July 24, 2003 |
21st Century Insurance Group, a Woodland Hills-based auto insurer, on Wednesday reported a threefold increase in second-quarter net income. Earnings rose to $29.2 million, or 34 cents a share, from $9.9 million, or 11 cents, a year earlier. However, $9.1 million of the increase represented a one-time gain from a favorable settlement with the IRS and other nonoperating profit.
March 24, 2009 |
American International Group Inc. executives who received much of the controversial retention bonuses have agreed to return the money, New York Atty. Gen. Andrew M. Cuomo said late Monday. [See story, B4.] Although the action may temper the public outrage, the spotlight on AIG will probably remain because of the more than $180 billion in financial aid the company is getting from taxpayers. Both Treasury Secretary Timothy F. Geithner and Federal Reserve Chairman Ben S.
August 7, 2001 |
A low-profile, family-owned real estate investment firm has purchased a Warner Center office complex for about $120 million in one of the San Fernando Valley's largest office building transactions. Bentley Forbes Group bought 21st Century Plaza--which serves as the headquarters of 21st Century Insurance--from an affiliate of Los Angeles-based Tishman International Cos.
January 26, 2007 |
Shares of 21st Century Insurance Group, the car insurer majority-owned by American International Group Inc., surged 26% on Thursday as investors bet that AIG would have to raise its $690-million offer for the rest of the company. The stock climbed $4.34 to $20.93, higher than AIG's offer of $19.75 a share. The world's largest insurer already owns 61.9% of the Woodland Hills-based company. Shares of AIG fell 99 cents to $68.89, their biggest drop since August.
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.
January 25, 2000 |
The chief executive of 21st Century Insurance Group has resigned as insurance behemoth and majority shareholder American International Group continued to strengthen its hold over the smaller Woodland Hills-based insurer. William L. Mellick, president of 21st Century since 1994 and its CEO since 1995, said in a statement released Monday that he is resigning his positions at the company and on its board, effective Feb. 4., to "pursue other business and personal interests."
April 4, 2001 |
American International Group Inc., the world's largest insurer by market value, said Tuesday that it has offered to buy U.S. life insurer and annuity giant American General Corp. for about $23 billion, topping the deal agreed to last month with British life insurer Prudential. AIG said it would pay $46 per American General share in the proposed all-stock deal, based on Tuesday's closing market price of AIG common stock. That values the deal at $23.1 billion.
September 14, 2006 |
California Insurance Commissioner John Garamendi's drive to lower automobile and homeowner insurance rates is expected to pay off again today for consumers. This time, the beneficiaries will be auto policyholders with 21st Century Insurance Group and homeowners who are covered by Safeco Insurance. Savings will be about $96.5 million, the commissioner said. "It's another victory for Californians," Garamendi said.