Consolidated Balance Sheets Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Investments:
Fixed maturity securities (amortized cost of $18,988,459 and $18,715,483; allowance for expected credit losses of $37,249 and $37,466 at March 31, 2023 and December 31, 2022, respectively)	$ 18,091,113	$ 17,587,349
Investment funds	1,601,567	1,608,548
Real estate	1,338,504	1,340,622
Equity securities	1,279,955	1,185,894
Arbitrage trading account	609,001	944,230
Loans receivable (net of allowance for expected credit losses of $1,609 and $1,791 at March 31, 2023 and December 31, 2022, respectively)	194,944	193,002
Total investments	23,115,084	22,859,645
Cash and cash equivalents	1,242,357	1,449,346
Premiums and fees receivable (net of allowance for expected credit losses of $32,353 and $30,660 at March 31, 2023 and December 31, 2022, respectively)	2,814,504	2,779,244
Due from reinsurers (net of allowance for expected credit losses of $8,703 and $8,064 at March 31, 2023 and December 31, 2022, respectively)	3,282,288	3,187,730
Deferred policy acquisition costs	786,502	763,486
Prepaid reinsurance premiums	701,295	696,468
Trading account receivables from brokers and clearing organizations	583,970	233,863
Property, furniture and equipment	421,102	423,232
Goodwill	185,509	185,509
Accrued investment income	181,342	166,784
Current and deferred federal and foreign income taxes	205,291	333,774
Other assets	776,820	736,022
Total assets	34,296,064	33,815,103
Liabilities:
Reserves for losses and loss expenses	17,431,635	17,011,223
Unearned premiums	5,385,886	5,297,654
Due to reinsurers	539,333	523,131
Other liabilities	1,137,055	1,377,740
Senior notes and other debt	1,827,981	1,828,823
Subordinated debentures	1,008,551	1,008,371
Total liabilities	27,330,441	27,046,942
Equity:
Perferred 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, 177,930,502 and 183,411,907 shares, respectively	105,803	105,803
Additional paid-in capital	1,008,128	997,534
Retained earnings	10,296,539	10,161,005
Accumulated other comprehensive loss	(1,078,917)	(1,264,581)
Treasury stock, at cost, 266,478,098 and 264,468,528 shares, respectively	(3,387,538)	(3,251,429)
Total stockholders’ equity	6,944,015	6,748,332
Noncontrolling interests	21,608	19,829
Total equity	6,965,623	6,768,161
Total liabilities and equity	$ 34,296,064	$ 33,815,103