21st Century Insurance is a company that was registered on the New York Stock Exchange, and has been providing direct to the consumer personal auto insurance. 21st Century Insurance policies cover over 1.5 million vehicles in California and eight other Western, Southwestern, eastern and mid western states. In the state of California, 21st Century Insurance is considered to be seventh largest personal auto insurance company, that provides different kinds of insurance for automobile, motorcycle and personal umbrella insurance. Customer services are excellent and customers can purchase insurance service of their policy, all through the year through the 24-hours service. We believe that we deliver superior policy features, and also superior customer service at very competitive prices Towards the end of the year 2004, this group had an amount of $1.3 billion in the net premiums written, and $1.4 billion in assets, that totals $1.9 billion.
21st Century Insurance Story
The founder of 21st Century Insurance was Louis W.Foster, who founded the company in the year 1958, with the help of his experience of 20 years as an independent agent. An inter-insurance exchange is quite similar to a cooperative, where most of the policyholders try to insure the losses of the other policyholders. It was in the year 1968, a decision was made to convert the inter insurance exchange to the stock. It was the federal government who had minimized the tax for the advantages, and then the California Department of Insurance raised its capital and stock requirements. It was one of the most unique annals in the business of California. The profits that resulted on the use of this exchange were considered for measuring the amount of equity of the policy holders, where were entitled to the new company.$2 million were written on behalf of the company, in the year 1969, and $ 5 million was reached in the year 1972, and then $10 million in the year 1975.The company soon grew, and in a few years the company moved to Century City, in order to accommodate the ever increasing staff and number of policies. This was in the year 1980 that the company moved to its current headquarters, in Woodland hills. 21st Century Insurance has always seen its rapid growth, and expanded to many areas such as Arizonia, Washington, Georgia, Pennsylvania.Today the company is said to be employing more than 2500 employees and occupies a 11 storey headquarters building in Woodland Hills. The company also has 14 service offices, along with 9 drive in claim centers and 5 vehicle inspection centers.
21st Century Insurance In The Community
21st Century Insurance has always been involved with community development, and over 5 years time, the employees had managed to raise $1.8 million towards the United Way Campaigns. In the year 2003, there was $3 million in the form of donation to the Union Rescue Mission. This donation was made on behalf of the company as well as its founder. It was the 1996, that 21 st Century played a major role as a sponsor in order to create Los Angeles Police Academy Magnet School Program. 21st Century Insurance has also joined hands with California Missions Foundation, in order to increase awareness. In the previous poster competition was organized for the students, in which more than 400 students participated. The poster contest was entitled “A Day in the Life of a Mission”. Besides all these, 21st Century Insurance has always been involved in providing financial support to numerous causes. Last year there was another development, when there was a joint venture with California Highway Patrol, in order to promote child safety seat and conducted many kinds of community events, through different parts of California’s we celebrate our 45th anniversary, we are proudly honoring the tradition that is set by our founder, Louis W.Foster, in 1958.