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SOUTHLAND PREVIEW / The Business Week Ahead

Los Angeles County

October 24, 1994|From Times Staff and Wire Reports

20th Century Report: 20th Century Industries of Woodland Hills is expected to delay the release of its third-quarter results while it works up a proxy asking shareholders to vote on a proposed $216-million infusion by American International Group of New York. AIG could end up with 43% of the earthquake-battered insurance company's stock. 20th Century is exiting the home insurance market, after seeing its quake damage claims rise steadily from less than $100 million--announced the day after the Jan. 17 Northridge quake--to its latest estimate of $815 million. One problem the company hasn't yet settled is how or when it will pay policyholders $119 million in auto insurance rebates, court-ordered as a result of Proposition 103.

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