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Q

Is 21st Century insurance the same as AIG?


A

The U.S. now owns close to 80% of AIG, which was 21st Century Car Insurance. 21st Century Car Insurance is now a part of Farmers Insurance.

In 1998, AIG acquired a majority interest in 20th Century Industries (now 21st Century Insurance).

In 2006, 21st Century Insurance Group provided direct-to-consumer personal auto insurance in the United States. It sold personal automobile insurance polices primarily in Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana,Minnesota, Missouri, Nevada, New Jersey, Ohio, Oregon, Pennsylvania, Texas, Washington, and Wisconsin. The company was founded in 1958 and was headquartered in Woodland Hills, California.

In January 2007, 21st Century Insurance said they received an unsolicited $690 million offer from American International Group Inc. (AIG) for all of the shares that the auto insurer currently does not own. AIG offered $19.75 cents a share for the remaining 38.1 percent of the stock of the Woodland Hills-based company it does not already own and it made it a subsidiary of AIG (American International Group).

AIG is an international insurance and financial services organization. The U.S. government now owns close to 80% of AIG.

21st Century Insurance was owned by AIG. In 2009, Farmers Insurance acquired 21st Century Insurance from AIG; a portion of that money is eventually expected to go back to U.S. taxpayers.


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3 Responses to "Is 21st Century insurance the same as AIG?"
  1. Anonymous

    This answer ws correct at one time, but aig sold 21st century to Zurich and 21st century is now a subsidiary of Farmers insurance. You should update your information.

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  2. Anonymous

    The answer was detailed from the details of the actual purchase thru its status in the current bailout/economic crisis environment. Well written, succinct, clear to the "man-on-the-street" -- perhaps excluding Jay Lenos Jaywalkers in their ignorance. Thx very much for the answer. My question relates to being a passenger in a recent auto accident, hit by a 21st Century insured.

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  3. Anonymous

    I want to know what the "customer Satisfaction" record for 21 Century is apt to be now.....

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