Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Investments:
Fixed maturity securities	$ 13,190,668	$ 12,444,394
Equity securities available for sale	669,200	150,866
Arbitrage trading account	299,999	376,697
Loans receivable	106,798	273,103
Investment funds	1,198,146	1,170,040
Equity securities available for sale	1,184,981	936,367
Total investments	16,649,792	15,351,467
Cash and cash equivalents	795,285	763,631
Premiums and fees receivable	1,701,854	1,669,186
Due from reinsurers	1,743,980	1,532,829
Accrued investment income	127,047	123,164
Prepaid reinsurance premiums	413,140	394,387
Deferred policy acquisition costs	537,890	513,128
Property, furniture and equipment	349,432	348,224
Goodwill	144,513	153,291
Accrued investment income	484,593	383,115
Current federal and foreign income taxes	14,768	55,763
Other assets	402,550	442,782
Total assets	23,364,844	21,730,967
Liabilities:
Reserves for losses and loss expenses	11,197,195	10,669,150
Unearned premiums	3,283,300	3,137,133
Due to reinsurers	213,128	224,752
Trading account securities sold but not yet purchased	51,179	37,035
Deferred federal and foreign income taxes	134,365	6,811
Other liabilities	916,318	837,937
Subordinated debentures	727,630	340,320
Senior notes and other debt	1,760,595	1,844,621
Total liabilities	18,283,710	17,097,759
Equity:
Preferred stock, par value $.10 per share: Authorized 5,000,000 shares; issued and outstanding - none	0	0
Common stock, par value $.20 per share: Authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 132,233,167 and 136,017,732 shares, respectively	47,024	47,024
Additional paid-in capital	1,037,446	1,005,455
Retained earnings	6,595,987	6,178,070
Accumulated other comprehensive income (loss)	55,568	(66,698)
Treasury stock, at cost, 113,924,319 and 111,810,081 shares, respectively	(2,688,817)	(2,563,605)
Total common stockholders’ equity	5,047,208	4,600,246
Noncontrolling interests	33,926	32,962
Total equity	5,081,134	4,633,208
Total liabilities and equity	$ 23,364,844	$ 21,730,967