Y - Alleghany says Berkshire Hathaway's General Re won't renew underwriting pact

Alleghany Corp. ([[Y]] +0.1%) discloses that Berkshire Hathaway's ([[BRK.B]] -0.2%) ([[BRK.A]] +0.3%) General Re subsidiary won't extend its underwriting agreement with Alleghany's Transatlantic Reinsurance unit.In July 2016, Transatlantic Re and General Re entered into a five-year agreement in which Transatlantic acted as exclusive underwriting manager on behalf of Gen Re for U.S. and Canadian property and casualty treaty reinsurance business produced by brokers and intermediaries.Allgeghany said non-renewal won't have a material impact on its operating results and financial condition.In May, Alleghany Corp. allocates excess capital to Alleghany Capital subsidiary

For further details see:

Alleghany says Berkshire Hathaway's General Re won't renew underwriting pact