21st Century Insurance Company announced that California Insurance Commissioner John Garamendi intends to approve a rate filing that will allow the Company to comply with the Commissioner’s recent regulatory changes. The rate filing is expected to be effective in late November 2006 and will create an average rate decrease for California policyholders of 5%.
“While 21st Century is actively expanding across the U.S., our roots are in California. We’ve been operating here for almost 50 years and have always complied with the state’s regulations,” said Chief Executive Officer & President Bruce Marlow. “Over the last two years, the California marketplace has been very stable. The Commissioner’s new regulations and the subsequent rate filings by all auto insurers operating in the state may increase consumer shopping behavior, which has historically benefited 21st,” added Marlow.
21st Century Insurance Group is the seventh largest writer of personal automobile insurance in California and employs more than 2,700 people, with more than 1,600 employees at its headquarters in Woodland Hills, California.
Founded in 1958, 21st Century Insurance Group (NYSE:TW) is a direct-to-consumer provider of personal auto insurance. With $1.4 billion of revenue in 2005, the company insures over 1.5 million vehicles in Arizona, California, Florida, Georgia, Illinois, Indiana, Nevada, Ohio, Oregon, Pennsylvania, Texas and Washington. 21st provides superior policy features and 24/7 customer service at a competitive price. Customers can purchase insurance, service their policy or report a claim at 21st.com or on the phone with our licensed insurance professionals at 1-800-211-SAVE, 24 hours a day, 365 days a year. Service is offered in English and Spanish both on the phone and on the Web. 21st Century Insurance Company, 21st Century Casualty Company and 21st Century Insurance Company of the Southwest are rated A+ (Superior) by A.M. Best, Fitch Ratings and Standard & Poor’s.
21st Century Insurance Group is traded on the New York Stock Exchange under the trading symbol TW and is headquartered at 21st Century Plaza, 6301 Owensmouth Avenue, Woodland Hills, CA 91367.