Insurer Alleghany said Monday that it has agreed to pay about $3.4 billion to acquire Transatlantic Holdings, a company that has attracted multiple takeover attempts over the past several months.

Alleghany will pay $59.79 a share in cash and stock to buy Transatlantic, a New York-based reinsurance company. The purchase prices represents a 10 percent premium above the price of Transatlantic shares at the close of trading Friday.

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