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Description:
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21st Century Insurance Group (21st) is an insurance holding company. The Company is a direct-to-consumer provider of personal auto insurance. 21st insures over 1.5 million vehicles in California, Texas, Illinois, and six other states. Customers have around-the-clock option to purchase insurance, service their policy or report a claim over the phone directly through its licensed insurance professionals at 1-800-211-SAVE or through its Website at www.21st.com. The Company's wholly owned subsidiaries include 21st Century Insurance Company, 21st Century Casualty Company, 21st Century Insurance Company of the Southwest, 20th Century Insurance Services, Inc. and i21 Insurance Services. The Company's private passenger auto insurance contract generally covers bodily injury liability, property damage, medical payments, personal injury protection, uninsured and underinsured motorist, rental reimbursement, uninsured motorist property damage, towing, comprehensive and collision. For the three months ended 31 March 2006, 21st Century Insurance Group's revenues fell 3% to $342.5M. Net income rose 10% to $21.3M. Revenues reflect decrease in premiums earned due to soft market conditions & an increase in net realized investment losses. Net income was benefited by decreased policy acquisition costs, decrease in net losses & loss adjustment expenses and lower interest and fees expenses.
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