Consolidated Balance Sheets - USD ($) $ in Thousands		Dec. 31, 2020		Dec. 31, 2019
Investments:
Equity securities		$ 2,718,902		$ 2,505,496
Debt securities		15,618,470		14,211,745
Short-term investments		714,208		914,776
Marketable Securities, Total		19,051,580		17,632,017
Commercial mortgage loans		670,239		686,206
Other invested assets		465,153		573,605
Total investments		20,186,972		18,891,828
Cash		791,442		1,179,098
Accrued investment income		88,760		96,516
Premium balances receivable		1,145,341		948,010
Reinsurance recoverables		1,781,096		1,681,962
Ceded unearned premiums		311,898		248,153
Deferred acquisition costs		595,117		522,577
Property and equipment at cost, net of accumulated depreciation and amortization		267,872		205,397
Goodwill	[1]	614,163		523,021
Intangible assets, net of amortization	[1]	787,462		685,953
Current taxes receivable		3,189		4,081
Net deferred tax assets		0		5,860
Funds held under reinsurance agreements		794,453		755,515
Other assets		1,559,245		1,183,633
Total assets		28,927,010		26,931,604
Liabilities, Redeemable Noncontrolling Interests and Stockholders’ Equity
Loss and loss adjustment expenses		12,970,626	[2]	11,928,359
Unearned premiums		2,984,060		2,566,170
Senior Notes and other debt		2,135,946		1,751,113
Reinsurance payable		208,384		188,399
Net deferred tax liabilities		43,547		0
Other liabilities		1,594,918		1,516,076
Total liabilities		19,937,481		17,950,117
Redeemable noncontrolling interests		233,809		204,753
Common stock		17,460		17,460
Contributed capital		3,613,454		3,608,638
Accumulated other comprehensive income		452,402		171,350
Treasury stock		(1,645,930)		(1,455,877)
Retained earnings		6,318,334		6,435,163
Total stockholders’ equity attributable to Alleghany stockholders		8,755,720		8,776,734
Total liabilities, redeemable noncontrolling interests and stockholders’ equity		$ 28,927,010		$ 26,931,604

[1] Goodwill and intangible assets have been reduced by amounts written-down in prior periods, as applicable.

[2] Includes unallocated LAE, which aggregate to 1.0 percent of gross loss and LAE reserves as of December 31, 2020. Net loss and LAE reserves by component are shown in the preceding tables, and consolidated gross loss and LAE reserves is presented in the consolidated balance sheets.