Consolidated Balance Sheets Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Investments:
Fixed maturity securities	$ 13,218,729	$ 13,551,250
Investment funds	1,208,586	1,155,677
Real estate	1,883,622	1,469,601
Arbitrage trading account	721,088	617,649
Equity securities	472,389	576,647
Loans receivable	98,088	79,684
Total investments	17,602,502	17,450,508
Cash and cash equivalents	911,202	950,471
Premiums and fees receivable	1,902,336	1,773,844
Due from reinsurers	1,841,056	1,783,200
Deferred policy acquisition costs	514,499	507,549
Prepaid reinsurance premiums	503,292	472,009
Trading account receivables from brokers and clearing organizations	119,628	189,280
Property, furniture and equipment	427,619	422,960
Goodwill	178,975	178,945
Accrued investment income	141,902	136,597
Federal and foreign income taxes	576	0
Other assets	477,557	434,554
Total assets	24,621,144	24,299,917
Liabilities:
Reserves for losses and loss expenses	11,736,575	11,670,408
Unearned premiums	3,441,774	3,290,180
Due to reinsurers	252,358	246,460
Trading account securities sold but not yet purchased	90,281	64,358
Federal and foreign income taxes	0	98,091
Other liabilities	935,356	981,987
Senior notes and other debt	1,792,055	1,769,052
Subordinated debentures	907,117	728,218
Total liabilities	19,155,516	18,848,754
Equity:
Common stock, par value $.20 per share: Authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 121,716,402 and 121,514,852 shares, respectively	47,024	47,024
Additional paid-in capital	1,060,308	1,048,283
Retained earnings	7,423,162	6,956,882
Accumulated other comprehensive (loss) income	(395,842)	68,541
Treasury stock, at cost, 113,401,516 and 113,603,066 shares, respectively	2,708,534	2,709,386
Total stockholders’ equity	5,426,118	5,411,344
Noncontrolling interests	39,510	39,819
Total equity	5,465,628	5,451,163
Total liabilities and equity	$ 24,621,144	$ 24,299,917