<ARTICLE> 7
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ALLEGHANY
CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET FOR THE QUARTER ENDING
MARCH 31, 1995 AND THE CONSOLIDATED STATEMENT OF EARNINGS FOR THE 3 MONTHS THEN
ENDED AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1995
<PERIOD-END>                               MAR-31-1995
<DEBT-HELD-FOR-SALE>                         1,450,368
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                     544,226
<MORTGAGE>                                           0
<REAL-ESTATE>                                        0
<TOTAL-INVEST>                               1,994,594
<CASH>                                         169,215
<RECOVER-REINSURE>                             428,090
<DEFERRED-ACQUISITION>                               0
<TOTAL-ASSETS>                               3,696,066
<POLICY-LOSSES>                              1,501,379
<UNEARNED-PREMIUMS>                                  0
<POLICY-OTHER>                                       0
<POLICY-HOLDER-FUNDS>                                0
<NOTES-PAYABLE>                                379,070
<COMMON>                                             0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                   1,111,087
<TOTAL-LIABILITY-AND-EQUITY>                 3,696,066
<PREMIUMS>                                     312,725
<INVESTMENT-INCOME>                             45,355
<INVESTMENT-GAINS>                             (2,307)
<OTHER-INCOME>                                  41,279
<BENEFITS>                                      68,929
<UNDERWRITING-AMORTIZATION>                          0
<UNDERWRITING-OTHER>                                 0
<INCOME-PRETAX>                                  (281)
<INCOME-TAX>                                   (1,074)
<INCOME-CONTINUING>                                793
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       793
<EPS-PRIMARY>                                     0.11
<EPS-DILUTED>                                     0.11
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0