水善 - Water (is) Benevolent
土強 - Earth (is) Strong
火烈 - Fire (is) Fierce
气和 - Air (is) Peaceful
群雄四分 - Mighty Heroes/ Powers divided into Four (Pun on the first two characters)
天下一 匡- 一匡天下 Is a Confucius quote. One suggested translation is to ‘Unite the World’.