Consolidated Balance Sheets Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Investments:
Fixed maturity securities (amortized cost of $20,232,773 and $18,715,483; allowance for expected credit losses of $46,412 and $37,466 at September 30, 2023 and December 31, 2022, respectively)	$ 19,035,305	$ 17,587,349
Investment funds	1,600,495	1,608,548
Real estate	1,270,545	1,340,622
Equity securities	1,182,061	1,185,894
Arbitrage trading account	825,049	944,230
Loans receivable (net of allowance for expected credit losses of $4,009 and $1,791 at September 30, 2023 and December 31, 2022, respectively)	177,750	193,002
Total investments	24,091,205	22,859,645
Cash and cash equivalents	1,646,074	1,449,346
Premiums and fees receivable (net of allowance for expected credit losses of $33,602 and $30,660 at September 30, 2023 and December 31, 2022, respectively)	3,104,609	2,779,244
Due from reinsurers (net of allowance for expected credit losses of $9,443 and $8,064 at September 30, 2023 and December 31, 2022, respectively)	3,426,196	3,187,730
Deferred policy acquisition costs	854,374	763,486
Prepaid reinsurance premiums	756,236	696,468
Trading account receivables from brokers and clearing organizations	401,982	233,863
Property, furniture and equipment	423,279	423,232
Goodwill	174,597	185,509
Accrued investment income	201,206	166,784
Current and deferred federal and foreign income taxes	291,363	333,774
Other assets	740,227	736,022
Total assets	36,111,348	33,815,103
Liabilities:
Reserves for losses and loss expenses	18,273,310	17,011,223
Unearned premiums	5,899,738	5,297,654
Due to reinsurers	626,448	523,131
Trading account securities sold but not yet purchased	7,538	0
Other liabilities	1,537,449	1,377,740
Senior notes and other debt	1,828,046	1,828,823
Subordinated debentures	1,008,910	1,008,371
Total liabilities	29,181,439	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	1,008,301	997,534
Retained earnings	10,800,697	10,161,005
Accumulated other comprehensive loss	(1,322,819)	(1,264,581)
Treasury stock, at cost, 270,971,091 and 264,468,528 shares, respectively	(3,676,403)	(3,251,429)
Total stockholders’ equity	6,915,579	6,748,332
Noncontrolling interests	14,330	19,829
Total equity	6,929,909	6,768,161
Total liabilities and equity	$ 36,111,348	$ 33,815,103