UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 18, 2012
ALLEGHANY CORPORATION
(Exact name of registrant as specified in its charter)
Delaware | 1-9371 | 51-0283071 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
7 Times Square Tower, 17th Floor, New York, New York | 10036 | |||
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (212) 752-1356
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01 | Regulation FD Disclosure. |
On December 18, 2012, Alleghany Corporation issued a press release announcing its preliminary estimate of losses related to Storm Sandy. A copy of such release is furnished herewith as Exhibit 99.1. The information hereunder shall not be deemed to be filed for the purposes of Section 18 of the Securities Exchange Act of 1934 (the Exchange Act) or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into a filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
99.1 | Press release of Alleghany Corporation, dated December 18, 2012 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ALLEGHANY CORPORATION | ||||
Date: December 18, 2012 | By: | /s/ Roger B. Gorham | ||
Name: | Roger B. Gorham | |||
Title: | Senior Vice President and chief financial officer |
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Index to Exhibits
Exhibit |
Description | |
99.1 | Press release of Alleghany Corporation, dated December 18, 2012 |
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Exhibit 99.1
ALLEGHANY CORPORATION
7 Times Square Tower, 17th Floor
New York, NY 10036
ALLEGHANY CORPORATION ANNOUNCES ITS PRELIMINARY SANDY LOSS ESTIMATE
NEW YORK, NY, December 18, 2012 Alleghany Corporation (NYSE-Y) (Alleghany) today announced a preliminary estimate of its consolidated after-tax loss related to Sandy, net of reinsurance and reinstatement premiums, of approximately $288 million. This estimate reflects a consolidated pre-tax loss estimate, net of reinsurance and reinstatement premiums, of approximately $443 million, comprising $265 million from Transatlantic Holdings, Inc., $165 million from RSUI Group, Inc., and $13 million from Alleghanys Homesite Group Incorporated investment.
Alleghanys preliminary loss estimate is based upon an analysis of reported claims, an underwriting review of in-force contracts, estimates of losses resulting from wind and other perils, including storm surge and flooding to the extent covered by applicable policies, and other factors requiring considerable judgment.
The ultimate amount of Alleghanys actual losses associated with Sandy may be materially different from this preliminary estimate due to the size and complexity of the event and the preliminary nature of the information available to prepare the estimate.
Losses related to Sandy will be reflected in Alleghanys fourth quarter 2012 results, and any subsequent changes will be recorded in the period in which they occur.
About Alleghany Corporation
Alleghany Corporation (NYSE-Y) creates stockholder value through the ownership and management of operating subsidiaries and investments, anchored by a core position in property and casualty reinsurance and insurance. Alleghanys property and casualty subsidiaries include: Transatlantic Holdings, Inc., a leading global reinsurance organization headquartered in New York; RSUI Group, Inc., a national underwriter of specialty property and liability insurance coverages; Capitol Transamerica Corporation, an underwriter of specialty property, casualty and surety insurance coverages; and Pacific Compensation Corporation, an underwriter of workers compensation insurance primarily in California.
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Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical facts but instead represent only Alleghanys belief regarding future events, many of which, by their nature, are inherently uncertain and outside Alleghanys control. Except for Alleghanys ongoing obligation to disclose material information as required by federal securities laws, Alleghany is not under any obligation (and expressly disclaims any obligation) to update or alter any projections, goals, assumptions, or other statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events or otherwise. Factors that could cause these forward-looking statements to differ, possibly materially, from that currently contemplated include the factors set forth in Alleghanys most recent Annual
Report on Form 10-K and Quarterly Report on Form 10-Q filed with the United States Securities and Exchange Commission.
For more information, please contact:
Jeff Majtyka/Mike Smargiassi
Brainerd Communicators, Inc.
212-986-6667
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