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21st Century Insurance Group

CALIFORNIA | LOCAL
March 7, 2003 | Dan Morain and Virginia Ellis, Times Staff Writers
A Republican lawmaker on Thursday criticized a major insurance company and his own party for hiding nearly $1 million in company donations in last year's election, and said he believed the transactions amounted to political money laundering. "If the allegations are true, it could constitute money laundering and ought to be investigated," said Sen. Tom McClintock (R-Thousand Oaks). "I disagree with those who say this is only shady, not illegal. I think it is both."
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CALIFORNIA | LOCAL
March 6, 2003 | Virginia Ellis and Dan Morain, Times Staff Writers
With only days left before the November election, state Republicans solicited nearly $1 million from a Los Angeles insurance company and channeled it to key races around California in a way that hid the source of the contributions. On Oct. 21, Woodland Hills-based 21st Century Insurance Group wrote checks ranging from $25,000 to $200,000 to the California Republican Party and GOP committees in 15 mostly rural counties.
BUSINESS
January 8, 2002 | LIZ PULLIAM WESTON, TIMES STAFF WRITER
21st Century Insurance is ending its three-year experiment with selling homeowner insurance in California, and instead will refer customers to a subsidiary of Calabasas-based Countrywide Credit Industries Inc. for coverage, company officials said Monday. Woodland Hills-based 21st Century, which is owned by American International Group Inc., said it will stop renewing homeowners' policies beginning Feb. 21 and will send customers to DirectNet Insurance Agency Inc.
BUSINESS
July 12, 2001 | LISA GIRION, TIMES STAFF WRITER
A day after Farmers Insurance Exchange was slapped with a $90-million judgment in an overtime case, a lawsuit was filed against 21st Century Insurance Group charging that company with cheating its claims adjusters and examiners out of premium pay. Similar lawsuits are pending against at least nine other insurers in California, where labor laws and court rulings favor white-collar workers' demands for overtime pay.
BUSINESS
April 17, 2001 | LIZ PULLIAM WESTON, TIMES STAFF WRITER
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.
CALIFORNIA | LOCAL
February 13, 2001
21st Century Insurance Group of Woodland Hills reported net income of $1.8 million for the fourth quarter ended Dec. 31, compared with $7.3 million for the fourth quarter in 1999. Revenue increased to $221.8 million from $202.7 million. For the year, the company reported net income of $12.9 million, down sharply from net income of $87.5 million. Revenue rose to $869.8 million from $832.7 million.
CALIFORNIA | LOCAL
October 31, 2000
21st Century Insurance Group, Woodland Hills, reported net income for the third quarter ended Sept. 30 of $2.6 million, down from $18.4 million for the third quarter last year. Revenue rose to $220.1 million from $198.7 million. 21st Century markets and underwrites auto and homeowners insurance.
BUSINESS
March 9, 2000 | A Times staff writer
Paul Farber, executive vice president of 21st Century Insurance Group, resigned, becoming the latest defection from the Woodland Hills-based insurer. Farber, 48, who also held the position of chief operating officer, was leaving to "pursue other interests." He joined the company in 1984 and held various positions in the claims, marketing and operations areas of the company. Bruce Marlow, who was named president and chief executive last month, will assume Farber's operating responsibilities.
BUSINESS
February 9, 2000 | WILLOUGHBY MARIANO, TIMES STAFF WRITER
21st Century Insurance Group on Tuesday named a former Allstate executive to the posts of president and chief executive, a move signaling that the Woodland Hills-based company is pursuing an aggressive growth strategy, analysts said. Bruce Marlow was most recently president of Allstate Corp.'s Independent Agency Markets, a division that handles the insurer's independent agents. Previously, he was chief operating officer of Progressive Corp., another national insurer.
BUSINESS
January 27, 2000 | A Times Staff Writer
A major shareholder and board member of 21st Century Insurance Group is seeking to become chief executive of the Woodland Hills-based insurer whose CEO announced his resignation earlier this week. The offer came from Gregory Shepard, chairman and president of American Union Insurance Co., who owns about 6% of 21st Century. He said he would take a salary of just $1 a year and would give up his current job if selected as William Mellick's successor.
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