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): November 17, 2016
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.) |
1411 Broadway, 34th Floor, New York, New York | 10018 | |||
(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 November 17, 2016, Alleghany Corporation issued a press release announcing its preliminary estimate of losses related to Hurricane Matthew. 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 November 17, 2016 |
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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: November 17, 2016 | By: | /s/ John L. Sennott, Jr. | ||||||
Name: | John L. Sennott, Jr. | |||||||
Title: | Senior Vice President and chief financial officer |
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INDEX TO EXHIBITS
Exhibit Number |
Description | |
99.1 | Press release of Alleghany Corporation, dated November 17, 2016 |
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Exhibit 99.1
ALLEGHANY CORPORATION
1411 Broadway, 34th Floor
New York, NY 10018
ALLEGHANY CORPORATION ANNOUNCES PRELIMINARY
HURRICANE MATTHEW LOSS ESTIMATE
NEW YORK, NY, November 17, 2016 Alleghany Corporation (NYSE-Y) today announced that its consolidated pre-tax loss related to Hurricane Matthew, net of reinsurance and reinstatement premiums, is estimated to be less than $75 million. Alleghanys preliminary loss estimate is comprised of losses from its Transatlantic Holdings, Inc. and RSUI Group, Inc. subsidiaries, with each contributing approximately equally to the loss.
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, industry loss estimates and other factors requiring considerable judgment.
The ultimate amount of Alleghanys actual losses associated with Hurricane Matthew may be different from this preliminary estimate due to the preliminary nature of the information available to prepare the estimate.
Losses related to Hurricane Matthew will be reflected in Alleghanys fourth quarter 2016 results.
About Alleghany Corporation
Alleghany Corporation (NYSE-Y) creates value through owning and managing 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 reinsurer; RSUI Group, Inc., a national underwriter of property and liability specialty insurance coverages; CapSpecialty, Inc., an underwriter of commercial property, casualty and surety insurance coverages; and Pacific Compensation Corporation, an underwriter of workers compensation insurance, primarily in California. Alleghanys subsidiary Alleghany Capital Corporation engages in and oversees strategic investments and acquisitions.
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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:
Kerry Jacobs
Alleghany Corporation
212-508-8141