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21st Century Reports Net Income and Expansion Plans for 2006

21st Century Insurance Group reported net income of $21.1 million on written premiums of $349.1 million compared with a net income of $24.6 million on written premiums of $346 million during the same period last year. The company noted that the third quarter last year included a one-time $4.9 million reduction in income tax expenses. Bruce Marlow, president and CEO of 21st Century said markets outside California are producing strong sales, and the company plans to enter three new states in the second quarter of 2006 and three states in the third quarter. 21st hopes to be selling to 50 percent of the U.S. personal auto market by the middle of next year; it currently markets to 30 percent of the market.

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