Alleghany Profit Rises

(RTTNews) - Insurer Alleghany Corp (Y) on Tuesday reported second-quarter net earnings of $182.5 million or $11.40 per share compared with $149 million or $9.06 per share last year.

Excluding items, operating earnings for the quarter were $8.19 per share compared with $7.46 per share a year ago.

Analysts polled by Thomson Reuters estimated earnings of $7.53 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were $1.3 billion compared with $1.29 million in the prior year.

Net premiums earnings edged down to $1.07 billion from $1.1 billion a year ago.

Analysts estimated revenues of $1.13 billion for the quarter.

Results were driven by strong underwriting results at TransRe and RSUI," said CEO Weston Hicks.