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Results for Reportable Segments and Corporate Activities (Detail) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Segment Reporting Information [Line Items]        
Gross premiums written $ 2,238,000 $ 2,219,900 $ 4,385,000 $ 4,270,200
Net premiums written 1,830,000 1,878,200 3,622,800 3,633,000
Net premiums earned 1,715,188 1,784,351 3,320,646 3,389,114
Net loss and LAE 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
Underwriting profit (loss) [1] 165,200 173,700 351,600 190,300
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
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
(Losses) earnings before income taxes (163,920) 521,870 50,055 818,800
Operating Segments        
Segment Reporting Information [Line Items]        
Gross premiums written 2,247,800 2,227,500 4,405,700 4,288,800
Net premiums written 1,830,000 1,878,200 3,622,800 3,633,000
Net premiums earned 1,715,200 1,784,400 3,320,600 3,389,100
Net loss and LAE 1,039,100 1,087,200 1,980,900 2,199,300
Commissions, brokerage and other underwriting expenses 510,900 523,500 988,100 999,500
Underwriting profit (loss) [1] 165,200 173,700 351,600 190,300
Net investment income 117,700 136,600 226,100 259,700
Change in the fair value of equity securities (405,100) 169,500 (559,200) 254,800
Net realized capital gains 11,100 13,000 1,300 24,500
Change in allowance for credit losses on available for sale securities (7,600) 200 (8,200) 2,100
Product and service revenues 1,268,900 800,300 2,398,300 1,568,100
Other operating expenses 1,149,500 739,200 2,176,300 1,462,900
Corporate administration 0 400 0 (200)
Amortization of intangible assets 14,900 12,400 29,000 23,900
Interest expense 12,000 10,400 24,500 20,900
(Losses) earnings before income taxes (26,200) 530,900 180,100 792,000
Operating Segments | Reinsurance Segment        
Segment Reporting Information [Line Items]        
Gross premiums written 1,429,400 1,546,500 2,957,700 3,084,700
Net premiums written 1,280,300 1,409,100 2,638,300 2,804,000
Net premiums earned 1,259,100 1,393,200 2,421,900 2,623,000
Net loss and LAE 773,600 843,700 1,496,600 1,692,700
Commissions, brokerage and other underwriting expenses 397,100 425,300 765,400 801,200
Underwriting profit (loss) [1] 88,400 124,200 159,900 129,100
Operating Segments | Reinsurance Segment | Property        
Segment Reporting Information [Line Items]        
Gross premiums written 380,300 505,400 834,700 1,070,700
Net premiums written 286,400 419,900 633,000 878,900
Net premiums earned 305,800 438,900 597,300 810,200
Net loss and LAE 177,400 273,700 339,500 597,200
Commissions, brokerage and other underwriting expenses 92,200 123,700 178,900 232,900
Underwriting profit (loss) [1] 36,200 41,500 78,900 (19,900)
Operating Segments | Reinsurance Segment | Casualty & Specialty        
Segment Reporting Information [Line Items]        
Gross premiums written [2] 1,049,100 1,041,100 2,123,000 2,014,000
Net premiums written [2] 993,900 989,200 2,005,300 1,925,100
Net premiums earned [2] 953,300 954,300 1,824,600 1,812,800
Net loss and LAE [2] 596,200 570,000 1,157,100 1,095,500
Commissions, brokerage and other underwriting expenses [2] 304,900 301,600 586,500 568,300
Underwriting profit (loss) [1],[2] 52,200 82,700 81,000 149,000
Operating Segments | Insurance Segment        
Segment Reporting Information [Line Items]        
Gross premiums written 818,400 681,000 1,448,000 1,204,100
Net premiums written 549,700 469,100 984,500 829,000
Net premiums earned 456,100 391,200 898,700 766,100
Net loss and LAE 265,500 243,500 484,300 506,600
Commissions, brokerage and other underwriting expenses 113,800 98,200 222,700 198,300
Underwriting profit (loss) [1] 76,800 49,500 191,700 61,200
Operating Segments | Insurance Segment | RSUI        
Segment Reporting Information [Line Items]        
Gross premiums written 686,800 557,600 1,204,300 978,400
Net premiums written 441,800 363,700 783,800 636,200
Net premiums earned 360,400 296,300 706,800 579,900
Net loss and LAE 202,400 186,900 361,800 395,100
Commissions, brokerage and other underwriting expenses 76,300 60,600 148,500 124,700
Underwriting profit (loss) [1] 81,700 48,800 196,500 60,100
Operating Segments | Insurance Segment | CapSpecialty Incorporated        
Segment Reporting Information [Line Items]        
Gross premiums written 131,600 123,400 243,700 225,700
Net premiums written 107,900 105,400 200,700 192,800
Net premiums earned 95,700 94,900 191,900 186,200
Net loss and LAE 63,100 56,600 122,500 111,500
Commissions, brokerage and other underwriting expenses 37,500 37,600 74,200 73,600
Underwriting profit (loss) [1] (4,900) 700 (4,800) 1,100
Operating Segments | Reinsurance Segment and Insurance Segment        
Segment Reporting Information [Line Items]        
Gross premiums written 2,247,800 2,227,500 4,405,700 4,288,800
Net premiums written 1,830,000 1,878,200 3,622,800 3,633,000
Net premiums earned 1,715,200 1,784,400 3,320,600 3,389,100
Net loss and LAE 1,039,100 1,087,200 1,980,900 2,199,300
Commissions, brokerage and other underwriting expenses 510,900 523,500 988,100 999,500
Underwriting profit (loss) [1] 165,200 173,700 351,600 190,300
Net investment income 117,800 136,600 226,100 259,700
Change in the fair value of equity securities (405,100) 169,500 (559,200) 254,800
Net realized capital gains 3,000 12,800 (12,900) 23,300
Change in allowance for credit losses on available for sale securities (7,600) 200 (8,200) 2,100
Product and service revenues 6,600 11,100 14,700 19,700
Other operating expenses 11,100 15,100 24,600 29,500
Corporate administration 0 400 0 (200)
Amortization of intangible assets 300 800 700 1,000
Interest expense 6,700 6,700 13,500 13,400
(Losses) earnings before income taxes (138,200) 480,900 (26,700) 706,200
Operating Segments | Alleghany Capital Corporation Segment        
Segment Reporting Information [Line Items]        
Gross premiums written 0 0 0 0
Net premiums written 0 0 0 0
Net premiums earned 0 0 0 0
Net loss and LAE 0 0 0 0
Commissions, brokerage and other underwriting expenses 0 0 0 0
Underwriting profit (loss) [1] 0 0 0 0
Net investment income (100) 0 0 0
Change in the fair value of equity securities 0 0 0 0
Net realized capital gains 8,100 200 14,200 1,200
Change in allowance for credit losses on available for sale securities 0 0 0 0
Product and service revenues 1,262,300 789,200 2,383,600 1,548,400
Other operating expenses 1,138,400 724,100 2,151,700 1,433,400
Corporate administration 0 0 0 0
Amortization of intangible assets 14,600 11,600 28,300 22,900
Interest expense 5,300 3,700 11,000 7,500
(Losses) earnings before income taxes 112,000 50,000 206,800 85,800
Corporate activities        
Segment Reporting Information [Line Items]        
Gross premiums written (9,800) (7,600) (20,700) (18,600)
Net premiums written 0 0 0 0
Net premiums earned 0 0 0 0
Net loss and LAE 0 0 0 0
Commissions, brokerage and other underwriting expenses 0 0 0 0
Underwriting profit (loss) [1] 0 0 0 0
Net investment income (12,200) (9,700) (7,200) 20,700
Change in the fair value of equity securities (95,100) 34,400 (79,800) 61,800
Net realized capital gains 0 (100) (100) 1,400
Change in allowance for credit losses on available for sale securities 0 0 0 100
Product and service revenues 4,000 100 23,800 200
Other operating expenses 600 300 2,500 600
Corporate administration 17,300 19,800 28,000 29,900
Amortization of intangible assets 0 0 0 0
Interest expense 16,500 13,600 36,200 26,900
(Losses) earnings before income taxes $ (137,700) $ (9,000) $ (130,000) $ 26,800
[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, product and service revenues, 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.