Consolidated Balance Sheets Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Investments:
Fixed maturity securities	$ 13,572,402	$ 13,551,250
Real estate	1,917,250	1,469,601
Investment funds	1,251,748	1,155,677
Arbitrage trading account	678,321	617,649
Equity securities	325,254	576,647
Loans receivable	96,590	79,684
Total investments	17,841,565	17,450,508
Cash and cash equivalents	819,366	950,471
Premiums and fees receivable	1,872,460	1,773,844
Due from reinsurers	1,859,917	1,783,200
Deferred policy acquisition costs	513,092	507,549
Prepaid reinsurance premiums	497,285	472,009
Trading account receivables from brokers and clearing organizations	191,394	189,280
Property, furniture and equipment	424,754	422,960
Goodwill	171,095	178,945
Accrued investment income	148,646	136,597
Federal and foreign income taxes	37,196	0
Other assets	478,879	434,554
Total assets	24,855,649	24,299,917
Liabilities:
Reserves for losses and loss expenses	11,872,162	11,670,408
Unearned premiums	3,454,955	3,290,180
Due to reinsurers	231,197	246,460
Trading account securities sold but not yet purchased	112,355	64,358
Federal and foreign income taxes	0	98,091
Other liabilities	1,008,145	981,987
Senior notes and other debt	1,790,498	1,769,052
Subordinated debentures	907,304	728,218
Total liabilities	19,376,616	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	1,058,074	1,048,283
Retained earnings	7,505,706	6,956,882
Accumulated other comprehensive (loss) income	(474,938)	68,541
Treasury stock, at cost, 113,000,155 and 113,603,066 shares, respectively	(2,698,018)	(2,709,386)
Total stockholders’ equity	5,437,848	5,411,344
Noncontrolling interests	41,185	39,819
Total equity	5,479,033	5,451,163
Total liabilities and equity	$ 24,855,649	$ 24,299,917