21st Century Adding New Territories

21st Century Insurance Group continued to expand its business outside California in the fourth quarter of 2005. The Woodland Hills-based company said that its out-of-state business rose over 80 percent for the full 2005 year, compared to a 2.2 percent decrease in direct premiums written in California for the year. For the fourth quarter, the auto insurance provider reported net income rose to $26.4 million or $0.31 per diluted and basic share, from $22.5 million or $0.26 per share for the comparable period a year ago. The results include net realized capital losses of $600,000 for the quarter, compared to net realized capital losses of $2 million for the same period in 2004. “Our plans for entering three states in the second quarter and an additional three states in the third quarter of 2006 are on track,” said Bruce Marlow, president and CEO in announcing the financial results. “Geographic expansion is a key strategy for achieving our long-term growth goal.”