Alleghany Reports Fourth Quarter Earnings

Stockholders' equity per common share of Alleghany Corporation Y at December 31, 2010 was $331.81, an increase of 10.3% from stockholders' equity per common share of $300.69 at December 31, 2009, Weston M. Hicks, President and chief executive officer of Alleghany, announced today. Consolidated cash and invested assets were approximately $4.88 billion at December 31, 2010, compared with $4.45 billion at December 31, 2009. Alleghany's 2010 fourth quarter net earnings were $37.4 million, or $4.25 per common share , compared with net earnings of $130.9 million, or $14.43 per common share, in the fourth quarter of 2009. Alleghany's net earnings in 2010 were $198.5 million, or $22.29 per common share, compared with net earnings of $271.0 million, or $29.83 per common share, in 2009. Net earnings amounts include the following components: