Exhibit 99.1

ALLEGHANY CORPORATION

1411 Broadway, 34th Floor

New York, NY 10018

ALLEGHANY CORPORATION REPORTS 2018 SECOND QUARTER RESULTS

Book value per common share increases 2.8% in the second quarter

NEW YORK, NY, August 2, 2018 – Alleghany Corporation (NYSE-Y) announced today its financial results for the second quarter and first six months of 2018.

Weston Hicks, President and chief executive officer, stated, “Total revenues grew 22% in the second quarter contributing to strong earnings and solid growth in book value. Book value per common share1 increased 2.8% in the second quarter and 1.3% year to date to $560.49 as of June 30, 2018. Including the $10 per share special dividend paid on March 15, 2018, book value per common share1 increased 3.1% year to date. Our second quarter results reflect strong earnings at Alleghany Capital, solid underwriting at TransRe, and strong equity gains, which beginning in 2018 are included in the income statement. In addition, increased investment income and a lower effective tax rate contributed to an approximate 47% improvement in Alleghany’s operating earnings.

Both RSUI and CapSpecialty delivered strong growth in premiums written in the second quarter of 2018, as they capitalized on a number of opportunities across their businesses. These two businesses together produced a 9.6% increase in net premiums written in the second quarter. This growth largely offset the second quarter 2017 premium contribution for PacificComp, which was sold at year-end 2017.”

Mr. Hicks concluded, “Alleghany Capital’s overall performance was strong in the second quarter. Revenue growth was driven by the additions of W&W|AFCO Steel and Wilbert Funeral Services in 2017. Operating earnings before taxes were up 415% to $13.4 million in the second quarter of 2018, compared with the second quarter of 2017. Growth in earnings at Kentucky Trailer, Bourn & Koch and IPS, as well as the additions of W&W|AFCO Steel and Wilbert Funeral Services, were the main contributors to the growth in operating earnings.”

During the second quarter, Alleghany repurchased approximately $214.8 million worth of its shares at an average price of $582.92. At its June 2018 Board meeting, Alleghany’s Board of Directors authorized, upon completion of its previously announced program, the repurchase of additional shares of common stock, at such times and prices as management determines to be advisable, up to an aggregate of $400.0 million.

The following table summarizes the changes in book value per common share1 for the three and six months ended June 30, 2018:

 

Book value per common share1:

   For the three
months ended
June 30, 2018
      Percent  
Change
     For the six
months ended
June 30, 2018
      Percent  
Change
    Percent
Change
ex-dividend
 

As of the beginning of the period

   $ 545.07        $ 553.20      

 

Special dividend2

     -       -        (10.00     (1.8 %)   

 

Diluted earnings per share

     19.44       3.6%        30.52       5.5  

 

Other comprehensive income and other3

     (4.02     (0.8%)        (13.23     (2.4 %)   
  

 

 

      

 

 

     

As of the end of the period

   $ 560.49       2.8%      $ 560.49       1.3     3.1%  

 

  1  Stockholders’ equity attributable to Alleghany stockholders divided by common stock outstanding.

 

  2  Adjusted to reflect a $10 per share special dividend payment on March 15, 2018.

 

  3  Relates primarily to unrealized depreciation on bonds, after tax.

 

1


The following information was filed by Alleghany Corp De (Y) on Thursday, August 2, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Alleghany Corp De's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Alleghany Corp De.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account