Alleghany 2021 Full Year Performance Highlights
Modest Financial Leverage and Conservative Risk Profile
Debt to Capital
Holding Company Liquidity(1)
■Other Debt (ACC)
■Senior Notes
(millions)
23.1%
19.2%
17.5%
$1,687
$1,383
$1,283
$1,122
$1,124
16.3%
14.7%
2017
2018
2019
2020
2021
2017
Peak Zone PML(2) / Shareholders' Equity(3)
2018
2019
2020
2021
Risk Assets(4) / Shareholders' Equity(3)
8.0 %
7.6%
0.58 x
6.3%
7.0%
0.53 X
0.39 x
0.39 x
2018
2019
2020
2021
2018
2019
2020
2021
(1) Holding company liquidity comprised of marketable securities and cash.
(2) Reflects net occurrence probable maximum loss ("PML") (after-tax) in a 1-in-250 year event (having a likelihood of being exceeded in any single year of 0.4 percent) for largest single zone peril
(e.g. Northeast U.S. Wind for 4Q '21).
Attributable to Alleghany shareholders.
བྱས་ཆུ་
(3)
(4) Risk assets are defined as high yield bonds, below investment grade collateralized loan obligations and bank loans, publicly traded equity securities, private equity and partnership interests.
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