20th Century Industries of Woodland Hills, the parent of 20th Century Insurance, reported record profits for its second quarter ended June 30. Net income was $5.9 million, or 54 cents a share, up 20% from the same period a year ago.
The increase was a result of improved investment income and recent rate increases, according to Koby Kobayashi, senior vice president.
Gross premiums for the quarter were $71.8 million, also a record high, up 31% over the same period last year. Assets as of the end of the quarter were $266.8 million, up 11% from June 30, 1984.
20th Century Insurance sells automobile and homeowners insurance.