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Consolidated Statements of Earnings and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues        
Net premiums earned $ 1,715,188 $ 1,784,351 $ 3,320,646 $ 3,389,114
Net investment income 105,452 126,931 218,928 280,415
Change in the fair value of equity securities (500,223) 203,902 (639,000) 316,630
Net realized capital gains 11,167 12,942 1,164 25,873
Change in allowance for credit losses on available for sale securities (7,595) 246 (8,177) 2,218
Product and service revenues 1,272,902 800,425 2,422,064 1,568,260
Total revenues 2,596,891 2,928,797 5,315,625 5,582,510
Costs and Expenses        
Net loss and loss adjustment expenses 1,039,127 1,087,206 1,980,914 2,199,276
Commissions, brokerage and other underwriting expenses 510,935 523,513 988,100 999,549
Other operating expenses 1,149,986 739,592 2,178,878 1,463,481
Corporate administration 17,278 20,148 28,001 29,706
Amortization of intangible assets 14,941 12,431 29,023 23,909
Interest expense 28,544 24,037 60,654 47,789
Total costs and expenses 2,760,811 2,406,927 5,265,570 4,763,710
(Losses) earnings before income taxes (163,920) 521,870 50,055 818,800
Income taxes (40,033) 102,281 5,049 161,148
Net (losses) earnings (123,887) 419,589 45,006 657,652
Net earnings attributable to noncontrolling interest 47,727 15,938 90,939 23,960
Net (losses) earnings attributable to Alleghany stockholders (171,614) 403,651 (45,933) 633,692
Net earnings (123,887) 419,589 45,006 657,652
Other comprehensive income (loss):        
Change in unrealized gains, net of deferred taxes (471,401) 91,560 (1,085,652) (126,375)
Change in unrealized currency translation adjustment, net of deferred taxes (25,707) (2,249) (26,230) 213
Retirement plans 109 113 239 (852)
Comprehensive (loss) income (623,708) 498,594 (1,061,097) 508,446
Comprehensive income attributable to noncontrolling interests 47,727 15,938 90,939 23,960
Comprehensive (loss) income attributable to Alleghany stockholders $ (671,435) $ 482,656 $ (1,152,036) $ 484,486
Basic (losses) earnings per share attributable to Alleghany stockholders $ (12.75) $ 29.00 $ (3.41) $ 45.41
Diluted (losses) earnings per share attributable to Alleghany stockholders $ (12.75) $ 29.00 $ (3.41) $ 45.41
Accumulated Net Unrealized Investment Gain Loss        
Other comprehensive income (loss):        
Less: reclassification for net realized capital gains and change in allowance for credit losses on available for sale securities, net of taxes $ (2,822) $ (10,419) $ 5,540 $ (22,192)