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20th Century Insurance’s Financial Rating Upgraded

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A.M. Best last week upgraded its financial rating of 20th Century Insurance Co. by two grades to an A minus, up from a B plus rating.

“We are pleased 20th Century’s financial strength has been continually recognized and ratings upgraded by these rating agencies,” said 20th Century’s chief executive William Mellick in a statement.

The Woodland Hills-based insurance company has gradually been improving its financial performance since it came close to going out of business after paying out about $1 billion in damage claims from the 1994 Northridge earthquake.

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