Alleghany reported an underwriting loss after its reinsurance segment took a $153mn charge tied to Covid-19-related losses. Underlying margins at TransRe and RSUI improved overall.
The New Jersey-based carrier lowered full-year 2020 guidance on both underwriting and net investment income based on expectations of top-line and alternative investment income pressures.
Tuesday’s call included an interesting shift in tone from AIG CEO Brian Duperreault, who suggested the company would “continue to look at” the possibility of a break-up of P&C and life.
