SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2014

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 Insurance	2014			2013			2012
Recorded asset at beginning of year	$	67,663		$	64,947		$	60,668
Underwriting costs deferred	166,508			149,891			138,723
Amortization of deferred policy acquisition costs	(161,310		)	(147,175		)	(132,771		)
Amortization of value of business acquired	—			—			(1,673		)
Recorded asset at end of year	$	72,861		$	67,663		$	64,947
Life Insurance
Recorded asset at beginning of year	$	82,429		$	40,353		$	45,986
Underwriting costs deferred	7,357			6,476			6,578
Amortization of deferred policy acquisition costs	(6,139		)	(6,502		)	(7,390		)
	$	83,647		$	40,327		$	45,174
Change in "shadow" deferred policy acquisition costs	(16,789		)	42,102			(4,821		)
Recorded asset at end of year	$	66,858		$	82,429		$	40,353
Total
Recorded asset at beginning of year	$	150,092		$	105,300		$	106,654
Underwriting costs deferred	173,865			156,367			145,301
Amortization of deferred policy acquisition costs	(167,449		)	(153,677		)	(140,161		)
Amortization of value of business acquired	—			—			(1,673		)
	$	156,508		$	107,990		$	110,121
Change in "shadow" deferred policy acquisition costs	(16,789		)	42,102			(4,821		)
Recorded asset at end of year	$	139,719		$	150,092		$	105,300

Schedule of Estimated Useful Lives

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

	Useful Life
Computer equipment and software	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
Airplane	Five years