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                       SECURITIES AND EXCHANGE COMMISSION
                                WASHINGTON, D.C.

                                    FORM 10-Q/A

                   QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934
                         FOR QUARTER ENDED JUNE 30, 1998

                          COMMISSION FILE NUMBER 1-9371


                              ALLEGHANY CORPORATION
              EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER


                                    DELAWARE
          STATE OR OTHER JURISDICTION OF INCORPORATION OR ORGANIZATION


                                   51-0283071
             INTERNAL REVENUE SERVICE EMPLOYER IDENTIFICATION NUMBER


                    375 PARK AVENUE, NEW YORK, NEW YORK 10152
            ADDRESS OF PRINCIPAL EXECUTIVE OFFICE, INCLUDING ZIP CODE


                                 212 / 752-1356
               REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE


                                 NOT APPLICABLE
              FORMER NAME, FORMER ADDRESS, AND FORMER FISCAL YEAR,
                          IF CHANGED SINCE LAST REPORT


     INDICATE BY CHECK MARK WHETHER THE REGISTRANT (1) HAS FILED ALL REPORTS
   REQUIRED TO BE FILED BY SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
     OF 1934 DURING THE PRECEDING 12 MONTHS (OR FOR SUCH SHORTER PERIOD THAT
                       THE REGISTRANT WAS REQUIRED TO FILE

                   YES X                             NO___

     INDICATE THE NUMBER OF SHARES OUTSTANDING OF EACH OF THE ISSUER'S CLASS
     OF COMMON STOCK, AS OF THE CLOSE OF THE PERIOD COVERED BY THIS REPORT:

                                    7,178,621
                              (AS OF JUNE 30, 1998)
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ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K.

         (a) Exhibits.

         Exhibit Number                              Description
         --------------                              -----------

              27                                Financial Data Schedule

         (b) Reports on Form 8-K.

         The Company filed reports on Form 8-K dated May 26, 1998 and June 18,
1998, to report in Item 5 that the Company issued a press release announcing
the record date for, and the completion of, respectively, the spin-off of
Chicago Title.


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                                   SIGNATURES


         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this amendment to be signed on its behalf by the
undersigned thereunto duly authorized.


                                       ALLEGHANY CORPORATION
                                       Registrant



Date: August 14, 1998                  /s/ Robert M. Hart
                                       ------------------------------
                                       Robert M. Hart
                                       Senior Vice President,
                                       General Counsel and Secretary

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