Alleghany Corporation

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2008
2007
2006
2005
Press Releases
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2008

05-15-2008
Alleghany Announces Preferred Stock Dividend

NEW YORK, NY, May 15, 2008 -- Alleghany Corporation (NYSE:Y) announced today that a dividend of $3.8036 per preferred share will be paid on its 5.75% mandatory convertible preferred stock on June 16, 2008 to holders of record on June 2, 2008. Alleghany is engaged through its subsidiary Alleghany Insurance Holdings LLC (including its insurance operating units RSUI Group, Inc., Capitol Transamerica Corporation, Darwin Professional Underwriters, Inc. and Employers Direct Corporation) in the property and cas full text

2008

04-24-2008
Alleghany Announces 2008 First Quarter Results

NEW YORK, NY, April 24, 2008 -- Stockholders’ equity per common share of Alleghany Corporation (NYSE-Y) at March 31, 2008 was $304.63, an increase of 1.6% from stockholders’ equity per common share of $299.72 at December 31, 2007 (all as adjusted for the stock dividend declared in February 2008), Weston M. Hicks, President and chief executive officer of Alleghany, announced today. Alleghany’s net earnings in the 2008 first quarter were $98.7 million, or $11.33 per common share (presented on a basic basis full text

2008

03-04-2008
Alleghany Comments on Standard & Poor's Rating Ser

NEW YORK, NY, March 4, 2008 -- On March 4, 2008, Standard & Poor's Ratings Services (“S&P”) informed Alleghany Corporation (NYSE:Y) that S&P was lowering S&P’s counterparty credit rating on Alleghany Corporation by one notch to 'BBB' from ‘BBB+’ with a stable outlook due to S&P’s belief that Alleghany “increasingly resembles a traditional insurance holding company, which reduces the justification for nonstandard notching under [S&P’s] group methodology for financial services companies.” full text

2008

02-27-2008
Alleghany Announces 2008 Stock Dividend

NEW YORK, NY, February 27, 2008 -- The board of directors of Alleghany Corporation (NYSE:Y) has declared a dividend on its common stock of one share of Alleghany common stock in respect of every 50 shares outstanding. This stock dividend will be distributed on April 25 to holders of record on April 1. Cash will be paid in lieu of fractional shares of Alleghany stock. full text

2008

02-26-2008
Alleghany Announces 2007 Results

NEW YORK, NY, February 26, 2008 -- Stockholders’ equity per common share of Alleghany Corporation (NYSE-Y) at December 31, 2007 was $305.72, an increase of 15.5% from stockholders’ equity per common share of $264.80 at December 31, 2006 (all as adjusted for the stock dividend declared in February 2007), Weston M. Hicks, President and chief executive officer of Alleghany, announced today. On a consolidated basis, cash and invested assets were approximately $4.87 billion at December 31, 2007, an increase o full text

2008

02-15-2008
Alleghany Announces Preferred Stock Dividend

NEW YORK, NY, February 15, 2008 -- Alleghany Corporation (NYSE:Y) announced today that a dividend of $3.8036 per preferred share will be paid on its 5.75% mandatory convertible preferred stock on March 17, 2008 to holders of record on March 3, 2008. full text

2007

11-15-2007
Alleghany Announces Preferred Stock Dividend

NEW YORK, NY, November 15, 2007 -- Alleghany Corporation (NYSE:Y) announced today that a dividend of $3.8036 per preferred share will be paid on its 5.75% mandatory convertible preferred stock on December 17, 2007 to holders of record on December 3, 2007. full text

2007

11-06-2007
Alleghany Announces 2007 Third Quarter Results

NEW YORK, NY, November 6, 2007 -- Stockholders’ equity per common share of Alleghany Corporation (NYSE-Y) at September 30, 2007 was $293.60, an increase of 12.2% from stockholders’ equity per common share of $261.59 at December 31, 2006 (all as adjusted for the stock dividend declared in February 2007), Weston M. Hicks, President and chief executive officer of Alleghany, announced today. Alleghany’s net earnings in the 2007 third quarter were $72.0 million, or $7.87 per common share (presented on a dilut full text

2007

08-27-2007
Alleghany Announces Preferred Stock Dividend

NEW YORK, NY, August 27, 2007 -- Alleghany Corporation (NYSE:Y) announced today that a dividend of $3.8036 per preferred share will be paid on its 5.75% mandatory convertible preferred stock on September 17, 2007 to holders of record on September 3, 2007. Alleghany is engaged through its subsidiary Alleghany Insurance Holdings LLC (including its insurance operating units RSUI Group, Inc., Capitol Transamerica Corporation, Darwin Professional Underwriters, Inc. and Employers Direct Corporation) in the pro full text

2007

08-07-2007
Alleghany Announces 2007 Second Quarter Results

NEW YORK, NY, August 7, 2007 -- Stockholders’ equity per common share of Alleghany Corporation (NYSE-Y) at June 30, 2007 was $282.30, an increase of 7.9% from stockholders’ equity per common share of $261.59 at December 31, 2006 (all as adjusted for the stock dividend declared in February 2007), Weston M. Hicks, President and chief executive officer of Alleghany, announced today. Alleghany’s net earnings in the 2007 second quarter were $62.9 million, or $7.03 per common share (presented on a diluted bas full text

2007

07-18-2007
Alleghany Acquires Employers Direct Corporation

NEW YORK, NY, July 18, 2007 -- Alleghany Corporation (NYSE:Y) announced today that it has completed the acquisition of Employers Direct Corporation (“EDC”) for a purchase price of approximately $192.5 million. EDC, which was founded in 2002, is an insurance holding company based in Agoura Hills, California. EDC writes workers’ compensation insurance on a direct basis primarily in the State of California through its wholly-owned subsidiary Employers Direct Insurance Company. Management and the approximate full text

2007

05-15-2007
Alleghany Announces Preferred Stock Dividend

Alleghany Corporation (NYSE:Y) announced today that a dividend of $3.8036 per preferred share will be paid on its 5.75% mandatory convertible preferred stock on June 15, 2007 to holders of record on June 1, 2007. Alleghany is engaged through its subsidiary Alleghany Insurance Holdings LLC (including its insurance operating units RSUI Group, Inc., Capitol Transamerica Corporation and Darwin Professional Underwriters, Inc.) in the property and casualty insurance business. full text

2007

04-30-2007
Alleghany Announces Agreement to Acquire Employers

NEW YORK, NY, April 30, 2007 -- Alleghany Corporation (NYSE:Y) announced today that it has entered into a definitive agreement to acquire Employers Direct Corporation (“EDC”), a direct writer of California workers’ compensation insurance, for a cash purchase price of approximately $195.0 million. The transaction is subject to certain closing conditions, including the receipt of all required regulatory approvals, and is expected to close in the third quarter of 2007. full text

2007

04-26-2007
Alleghany Announces 2007 First Quarter Results

NEW YORK, NY, April 26, 2007 -- Stockholders’ equity per common share of Alleghany Corporation (NYSE-Y) at March 31, 2007 was $271.60, an increase of 3.8% from stockholders’ equity per common share of $261.59 at December 31, 2006 (all as adjusted for the stock dividend declared in February 2007), Weston M. Hicks, President and chief executive officer of Alleghany, announced today. Alleghany’s net earnings in the 2007 first quarter were $106.4 million, or $11.90 per common share (presented on a diluted ba full text

2007

02-28-2007
Alleghany Announces Preferred Stock Dividend

NEW YORK, NY, February 28, 2007 -- Alleghany Corporation (NYSE:Y) announced today that a dividend of $3.8036 per preferred share will be paid on its 5.75% mandatory convertible preferred stock on March 15, 2007 to holders of record on March 1, 2007. full text

2007

02-28-2007
Alleghany Announces 2007 Stock Dividend

NEW YORK, NY, February 28, 2007 -- The board of directors of Alleghany Corporation (NYSE:Y) has declared a dividend on its common stock of one share of Alleghany common stock in respect of every 50 shares outstanding. This stock dividend will be distributed on April 27 to holders of record on April 2. Cash will be paid in lieu of fractional shares of Alleghany stock. full text

2007

02-27-2007
Alleghany Announces 2006 Results

NEW YORK, NY, February 27, 2007 -- Stockholders’ equity per common share of Alleghany Corporation (NYSE-Y) at December 31, 2006 was $266.82, an increase of 15.1% from stockholders’ equity per common share of $231.72 at December 31, 2005 (all as adjusted for the stock dividend declared in February 2006), Weston M. Hicks, President and chief executive officer of Alleghany, announced today. On a consolidated basis, cash and invested assets were approximately $4.126 billion at December 31, 2006, an increase full text

2007

01-02-2007
Alleghany Corporation Announces Completion of Inve

NEW YORK, NY, January 2, 2007 -- Alleghany Corporation (NYSE:Y) announced today that the previously announced investment by its wholly-owned subsidiary Alleghany Insurance Holdings LLC (“AIHL”) in Homesite Group Incorporated had been completed on December 29, 2006. Under the terms of the transaction, AIHL received 85,714 shares of common stock of Homesite, representing approximately 32.9% of Homesite common stock after giving effect to the transaction, for a purchase price of approximately $120 million. full text

2006

12-19-2006
Alleghany Announces Retirement of F.M. Kirby and

Alleghany Corporation (NYSE: Y) announced today that F.M. Kirby, Chairman of the Board of Directors of Alleghany, has elected to retire as a director and Chairman effective at the end of 2006. John J. Burns, Jr., Vice Chairman of the Board, will succeed Mr. Kirby as Chairman of the Board of Directors effective January 1, 2007. full text

2006

12-05-2006
Alleghany Corporation Announces Investment in Home

Alleghany Corporation (NYSE:Y) announced today that it has entered into a stock purchase agreement with Homesite Group Incorporated pursuant to which Alleghany will acquire 85,714 shares of common stock of Homesite, representing approximately 32.9% of Homesite common stock after giving effect to the transaction, for a purchase price of approximately $120 million. The transaction has been approved by the Boards of Directors of Alleghany and Homesite and is subject to certain closing conditions, including th full text

2006

11-15-2006
Alleghany Announces Preferred Stock Dividend

NEW YORK, NY, November 15, 2006 -- Alleghany Corporation (NYSE:Y) announced today that a dividend of $3.8036 per preferred share will be paid on its 5.75% mandatory convertible preferred stock (the “Preferred Stock”) on December 15, 2006 to holders of record on December 1, 2006. full text

2006

11-06-2006
Alleghany Announces 2006 Third Quarter Results

NEW YORK, NY, November 6, 2006 -- Stockholders’ equity per common share of Alleghany Corporation (NYSE-Y) at September 30, 2006 was $257.15, an increase of 11.0% from stockholders’ equity per common share of $231.72 at December 31, 2005 (all as adjusted for the stock dividend declared in February 2006), Weston M. Hicks, President and chief executive officer of Alleghany, announced today. full text

2006

08-15-2006
Alleghany Announces Preferred Stock Dividend

Alleghany Corporation (NYSE:Y) announced today that a dividend of $3.4655 per preferred share will be paid on its 5.75% mandatory convertible preferred stock (the “Preferred Stock”) on September 15, 2006 to holders of record on September 1, 2006. full text

2006

08-09-2006
Alleghany Announces 2006 Second Quarter Results

NEW YORK, NY, August 9, 2006 -- Stockholders' equity per common share of Alleghany Corporation (NYSE-Y) at June 30, 2006 was $250.15, an increase of 8.0% from stockholders' equity per common share of $231.72 at December 31, 2005 (all as adjusted for the stock dividend declared in February 2006), Weston M. Hicks, President and chief executive officer of Alleghany, announced today. Mr. Hicks commented, "We are pleased that each of our insurance operating units, RSUI, CATA, and Darwin, produced strong underwri full text

2006

06-23-2006
Alleghany Announces Closing of Mandatory Convertib

New York, NY, June 23, 2006 -- Alleghany Corporation (“Alleghany”) (NYSE-Y) today announced that it has closed a public offering of 1,132,000 shares of its mandatory convertible preferred stock due June 15, 2009 at $264.60 per share, resulting in net proceeds of approximately $290 million. The mandatory convertible preferred stock has a dividend yield of 5.75% and a conversion premium of 18% above the mandatory convertible preferred stock public offering price. full text

2006

06-20-2006
Alleghany Announces Pricing of Mandatory Convertib

New York, NY, June 20, 2006 – Alleghany Corporation (“Alleghany”) (NYSE-Y) today announced that it has set the price for the public offering of 985,000 shares of its 5.75% mandatory convertible preferred stock due June 15, 2009 at $264.60 per share. The mandatory convertible preferred stock will have a dividend yield of 5.75% and a conversion premium of 18% above the public offering price. The underwriters have an option to purchase from Alleghany up to an additional 147,000 shares of mandatory convertibl full text

2006

06-14-2006
Alleghany Announces Commencement of Mandatory Conv

New York, NY, June 14, 2006 – Alleghany Corporation (“Alleghany”) (NYSE-Y) today announced that it has commenced a public offering of approximately $260 million of its mandatory convertible preferred stock. The underwriters have an option to purchase from Alleghany additional shares of mandatory convertible preferred stock to cover over-allotments, if any. Alleghany currently intends to use the net proceeds from the sale of its mandatory convertible preferred stock to make contributions to the capit full text

2006

05-24-2006
Alleghany Announces Closing of Darwin Initial Publ

May 24, 2006 (New York, NY) -- Alleghany Corporation (NYSE-Y) (“Alleghany”) announced today the closing of the previously announced initial public offering (the “IPO”) of the common stock of its subsidiary Darwin Professional Underwriters, Inc. (NYSE Arca: DR) (“Darwin”). The sale in the IPO of 6,000,000 shares of common stock at $16.00 per share yielded gross proceeds of $96 million and net proceeds of approximately $86.3 million. These amounts reflect the exercise by the underwriters of their over-allo full text

2006

05-18-2006
Alleghany Announces Pricing of Darwin Initial Publ

NEW YORK, NY, May 18, 2006 -- Alleghany Corporation (NYSE-Y) today announced that its subsidiary, Darwin Professional Underwriters, Inc. (“Darwin”), has priced its initial public offering of 5,217,391 shares of common stock at $16.00 per share (the “IPO”). Gross proceeds from the IPO are expected to be approximately $83.5 million and net proceeds are expected to be approximately $74.9 million. All of the proceeds of the IPO, after deduction of underwriting discounts and commissions and payment of offer full text

2006

04-27-2006
Alleghany Announces 2006 First Quarter Results

NEW YORK, NY, April 27, 2006 -- Common stockholders’ equity per share of Alleghany Corporation (NYSE-Y) at March 31, 2006 was $244.33, an increase of 5.4% from common stockholders’ equity per share of $231.72 at December 31, 2005 (all as adjusted for the stock dividend declared in February 2006), Weston M. Hicks, President and chief executive officer of Alleghany, announced today. Alleghany’s net earnings from continuing operations in the first quarter of 2006 were $59.2 million, or $7.35 per share (pres full text

2006

03-10-2006
Alleghany Announces Filing of S-1 Registration Sta

NEW YORK, NY, March 10, 2006 -- Alleghany Corporation (NYSE-Y) today announced that its subsidiary, Darwin Professional Underwriters, Inc. (“Darwin”), has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”) for the initial public offering (the “IPO”) of Darwin’s common stock. All of the proceeds of the IPO, after the deduction of underwriting discounts and commissions and payment of offering expenses, will be used to reduce Alleghany’s ownership interes full text

2006

02-27-2006
Alleghany Announces 2005 Results

NEW YORK, NY, February 27, 2006 -- Alleghany Corporation (NYSE-Y) reported net earnings from continuing operations in 2005 of $46.0 million, or $5.83 per share (presented on a diluted basis throughout), compared with net earnings from continuing operations of $102.7 million, or $13.10 per share, in 2004, Weston M. Hicks, President and chief executive officer of Alleghany, announced today. Alleghany’s common stockholders’ equity per share at December 31, 2005 was $236.35, an increase of 4.4% from common s full text

2005

11-08-2005
Alleghany Announces 2005 Third Quarter Results

NEW YORK, NY, November 8, 2005 -- Alleghany Corporation (NYSE-Y) reported a net loss from continuing operations in the 2005 third quarter of $105.0 million, or $13.30 per share (per share information throughout is presented on a diluted basis), compared with a net loss of $50.7 million, or $6.48 per share, in the third quarter of 2004. The 2005 third quarter results include net after-tax (after-tax amounts throughout reflect tax at the federal income tax rate) catastrophe losses, including reinsurance re full text

2005

08-08-2005
Alleghany Announces 2005 Second Quarter Results

NEW YORK, NY, August 8, 2005 -- Net earnings from continuing operations of Alleghany Corporation (NYSE-Y) in the second quarter of 2005 were $36.9 million, or $4.67 per share (per share information throughout is presented on a diluted basis), compared with $44.0 million, or $5.61 per share, in the second quarter of 2004, Weston M. Hicks, President and chief executive officer of Alleghany, announced today. Alleghany common stockholders’ equity per share at June 30, 2005 was $233.29, an increase of 3.0% fr full text

2005

07-14-2005
Alleghany Completes Sale of Industrial Minerals Bu

Alleghany Corporation (NYSE: Y) announced today that the previously announced sale of its world-wide industrial minerals business, World Minerals Inc., to Imerys USA, Inc., a wholly-owned subsidiary of Imerys, S.A., had been completed. Under the terms of the transaction, Alleghany received a purchase price of approximately $217,000,000. Alleghany anticipates that the transaction will result in a modest after-tax gain. full text

2005

05-19-2005
Alleghany Announces Agreement to Sell World Minera

Alleghany Corporation (NYSE: Y) today announced that it has signed a definitive agreement providing for the sale of its world-wide industrial minerals business, World Minerals Inc., to Imerys USA, Inc., a wholly-owned subsidiary of Imerys, S.A. full text

2005

04-22-2005
Alleghany Announces 2005 First Quarter Results

Net earnings from continuing operations of Alleghany Corporation (NYSE-Y) in the first quarter of 2005 were $60.9 million, or $7.72 per share (per share information throughout is presented on a diluted basis), compared with $60.7 million, or $7.75 per share, in the first quarter of 2004, Weston M. Hicks, President and chief executive officer of Alleghany, announced today. full text

2005

03-08-2005
Alleghany Announces 2004 Results

Alleghany Corporation reported net earnings from continuing operations in 2004 of $117.9 million, or $15.34 per share (per share information throughout is presented on a diluted basis), compared with net earnings from continuing operations of $166.2 million, or $21.79 per share, in 2003, Weston M. Hicks, President and chief executive officer of Alleghany, announced today. full text

2005

03-04-2005
Alleghany Announces 2005 Stock Dividend

The Board of Directors of Alleghany Corporation has declared a dividend on its common stock of one share of Alleghany common stock in respect of every 50 shares outstanding. full text

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