Consolidated Balance Sheets Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Investments:
Fixed maturity securities	$ 13,514,085	$ 13,190,668
Investment funds	1,190,963	1,198,146
Real estate	1,317,089	1,184,981
Arbitrage trading account	634,016	299,999
Equity securities available for sale	612,807	669,200
Loans receivable	96,064	106,798
Total investments	17,365,024	16,649,792
Cash and cash equivalents	788,354	795,285
Premiums and fees receivable	1,867,048	1,701,854
Due from reinsurers	1,646,587	1,743,980
Deferred policy acquisition costs	539,961	537,890
Prepaid reinsurance premiums	482,258	413,140
Trading account receivables from brokers and clearing organizations	164,696	484,593
Property, furniture and equipment	424,984	349,432
Goodwill	144,913	144,513
Accrued investment income	136,663	127,047
Other assets	433,003	402,550
Total assets	23,993,491	23,350,076
Liabilities:
Reserves for losses and loss expenses	11,324,267	11,197,195
Unearned premiums	3,425,534	3,283,300
Due to reinsurers	221,633	213,128
Trading account securities sold but not yet purchased	62,860	51,179
Federal and foreign income taxes	94,887	119,597
Other liabilities	1,051,322	916,318
Senior notes and other debt	1,759,115	1,760,595
Subordinated debentures	727,924	727,630
Total liabilities	18,667,542	18,268,942
Equity:
Authorized 5,000,000 shares; issued and outstanding - none	0	0
Authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 121,271,028 and 121,193,599 shares, respectively	47,024	47,024
Additional paid-in capital	1,057,939	1,037,446
Retained earnings	6,735,066	6,595,987
Accumulated other comprehensive income	133,302	55,568
Treasury stock, at cost, 113,846,890 and 113,924,319 shares, respectively	2,686,813	2,688,817
Total stockholders’ equity	5,286,518	5,047,208
Noncontrolling interests	39,431	33,926
Total equity	5,325,949	5,081,134
Total liabilities and equity	$ 23,993,491	$ 23,350,076