21st Century Auto Insurance: California, Arizona, Nevada, Washington, Oregon.


21st Century Insurance offers personal automobile, motorcycle, and umbrella insurance in California and automobile insurance in Arizona, Nevada, Oregon, and Washington. The company receives much of its new business through referrals from current policyholders; the average annual renewal rate of existing policyholders is over 93%.

At year-end 2002, 21st Century Insurance Group had $965.3 million in net premiums written, $981.3 million in revenues, and assets totaling $1.5 billion.

21st Century Insurance and its subsidiary operations are headquartered at
21st Century Plaza
6301 Owensmouth Ave.
Woodland Hills, CA 91367
(818) 704-3700

NAIC #12963. CA Certificate of Authority #6959.

21st Century Insurance's success story begins with its founder Louis W. Foster. After 20 years as an independent agent in the insurance business, Mr. Foster founded the original company in 1958 in Los Angeles as an inter-insurance exchange. An inter-insurance exchange is similar to a cooperative where policyholders work together to finance and insure the losses of the other policyholders.

The one-employee office grew rapidly and in 1966 the company moved to Century City to accommodate its expanding staff and volume of policies. The company celebrated a major milestone at the same time — achieving $1 million in premiums in a single year.

In 1968 the decision was made to convert the inter-insurance exchange to a capital stock company for two reasons. First, the federal government had minimized the tax advantages for the exchange. Second, the California Department of Insurance raised the capital and surplus requirements of reciprocals to $1 million. The decision was considered one of the most unique in the annals of business in California. The policyholders of the exchange ultimately became stockholders in the newly structured company. The profits in the exchange were used as a basis for measuring the amount of equity the policyholder would be entitled to in the new company. As a result, people who had bought insurance to save money received the added benefit of becoming stockholders. In 1969 the company wrote $2 million in premiums; $5 million was reached in 1972, and $10 million in 1975.

In 1980 the company moved from Century City to its current headquarters in Woodland Hills. Its spectacular growth continued upward with $100 million in premiums in 1982, $200 million in 1984, $500 million in 1987, and more than $1 billion in 1993. The company expanded into Arizona in 1996 and began operations in Nevada, Oregon, and Washington in 1998. 21st Century Insurance has more than 2,500 employees and occupies two 11-story headquarters buildings in Woodland Hills. The company also operates 14 division service offices, five vehicle inspection centers, and nine drive-in claim centers.

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