<ARTICLE> 7
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ALLEGHANY
CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET AT JUNE 30, 1998 AND THE
CONSOLIDATED STATEMENT OF EARNINGS FOR THE 6 MONTHS THEN ENDED AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<DEBT-HELD-FOR-SALE>                         1,379,974
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                     835,183
<MORTGAGE>                                           0
<REAL-ESTATE>                                        0
<TOTAL-INVEST>                               2,215,157
<CASH>                                          55,369
<RECOVER-REINSURE>                             405,324
<DEFERRED-ACQUISITION>                               0
<TOTAL-ASSETS>                               3,561,820
<POLICY-LOSSES>                              1,227,841
<UNEARNED-PREMIUMS>                                  0
<POLICY-OTHER>                                       0
<POLICY-HOLDER-FUNDS>                                0
<NOTES-PAYABLE>                                453,055
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                   1,186,000
<TOTAL-LIABILITY-AND-EQUITY>                 3,561,820
<PREMIUMS>                                     198,104
<INVESTMENT-INCOME>                             83,910
<INVESTMENT-GAINS>                               2,486
<OTHER-INCOME>                                  98,667
<BENEFITS>                                     138,057
<UNDERWRITING-AMORTIZATION>                          0
<UNDERWRITING-OTHER>                                 0
<INCOME-PRETAX>                                 43,535
<INCOME-TAX>                                    13,348
<INCOME-CONTINUING>                             30,187
<DISCONTINUED>                                  32,725
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    62,912
<EPS-PRIMARY>                                     8.63
<EPS-DILUTED>                                     8.48
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0