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{{Redirect|Allegheny Corporation|the specialty metals company|Allegheny Technologies}}
{{more citations needed|date=September 2009}}
{{Infobox company
| name = Alleghany Corporation
| logo = AlleghanyCorporation logo.PNG
| logo_size = 220px
| type = [[Public company|Public]]
| traded_as = {{nyse|Y}} [[S&P 400|S&P 400 Component]]
| foundation = 1929
| founder = [[Van Sweringen brothers|Oris and Mantis Van Sweringen]]
| location = [[Times Square Tower]] [[New York City]] [[United States]]
| key_people = {{ubl|{{nowrap|[[Weston M. Hicks]]}}|{{nowrap|([[President (corporate title)|President]] & [[CEO]])<ref name="10-K 2016"/>}}|
{{nowrap|Jefferson W. Kirby}}|{{nowrap|([[Chairman#Public corporations|Chairman of the Board]])<ref name="10-K 2016"/>}}}}
| area_served =
| industry = Holding company
| products =
| revenue = {{nowrap|{{increase}} [[US$]] 6.13 billion (2016)<ref name="10-K 2016">{{cite web|url=https://www.sec.gov/Archives/edgar/data/775368/000119312517052180/d308070d10k.htm|title=US SEC: Form 10-K Alleghany Corporation|publisher=[[United States Securities and Exchange Commission]]|accessdate=January 18, 2018}}</ref>}}
| operating_income = {{nowrap|{{decrease}} [[US$]] 729.40 million (2016)<ref name="10-K 2016"/>}}
| net_income = {{nowrap|{{decrease}} [[US$]] 460.66 million (2016)<ref name="10-K 2016"/>}}
| assets = {{nowrap|{{increase}} [[US$]] 23.76 billion (2016)<ref name="10-K 2016"/>}}
| equity = {{nowrap|{{increase}} [[US$]] 7.94 billion (2016)<ref name="10-K 2016"/>}}
| num_employees = {{nowrap|3,420 (2016)<ref name="10-K 2016"/>}}
| subsid =
| homepage = [http://www.alleghany.com www.alleghany.com]
}}

'''Alleghany Corporation''' is an investment holding company originally created by the [[railroad]] entrepreneurs [[Van Sweringen brothers|Oris and Mantis Van Sweringen]] as a holding company for their railroad interests. It was incorporated in 1929<ref>{{cite web | url = http://ech.cwru.edu/ech-cgi/article.pl?id=AC3 | title = Alleghany Corp. | date = 1997-07-10 | work = Encyclopedia of Cleveland History | publisher = [[Case Western Reserve University]] | location = [[Cleveland, Ohio]] | accessdate = 2009-09-19}}</ref> and [[incorporated in Delaware|reincorporated in Delaware]] in 1984.<ref>{{cite web | url = http://www.alleghany.com/CorporateGovernance/Articles.aspx | title = Articles of Incorporation | date = 1986-12-22 | publisher = Alleghany Corporation | location = [[New York City]] | accessdate = 2009-09-19 | archive-url = https://web.archive.org/web/20090412091042/http://alleghany.com/CorporateGovernance/Articles.aspx | archive-date = 2009-04-12 | dead-url = yes | df = }}</ref>

After the company's bankruptcy in the [[Great Depression]], control of the company fell into the hands of [[Robert Ralph Young]] and [[Allan Price Kirby]]. Young used the company as a vehicle for his vendetta against the [[J.P. Morgan]] banking interests, who had financed the Van Sweringens and managed to defeat them and the [[Vanderbilt family|Vanderbilt]] interests in a 1954 [[proxy fight]] for the [[New York Central Railroad]]. The failing New York Central was in worse shape than Young had bargained for and he committed suicide shortly after being forced to suspend the dividend in January 1958. After Young's death, his role in NYC management was assumed by his protégé [[Alfred E. Perlman]]. Although much had been accomplished to streamline NYC operations, in those tough economic times, mergers with other railroads were seen as the only possible road to financial stability. The most likely suitor became the NYC's former arch-rival [[Pennsylvania Railroad]]. During the early 1960s, New York Central negotiated a merger with the Pennsylvania Railroad (PRR), which was led by [[Stuart T. Saunders]] after 1963. Saunders had most recently led the [[Norfolk and Western Railway]] through a successful expansion through acquisition and mergers including the [[Virginian Railway]], [[Nickel Plate Road]] and [[Wabash Railway]]. There was great hope that success would result from the NYC-PRR combination. [[Penn Central Transportation Company]] was formed by the merger on February 1, 1968. However, the underlying financial weakness of both former railroads, combined with the fact that the [[Interstate Commerce Commission|ICC]] forced the chronically weak [[New Haven Railroad]] into the system, doomed the Penn Central and bankruptcy was declared shortly a little over 2 years later, on June 21, 1970. Many of the Penn Central railroad assets ended up in [[Conrail]], formed in 1976. The bankruptcy of the [[Penn Central]] railroad mostly ended Alleghany's involvement in the railroad business.

The company's residual railroad investments led to president and [[CEO]] [[John J. Burns]] serving on the board of [[Burlington Northern Santa Fe Corporation]] from 1995 to 2004.

Now Alleghany Corporation focuses on the insurance business (property, casualty, surety and fidelity insurance). Until his death in February 2011, Allan Kirby's son, Fred M. Kirby 2nd, was the chairman of the board and a sometime member of the [[Forbes 400]] list of richest Americans.

==Current portfolio==
Alleghany's current portfolio includes:<ref>{{Cite web |url=http://www.alleghany.com/acquisitions-investments/current-past-investments/ |title=Alleghany Current and Previous Acquisitions & Investments |access-date=2012-07-13 |archive-url=https://web.archive.org/web/20120705102757/http://www.alleghany.com/acquisitions-investments/current-past-investments/ |archive-date=2012-07-05 |dead-url=yes |df= }}</ref>
*Transatlantic Re, a reinsurer acquired in 2011<ref>[https://dealbook.nytimes.com/2011/11/21/transatlantic-said-near-sale-to-allegheny/ Alleghany to Buy Transatlantic for $3.4 Billion]</ref>
*RSUI, an insurer acquired in 2003<ref>[http://www.insurancejournal.com/news/international/2003/07/02/30345.htm Alleghany Completes Acquisition of R&SA’s RSUI]</ref>
*Capitol Insurance Companies, an insurer acquired in 2002<ref>[http://www.insurancejournal.com/news/midwest/2002/01/09/16328.htm Capitol Transamerica Acquired by Alleghany]</ref>
*PacificComp, an insurer acquired in 2007<ref>[http://www.insurancejournal.com/news/national/2007/05/01/79169.htm Alleghany Buying Calif. Workers’ Comp Specialist Employers Direct]</ref><ref>[http://www.insurancejournal.com/news/west/2010/04/28/109338.htm Employers Direct Relaunched as PacificComp to Work With Independent Agents]</ref>
*Alleghany Properties, a property company

==References==
{{reflist}}

==External links==
*[http://www.alleghany.com/ Alleghany Corporation] — official homepage

[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Holding companies established in 1929]]
[[Category:Holding companies based in New York City]]
[[Category:Insurance companies based in New York City]]
[[Category:Investment companies based in New York City]]
[[Category:Publicly traded companies based in New York City]]
[[Category:United States railroad holding companies]]

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