August 14, 2001 |
21st Century Insurance Co. has requested a 28% increase in its homeowners insurance premiums, according to a state Department of Insurance filing. 21st Century officials said the Woodland Hills company's premiums are significantly below the industry average in California and would remain below average if the hike is approved.
December 7, 2009 |
Farmers Insurance Group plans to lay off nearly 200 people at its recently acquired 21st Century Insurance division over the next three weeks. Since August the company has laid off 343 people at the Woodland Hills headquarters of 21st Century, which Farmers bought in July. Farmers spokesman Mark Toohey said the layoffs were part of a plan to streamline operations at the two companies. An additional 95 jobs will be eliminated next year, he said. Farmers completed its purchase of 21st Century from troubled insurance giant American International Group Inc. on July 1. With the merger, Farmers -- a traditional insurance company that sells home, automobile, life and other insurance products through a network of agents -- added 21st Century's system for selling auto insurance directly to motorists via telephone and the Internet.
September 28, 2007 |
American International Group Inc. acquired Woodland Hills-based 21st Century Insurance Group on Thursday and said it would eliminate 600 jobs in combining its auto unit with 21st Century. Call center staff, claims handlers and administrative workers are among employees from the two companies who will lose their jobs as a result of the transaction, said Chris Winans, spokesman for New York-based AIG, the world's largest insurer.
February 10, 2000 |
Allstate Corp. said its fourth-quarter operating profit fell 18% to $524 million, or 66 cents a share, as higher auto claims and stiffer competition continued to hammer the troubled insurer. Revenue grew 8.6% to $7.01 billion. Allstate's stock quickly fell to a new 52-week low, even though the results exceeded analysts' lowered expectations of 64 cents. The company's shares closed down $2.06, or more than 9%, at $19.94 on the New York Stock Exchange.
CALIFORNIA | LOCAL
March 11, 2003 |
Secretary of State Kevin Shelley on Monday called for an investigation by the state's Fair Political Practices Commission into nearly $1 million in hidden campaign donations from a Los Angeles insurance company to the California Republican Party and county GOP committees in the closing days of last year's election. Shelley, a Democrat, also said he will press to close what he called a loophole in campaign finance law that permitted 21st Century Insurance Group of Woodland Hills to cloak contributions it made to the state Republican Party on Oct. 21 until well after votes had been counted.
CALIFORNIA | LOCAL
May 6, 2006 |
Auto insurers are launching a well-financed campaign against Insurance Commissioner John Garamendi's push for new regulations that the industry contends would raise rates for millions of California drivers. The campaign is expected to be unveiled Monday, less than a month before Garamendi faces two challengers in the June 6 Democratic primary for lieutenant governor. Insurers insist their "broad-based education campaign" isn't politically motivated.