<ARTICLE> 7
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM (A)
ALLEGHANY CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET AT JUNE 30,
1997 AND THE CONSOLIDATED STATEMENT OF EARNINGS FOR THE 6 MONTHS THEN ENDED AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH (B) FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<DEBT-HELD-FOR-SALE>                         1,989,737
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                     767,644
<MORTGAGE>                                           0
<REAL-ESTATE>                                        0
<TOTAL-INVEST>                               2,757,381
<CASH>                                         306,999
<RECOVER-REINSURE>                             397,719
<DEFERRED-ACQUISITION>                               0
<TOTAL-ASSETS>                               4,695,592
<POLICY-LOSSES>                              1,674,514
<UNEARNED-PREMIUMS>                                  0
<POLICY-OTHER>                                       0
<POLICY-HOLDER-FUNDS>                                0
<NOTES-PAYABLE>                                455,199
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                   1,455,100
<TOTAL-LIABILITY-AND-EQUITY>                 4,695,592
<PREMIUMS>                                     849,618
<INVESTMENT-INCOME>                            104,422
<INVESTMENT-GAINS>                             (1,037)
<OTHER-INCOME>                                 100,228
<BENEFITS>                                     176,292
<UNDERWRITING-AMORTIZATION>                          0
<UNDERWRITING-OTHER>                                 0
<INCOME-PRETAX>                                 67,798
<INCOME-TAX>                                    20,951
<INCOME-CONTINUING>                             46,847
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    46,847
<EPS-PRIMARY>                                     6.44
<EPS-DILUTED>                                     6.44
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0