Alleghany — Investor Presentation (February 2014)
10 slides from Alleghany's investor presentation, Feb 12, 2014
Slide 1: Long Track Record of Stable Leadership
Long Track Record of Stable Leadership Otis & Mantis Van Sweringen (founders) Robert Young (1937-1958) – 21 years Allan Kirby (1958-1967) – 9 years F.M. Kirby (1967-1992) – 25 years John J. Burns, Jr. (1992-2004) – 12 years Weston M. Hicks (2004-)
Slide 2: Major Insurance Transactions
Major Insurance Transactions (2012) (2007) (2006-2013) (2003-2008) (2003) (2002)
Slide 3: Alleghany Transformed: 2002-2013
Alleghany Transformed: 2002-2013 2002 Change Capitol Companies $ 0.2 $ 0.3 $ 0.1 TransRe - 4.4 4.4 RSUI - 1.6 1.6 Other 0.3 0.2 (0.1) Operating subsidiaries $ 0.5 $ 6.5 $ 6.0 Parent investments $ 1.0 $ 0.9 $ (0.1) Parent debt, other (0.1) (0.7) (0.6) Parent, net $ 0.9 $ 0.2 $ (0.7) Stockholders’ equ
Slide 4: Minimal Goodwill & Intangibles as % of Stockholders' Equity
Minimal Goodwill & Intangibles As % of Stockholders’ Equity (9/30/13)
Slide 5: RSUI's Combined Ratio
RSUI’s Combined Ratio 60% 86% 122% 71% 69% 80% 70% 73% 82% 99% 80%
Slide 6: World Class Outside Managers
World Class Outside Managers Manages fixed income securities for RSUI, Capitol, and PacificComp Manages fixed income securities for TransRe $ 1 billion allocation to CLOs, High Yield, and other credit strategies
Slide 7: Largest Positions
Largest Positions As of December 31, 2013
Slide 8: ACC Major Investments
ACC Major Investments Developing first oil recovery project in Fredonia, Kansas Successful year in 2013, with results in line with acquisition expectations Now 80% owned following 1/14 completion of 2-stage transaction Two major oil companies are developing subsalt exploration plays
Slide 9: Rolling 5-Year Cumulative Returns
Rolling 5-Year Cumulative Returns Y Book Value “beta” = 0.24
Slide 10: Returns with Less Risk
S&P 500 Returns with Less Risk 8.5 % 7.4% 7.7% Annualized returns; 2003=100