Summary of Investments - Other Than Investments in Related Parties

12 Months Ended

Dec. 31, 2013

Summary of Investments - Other Than Investments in Related Parties

Schedule I – Summary of Investments – Other Than Investments in Related Parties

ALLEGHANY CORPORATION AND SUBSIDIARIES

December 31, 2013


Type of Investment	Cost		Fair Value		Amount at which shown in the Balance Sheet
	( in millions)
Fixed maturities:
Bonds:
U.S. Government obligations	$	982.1	$	955.0	$	955.0
Municipal bonds		5,650.5		5,590.1		5,590.1
Foreign government obligations		979.3		975.4		975.4
U.S. corporate bonds		2,307.2		2,312.9		2,312.9
Foreign corporate bonds		1,810.6		1,831.7		1,831.7
Mortgage and asset-backed securities:
RMBS		1,559.5		1,547.8		1,547.8
CMBS		881.6		885.6		885.6
Other asset-backed securities		705.0		704.4		704.4

Fixed maturities		14,875.8		14,802.9		14,802.9

Equity securities:
Common stocks:
Public utilities		—		—		—
Banks, trust and insurance companies		56.7		72.2		72.2
Industrial, miscellaneous and all other		1,748.0		2,157.2		2,157.2
Nonredeemable preferred stocks		—		—		—

Equity securities		1,804.7		2,229.4		2,229.4

Other invested assets		641.9		641.9		641.9
Short-term investments		1,317.9		1,317.9		1,317.9

Total investments	$	18,640.3	$	18,992.1	$	18,992.1

- Definition

The entire disclosure for the schedule applicable to insurance companies summarizing investments held as of the most recent audited balance sheet. At a minimum, such summary is by three major categories of investments including: (1) fixed maturities primarily consisting of bonds, including convertibles and bonds with warrants, and redeemable preferred stocks, (2) equity securities primarily consisting of common stocks and nonredeemable preferred stocks, and (3) other investments including mortgage loans on real estate, real estate held for investment, real estate acquired in satisfaction of debt, policy loans, other long-term investments, and short-term investments not otherwise categorized. The information provided with respect to each item within each category includes: (A) the original cost of equity securities and, as to fixed maturity securities, original cost reduced by repayments and adjusted for amortization of premiums or accrual of discounts, (B) fair value as of the reporting date, and (C) the amount at which the item within each category is shown in the statement of financial position; with respect to (C), if the amount at which shown in the statement of financial position is different from the items original [amortized] cost or fair value, an explanation of the difference may be included herein.

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