	42,843
Underwriting costs deferred	6,476			6,578			8,965
Amortization of deferred policy acquisition costs	(6,502		)	(7,390		)	(9,224		)
	$	40,327		$	45,174		$	42,584
Change in “shadow” deferred policy acquisition costs	42,102			(4,821		)	3,402
Recorded asset at end of year	$	82,429		$	40,353		$	45,986
Total
Recorded asset at beginning of year	$	105,300		$	106,654		$	87,524
Underwriting costs deferred	156,367			145,301			141,468
Amortization of deferred policy acquisition costs	(153,677		)	(140,161		)	(127,413		)
Value of business acquired	—			—			27,436
Amortization of value of business acquired	—			(1,673		)	(25,763		)
	$	107,990		$	110,121		$	103,252
Change in “shadow” deferred policy acquisition costs	42,102			(4,821		)	3,402
Recorded asset at end of year	$	150,092		$	105,300		$	106,654

Schedule of Estimated Useful Lives

Depreciation is computed primarily by the straight-line method over the following estimated useful lives:

	Useful Life
Computer equipment	Three years
Furniture and fixtures	Seven years
Leasehold improvements	Shorter of the lease term or useful life of the asset
Real estate	Seven to thirty-nine years
Software	Three years