<ARTICLE> 7
<LEGEND>
These schedules contain summary financial information extracted from Alleghany
Corporation and subsidiaries Consolidated Balance Sheet for the period September
30, 1994 and the Consolidated Statements of Earnings for the nine months then
ended and is qualified in its entirety by reference to such statements.
</LEGEND>
<CIK> 0000775368
<NAME> ALLEGHANY CORPORATION
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   QTR-3
<FISCAL-YEAR-END>                          DEC-31-1994
<PERIOD-START>                             JAN-01-1994
<PERIOD-END>                               SEP-30-1994
<DEBT-HELD-FOR-SALE>                         1,295,170
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                     248,634
<MORTGAGE>                                           0
<REAL-ESTATE>                                        0
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<CASH>                                          35,799
<RECOVER-REINSURE>                             415,858
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<POLICY-LOSSES>                              1,464,587
<UNEARNED-PREMIUMS>                                  0
<POLICY-OTHER>                                       0
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<NOTES-PAYABLE>                                522,310
<COMMON>                                         6,937
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                     927,208
<TOTAL-LIABILITY-AND-EQUITY>                 3,643,896
<PREMIUMS>                                   1,144,802
<INVESTMENT-INCOME>                            115,746
<INVESTMENT-GAINS>                              17,188
<OTHER-INCOME>                                 118,059
<BENEFITS>                                     192,361
<UNDERWRITING-AMORTIZATION>                          0
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<INCOME-PRETAX>                                 73,868
<INCOME-TAX>                                    19,354
<INCOME-CONTINUING>                             54,514
<DISCONTINUED>                                  23,065
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    77,579
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<EPS-DILUTED>                                        0
<RESERVE-OPEN>                                 473,206
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<PAYMENTS-CURRENT>                               9,390
<PAYMENTS-PRIOR>                               101,409
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