Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Investments:
Fixed maturity securities (amortized cost of $23,010,899 and $20,915,245; allowance for expected credit losses of $671 and $36,751 at December 31, 2024 and 2023)	$ 22,397,865	$ 20,178,308
Investment funds	1,468,246	1,621,655
Real estate	1,291,455	1,249,874
Arbitrage trading account	1,122,599	938,049
Equity securities	1,203,788	1,090,347
Loans receivable (net of allowance for expected credit losses of $1,114 and $3,004 at December 31, 2024 and 2023)	405,453	201,271
Total investments	27,889,406	25,279,504
Cash and cash equivalents	1,974,747	1,363,195
Premiums and fees receivable (net of allowance for expected credit losses of $39,884 and $35,110 at December 31, 2024 and 2023)	3,266,845	3,109,334
Due from reinsurers (net of allowance for expected credit losses of $8,350 and $8,404 at December 31, 2024 and 2023)	3,557,695	3,534,527
Deferred policy acquisition costs	951,728	861,609
Prepaid reinsurance premiums	823,207	758,927
Trading account receivable from brokers and clearing organizations	60,327	303,614
Property, furniture and equipment	478,511	426,803
Goodwill	184,332	174,597
Accrued investment income	243,772	213,408
Current federal and foreign income taxes	39,382	1,318
Deferred federal and foreign income taxes	220,217	309,623
Other assets	877,099	865,556
Total assets	40,567,268	37,202,015
Liabilities:
Reserves for losses and loss expenses	20,368,030	18,739,652
Unearned premiums	6,375,112	5,922,326
Due to reinsurers	668,652	631,164
Trading account securities sold but not yet purchased	73,358	9,357
Current federal and foreign income taxes	53,482	47,525
Deferred federal and foreign income taxes	65,151	42,660
Senior notes and other debt	1,831,158	1,827,951
Subordinated debentures	1,009,808	1,009,090
Other liabilities	1,715,078	1,503,053
Total liabilities	32,159,829	29,732,778
Equity:
Preferred 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, 177,825,150 and 183,411,907 shares, respectively	158,705	158,705
Additional paid-in capital	984,825	964,789
Retained earnings	12,265,070	11,040,908
Accumulated other comprehensive loss	(934,269)	(925,838)
Treasury stock, at cost, 413,455,739 and 408,704,807 shares, respectively	(4,079,220)	(3,783,133)
Total common stockholders’ equity	8,395,111	7,455,431
Noncontrolling interests	12,328	13,806
Total equity	8,407,439	7,469,237
Total liabilities and equity	$ 40,567,268	$ 37,202,015