INSURANCE

20th Century Posts $498-Million Annual Loss: Battered by earthquake losses in its insurance units, 20th Century Industries reported a net loss of $498 million, or $9.69 a share, for 1994, contrasted with earnings of $112.6 million, or $2.19 a share, a year earlier. The Woodland Hills-based insurance holding company said that as of Dec. 31, 1994, it had paid claims and expenses totaling $785.4 million from the Northridge earthquake. Projected losses from the Jan. 17, 1994, quake are more than $900 million. Revenue of $1.1 billion for 1994 was the same as for 1993. For the fourth quarter of 1994, the company posted a loss of $48.7 million, or 95 cents per share, contrasted with a profit of $22.8 million, or 44 cents per share, in the year-earlier period.