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Consolidated Balance Sheets Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Investments:    
Debt Securities, Available-for-Sale and Held-to-Maturity, after Allowance for Credit Loss $ 21,082,676 $ 20,178,308
Investment funds 1,589,119 1,621,655
Real estate 1,279,306 1,249,874
Equity securities 1,078,092 1,090,347
Arbitrage trading account 1,221,861 938,049
Loans receivable (net of allowance for expected credit losses of $1,813 and $3,004 at June 30, 2024 and December 31, 2023, respectively) 349,325 201,271
Total investments 26,600,379 25,279,504
Cash and cash equivalents 1,580,270 1,363,195
Premiums and fees receivable (net of allowance for expected credit losses of $37,279 and $35,110 at June 30, 2024 and December 31, 2023, respectively) 3,430,991 3,109,334
Due from reinsurers (net of allowance for expected credit losses of $10,255 and $8,404 at June 30, 2024 and December 31, 2023, respectively) 3,501,892 3,534,527
Deferred policy acquisition costs 939,453 861,609
Prepaid reinsurance premiums 814,858 758,927
Trading account receivables from brokers and clearing organizations 40,705 303,614
Property, furniture and equipment 477,034 426,803
Goodwill 184,089 174,597
Accrued investment income 225,214 213,408
Current and deferred federal and foreign income taxes 220,080 220,756
Other assets 894,954 865,556
Total assets 38,909,919 37,111,830
Liabilities:    
Reserves for losses and loss expenses 19,567,190 18,739,652
Unearned premiums 6,332,699 5,922,326
Due to reinsurers 730,407 631,164
Trading account securities sold but not yet purchased 81,273 9,357
Other liabilities 1,573,428 1,503,053
Senior notes and other debt 1,828,422 1,827,951
Subordinated debentures 1,009,449 1,009,090
Total liabilities 31,122,868 29,642,593
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 158,705 158,705
Additional paid-in capital 986,892 964,789
Retained earnings 11,669,567 11,040,908
Accumulated other comprehensive loss (1,033,640) (925,838)
Treasury stock, at cost, 412,875,299 and 408,704,807 shares, respectively (4,007,742) (3,783,133)
Total stockholders’ equity 7,773,782 7,455,431
Noncontrolling interests 13,269 13,806
Total equity 7,787,051 7,469,237
Total liabilities and equity $ 38,909,919 $ 37,111,830