WRB Stock Balance Sheets

W. R. Berkley Quarterly Balance Sheets Chart

Quarterly

Annual

Goodwill

Cash and Cash Eq

W. R. Berkley Quarterly Balance Sheets Table

Quarterly

Annual

Unit: USD	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-09-30	2007-06-30	2007-03-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-09-30	2004-06-30	2004-03-31	2003-09-30	2002-12-31

assets
investments:
fixed maturity securities	24,093,156,000	23,620,804,000	22,397,865,000	22,663,878,000	21,082,676,000	20,964,854,000	20,178,308,000	19,035,305,000	18,055,623,000	18,091,113,000	17,587,349,000	17,230,936,000	16,851,514,000	16,426,196,000	16,602,673,000	16,073,135,000	15,653,508,000	15,400,118,000	14,159,369,000	13,893,046,000	13,281,085,000	13,666,067,000	14,180,961,000	14,086,075,000	13,732,800,000	13,640,669,000	13,606,812,000	13,572,402,000	13,218,729,000	13,343,132,000	13,551,250,000	13,873,690,000	13,514,085,000	13,422,979,000	13,190,668,000	13,616,671,000	12,954,922,000	12,745,436,000	12,444,394,000	12,368,319,000	12,395,810,000	12,652,269,000	12,705,160,000	12,397,756,000	12,088,055,000	11,986,477,000	11,616,844,000	11,612,047,000	11,635,178,000	11,665,117,000	11,943,956,000	11,892,412,000	11,826,928,000	11,554,209,000	11,312,037,000	11,230,770,000	11,251,618,000		11,386,757,000	11,147,752,000	11,296,965,000		11,189,826,000	10,390,857,000	10,107,220,000		9,414,529,000	9,814,839,000	9,945,396,000	10,024,635,000	9,735,152,000	9,808,131,000	9,188,110,000	8,495,284,000	8,443,413,000		8,012,855,000	7,550,002,000	6,972,667,000	5,774,451,000	5,015,607,000	4,988,947,000	4,092,337,000
investment funds	1,492,258,000	1,480,322,000	1,468,246,000	1,607,381,000	1,589,119,000	1,555,818,000	1,621,655,000	1,600,495,000	1,594,225,000	1,601,567,000	1,608,548,000	1,662,029,000	1,702,270,000	1,545,648,000	1,480,612,000	1,400,932,000	1,369,453,000	1,358,997,000	1,309,430,000	1,163,707,000	1,159,237,000	1,178,858,000	1,213,535,000	1,227,298,000	1,401,571,000	1,359,908,000	1,332,818,000	1,251,748,000	1,208,586,000	1,161,127,000	1,155,677,000	1,119,907,000	1,190,963,000	1,238,558,000	1,198,146,000	1,231,700,000	1,205,133,000	1,179,310,000	1,170,040,000	1,140,218,000	1,123,829,000	1,214,272,000	1,211,401,000	1,020,132,000	984,836,000	956,701,000	1,067,495,000	873,884,000	858,394,000	793,603,000	809,689,000	747,638,000	728,505,000	679,689,000	680,638,000	610,513,000	548,327,000		409,004,000	421,394,000	429,591,000		368,733,000	378,164,000	388,160,000
real estate	1,294,505,000	1,304,443,000	1,291,455,000	1,297,314,000	1,279,306,000	1,273,063,000	1,249,874,000	1,270,545,000	1,292,200,000	1,338,504,000	1,340,622,000	1,320,550,000	1,304,094,000	1,276,157,000	1,852,508,000	1,842,400,000	1,811,263,000	1,961,212,000	1,960,914,000	2,106,474,000	2,072,772,000	2,084,387,000	2,105,950,000	2,102,391,000	2,067,544,000	2,019,123,000	1,957,092,000	1,917,250,000	1,883,622,000	1,833,337,000	1,469,601,000	1,391,274,000	1,317,089,000	1,237,738,000	1,184,981,000	1,108,482,000	1,024,102,000	986,810,000	936,367,000	873,909,000	820,257,000	761,856,000	731,612,000	703,994,000	530,239,000	752,376,000	715,242,000	647,698,000	589,936,000	588,777,000	606,735,000	433,686,000	360,787,000	355,254,000	342,905,000	346,015,000	32,775,000
equity securities	1,262,192,000	1,145,040,000	1,203,788,000	1,048,126,000	1,078,092,000	1,178,048,000	1,090,347,000	1,182,061,000	1,239,712,000	1,279,955,000	1,185,894,000	1,173,589,000	1,155,326,000	1,126,491,000	941,243,000	818,738,000	642,993,000	621,629,000	625,667,000	435,303,000	362,265,000	356,102,000	480,620,000	443,654,000	416,588,000	341,981,000	279,006,000	325,254,000	472,389,000	496,034,000								141,699,000		177,877,000	153,513,000	174,709,000		222,024,000	257,059,000	322,773,000		338,907,000	434,841,000	399,386,000
arbitrage trading account	1,034,557,000	831,705,000	1,122,599,000	820,928,000	1,221,861,000	1,146,119,000	938,049,000	825,049,000	723,967,000	609,001,000	944,230,000	1,165,016,000	1,142,003,000	1,188,910,000	1,179,606,000	860,339,000	634,276,000	614,721,000	341,473,000	595,727,000	580,950,000	666,829,000	400,809,000	641,993,000	533,442,000	504,633,000	452,548,000	678,321,000	721,088,000	744,859,000	617,649,000	488,238,000	634,016,000	753,278,000	299,999,000	602,965,000	496,522,000	384,519,000	376,697,000	351,179,000	830,212,000	972,629,000	450,648,000	918,223,000	732,279,000	681,077,000	522,128,000	619,881,000	680,713,000	701,223,000	329,077,000	417,446,000	419,249,000	344,892,000	397,312,000	327,883,000	488,202,000		472,209,000	498,368,000	472,125,000		536,721,000	544,812,000	216,170,000		263,387,000	252,981,000	306,244,000		1,020,540,000
loans receivable	324,365,000	419,880,000	405,453,000	389,869,000	349,325,000	228,766,000	201,271,000	177,750,000	181,562,000	194,944,000	193,002,000	112,800,000	113,483,000	115,097,000	115,172,000	115,495,000	116,009,000	76,896,000	84,913,000	84,771,000	82,134,000	87,058,000	91,799,000	92,285,000	94,697,000	95,557,000	94,813,000	96,590,000	98,088,000	75,902,000	79,684,000	74,229,000	96,064,000	103,650,000	106,798,000	113,996,000	142,858,000	149,388,000	273,103,000	286,273,000	259,411,000	280,769,000	322,012,000	343,300,000	655,691,000	373,166,000	343,583,000	411,851,000	359,177,000	456,533,000	401,961,000	371,408,000	325,073,000	357,121,000	263,187,000	283,560,000	348,773,000		357,805,000	373,605,000	376,993,000		391,268,000	388,783,000	385,650,000		308,181,000	268,249,000	267,818,000
total investments	29,501,033,000	28,802,194,000	27,889,406,000	27,827,496,000	26,600,379,000	26,346,668,000	25,279,504,000	24,091,205,000	23,087,289,000	23,115,084,000	22,859,645,000	22,664,920,000	22,268,690,000	21,678,499,000	22,171,814,000	21,111,039,000	20,227,502,000	20,033,573,000	18,481,766,000	18,279,028,000	17,538,443,000	18,039,301,000	18,473,674,000	18,593,696,000	18,246,642,000	17,961,871,000	17,723,089,000	17,841,565,000	17,602,502,000	17,654,391,000	17,450,508,000	17,561,363,000	17,365,024,000	17,367,581,000	16,649,792,000	16,832,789,000	16,110,189,000	15,587,162,000	15,351,467,000	15,197,775,000	15,583,032,000	16,056,504,000	15,591,824,000	15,605,429,000	15,248,159,000	15,072,570,000	14,548,630,000	14,504,268,000	14,558,239,000	14,604,639,000	14,467,440,000	14,287,912,000	14,222,327,000	13,780,385,000	13,439,518,000	13,293,812,000	13,242,366,000		13,147,693,000	12,856,912,000	13,072,063,000		12,967,068,000	12,084,087,000	11,504,503,000		11,218,326,000	11,783,623,000	11,962,106,000	12,219,541,000	12,074,158,000	11,992,360,000	11,027,703,000	10,144,436,000	10,282,287,000		9,246,856,000	8,757,421,000	8,149,132,000	6,827,987,000	7,178,208,000	7,003,947,000
cash and cash equivalents	1,984,529,000	1,720,209,000	1,974,747,000	1,573,238,000	1,580,270,000	1,169,053,000	1,363,195,000	1,646,074,000	1,823,558,000	1,242,357,000	1,449,346,000	1,130,750,000	1,316,603,000	2,114,841,000	1,568,843,000	2,069,029,000	1,790,199,000	2,014,911,000	2,372,366,000	2,571,447,000	2,430,826,000	965,012,000	1,023,710,000	812,550,000	1,258,174,000	937,428,000	817,602,000	819,366,000	911,202,000	956,603,000	950,471,000	773,997,000	788,354,000	608,393,000	795,285,000	873,064,000	948,710,000	837,515,000	763,631,000	879,934,000	756,368,000	614,695,000	674,441,000	1,342,285,000	842,671,000	643,575,000	839,738,000	966,326,000	658,839,000	945,492,000	905,670,000	1,189,564,000	1,012,220,000	1,082,407,000	911,742,000	866,130,000	630,151,000	29,476,000	922,198,000	781,463,000	441,047,000	117,648,000	736,392,000	771,511,000	826,067,000		1,003,875,000	614,700,000	718,073,000	591,279,000	801,993,000	713,489,000	658,910,000	783,402,000	636,849,000		979,272,000	707,955,000	707,617,000	1,049,126,000	1,220,163,000	1,074,852,000	1,196,215,000	30,349,000
premiums and fees receivable	3,647,860,000	3,316,909,000	3,266,845,000	3,414,385,000	3,430,991,000	3,171,108,000	3,109,334,000	3,104,609,000	3,042,864,000	2,814,504,000	2,779,244,000	2,752,678,000	2,799,805,000	2,599,357,000	2,522,972,000	2,524,109,000	2,487,649,000	2,260,026,000	2,167,799,000	2,162,192,000	2,186,964,000	2,075,685,000	1,997,186,000	2,009,294,000	2,034,036,000	1,964,244,000	1,807,762,000	1,872,460,000	1,902,336,000	1,845,723,000	1,773,844,000	1,818,836,000	1,867,048,000	1,766,478,000	1,701,854,000	1,742,210,000	1,843,386,000	1,749,273,000	1,669,186,000	1,720,637,000	1,766,654,000	1,706,823,000	1,651,088,000	1,681,674,000	1,748,916,000	1,651,407,000	1,557,480,000	1,585,773,000	1,582,395,000	1,504,535,000	1,440,752,000	1,409,246,000	1,347,305,000	1,307,237,000	1,206,204,000	1,195,018,000	1,179,495,000		1,069,757,000	1,112,760,000	1,080,691,000		1,082,770,000	1,114,219,000	1,127,620,000		1,155,685,000	1,243,089,000	1,275,548,000	1,295,121,000	1,348,560,000	1,309,407,000	1,231,934,000	1,268,690,000	1,188,706,000		1,071,400,000	1,116,871,000	1,085,222,000	1,008,335,000	1,041,958,000	1,016,785,000	986,679,000
due from reinsurers	3,601,233,000	3,581,920,000	3,557,695,000	3,478,354,000	3,501,892,000	3,510,097,000	3,534,527,000	3,426,196,000	3,444,721,000	3,282,288,000	3,187,730,000	3,160,843,000	3,046,754,000	2,929,161,000	2,923,026,000	2,792,811,000	2,681,266,000	2,549,739,000	2,424,502,000	2,323,833,000	2,273,638,000	2,178,092,000	2,133,683,000	2,079,525,000	2,040,250,000	1,941,311,000	1,932,291,000	1,859,917,000	1,841,056,000	1,868,667,000	1,783,200,000	1,739,835,000	1,646,587,000	1,640,190,000	1,743,980,000	1,692,779,000	1,602,750,000	1,558,749,000	1,532,829,000	1,559,277,000	1,533,267,000	1,519,530,000	1,503,441,000	1,452,393,000	1,464,003,000	1,508,311,000	1,533,103,000	1,525,906,000	1,477,381,000	1,441,389,000	1,450,348,000	1,309,463,000	1,270,036,000	1,242,270,000	1,215,679,000	1,187,344,000	1,173,581,000		1,076,907,000	1,062,726,000	983,557,000		970,261,000	943,829,000	958,503,000		945,015,000	879,867,000	912,865,000	905,716,000	912,085,000	954,998,000	941,598,000	951,732,000	989,249,000		942,564,000	884,155,000	852,878,000	873,935,000	873,504,000	822,593,000	774,843,000
deferred policy acquisition costs	1,017,073,000	978,244,000	951,728,000	957,997,000	939,453,000	888,719,000	861,609,000	854,374,000	830,315,000	786,502,000	763,486,000	766,923,000	753,185,000	716,645,000	676,145,000	662,636,000	627,647,000	594,309,000	556,168,000	560,739,000	547,958,000	542,013,000	517,364,000	527,390,000	520,908,000	515,595,000	497,629,000	513,092,000	514,499,000	513,586,000	507,549,000	534,091,000	539,961,000	544,914,000	537,890,000	564,663,000	563,842,000	547,519,000	513,128,000	524,269,000	521,312,000	507,509,000	488,525,000	492,500,000	483,714,000	475,244,000	452,101,000	452,695,000	433,274,000	425,070,000	404,047,000	400,727,000	386,783,000	377,600,000	448,795,000	450,552,000	429,933,000		412,024,000	409,837,000	402,680,000		409,749,000	401,755,000	395,756,000		434,928,000	453,610,000	461,731,000	475,414,000	482,376,000	478,531,000	494,233,000	490,201,000	484,504,000		469,714,000	470,244,000	464,433,000	441,276,000	433,228,000	425,194,000	396,311,000
prepaid reinsurance premiums	872,539,000	815,703,000	823,207,000	830,797,000	814,858,000	757,659,000	758,927,000	756,236,000	753,094,000	701,295,000	696,468,000	701,044,000	694,888,000	680,703,000	676,915,000	670,913,000	680,773,000	668,111,000	648,376,000	626,229,000	608,913,000	576,646,000	567,595,000	547,352,000	538,358,000	516,691,000	498,880,000	497,285,000	503,292,000	490,582,000	472,009,000	473,766,000	482,258,000	451,886,000	413,140,000	429,850,000	450,199,000	429,058,000	394,387,000	400,392,000	415,672,000	410,359,000	395,748,000	418,081,000	431,933,000	404,275,000	367,803,000	381,005,000	382,570,000	345,329,000	316,309,000	311,355,000	305,689,000	274,706,000	258,271,000	275,479,000	265,683,000		226,050,000	235,736,000	219,476,000		218,584,000	222,367,000	191,228,000		188,061,000	192,681,000	199,954,000	186,323,000	197,218,000	180,487,000	180,215,000	197,792,000	194,946,000		194,645,000	210,636,000	220,831,000	203,008,000	203,355,000	209,567,000	257,127,000
trading account receivables from brokers and clearing organizations	138,891,000	343,796,000		410,756,000	40,705,000	141,277,000		401,982,000	484,457,000	583,970,000			9,937,000			221,165,000	361,586,000	257,756,000		252,223,000	254,230,000	132,928,000		209,061,000	402,361,000	322,925,000		191,394,000	119,628,000	26,667,000		297,208,000	164,696,000	29,131,000		185,548,000	349,223,000	373,833,000		401,941,000	41,576,000				57,454,000	74,786,000		123,320,000	144,150,000	28,720,000		387,352,000	275,844,000	382,479,000		380,887,000	286,735,000		239,006,000	183,175,000
property, furniture and equipment	490,121,000	481,737,000	478,511,000	478,361,000	477,034,000	466,855,000	426,803,000	423,279,000	421,049,000	421,102,000	423,232,000	414,228,000	415,446,000	417,888,000	419,883,000	419,941,000	428,723,000	404,281,000	405,930,000	410,228,000	414,335,000	422,012,000	422,091,000	416,966,000	398,885,000	406,841,000	416,372,000	424,754,000	427,619,000	424,751,000	422,960,000	399,924,000	424,984,000	356,908,000	349,432,000	348,169,000	346,024,000	346,471,000	348,224,000	336,825,000	332,015,000	327,231,000	332,098,000	333,938,000	335,741,000	337,982,000	339,448,000				267,227,000				262,275,000
goodwill	184,332,000	184,332,000	184,332,000	184,089,000	184,089,000	174,597,000	174,597,000	174,597,000	174,597,000	185,509,000	185,509,000	169,652,000	169,652,000	169,652,000	169,652,000	169,652,000	169,652,000	169,652,000	169,652,000	169,652,000	169,652,000	169,652,000	169,652,000	169,652,000	173,037,000	173,037,000	173,037,000	171,095,000	178,975,000	178,945,000	178,945,000	173,422,000	144,913,000	144,513,000	144,513,000	134,146,000	154,327,000	153,747,000	153,291,000	153,281,000	150,682,000	150,551,000	150,944,000	103,337,000	103,565,000	110,242,000	110,146,000	113,169,000	112,741,000	107,529,000	87,865,000	87,865,000	87,865,000	90,172,000	90,832,000	90,581,000	90,581,000		107,131,000	107,132,000	109,399,000		109,318,000	107,992,000	106,292,000		106,591,000	106,461,000	105,963,000	103,345,000	68,067,000	74,881,000	65,759,000	65,759,000	65,759,000		65,759,000	65,759,000	59,021,000	59,021,000	59,021,000	59,021,000	59,021,000
accrued investment income	259,308,000	236,478,000	243,772,000	234,084,000	225,214,000	217,801,000	213,408,000	201,206,000	184,729,000	181,342,000	166,784,000	150,801,000	133,014,000	129,194,000	122,938,000	126,245,000	122,524,000	123,755,000	120,464,000	128,370,000	128,616,000	140,843,000	138,789,000	144,488,000	140,864,000	150,294,000	144,481,000	148,646,000	141,902,000	143,974,000	136,597,000	139,864,000	136,663,000	135,439,000	127,047,000	133,720,000	127,027,000	130,380,000	123,164,000	128,140,000	129,364,000	139,689,000	120,367,000	138,904,000	123,168,000	130,510,000	118,329,000	128,094,000	126,122,000	126,577,000	127,230,000	131,790,000	135,702,000	132,745,000	133,776,000	133,940,000	135,832,000		142,944,000	134,745,000	131,313,000		125,678,000	124,602,000	114,413,000		114,296,000	137,293,000	127,262,000	128,756,000	127,274,000	118,927,000	115,302,000	105,037,000	102,717,000		86,347,000	83,336,000	70,655,000	64,153,000	59,411,000	58,725,000	48,958,000
current and deferred federal and foreign income taxes	36,255,000			131,209,000	220,080,000	120,754,000		291,363,000	313,837,000	205,291,000		407,595,000	296,943,000	43,527,000		63,654,000	44,659,000	76,667,000
other assets	924,883,000	884,270,000	877,099,000	838,532,000	894,954,000	886,484,000	865,556,000	740,227,000	748,184,000	776,820,000	736,022,000	757,385,000	787,530,000	771,487,000	753,231,000	713,094,000	675,737,000	715,161,000	700,215,000	698,360,000	769,717,000	764,068,000	762,743,000	708,537,000	734,388,000	695,023,000	501,413,000	478,879,000	477,557,000	483,943,000	434,554,000	423,770,000	433,003,000	501,981,000	402,550,000	408,718,000	530,186,000	517,227,000	442,782,000	434,074,000	430,732,000	414,161,000	369,558,000	529,056,000	327,870,000	295,365,000	335,225,000	343,018,000	376,334,000	320,342,000	242,135,000	154,148,000	153,922,000	195,402,000	192,729,000	190,526,000	216,014,000	7,969,000	171,283,000	164,141,000	161,510,000	2,769,000	149,001,000	156,036,000	117,418,000		299,572,000	252,966,000	256,957,000	172,645,000	188,119,000	145,503,000	196,108,000	149,820,000	146,860,000		131,837,000	146,267,000	122,887,000	128,916,000	103,297,000	93,125,000	65,247,000	2,080,000
total assets	42,658,057,000	41,345,792,000	40,567,268,000	40,359,298,000	38,909,919,000	37,851,072,000	37,202,015,000	36,111,348,000	35,308,694,000	34,296,064,000	33,861,099,000	33,076,819,000	32,692,447,000	32,250,954,000	32,086,414,000	31,544,288,000	30,297,917,000	29,791,274,000	28,606,913,000	28,212,370,000	27,323,292,000	26,089,929,000	26,643,428,000	26,218,511,000	26,487,903,000	25,585,260,000	24,895,977,000	24,855,649,000	24,621,144,000	24,587,832,000	24,299,917,000	24,336,076,000	23,993,491,000	23,547,414,000	23,364,844,000	23,345,656,000	23,025,863,000	22,230,934,000	21,730,967,000	21,738,566,000	21,689,809,000	21,847,052,000	21,716,691,000	22,097,597,000	21,167,194,000	20,704,267,000	20,551,796,000	20,523,719,000	20,211,542,000	20,120,634,000	20,155,896,000	19,932,912,000	19,462,106,000	19,133,632,000	18,487,731,000	18,330,821,000	17,983,511,000	5,761,609,000	17,812,851,000	17,416,926,000	17,231,923,000	5,477,318,000	17,392,514,000	16,656,495,000	16,193,308,000	16,121,158,000	16,417,710,000	16,547,507,000	16,834,811,000	16,695,839,000	16,626,837,000	16,538,194,000	15,444,238,000	14,691,916,000	14,524,134,000	13,896,287,000	13,671,523,000	12,841,736,000	12,159,460,000	11,059,645,000	10,321,445,000	10,072,309,000
liabilities and equity
liabilities:
reserves for losses and loss expenses	21,496,123,000	20,921,987,000	20,368,030,000	20,155,310,000	19,567,190,000	19,099,628,000	18,739,652,000	18,273,310,000	17,919,996,000	17,431,635,000	17,011,223,000	16,540,123,000	16,145,821,000	15,722,889,000	15,390,888,000	14,919,576,000	14,480,947,000	14,080,528,000	13,784,430,000	13,459,359,000	13,088,904,000	12,732,515,000	12,583,249,000	12,396,955,000	12,320,278,000	12,093,110,000	11,966,448,000	11,872,162,000	11,736,575,000	11,784,895,000	11,670,408,000	11,654,346,000	11,324,267,000	11,224,324,000	11,197,195,000	11,097,830,000	10,897,876,000	10,788,342,000	10,669,150,000	10,661,054,000	10,622,374,000	10,474,954,000	10,369,701,000	10,314,265,000	10,256,219,000	10,214,994,000	10,080,941,000	10,061,054,000	9,921,072,000	9,809,843,000	9,751,086,000	9,562,877,000	9,488,668,000	9,394,152,000	9,337,134,000	9,261,584,000	9,172,680,000		9,135,156,000	9,109,638,000	9,072,061,000		9,115,137,000	9,084,003,000	9,041,703,000	8,999,596,000	9,076,876,000	8,910,469,000	8,835,741,000	8,442,126,000	8,207,877,000	8,002,547,000	7,574,891,000	7,276,382,000	7,003,243,000	6,711,760,000	6,473,830,000	6,045,690,000	5,735,423,000	5,163,129,000	4,822,575,000	4,466,113,000	3,863,152,000
unearned premiums	6,818,407,000	6,494,206,000	6,375,112,000	6,489,597,000	6,332,699,000	5,996,812,000	5,922,326,000	5,899,738,000	5,698,478,000	5,385,886,000	5,297,654,000	5,374,985,000	5,249,543,000	5,026,905,000	4,847,160,000	4,769,313,000	4,544,524,000	4,288,252,000	4,073,191,000	4,054,471,000	3,902,913,000	3,800,642,000	3,656,507,000	3,691,312,000	3,614,152,000	3,496,199,000	3,359,991,000	3,454,955,000	3,441,774,000	3,404,003,000	3,290,180,000	3,409,628,000	3,425,534,000	3,402,892,000	3,283,300,000	3,408,640,000	3,417,068,000	3,314,676,000	3,137,133,000	3,198,009,000	3,190,144,000	3,128,637,000	3,026,732,000	3,111,013,000	3,081,888,000	2,979,086,000	2,781,437,000	2,825,105,000	2,721,228,000	2,635,995,000	2,474,847,000	2,480,449,000	2,380,002,000	2,311,187,000	2,189,575,000	2,214,954,000	2,112,709,000		2,033,921,000	2,009,298,000	1,989,553,000		2,040,239,000	2,015,712,000	2,015,057,000		2,132,638,000	2,205,410,000	2,294,415,000	2,355,935,000	2,408,198,000	2,424,720,000	2,373,103,000	2,374,069,000	2,337,619,000		2,255,317,000	2,272,354,000	2,240,998,000	2,038,886,000	2,014,969,000	2,010,024,000	1,848,818,000
due to reinsurers	644,608,000	647,378,000	668,652,000	727,074,000	730,407,000	683,508,000	631,164,000	626,448,000	598,162,000	539,333,000	523,131,000	579,262,000	541,689,000	524,562,000	514,980,000	557,478,000	535,286,000	463,467,000	426,124,000	406,844,000	424,806,000	368,724,000	360,314,000	336,547,000	294,949,000	262,781,000	256,917,000	231,197,000	252,358,000	248,746,000	246,460,000	228,539,000	221,633,000	218,040,000	213,128,000	261,622,000	246,490,000	256,838,000	224,752,000	230,008,000	225,213,000	218,443,000	237,270,000	255,430,000	272,455,000	236,688,000	276,755,000	285,152,000	337,370,000	298,557,000	316,388,000	303,424,000	299,220,000	268,288,000	241,204,000	254,117,000	227,017,000		211,743,000	220,086,000	204,576,000		163,531,000	158,159,000	115,477,000		108,767,000	112,918,000	107,236,000	126,187,000	119,018,000	159,310,000	92,766,000	96,686,000	118,386,000		118,384,000	105,826,000	113,566,000	122,667,000	130,624,000	129,052,000	178,559,000
trading account securities sold but not yet purchased	30,909,000	52,407,000	73,358,000	36,093,000	81,273,000	40,298,000	9,357,000	7,538,000				6,000	68,000	241,000	1,169,000	739,000	190,000	218,000	10,048,000	19,254,000	20,814,000	14,003,000	36,143,000	68,976,000	159,349,000	58,148,000	38,120,000	112,355,000	90,281,000	29,453,000	64,358,000	44,937,000	62,860,000	51,348,000	51,179,000	60,959,000	120,663,000	35,956,000	37,035,000	33,360,000	155,484,000	99,299,000	106,079,000	159,537,000	111,991,000	91,118,000	162,278,000	88,489,000	171,990,000	79,965,000	121,487,000	149,405,000	40,520,000	71,386,000	62,514,000	60,973,000	123,474,000		65,876,000	48,836,000	82,826,000		115,389,000	156,500,000	44,078,000		57,020,000	56,445,000	88,231,000	146,151,000	256,841,000	220,308,000	236,891,000	123,737,000	309,060,000		188,089,000	200,099,000	156,783,000
other liabilities	1,521,396,000	1,428,680,000	1,715,078,000	1,674,405,000	1,573,428,000	1,395,048,000	1,503,053,000	1,537,449,000	1,347,896,000	1,137,055,000	1,377,740,000	1,369,169,000	1,378,169,000	1,189,919,000	1,305,245,000	1,367,353,000	1,229,970,000	1,141,444,000	1,178,546,000	1,159,957,000	1,104,896,000	1,005,433,000	1,244,888,000	1,267,221,000	1,258,995,000	1,046,286,000	1,005,184,000	1,008,145,000	935,356,000	852,255,000	981,987,000	923,369,000	1,051,322,000	775,039,000	916,318,000	968,019,000	828,787,000	754,292,000	837,937,000	820,278,000	776,207,000	673,724,000	859,736,000	938,554,000	728,337,000	679,784,000	848,749,000	832,388,000	758,627,000	844,297,000	981,626,000	912,357,000	881,170,000	801,855,000	866,229,000	924,667,000	808,718,000	161,666,000	795,114,000	754,975,000	642,997,000	149,275,000	759,636,000	673,999,000	625,418,000		713,429,000	709,199,000	695,529,000	710,541,000	668,093,000	799,710,000	621,083,000	584,966,000	615,770,000		545,978,000	464,723,000	478,251,000	469,418,000	417,676,000	451,036,000	386,083,000	47,273,000
subordinated debentures	1,010,168,000	1,009,988,000	1,009,808,000	1,009,629,000	1,009,449,000	1,009,269,000	1,009,090,000	1,008,910,000	1,008,730,000	1,008,551,000	1,008,371,000	1,008,191,000	1,008,011,000	1,007,832,000	1,007,652,000	1,007,472,000	1,007,293,000	1,289,272,000	1,102,309,000	1,443,736,000	1,199,198,000	1,198,951,000	1,198,704,000	908,053,000	907,866,000	907,679,000	907,491,000	907,304,000	907,117,000	897,426,000	728,218,000	728,071,000	727,924,000	727,777,000	727,630,000	727,390,000	727,242,000	446,485,000	340,320,000	340,255,000	340,190,000	340,125,000	340,060,000
senior notes and other debt	1,831,638,000	1,832,822,000	1,831,158,000	1,827,788,000	1,828,422,000	1,827,997,000	1,827,951,000	1,828,046,000	1,827,080,000	1,827,981,000	1,828,823,000	1,834,287,000	1,832,273,000	1,834,155,000	2,259,416,000	2,258,646,000	1,911,753,000	2,021,142,000	1,623,025,000	1,629,077,000	1,725,449,000	1,432,117,000	1,427,575,000	1,434,725,000	1,873,799,000	1,875,018,000	1,882,028,000	1,790,498,000	1,792,055,000	1,782,139,000	1,769,052,000	1,759,929,000	1,759,115,000	1,759,494,000	1,760,595,000	1,762,487,000	1,808,522,000	1,814,998,000	1,844,621,000	1,838,965,000	1,843,865,000	2,112,456,000	2,115,527,000	2,122,030,000	1,697,037,000	1,692,690,000	1,692,442,000	1,696,461,000	1,695,986,000	1,693,279,000	1,871,535,000	1,877,431,000	1,865,380,000	1,853,512,000	1,500,503,000	1,501,773,000	1,497,095,000		1,494,207,000	1,342,601,000	1,345,463,000		1,340,295,000	1,022,732,000	1,021,978,000	1,021,869,000	1,024,758,000	1,021,668,000	1,110,318,000	1,121,678,000	1,121,653,000	1,121,523,000	868,848,000	868,509,000	868,170,000	967,818,000	967,449,000	967,090,000	808,594,000	807,896,000	659,776,000	659,492,000
total liabilities	33,353,249,000	32,419,420,000	32,159,829,000	31,919,896,000	31,122,868,000	30,052,560,000	29,732,778,000	29,181,439,000	28,400,342,000	27,330,441,000	27,092,938,000	26,706,843,000	26,155,574,000	25,363,155,000	25,418,684,000	24,880,577,000	23,709,963,000	23,360,990,000	22,281,116,000	22,172,698,000	21,477,901,000	20,552,385,000	20,525,086,000	20,119,068,000	20,467,825,000	19,782,464,000	19,416,179,000	19,376,616,000	19,155,516,000	19,095,652,000	18,848,754,000	18,865,427,000	18,667,542,000	18,328,873,000	18,283,710,000	18,383,832,000	18,086,810,000	17,442,878,000	17,097,759,000	17,121,929,000	17,153,477,000	17,234,015,000	17,092,557,000	17,354,123,000	16,512,636,000	16,293,409,000	16,182,402,000	16,128,421,000	15,945,887,000	15,710,004,000	15,820,430,000	15,599,065,000	15,245,264,000	14,998,177,000	14,471,779,000	14,461,013,000	14,184,534,000	2,058,733,000	13,978,750,000	13,728,116,000	13,580,107,000	1,881,251,000	13,783,969,000	13,360,796,000	13,113,351,000		13,363,021,000	13,265,591,000	13,380,901,000	13,144,725,000	13,023,736,000	12,970,123,000	12,319,269,000	11,865,905,000	11,793,756,000		11,225,682,000	10,453,869,000	9,945,203,000	9,043,991,000	8,470,936,000	8,223,321,000
equity:
preferred stock, par value .10 per share:
authorized 5,000,000 shares; issued and outstanding - none
common stock																																																										47,024,000				47,024,000																						13,934,000
authorized 1,875,000,000 shares; issued and outstanding, net of treasury shares, 379,385,332 and 380,066,070 shares, respectively	158,705,000
additional paid-in capital	1,005,428,000	992,901,000	984,825,000	973,032,000	986,892,000	1,030,475,000	1,017,691,000	1,008,301,000	1,020,818,000	1,008,128,000	997,534,000	984,803,000	1,001,093,000	992,012,000	1,016,372,000	1,018,300,000	1,035,166,000	1,023,556,000	1,012,483,000	1,064,719,000	1,076,043,000	1,063,084,000	1,056,042,000	1,045,448,000	1,058,416,000	1,053,372,000	1,063,144,000	1,058,074,000	1,060,308,000	1,057,230,000	1,048,283,000	1,040,575,000	1,057,939,000	1,047,589,000	1,037,446,000	1,027,465,000	1,021,614,000	1,013,572,000	1,005,455,000	989,547,000	1,003,567,000	998,005,000	991,512,000	982,104,000	974,794,000	970,305,000	967,440,000	961,304,000	956,084,000	949,926,000	945,166,000	936,915,000	944,263,000	938,417,000	941,109,000	927,348,000	925,590,000	935,099,000	933,090,000	926,406,000	924,445,000	926,359,000	925,746,000	930,668,000	924,915,000		915,756,000	912,924,000	909,393,000	901,788,000	896,580,000	873,342,000	843,588,000	837,535,000	830,041,000		833,126,000	827,768,000	823,211,000	824,670,000	822,708,000	821,406,000	817,964,000	823,190,000
retained earnings	12,829,755,000	12,652,303,000	12,265,070,000	11,909,408,000	11,669,567,000	11,455,158,000	11,040,908,000	10,800,697,000	10,624,518,000	10,296,539,000	10,161,005,000	9,805,237,000	9,602,948,000	9,582,790,000	9,015,135,000	8,920,334,000	8,682,088,000	8,556,621,000	8,348,381,000	8,057,556,000	7,927,280,000	7,877,371,000	7,932,372,000	7,971,019,000	7,826,015,000	7,721,039,000	7,558,619,000	7,505,706,000	7,423,162,000	7,322,201,000	6,956,882,000	6,880,062,000	6,735,066,000	6,703,675,000	6,595,987,000	6,519,536,000	6,375,893,000	6,282,870,000	6,178,070,000	6,083,120,000	5,945,305,000	5,836,968,000	5,732,410,000	5,762,406,000	5,587,824,000	5,421,913,000	5,265,015,000	5,148,017,000	5,024,565,000	4,922,178,000	4,817,807,000	4,800,537,000	4,711,836,000	4,615,439,000	4,546,232,000	4,439,287,000	4,301,258,000	4,194,684,000	4,077,797,000	3,994,366,000	3,894,608,000	3,785,187,000	3,660,451,000	3,572,372,000	3,484,587,000		3,461,294,000	3,498,901,000	3,428,602,000	3,073,652,000	2,902,367,000	2,721,474,000	2,352,358,000	2,185,711,000	2,027,966,000		1,712,903,000	1,596,753,000	1,469,023,000	1,244,265,000	1,153,082,000	1,049,473,000	852,548,000	623,651,000
accumulated other comprehensive loss	-572,384,000	-762,067,000	-934,269,000	-603,144,000	-1,033,640,000	-1,023,530,000	-925,838,000	-1,322,819,000	-1,181,673,000	-1,078,917,000	-1,264,581,000	-1,385,810,000	-1,029,630,000	-649,229,000	-281,955,000	-190,862,000	-122,444,000	-148,252,000	-62,172,000	-170,886,000	-249,350,000	-589,521,000	-257,299,000	-322,100,000	-260,796,000	-364,983,000										-9,808,000																												-25,325,000	-146,148,000
treasury stock	-4,126,967,000	-4,127,803,000	-4,079,220,000	-4,011,737,000	-4,007,742,000	-3,783,074,000	-3,783,133,000	-3,676,403,000	-3,682,281,000	-3,387,538,000	-3,251,429,000	-3,163,967,000	-3,165,729,000	-3,166,873,000	-3,167,076,000	-3,169,866,000	-3,087,069,000	-3,087,860,000	-3,058,425,000	-3,026,812,000	-3,023,392,000	-2,927,994,000	-2,726,711,000	-2,708,606,000	-2,717,410,000	-2,720,011,000	-2,720,466,000	-2,698,018,000	-2,708,534,000	-2,715,697,000	-2,709,386,000	-2,690,884,000	-2,686,813,000	-2,688,173,000	-2,688,817,000	-2,658,452,000	-2,599,312,000	-2,600,377,000	-2,563,605,000	-2,564,536,000	-2,579,764,000	-2,455,433,000	-2,364,551,000	-2,356,176,000	-2,323,828,000	-2,322,181,000	-2,132,835,000	-2,006,750,000	-1,999,294,000	-1,969,179,000	-1,969,411,000	-1,968,227,000	-1,911,694,000	-1,867,223,000	-1,880,790,000	-1,887,007,000	-1,745,264,000	-1,750,494,000	-1,627,413,000	-1,541,820,000	-1,411,643,000	-1,325,710,000	-1,221,236,000	-1,234,467,000	-1,235,773,000		-1,193,867,000	-1,152,891,000	-971,600,000	-597,215,000	-307,738,000	-217,340,000	-234,401,000	-236,420,000	-193,747,000		-200,613,000	-204,108,000	-205,922,000	-211,017,000	-212,139,000	-215,269,000	-224,283,000	-230,179,000
total stockholders’ equity	9,294,537,000	8,914,039,000		8,426,264,000	7,773,782,000	7,784,832,000		6,915,579,000	6,887,185,000	6,944,015,000		6,346,066,000	6,514,485,000	6,864,503,000		6,648,441,000	6,578,276,000	6,414,600,000		5,995,112,000	5,801,116,000	5,493,475,000		6,056,296,000	5,976,760,000	5,759,952,000		5,437,848,000	5,426,118,000	5,451,776,000		5,430,536,000	5,286,518,000	5,179,606,000		4,925,765,000	4,902,501,000	4,751,213,000		4,583,266,000	4,502,187,000	4,578,622,000		4,708,903,000	4,619,713,000	4,375,944,000		4,367,074,000	4,238,604,000	4,378,541,000		4,324,401,000	4,207,784,000	4,126,916,000		3,862,393,000	3,791,784,000	3,702,876,000	3,827,392,000	3,682,362,000		3,596,067,000					3,049,441,000	3,276,738,000	3,488,740,000	3,516,730,000	3,571,177,000	3,537,028,000	3,097,587,000	2,800,823,000	2,708,363,000		2,424,818,000	2,361,266,000	2,167,387,000	1,976,070,000	1,813,741,000	1,811,494,000
noncontrolling interests	10,271,000	12,333,000	12,328,000	13,138,000	13,269,000	13,680,000	13,806,000	14,330,000	21,167,000	21,608,000	19,829,000	23,910,000	22,388,000	23,296,000	14,719,000	15,270,000	9,678,000	15,684,000	14,995,000	44,560,000	44,275,000	44,069,000	43,403,000	43,147,000	43,318,000	42,844,000	41,947,000	41,185,000	39,510,000	40,404,000	39,819,000	40,113,000	39,431,000	38,935,000	33,926,000	36,059,000	36,552,000	36,843,000	32,962,000	33,371,000	34,145,000	34,415,000	34,189,000	34,571,000	34,845,000	34,914,000	33,359,000	28,224,000	27,051,000	32,089,000	29,249,000	9,446,000	9,058,000	8,539,000	7,526,000	7,415,000	7,193,000		6,709,000	6,448,000	5,832,000		5,500,000
total equity	9,304,808,000	8,926,372,000	8,407,439,000	8,439,402,000	7,787,051,000	7,798,512,000	7,469,237,000	6,929,909,000	6,908,352,000	6,965,623,000	6,768,161,000	6,369,976,000	6,536,873,000	6,887,799,000	6,667,730,000	6,663,711,000	6,587,954,000	6,430,284,000	6,325,797,000	6,039,672,000	5,845,391,000	5,537,544,000	6,118,342,000	6,099,443,000	6,020,078,000	5,802,796,000	5,479,798,000	5,479,033,000	5,465,628,000	5,492,180,000	5,451,163,000	5,470,649,000	5,325,949,000	5,218,541,000	5,081,134,000	4,961,824,000	4,939,053,000	4,788,056,000	4,633,208,000	4,616,637,000	4,536,332,000	4,613,037,000	4,624,134,000	4,743,474,000	4,654,558,000	4,410,858,000	4,369,394,000	4,395,298,000	4,265,655,000	4,410,630,000	4,335,466,000	4,333,847,000	4,216,842,000	4,135,455,000	4,015,952,000	3,869,808,000	3,798,977,000		3,834,101,000	3,688,810,000	3,651,816,000		3,608,545,000	3,295,699,000	3,079,957,000
total liabilities and equity	42,658,057,000	41,345,792,000	40,567,268,000	40,359,298,000	38,909,919,000	37,851,072,000	37,202,015,000	36,111,348,000	35,308,694,000	34,296,064,000	33,861,099,000	33,076,819,000	32,692,447,000	32,250,954,000	32,086,414,000	31,544,288,000	30,297,917,000	29,791,274,000	28,606,913,000	28,212,370,000	27,323,292,000	26,089,929,000	26,643,428,000	26,218,511,000	26,487,903,000	25,585,260,000	24,895,977,000	24,855,649,000	24,621,144,000	24,587,832,000	24,299,917,000	24,336,076,000	23,993,491,000	23,547,414,000	23,364,844,000	23,345,656,000	23,025,863,000	22,230,934,000	21,730,967,000	21,738,566,000	21,689,809,000	21,847,052,000	21,716,691,000	22,097,597,000	21,167,194,000	20,704,267,000	20,551,796,000	20,523,719,000	20,211,542,000	20,120,634,000	20,155,896,000	19,932,912,000	19,462,106,000	19,133,632,000	18,487,731,000	18,330,821,000	17,983,511,000		17,812,851,000	17,416,926,000	17,231,923,000		17,392,514,000	16,656,495,000	16,193,308,000
authorized 1,250,000,000 shares; issued and outstanding, net of treasury shares, 379,312,871 and 380,066,070 shares, respectively		158,705,000
trading account receivable from brokers and clearing organizations			60,327,000				303,614,000				233,863,000								524,727,000				423,543,000				347,228,000				189,280,000				484,593,000				383,115,000				371,034,000				304,936,000				446,873,000				318,240,000						244,905,000		201,639,000	131,977,000	124,977,000		395,391,000	402,399,000	427,705,000	275,914,000	62,797,000	253,683,000	206,505,000	158,275,000	78,736,000		170,670,000	135,313,000	135,540,000	162,936,000	108,529,000	195,152,000
current federal and foreign income taxes			39,382,000				1,318,000				39,123,000				23,570,000				5,893,000				13,398,000				703,000								14,768,000				55,763,000				67,623,000				24,737,000					5,122,000			9,670,000	2,863,000				6,068,000	4,799,000		21,302,000	84,879,000	53,059,000
deferred federal and foreign income taxes			220,217,000				309,623,000				340,647,000				57,425,000				29,055,000								35,490,000				86,764,000				134,365,000				6,811,000								20,120,000				60,255,000	69,968,000	31,665,000	1,701,000			76,167,000		46,246,000	117,228,000	128,659,000		156,249,000	263,178,000	348,342,000		337,362,000	261,442,000	184,872,000	141,353,000	171,390,000	124,252,000	145,357,000	193,309,000	167,224,000		140,436,000	97,977,000	127,255,000				34,933,000
authorized 5,000,000 shares; issued and outstanding — none
authorized 1,250,000,000 shares; issued and outstanding, net of treasury shares, 380,066,070 and 384,817,136 shares, respectively			158,705,000
total common stockholders’ equity			8,395,111,000				7,455,431,000				6,748,332,000				6,653,011,000				6,310,802,000				6,074,939,000				5,437,851,000				5,411,344,000				5,047,208,000				4,600,246,000				4,589,945,000				4,336,035,000				4,306,217,000				4,008,426,000						3,645,984,000		3,603,045,000	3,290,272,000	3,074,605,000
see accompanying notes to consolidated financial statements.
authorized 1,250,000,000 shares; issued and outstanding, net of treasury shares, 381,189,906 and 384,817,136 shares, respectively				158,705,000
authorized 1,250,000,000 shares; issued and outstanding, net of treasury shares, 380,646,644 and 384,817,136 shares, respectively					158,705,000
authorized 1,250,000,000 shares; issued and outstanding, net of treasury shares, 256,548,669 and 256,544,757 shares, respectively						105,803,000
authorized 1,250,000,000 shares; issued and outstanding, net of treasury shares, 256,544,757 and 264,546,100 shares, respectively							105,803,000
preferred stock, par value 0.10 per share:
authorized 1,250,000,000 shares; issued and outstanding, net of treasury shares, 258,043,531 and 264,546,100 shares, respectively								105,803,000
authorized 1,250,000,000 shares; issued and outstanding, net of treasury shares, 257,516,572 and 264,546,100 shares, respectively									105,803,000
authorized 1,250,000,000 shares; issued and outstanding, net of treasury shares, 262,536,530 and 264,546,100 shares, respectively										105,803,000
trading account payable to brokers and clearing organizations												820,000		56,652,000	53,636,000																											165,420,000		95,681,000
authorized 1,250,000,000 shares and 750,000,000 shares, respectively, issued and outstanding, net of treasury shares, 264,546,100 and 265,170,882 shares, respectively											105,803,000
authorized 1,250,000,000 shares and 750,000,000 shares, respectively; issued and outstanding, net of treasury shares, 265,801,717 and 265,170,882 shares, respectively												105,803,000
authorized 1,250,000,000 shares and 750,000,000 shares, respectively; issued and outstanding, net of treasury shares, 265,272,980 and 265,170,882 shares, respectively													105,803,000
authorized 750,000,000 shares, issued and outstanding, net of treasury shares, 265,186,251 and 265,170,882 shares, respectively														105,803,000
authorized 750,000,000 shares, issued and outstanding, net of treasury shares, 176,780,588 and 177,825,150 shares, respectively															70,535,000
authorized 750,000,000 shares, issued and outstanding, net of treasury shares, 176,638,884 and 177,825,150 shares, respectively																70,535,000
authorized 750,000,000 shares, issued and outstanding, net of treasury shares, 177,413,970 and 177,825,150 shares, respectively																	70,535,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 177,372,943 and 177,825,150 shares, respectively																		70,535,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 177,825,150 and 183,411,907 shares, respectively																			70,535,000
federal and foreign income taxes																				30,069,000	10,921,000	83,677,000						37,196,000	576,000	96,735,000		116,608,000	94,887,000	169,959,000						2,021,000	29,135,000
authorized 750,000,000 shares, issued and outstanding, net of treasury shares, 178,217,537 and 183,411,907 shares, respectively																				70,535,000
authorized 750,000,000 shares, issued and outstanding, net of treasury shares, 177,930,502 and 183,411,907 shares, respectively																					70,535,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 179,836,714 and 183,411,907 shares, respectively																						70,535,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 183,411,907 and 182,993,640 shares, respectively																							70,535,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 183,674,147 and 182,993,640 shares, respectively																								70,535,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 183,168,398 and 182,993,640 shares, respectively																									70,535,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 183,024,006 and 182,993,640 shares, respectively																										70,535,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 121,995,760 and 121,514,852 shares, respectively																											47,024,000
accumulated other comprehensive income																											-510,470,000	-474,938,000	-395,842,000	-258,982,000	68,541,000	153,759,000	133,302,000	69,491,000	55,568,000		57,282,000	8,124,000	-66,698,000	28,111,000	86,055,000	152,058,000	183,550,000	273,545,000	333,899,000	258,883,000	189,391,000	217,479,000	210,225,000	428,592,000	465,631,000	508,152,000	416,355,000	393,259,000	354,851,000	335,741,000	263,176,000	276,563,000	396,894,000	256,386,000	191,550,000	163,207,000	191,060,000				-180,766,000	-29,220,000	35,321,000	91,481,000	32,944,000	112,528,000	89,018,000	-33,027,000	-2,921,000		48,051,000	109,502,000	49,724,000	97,251,000	29,189,000	134,983,000	111,316,000	104,603,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 122,117,763 and 121,514,852 shares, respectively																												47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 121,716,402 and 121,514,852 shares, respectively																													47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 121,543,951 and 121,514,852 shares, respectively																														47,024,000
equity securities available for sale																															576,647,000	614,025,000	612,807,000	611,378,000	669,200,000	158,975,000	286,652,000		150,866,000				170,991,000				283,338,000				376,022,000	425,322,000	561,785,000	489,220,000	443,439,000	438,465,000	510,130,000		461,791,000	357,229,000	412,305,000		398,295,000	299,460,000	327,263,000		469,719,000	728,526,000	749,441,000	955,340,000	852,794,000	951,230,000	650,349,000	552,260,000	499,474,000		440,436,000	414,889,000	485,977,000	429,749,000	354,231,000	316,640,000	323,988,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 121,514,852 and 121,193,599 shares, respectively																															47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 121,769,109 and 121,193,599 shares, respectively																																47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 121,271,028 and 121,193,599 shares, respectively																																	47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 121,218,479 and 121,193,599 shares, respectively																																		47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 121,193,599 and 123,307,837 shares, respectively																																			47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 121,684,506 and 123,307,837 shares, respectively																																				47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 122,641,527 and 123,307,837 shares, respectively																																					47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 122,599,552 and 123,307,837 shares, respectively																																						47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 123,307,837 and 126,748,836 shares, respectively																																							47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 123,267,846 and 126,748,836 shares, respectively																																								47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 122,481,580 and 126,748,836 shares, respectively																																									47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 124,933,275 and 126,748,836 shares, respectively																																										47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 126,748,836 and 132,233,167 shares, respectively																																											47,024,000
junior subordinated debentures																																												339,995,000	339,930,000	339,865,000	339,800,000	339,772,000	339,614,000	243,258,000	243,206,000	243,154,000	243,102,000	243,050,000	242,997,000	242,945,000	242,841,000	242,784,000	242,733,000	242,682,000	242,631,000	242,580,000	249,742,000	249,691,000	249,640,000	249,584,000	249,533,000	249,482,000	249,431,000	242,107,000	242,056,000	242,005,000	451,659,000	451,317,000	450,975,000	450,634,000	450,301,000	208,308,000	208,296,000	208,274,000	208,263,000	208,252,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 126,907,538 and 132,233,167 shares, respectively																																												47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 127,613,325 and 132,233,167 shares, respectively																																													47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 127,580,268 and 132,233,167 shares, respectively																																														47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 132,233,167 and 136,017,732 shares, respectively																																															47,024,000
real estate, furniture and equipment																																																336,515,000	291,831,000	271,012,000		258,368,000	264,413,000	268,229,000		263,689,000	256,973,000		251,612,000	245,003,000	245,282,000		244,503,000	250,063,000	253,366,000		218,608,000	219,376,000	201,775,000	200,432,000	192,800,000	191,676,000	180,614,000	183,463,000	186,297,000		172,023,000	165,802,000	163,989,000
federal and foreign income taxes - current and deferred																																																63,630,000	67,666,000	104,810,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 135,138,372 and 136,017,732 shares, respectively																																																47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 135,308,430 and 136,017,732 shares, respectively																																																	47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 136,028,287 and 136,017,732 shares, respectively																																																		47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 136,017,732 and 137,520,019 shares, respectively																																																			47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 135,956,622 and 137,520,019 shares, respectively																																																				47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 137,167,115 and 137,520,019 shares, respectively																																																					47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 138,274,272 and 137,520,019 shares, respectively																																																						47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 137,520,019 and 141,009,834 shares, respectively																																																							47,024,000
investment in arbitrage funds																																																								56,606,000	62,541,000		60,127,000	58,564,000	84,084,000		82,225,000	82,011,000	80,040,000		212,218,000	218,677,000	212,435,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 137,082,096 and 141,009,834 shares																																																								47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 141,599,454 and 141,009,834 shares																																																									47,024,000
assets:
fixed maturity securities available for sale at fair value																																																										246,275,000				302,898,000
equity securities available for sale, at fair value																																																										109,748,000				97,525,000
investment in subsidiaries																																																										5,261,686,000
deferred federal income taxes																																																										80,861,000				202,159,000																						28,557,000
current federal income taxes																																																										19,163,000
real estate, furniture and equipment at cost, less accumulated depreciation																																																										6,431,000				6,063,000
liabilities and stockholders’ equity
due to subsidiaries																																																										189,499,000				143,917,000																						84,586,000
senior notes																																																										1,464,784,000				1,316,772,000
stockholders’ equity:
preferred stock
total liabilities and stockholders’ equity																																																										5,761,609,000				5,477,318,000					16,417,710,000	16,547,507,000	16,834,811,000	16,695,839,000	16,626,837,000	16,538,194,000	15,444,238,000	14,691,916,000	14,524,134,000		13,671,523,000	12,841,736,000	12,159,460,000	11,059,645,000	10,321,445,000	10,072,309,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 145,203,276 and 156,552,355 shares																																																											47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 148,421,425 and 156,552,355 shares																																																												47,024,000
due from broker																																																													6,542,000				71,764,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 153,188,227 and 156,552,355 shares																																																													47,024,000
investment in affiliate
investments in subsidiaries																																																														4,748,256,000																						1,810,572,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 160,734,463 and 161,467,131 shares																																																															47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 160,036,950 and 161,467,131 shares																																																																47,024,000
noncontrolling interest																																																																5,427,000	5,352,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 159,968,092 and 161,467,131 shares																																																																	47,024,000
premiums written																																																																		4,033,899,000										4,604,574,000
net premiums earned																																																																		4,289,580,000										4,460,935,000
net investment income																																																																		537,033,000										403,962,000
income from investment funds																																																																		-3,553,000
service fees																																																																		102,856,000										110,697,000
realized investment gains																																																																		-356,931,000										17,209,000								-867,000
revenues from wholly-owned investees																																																																		137,280,000
total revenues																																																																		4,708,808,000										4,996,839,000								7,527,000
interest expense																																																																		84,623,000										85,926,000								44,546,000
income before income taxes																																																																		326,322,000										770,537,000
income tax expense																																																																		-44,919,000
minority interest																																																																		-262,000	5,248,000	5,178,000	5,170,000	34,384,000	31,924,000	31,043,000	27,382,000	25,188,000	22,015,000	-3,124,000	21,023,000	26,601,000	46,870,000	39,584,000	36,768,000	37,494,000	37,444,000
income before change in accounting																																																																		281,141,000										544,892,000
cumulative effect of change in accounting
net income																																																																		281,141,000										544,892,000
data per common share:
net income per basic share																																																																		1,680
net income per diluted share																																																																		1,620
stockholders’ equity																																																																		18,870										20,130
cash dividends declared																																																																		230										200
weighted-average shares outstanding:
basic																																																																		166,956,000										127,022,000
diluted																																																																		173,454,000										133,617,000
investments																																																																		11,143,281,000										10,378,250,000
partnerships and affiliates																																																																			550,292,000	500,351,000	480,772,000	525,549,000		476,086,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 162,149,253 and 180,320,775 shares																																																																			47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 163,869,101 and 180,320,775 shares																																																																				47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 170,472,075 and 180,320,775 shares																																																																					47,024,000
equity securities trading account																																																																						714,017,000		756,913,000	787,460,000	711,481,000	930,202,000		496,613,000	528,481,000	441,564,000	400,736,000	415,486,000	462,587,000	230,843,000
policyholders’ account balances																																																																									100,028,000	90,239,000	90,533,000		75,917,000	73,112,000	71,383,000	62,199,000	59,017,000	55,517,000	50,548,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 183,274,658 and 192,771,889 shares																																																																						47,024,000
investments in partnerships and affiliates																																																																							465,672,000		401,784,000	385,411,000	409,198,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 192,875,696 and 192,771,889 shares																																																																							47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 194,011,729 and 192,771,889 shares																																																																								47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 191,571,222 and 191,264,346 shares																																																																									47,024,000
authorized 500,000,000 shares, issued and outstanding, net of treasury shares, 191,282,355 and 191,264,346 shares																																																																										47,024,000
liabilities and stockholders’ equity liabilities:
authorized 300,000,000 shares, issued and outstanding, net of treasury shares, 192,297,977 and 191,264,346 shares																																																																											47,024,000
income tax benefit																																																																												-222,521,000
income per basic share																																																																												4,290
income per diluted share																																																																												4,080
investments in affiliates																																																																													296,952,000	264,049,000	248,924,000	223,051,000	172,721,000	160,921,000
due to broker																																																																													150,417,000	116,667,000	131,909,000
authorized 300,000,000 shares, issued and outstanding, net of treasury shares, 127,422,615 and 126,409,313 shares																																																																													31,351,000
authorized 300,000,000 shares, issued and outstanding, net of treasury shares, 126,987,179 and 126,409,313 shares																																																																														31,351,000
authorized 300,000,000 shares, issued and outstanding, net of treasury shares, 126,769,677 and 126,409,313 shares																																																																															31,351,000
real estate, furniture & equipment at cost, less accumulated depreciation																																																																																156,876,000	149,394,000	147,119,000	141,198,000	7,979,000
deferred income taxes																																																																																84,076,000	111,540,000	41,081,000
trading securities sold but not yet purchased																																																																																171,522,000	158,036,000	243,835,000
authorized 5,000,000 shares; issued and outstanding – none
authorized 300,000,000 shares, issued and outstanding, net of treasury shares, 84,128,636 and 83,537,740 shares																																																																																20,901,000
authorized 300,000,000 shares, issued and outstanding, net of treasury shares, 84,043,852 and 83,537,740 shares																																																																																	20,901,000
authorized 150,000,000 shares, issued and outstanding, net of treasury shares, 83,802,421 and 83,537,740 shares																																																																																		20,901,000
other investments																																																																																			103,909,000
account receivable from brokers and clearing organizations																																																																																			163,727,000
securities sold but not yet purchased																																																																																			80,028,000
debt																																																																																			658,933,000	327,192,000
trust preferred securities																																																																																			193,325,000	198,251,000
fixed maturity securities:
held to maturity, at cost
available for sale at fair value																																																																																				26,016,000
equity securities, at fair value:
available for sale																																																																																				763,000
trading account																																																																																				909,000
due from subsidiaries																																																																																				85,276,000
current federal income taxes receivable
liabilities, debt and stockholders’ equity
management fees and investment income from affiliates, including dividends of 7,210, and 44,533 for 2001 and 2000, respectively																																																																																				5,470,000
other income																																																																																				2,924,000
expenses, other than interest expense																																																																																				39,349,000
restructuring charge
income before federal income taxes																																																																																				-76,368,000
federal income taxes:
federal income tax benefit on a consolidated return basis																																																																																				-77,438,000
net benefit																																																																																				28,707,000
income before undistributed equity in net income of subsidiaries																																																																																				-47,661,000
equity in undistributed net income of subsidiaries																																																																																				222,706,000
net income attributable to common stockholders																																																																																				175,045,000

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