Key Developments: Alleghany Corp (Y)

Y on New York Consolidated

409.17USD
17 Apr 2014
Price Change (% chg)

$-0.11 (-0.03%)
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Latest Key Developments (Source: Significant Developments)

A.M. Best Upgrades Ratings of Alleghany Corporation's RSUI Indemnity Company and Its subsidiaries
Wednesday, 2 Apr 2014 03:45pm EDT 

Alleghany Corporation:A.M. Best has upgraded financial strength rating (FSR) to A+ (Superior) from A (Excellent) and issuer credit rating (ICR) to 'aa-' from 'a+' of RSUI Indemnity Company.Reinsured subsidiaries, Landmark American Insurance Company and Covington Specialty Insurance Company, collectively referred to as the RSUI Group (RSUI).Outlook for ratings has been revised to stable from positive.  Full Article

Alleghany Corp Announce Strategic Partnership
Wednesday, 31 Jul 2013 09:11am EDT 

Ares Management LLC and Alleghany Corp announced a new strategic partnership. Alleghany invested $250 million for a 6.25% equity ownership interest in Ares, which is privately held, and also committed to invest up to $1 billion of capital in various existing and new Ares investment strategies.  Full Article

Alleghany Corp Announces CFO Change-Form 8-K
Monday, 15 Apr 2013 05:02pm EDT 

Alleghany Corp reported in its Form 8-K that on April 15, 2013, the Board of Directors (Board) of Alleghany Corporation (Company) appointed John L. Sennott, Jr. to serve as Senior Vice President of the Company, effective April 16, 2013, and Chief Financial Officer (CFO) of the Company, effective May 8, 2013. Mr. Sennott will succeed Roger B. Gorham, who will assume overall responsibility for the Company’s fixed income portfolio as previously reported in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on January 22, 2013.  Full Article

Alleghany Corp Announces Management Role Change
Tuesday, 22 Jan 2013 04:27pm EST 

Alleghany Corp announced that it will expand its executive leadership team by separating the role of Chief Financial Officer(CFO) from management of Alleghany's approximately $16 billion fixed income portfolio. Accordingly, Roger B. Gorham will assume overall responsibility for Alleghany's fixed income portfolio and will no longer serve as CFO once a successor is identified. Alleghany plans to retain an executive search firm to assist in identifying a new CFO. Mr. Gorham will serve as Alleghany's Senior Vice President and acting CFO until a successor is identified, at which time Mr. Gorham will be named as Senior Vice President - Head of Fixed Income and Treasurer.  Full Article

Alleghany Corporation Pricing Of $400 Million Of 4.95% Senior Notes Due 2022
Thursday, 21 Jun 2012 05:54pm EDT 

Alleghany Corporation announced that it has set the price for the public offering of $400 million of its 4.95% Senior Notes due June 27, 2022 (the Senior Notes). Alleghany currently expects to use the net proceeds from the sale of its Senior Notes for general corporate purposes, including, but not limited to, acquisitions, additions to working capital, capital expenditures, investments, contributions of capital to its subsidiaries and repayment of debt. Morgan Stanley, US Bancorp and Wells Fargo Securities are acting as joint book-running managers for the Senior Notes offering.  Full Article

Alleghany Corporation Announces Commencement Of Senior Notes Public Offering-DJ
Thursday, 21 Jun 2012 09:28am EDT 

Dow Jones reported that Alleghany Corporation has commenced a public offering of its Senior Notes due 2022 (the Senior Notes). Alleghany expects to use the net proceeds from the sale of its Senior Notes for general corporate purposes, including, but not limited to, acquisitions, additions to working capital, capital expenditures, investments, contributions of capital to its subsidiaries and repayment of debt. Morgan Stanley, US Bancorp and Wells Fargo Securities are acting as joint book-running managers for the Senior Notes offering  Full Article

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