20th Century Records $30.1-Million Profit

20th Century Industries, the Woodland Hills auto insurer, posted a $30.1-million profit in its third quarter, compared to a loss of $114.3 million a year earlier, as it continued its rebound after posting massive losses from insurance claims related to the Northridge earthquake.

The parent company of 20th Century Insurance posted quarterly revenues of $261.1 million for the period ending Sept. 30, compared to revenues of $280.9 million a year earlier.

For the nine months, 20th Century posted a profit of $43.3 million on revenues of $793.9 million, compared to a loss of $449.4 million on revenues of $904.9 million in the same period last year.

20th Century, which has sustained about $1 billion in earthquake damage claims, was allowed by the state insurance commissioner to exit the homeowners insurance business and received a large capital infusion from American International Group Inc., a New York insurance concern, which is now 20th Century’s largest shareholder.

20th Century has gone back to selling only auto insurance, and it plans to write auto coverage outside California for the first time, when it begins a joint venture with AIG in Arizona early next year.

As a result of the company’s capital infusion and profit rebound, 20th Century’s net worth at the end of the third quarter was $427.5 million, compared to $317.9 million at the end of 1994.