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Results for Reportable Segments and Corporate Activities (Detail) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Segment Reporting Information [Line Items]    
Gross premiums written $ 2,050,400 $ 1,770,600
Net premiums written 1,754,800 1,533,700
Net premiums earned 1,604,763 1,444,420
Net loss and LAE 1,112,070 1,027,444
Commissions, brokerage and other underwriting expenses 476,036 441,396
Underwriting (loss) profit [1] 16,700 (24,400)
Net investment income 153,484 111,982
Change in the fair value of equity securities 112,728 (522,976)
Net realized capital gains 12,931 13,026
Change in allowance for credit losses on available for sale securities 1,972 (31,375)
Noninsurance revenue 767,835 467,849
Other operating expenses 723,889 466,661
Corporate administration 9,558 (14,307)
Amortization of intangible assets 11,478 9,568
Interest expense 23,752 18,356
Earnings (losses) before income taxes 296,930 (466,192)
Operating Segments    
Segment Reporting Information [Line Items]    
Gross premiums written 2,061,300 1,778,900
Net premiums written 1,754,800 1,533,700
Net premiums earned 1,604,800 1,444,400
Net loss and LAE 1,112,100 1,027,400
Commissions, brokerage and other underwriting expenses 476,000 441,400
Underwriting (loss) profit [1] 16,700 (24,400)
Net investment income 123,100 111,500
Change in the fair value of equity securities 85,300 (521,600)
Net realized capital gains 11,400 50,000
Change in allowance for credit losses on available for sale securities 1,900 (30,700)
Noninsurance revenue 767,700 464,700
Other operating expenses 723,600 460,600
Corporate administration (500) (2,000)
Amortization of intangible assets 11,500 9,600
Interest expense 10,600 10,500
Earnings (losses) before income taxes 260,900 (429,200)
Operating Segments | Reinsurance Segment    
Segment Reporting Information [Line Items]    
Gross premiums written 1,538,200 1,327,500
Net premiums written 1,394,900 1,211,000
Net premiums earned 1,229,900 1,133,100
Net loss and LAE 848,900 862,200
Commissions, brokerage and other underwriting expenses 376,000 349,800
Underwriting (loss) profit [1] 5,000 (78,900)
Operating Segments | Reinsurance Segment | Property    
Segment Reporting Information [Line Items]    
Gross premiums written 565,300 412,600
Net premiums written 459,000 312,900
Net premiums earned 371,300 321,400
Net loss and LAE 323,500 247,900
Commissions, brokerage and other underwriting expenses 109,200 105,400
Underwriting (loss) profit [1] (61,400) (31,900)
Operating Segments | Reinsurance Segment | Casualty & Other    
Segment Reporting Information [Line Items]    
Gross premiums written [2] 972,900 914,900
Net premiums written [2] 935,900 898,100
Net premiums earned [2] 858,600 811,700
Net loss and LAE [2] 525,400 614,300
Commissions, brokerage and other underwriting expenses [2] 266,800 244,400
Underwriting (loss) profit [1],[2] 66,400 (47,000)
Operating Segments | Insurance Segment    
Segment Reporting Information [Line Items]    
Gross premiums written 523,100 451,400
Net premiums written 359,900 322,700
Net premiums earned 374,900 311,300
Net loss and LAE 263,200 165,200
Commissions, brokerage and other underwriting expenses 100,000 91,600
Underwriting (loss) profit [1] 11,700 54,500
Operating Segments | Insurance Segment | RSUI    
Segment Reporting Information [Line Items]    
Gross premiums written 420,900 365,900
Net premiums written 272,500 244,500
Net premiums earned 283,600 229,400
Net loss and LAE 208,200 116,000
Commissions, brokerage and other underwriting expenses 64,100 57,800
Underwriting (loss) profit [1] 11,300 55,600
Operating Segments | Insurance Segment | CapSpecialty Incorporated    
Segment Reporting Information [Line Items]    
Gross premiums written 102,200 85,500
Net premiums written 87,400 78,200
Net premiums earned 91,300 81,900
Net loss and LAE 55,000 49,200
Commissions, brokerage and other underwriting expenses 35,900 33,800
Underwriting (loss) profit [1] 400 (1,100)
Operating Segments | Reinsurance Segment and Insurance Segment    
Segment Reporting Information [Line Items]    
Gross premiums written 2,061,300 1,778,900
Net premiums written 1,754,800 1,533,700
Net premiums earned 1,604,800 1,444,400
Net loss and LAE 1,112,100 1,027,400
Commissions, brokerage and other underwriting expenses 476,000 441,400
Underwriting (loss) profit [1] 16,700 (24,400)
Net investment income 123,100 109,700
Change in the fair value of equity securities 85,300 (521,600)
Net realized capital gains 10,500 45,100
Change in allowance for credit losses on available for sale securities 1,900 (30,700)
Noninsurance revenue 8,600 7,400
Other operating expenses 14,400 9,900
Corporate administration (500) (2,000)
Amortization of intangible assets 200 400
Interest expense 6,800 6,700
Earnings (losses) before income taxes 225,200 (429,500)
Operating Segments | Alleghany Capital Corporation Segment    
Segment Reporting Information [Line Items]    
Gross premiums written 0 0
Net premiums written 0 0
Net premiums earned 0 0
Net loss and LAE 0 0
Commissions, brokerage and other underwriting expenses 0 0
Underwriting (loss) profit [1] 0 0
Net investment income 0 1,800
Change in the fair value of equity securities 0 0
Net realized capital gains 900 4,900
Change in allowance for credit losses on available for sale securities 0 0
Noninsurance revenue 759,100 457,300
Other operating expenses 709,200 450,700
Corporate administration 0 0
Amortization of intangible assets 11,300 9,200
Interest expense 3,800 3,800
Earnings (losses) before income taxes 35,700 300
Corporate activities    
Segment Reporting Information [Line Items]    
Gross premiums written (10,900) (8,300)
Net premiums written 0 0
Net premiums earned 0 0
Net loss and LAE 0 0
Commissions, brokerage and other underwriting expenses 0 0
Underwriting (loss) profit [1] 0 0
Net investment income 30,400 500
Change in the fair value of equity securities 27,400 (1,400)
Net realized capital gains 1,500 (37,000)
Change in allowance for credit losses on available for sale securities 100 (700)
Noninsurance revenue 100 3,200
Other operating expenses 300 6,100
Corporate administration 10,100 (12,300)
Amortization of intangible assets 0 0
Interest expense 13,100 7,800
Earnings (losses) before income taxes $ 36,000 $ (37,000)
[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, noninsurance revenue, 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.