PacificComp Growth Continues, but Alleghany Profit Slips in Q1

Alleghany Corp. has reported net income of $149 million for the first quarter, a 3.4% decrease from $154 million in the prior-year quarter. In the insurance segment, net premiums written were $284 million in the first quarter, up 6.5% from the first three months of 2016. The company attributed the increase in part to growth at Pacific Compensation Insurance Co., or PacificComp, a provider of work comp coverage to California businesses. For the company overall, net premiums written were down 6.7% in the first quarter, to $1.23 billion. The insurance segment’s 2017 first quarter combine...