Alleghany Corporation Y

Profile

Sector

Financial Services

Industry

Insurance - Property & Casualty

CEO

Weston Hicks

Employees

13313

Country

US

Alleghany Corporation, established in 1929 and headquartered in New York, delivers property and casualty (P&C) reinsurance and insurance products to clients across the United States and internationally. The company operates through three primary operating divisions: Reinsurance, Insurance, and Alleghany Capital. The Reinsurance segment offers diverse protections, including coverage for fire, allied perils, vehicle physical damage, and homeowners' multi-peril events. It also provides a suite of casualty and specialized reinsurance coverages such as medical malpractice, marine and aviation risks, accident and health, mortgage, surety, credit, directors' and officers' (D&O), errors and omissions (E&O), general liability, and auto liability. This division reaches other insurance and reinsurance companies directly and through brokerage channels. Within the Insurance segment, Alleghany underwrites bespoke insurance coverages spanning property, umbrella and excess liability, general liability, directors' and officers' (D&O), and professional liability. It also provides commercial and contract surety bonds, in addition to workers' compensation insurance. Its products are distributed through independent wholesale insurance brokers, as well as retail and general insurance agents. Alleghany Capital manages a diversified portfolio of non-financial businesses. These ventures range from providing advanced automated machine tool solutions and manufacturing custom trailers and truck bodies for the moving and storage sector, to delivering engineering, procurement, construction management, and validation services for the pharmaceutical and biotechnology industries. Further operations include supplying products and services for the funeral, cemetery, and precast concrete industries, and engaging in hotel management and development. This segment also encompasses a toy and musical instrument company, along with a structural steel fabrication and erection business. Beyond these industrial and service operations, Alleghany Capital holds and manages both improved and unimproved commercial land and residential lots, possessing approximately 77 acres of property as of December 31, 2021.