Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Investments:
Fixed maturities available for sale, at fair value (amortized cost: $16,598,808 and $14,829,902)	$ 16,894,526	$ 14,699,010
Short-term investments available for sale, at fair value (amortized cost: $957,283 and $956,238)	956,546	955,880
Collateral received under securities lending, at fair value (amortized cost: $388,366 and $274,125)	388,376	274,133
Equity securities, at fair value	838,925	338,899
Investments accounted for using the fair value option	3,663,477	3,983,571
Investments accounted for using the equity method	1,660,396	1,493,791
Total investments	24,402,246	21,745,284
Cash	726,230	646,556
Accrued investment income	117,937	114,641
Securities pledged under securities lending, at fair value (amortized cost: $378,738 and $266,786)	379,868	268,395
Premiums receivable	1,778,717	1,299,150
Reinsurance recoverable on unpaid and paid losses and loss adjustment expenses	4,346,816	2,919,372
Contractholder receivables	2,119,460	2,079,111
Ceded unearned premiums	1,234,683	975,469
Deferred acquisition costs	633,400	569,574
Receivable for securities sold	24,133	36,246
Goodwill and intangible assets	738,083	634,920
Other assets	1,383,788	929,611
Total assets	37,885,361	32,218,329
Liabilities
Reserve for losses and loss adjustment expenses	13,891,842	11,853,297
Unearned premiums	4,339,549	3,753,636
Reinsurance balances payable	667,072	393,107
Contractholder payables	2,119,460	2,079,111
Collateral held for insured obligations	206,698	236,630
Senior notes	1,871,626	1,733,528
Revolving credit agreement borrowings	484,287	455,682
Securities lending payable	388,366	274,125
Payable for securities purchased	87,579	90,034
Other liabilities	1,513,330	911,500
Total liabilities	25,569,809	21,780,650
Commitments and Contingencies
Redeemable noncontrolling interests	55,404	206,292
Shareholders’ Equity
Non-cumulative preferred shares	780,000	780,000
Common shares ($0.0011 par, shares issued: 574,617,195 and 570,737,283)	638	634
Additional paid-in capital	1,889,683	1,793,781
Retained earnings	11,021,006	9,426,299
Accumulated other comprehensive income (loss), net of deferred income tax	212,091	(178,720)
Common shares held in treasury, at cost (shares: 168,997,994 and 168,282,449)	(2,406,047)	(2,382,167)
Total shareholders' equity available to Arch	11,497,371	9,439,827
Non-redeemable noncontrolling interests	762,777	791,560
Total shareholders' equity	12,260,148	10,231,387
Total liabilities, noncontrolling interests and shareholders' equity	$ 37,885,361	$ 32,218,329