Exhibit 99.1

ALLEGHANY CORPORATION

7 Times Square Tower, 17th Floor

New York, NY 10036

ALLEGHANY CORPORATION REPORTS 2012 RESULTS:

STOCKHOLDERS’ EQUITY PER COMMON SHARE

INCREASES 10.8% SINCE 2011 YEAR-END

NEW YORK, NY, February 21, 2013 – Alleghany Corporation (NYSE-Y) reported stockholders’ equity per common share of $379.13 as of December 31, 2012, an increase of 10.8% from stockholders’ equity per common share of $342.12 at 2011 year-end.

Stockholders’ equity per common share as of December 31, 2012 reflects 8,360,959 shares issued in connection with the merger between Alleghany and Transatlantic Holdings, Inc. (“TransRe”), which closed on March 6, 2012. Alleghany’s results for 2012 include TransRe’s operations subsequent to the closing date.

Results for the 2012 fourth quarter include an after-tax underwriting loss, net of reinsurance and reinstatement premiums, of $267.8 million from Super Storm Sandy. In addition, fourth quarter after-tax investment income was reduced by $8.6 million as a result of Sandy losses at Alleghany’s Homesite Group Incorporated investment.

Our recorded loss for Sandy is based on an analysis of reported claims, an underwriting review of in-force contracts, estimates of losses resulting from wind, flood and other perils, and other factors requiring considerable judgment. Our ultimate loss from Sandy may be materially different from the current estimate due to the broad size and complexity of the event and the preliminary nature of the available information.

Results for the fourth quarter and full year include:

 

   

An increase in stockholders’ equity to approximately $6.4 billion as of December 31, 2012 from approximately $2.9 billion as of December 31, 2011, primarily reflecting the merger and Alleghany’s net earnings and unrealized investment gains in 2012.

 

   

Cash and invested assets as of December 31, 2012 of approximately $19.0 billion, compared with $4.9 billion as of December 31, 2011.

 

   

A 2012 fourth quarter pre-tax loss, before merger-related items, of $147.4 million, compared with pre-tax earnings of $74.0 million for the 2011 fourth quarter.

 

   

A 2012 fourth quarter net loss of $92.6 million or $5.47 per common share (presented on a basic basis throughout), compared with net earnings of $37.7 million or $4.38 per common share, for the 2011 fourth quarter.

 

   

2012 pre-tax earnings, before merger-related items, of $511.5 million, compared with $213.5 million for 2011.

 

   

2012 net earnings of $702.2 million or $45.48 per common share, compared with $143.3 million or $16.26 per common share for 2011. Net earnings for 2012 include merger-related items associated with the purchase of TransRe, including a gain of $494.9 million resulting from the application of purchase accounting treatment, amortization of intangible assets of $253.3 million and transaction costs of $33.8 million.


The following information was filed by Alleghany Corp De (Y) on Thursday, February 21, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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