Alleghany Corp. Profit Falls 55% in Q4

Net income at Alleghany Corp. fell to $69.5 million in the fourth quarter, a 55% decrease from net income of $156 million in the prior-year quarter, the company reported on Wednesday. For the full year, Alleghany’s net income was $457 million, down 18% from $560 million in 2015. Net premiums written were down 3.3% for the quarter, to $1.2 billion, but up 13% for the full year, hitting $5.1 billion. Within the insurance segment, growth at Pacific Compensation Insurance Co., or PacificComp, and another Alleghany unit, CapSpecialty, helped offset a decline in net premiums written at RSUI...