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Alleghany shares jump after report on possible sale of its reinsurer Transatlantic

Alleghany rose the most since December as Reuters reported that the company was approached about the possible sale of its Transatlantic reinsurance unit.

By Sonali Basak | Updated on May 20, 2015
Alleghany hasn’t reached a decision on whether to sell its reinsurance unit Transatlantic.

(Bloomberg) — Alleghany Corp. rose the most since December as Reuters reported that the company was approached about the possible sale of its Transatlantic reinsurance unit.

Alleghany jumped 3.3% to $504.02 at 12:45 p.m. in New York trading. A deal could value the unit at $6.5 billion, the news service reported, citing people familiar with the matter it didn’t identify.

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