Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Investments:
Fixed maturity securities	$ 13,551,250	$ 13,190,668
Equity securities available for sale	576,647	669,200
Arbitrage trading account	617,649	299,999
Loans receivable	79,684	106,798
Investment funds	1,155,677	1,198,146
Equity securities available for sale	1,469,601	1,184,981
Total investments	17,450,508	16,649,792
Cash and cash equivalents	950,471	795,285
Premiums and fees receivable	1,773,844	1,701,854
Due from reinsurers	1,783,200	1,743,980
Accrued investment income	136,597	127,047
Prepaid reinsurance premiums	472,009	413,140
Deferred policy acquisition costs	507,549	537,890
Property, furniture and equipment	422,960	349,432
Goodwill	178,945	144,513
Accrued investment income	189,280	484,593
Current federal and foreign income taxes	0	14,768
Other assets	434,554	402,550
Total assets	24,299,917	23,364,844
Liabilities:
Reserves for losses and loss expenses	11,670,408	11,197,195
Unearned premiums	3,290,180	3,283,300
Due to reinsurers	246,460	213,128
Trading account securities sold but not yet purchased	64,358	51,179
Current federal and foreign income taxes	11,327	0
Deferred federal and foreign income taxes	86,764	134,365
Other liabilities	981,987	916,318
Senior notes and other debt	1,769,052	1,760,595
Subordinated debentures	728,218	727,630
Total liabilities	18,848,754	18,283,710
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, 1221,514,852 and 121,193,599 shares, respectively	47,024	47,024
Additional paid-in capital	1,048,283	1,037,446
Retained earnings	6,956,882	6,595,987
Accumulated other comprehensive income	68,541	55,568
Treasury stock, at cost, 113,603,066 and 113,924,319 shares, respectively	(2,709,386)	(2,688,817)
Total common stockholders’ equity	5,411,344	5,047,208
Noncontrolling interests	39,819	33,926
Total equity	5,451,163	5,081,134
Total liabilities and equity	$ 24,299,917	$ 23,364,844