Alleghany 2021 Full Year Performance Highlights
Underwriting Performance – 4Q 2021
Reinsurance
Insurance
Property
Casualty &
Specialty
Total
RSUI
Cap
Specialty
Total
Total
Re/Insurance
Loss ratio
55.6%
62.8%
60.7%
57.2%
62.2%
58.3%
60.1%
Expense ratio
29.0%
30.6%
30.1%
20.9%
37.6%
24.8%
28.9%
Combined ratio
84.6%
93.4%
90.8%
78.1%
99.8%
83.1%
89.0%
Change vs the prior year
(31.7%)
(4.0%)
(12.1%)
(3.5%)
0.0%
(3.1%)
(9.9%)
Catastrophe activity & prior year
development:
Current year catastrophe losses
12.0%
(0.4%)
3.3%
1.0%
0.3%
0.9%
2.7%
Net (favorable) unfavorable
development in prior year loss
(4.1%)
(4.4%)
(4.3%)
3.8%
reserves
3.3%
3.7%
(2.5%)
Combined ratio excluding
catastrophe losses and prior
76.7%
98.2%
91.8%
73.3%
96.2%
78.5%
88.8%
year development
Change vs the prior year
(4.2%)
(2.5%)
(3.2%)
1.0%
(5.3%)
(1.2%)
(2.6%)
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