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Results for Reportable Segments and Corporate Activities (Detail) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Segment Reporting Information [Line Items]        
Gross premiums written $ 2,378,000 $ 1,891,400 $ 6,648,300 $ 5,383,100
Net premiums written 1,983,100 1,637,100 5,616,100 4,648,800
Net premiums earned 1,842,894 1,556,859 5,232,008 4,396,147
Net loss and LAE 1,513,877 1,173,655 3,713,153 3,225,461
Commissions, brokerage and other underwriting expenses 529,247 464,522 1,528,796 1,315,935
Underwriting (loss) profit [1] (200,200) (81,300) (10,000) (145,300)
Net investment income 132,965 129,265 413,380 359,938
Change in the fair value of equity securities (136,042) 92,799 180,588 (187,991)
Net realized capital gains 20,172 16,751 46,045 (8,323)
Change in allowance for credit losses on available for sale securities 54 3,454 2,272 (10,900)
Product and service revenues 1,006,570 723,785 2,574,830 1,684,335
Other operating expenses 890,972 669,423 2,354,453 1,646,390
Corporate administration 6,225 12,871 35,931 17,143
Amortization of intangible assets 12,637 11,223 36,546 32,884
Interest expense 25,659 23,319 73,448 63,869
(Losses) earnings before income taxes (112,004) 167,900 706,796 (68,476)
Operating Segments        
Segment Reporting Information [Line Items]        
Gross premiums written 2,389,700 1,900,600 6,678,500 5,409,200
Net premiums written 1,983,100 1,637,100 5,616,100 4,648,800
Net premiums earned 1,842,900 1,556,900 5,232,000 4,396,100
Net loss and LAE 1,513,900 1,173,700 3,713,200 3,225,500
Commissions, brokerage and other underwriting expenses 529,200 464,500 1,528,800 1,315,900
Underwriting (loss) profit [1] (200,200) (81,300) (10,000) (145,300)
Net investment income 125,100 122,700 384,800 349,600
Change in the fair value of equity securities (78,300) 103,400 176,600 (176,000)
Net realized capital gains 20,200 15,600 44,700 72,100
Change in allowance for credit losses on available for sale securities 100 3,400 2,200 (10,700)
Product and service revenues 996,800 722,700 2,564,800 1,678,700
Other operating expenses 889,800 666,800 2,352,800 1,634,200
Corporate administration (100) 800 (500) (900)
Amortization of intangible assets 12,600 11,200 36,500 32,900
Interest expense 10,600 10,100 31,500 31,700
(Losses) earnings before income taxes (49,200) 197,600 742,800 70,500
Operating Segments | Reinsurance Segment        
Segment Reporting Information [Line Items]        
Gross premiums written 1,728,200 1,378,000 4,812,900 3,859,400
Net premiums written 1,514,600 1,263,200 4,318,600 3,560,700
Net premiums earned 1,423,300 1,207,300 4,046,300 3,411,300
Net loss and LAE 1,230,800 859,300 2,923,500 2,499,800
Commissions, brokerage and other underwriting expenses 424,400 371,400 1,225,600 1,044,200
Underwriting (loss) profit [1] (231,900) (23,400) (102,800) (132,700)
Operating Segments | Reinsurance Segment | Property        
Segment Reporting Information [Line Items]        
Gross premiums written 617,200 473,300 1,687,900 1,299,200
Net premiums written 467,900 375,900 1,346,800 1,044,600
Net premiums earned 474,300 374,700 1,284,500 1,024,800
Net loss and LAE 611,200 306,100 1,208,400 827,400
Commissions, brokerage and other underwriting expenses 124,000 112,400 356,900 314,600
Underwriting (loss) profit [1] (260,900) (43,800) (280,800) (117,200)
Operating Segments | Reinsurance Segment | Casualty & Specialty        
Segment Reporting Information [Line Items]        
Gross premiums written [2] 1,111,000 904,700 3,125,000 2,560,200
Net premiums written [2] 1,046,700 887,300 2,971,800 2,516,100
Net premiums earned [2] 949,000 832,600 2,761,800 2,386,500
Net loss and LAE [2] 619,600 553,200 1,715,100 1,672,400
Commissions, brokerage and other underwriting expenses [2] 300,400 259,000 868,700 729,600
Underwriting (loss) profit [1],[2] 29,000 20,400 178,000 (15,500)
Operating Segments | Insurance Segment        
Segment Reporting Information [Line Items]        
Gross premiums written 661,500 522,600 1,865,600 1,549,800
Net premiums written 468,500 373,900 1,297,500 1,088,100
Net premiums earned 419,600 349,600 1,185,700 984,800
Net loss and LAE 283,100 314,400 789,700 725,700
Commissions, brokerage and other underwriting expenses 104,800 93,100 303,200 271,700
Underwriting (loss) profit [1] 31,700 (57,900) 92,800 (12,600)
Operating Segments | Insurance Segment | RSUI        
Segment Reporting Information [Line Items]        
Gross premiums written 533,100 410,800 1,511,500 1,251,300
Net premiums written 358,000 271,900 994,200 816,400
Net premiums earned 316,600 260,400 896,500 731,300
Net loss and LAE 219,500 256,600 614,500 568,500
Commissions, brokerage and other underwriting expenses 66,500 58,800 191,300 169,400
Underwriting (loss) profit [1] 30,600 (55,000) 90,700 (6,600)
Operating Segments | Insurance Segment | CapSpecialty Incorporated        
Segment Reporting Information [Line Items]        
Gross premiums written 128,400 111,800 354,100 298,500
Net premiums written 110,500 102,000 303,300 271,700
Net premiums earned 103,000 89,200 289,200 253,500
Net loss and LAE 63,600 57,800 175,200 157,200
Commissions, brokerage and other underwriting expenses 38,300 34,300 111,900 102,300
Underwriting (loss) profit [1] 1,100 (2,900) 2,100 (6,000)
Operating Segments | Reinsurance Segment and Insurance Segment        
Segment Reporting Information [Line Items]        
Gross premiums written 2,389,700 1,900,600 6,678,500 5,409,200
Net premiums written 1,983,100 1,637,100 5,616,100 4,648,800
Net premiums earned 1,842,900 1,556,900 5,232,000 4,396,100
Net loss and LAE 1,513,900 1,173,700 3,713,200 3,225,500
Commissions, brokerage and other underwriting expenses 529,200 464,500 1,528,800 1,315,900
Underwriting (loss) profit [1] 200,200 (81,300) (10,000) (145,300)
Net investment income 125,000 122,700 384,700 347,800
Change in the fair value of equity securities (78,300) 103,400 176,600 (176,000)
Net realized capital gains 20,700 1,700 44,000 36,800
Change in allowance for credit losses on available for sale securities 100 3,400 2,200 (10,700)
Product and service revenues 10,400 8,900 30,100 24,400
Other operating expenses 20,800 23,400 50,400 66,500
Corporate administration (100) 800 (500) (900)
Amortization of intangible assets 900 200 1,800 600
Interest expense 6,700 6,800 20,200 20,300
(Losses) earnings before income taxes (150,600) 127,600 555,700 (9,500)
Operating Segments | Alleghany Capital Corporation Segment        
Segment Reporting Information [Line Items]        
Gross premiums written 0 0 0 0
Net premiums written 0 0 0 0
Net premiums earned 0 0 0 0
Net loss and LAE 0 0 0 0
Commissions, brokerage and other underwriting expenses 0 0 0 0
Underwriting (loss) profit [1] 0 0 0 0
Net investment income 100 0 100 1,800
Change in the fair value of equity securities 0 0 0 0
Net realized capital gains (500) 13,900 700 35,300
Change in allowance for credit losses on available for sale securities 0 0 0 0
Product and service revenues 986,400 713,800 2,534,700 1,654,300
Other operating expenses 869,000 643,400 2,302,400 1,567,700
Corporate administration 0 0 0 0
Amortization of intangible assets 11,700 11,000 34,700 32,300
Interest expense 3,900 3,300 11,300 11,400
(Losses) earnings before income taxes 101,400 70,000 187,100 80,000
Corporate activities        
Segment Reporting Information [Line Items]        
Gross premiums written (11,700) (9,200) (30,200) (26,100)
Net premiums written 0 0 0 0
Net premiums earned 0 0 0 0
Net loss and LAE 0 0 0 0
Commissions, brokerage and other underwriting expenses 0 0 0 0
Underwriting (loss) profit [1] 0 0 0 0
Net investment income (7,900) 6,600 28,600 10,300
Change in the fair value of equity securities (57,800) (10,600) 4,000 (12,000)
Net realized capital gains (100) 1,100 1,300 (80,400)
Change in allowance for credit losses on available for sale securities 0 0 100 (200)
Product and service revenues 9,800 1,100 10,000 5,700
Other operating expenses 1,200 2,600 1,700 12,200
Corporate administration 6,300 12,100 36,400 18,000
Amortization of intangible assets 0 0 0 0
Interest expense 15,100 13,200 41,900 32,200
(Losses) earnings before income taxes $ (62,800) $ (29,700) $ (36,000) $ (139,000)
[1] Underwriting profit represents net premiums earned less net loss and LAE and commissions, brokerage and other underwriting expenses, all as determined in accordance with GAAP, and does not include net investment income, change in the fair value of equity securities, net realized capital gains, change in allowance for credit losses on available for sale securities, product and service revenues, other operating expenses, corporate administration, amortization of intangible assets or interest expense. Underwriting profit does not replace earnings before income taxes determined in accordance with GAAP as a measure of profitability. Rather, Alleghany believes that underwriting profit enhances the understanding of its reinsurance and insurance segments’ operating results by highlighting net earnings attributable to their underwriting performance. Earnings before income taxes (a GAAP measure) may show a profit despite an underlying underwriting loss. Where underwriting losses persist over extended periods, a reinsurance or an insurance company’s ability to continue as an ongoing concern may be at risk. Therefore, Alleghany views underwriting profit as an important measure in the overall evaluation of performance.
[2] Primarily consists of the following reinsurance lines of business: directors’ and officers’ liability; errors and omissions liability; general liability; medical malpractice; ocean marine and aviation; auto liability; accident and health; mortgage reinsurance; surety; and credit.