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Alleghany

Alleghany adds Chris Cheesman to Board of Directors

23rd September 2021

Investment holding company Alleghany Corporation has elected Chris Cheesman as a new independent director to its Board of Directors, increasing the size from eight to nine directors. Cheesman is a member of the Board of Directors of American Century Investments' suite of equity mutual funds. She is an accomplished senior executive with ... Read the full article

TransRe’s solid underwriting performance boosts Alleghany in 2021

6th August 2021

Alleghany Corporation has reported a return to underwriting profitability across its business for the second quarter of 2021, driven by a strong year-on-year turnaround in the performance of its reinsurance operation, TransRe. Overall, Alleghany has announced underwriting profit of $174 million for Q2 2021 and a combined ratio of 90.2%, compared ... Read the full article

TransRe adjusts underwriting structure with key promotions

13th July 2021

TransRe, the New York headquartered reinsurer wholly owned by Alleghany Corporation, has altered its underwriting structure and made a number of key promotions. The changes come as the firm looks to sharpen its portfolio analysis and consistency, while maintaining client and broker relationships. Firstly, Paul McKeon has been promoted to President, Regional ... Read the full article

TransRe’s combined ratio strengthens on lower cat & COVID losses

7th May 2021

Alleghany Corporation has reported a combined ratio of 99% for the first quarter of 2021 against 101.7% for the prior year period, helped in part by a $5 million underwriting gain at TransRe despite the impacts of winter storms in the U.S. and the pandemic. Overall, Alleghany has announced total revenue ... Read the full article

TransRe announces Brandt as new President & CEO as Sapnar departs

16th March 2021

Transatlantic Holdings, Inc. (TransRe) has announced that its President and Chief Executive Officer (CEO), Mike Sapnar, will be leaving the company to pursue another opportunity and will be succeeded by the firm's Co-President of Global Underwriting, Ken Brandt. Sapnar will remain with the company through April 30th, 2021 to assist with ... Read the full article

Joseph Brandon to succeed Weston Hicks as Alleghany CEO

4th March 2021

Weston Hicks, President and Chief Executive Officer (CEO) of Alleghany Corporation, has announced his intention to retire from his position and as a director of the company at the end of 2021. Hicks will be succeeded as CEO by Joseph Brandon, currently Executive Vice President (EVP), who will also join the ... Read the full article

TransRe fails to shake underwriting loss in Q4

24th February 2021

Alleghany Corporation has posted underwriting profit of $16.5 million in the fourth quarter of 2020, despite another period of losses for its reinsurance arm, TransRe. TransRe reported an underwriting loss of $34.6 million in Q4, which was an improvement on the $162.8 million loss it posted for the same period in ... Read the full article

$81mn Q3 underwriting loss pushes Alleghany’s CR to 105.2%

4th November 2020

Investment holding company Alleghany has produced an $81 million underwriting loss for the third quarter of 2020, pushing its combined ratio to 105.2%. The prior year quarter saw Alleghany achieve an underwriting profit of $33 million and a combined ratio of 97.6%. Underwriting losses in the quarter were driven by a $270 ... Read the full article

TransRe posts Q2 underwriting loss as Alleghany’s CR hits 102.8%

5th August 2020

Alleghany Corporation has reported an underwriting loss of $39.5 million for the second-quarter of 2020 as its reinsurance arm, TransRe fell to an underwriting loss of more than $30 million on the back of COVID-19-related losses of $115 million. TransRe's Q2 underwriting loss compares with a gain of $75.9 million in ... Read the full article

TransRe takes $153mn Q1 hit from COVID-19

6th May 2020

Investment holding company Alleghany Corporation has seen the combined ratio of its reinsurance business TransRe increase 13.5 points in the first quarter to 107%, due to significant catastrophe losses primarily related to the coronavirus pandemic. TransRe’s net premiums written increased 9.3% in Q1 from the first quarter of 2019, primarily reflecting ... Read the full article

Alleghany president sees bright future for TransRe despite 2019 loss

21st February 2020

Despite a modest underwriting loss in 2019, Alleghany president Weston Hicks has praised TransRe’s “deep reservoir of underwriting expertise” and believes the end of a competitive downturn in the global property and casualty reinsurance industry will result in improved market conditions in 2020 and beyond. TransRe recorded an underwriting loss ... Read the full article

TransRe typhoon losses weigh heavily on Alleghany results

20th February 2020

Investment holding company Alleghany Corporation has posted an underwriting profit of just $33 million for 2019, weighed down by catastrophe losses incurred by its reinsurance arm, Transatlantic Reinsurance Company (TransRe). TransRe recorded an underwriting loss of $40.9 million for the year after being hit by $301 million of catastrophe losses, mostly ... Read the full article

TransRe results help Alleghany return to profitability in Q3

6th November 2019

Alleghany Corporation has returned to profitability during the third quarter of 2019, helped by positive results from its reinsurance business, TransRe. Alleghany posted operating earnings of $109.8 million in Q3 2019, compared to a loss of $16.0 million for the same period last year. Similarly, the company recorded underwriting profits of $32.8 ... Read the full article

Alleghany’s TransRe, RSUI benefiting from improving conditions

7th August 2019

Alleghany Corporation has announced an underwriting profit of $114.9 million for the second-quarter of 2019, driven by higher profits in both its insurance and reinsurance segments. Alleghany's underwriting profit increased by almost 19% in Q2 2019 when compared with Q2 2018, while net earnings remained flat at $295.5 million and ... Read the full article

Sennott appointed Chairman, CEO & President of Alleghany’s CapSpecialty

2nd July 2019

Alleghany Corporation has named Jack Sennott as Chairman, Chief Executive Officer (CEO) and President of its commercial property, casualty and surety insurance subsidiary, CapSpecialty, Inc. Sennott previously served as Senior Vice President (SVP) and Chief Financial Officer (CFO) of Alleghany, and is to be replaced by Kerry Jacobs, effective immediately. Jacobs previously ... Read the full article

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