April 17, 2001 |
California homeowners may be hit with higher insurance rates after two companies--including one of the state's largest insurers--requested premium hikes averaging 6.9% for their property policies. Farmers Insurance and 21st Century Insurance each asked for the increases in their homeowners rates, according to state Department of Insurance filings made public Monday. Individual rates could rise as much as 15% in some areas, including Orange County, while some areas could see rate cuts.
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.
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.