20th Century Industries: The Woodland Hills-based insurance...

20th Century Industries: The Woodland Hills-based insurance holding company’s first-quarter net income plunged 54% from a year earlier to $13 million. Revenue totaled $188 million, a gain of 11%. The firm said the combined auto and homeowners policy count as of March 31 was up 14% from a year ago. The decline in net income was attributed to an increase in losses and loss-adjustment expenses due in part to the company’s substantial policy growth and a significant rise in assigned-risk policies that had a negative impact.