21st Century Insurance Co.
After 20 years of selling insurance policies, Louis W. Foster founded 21st Century Insurance in 1958 in Los Angeles, California. The company was an inter-insurance exchange, meaning the policyholders financed and insured the losses of other policyholders. In 1968, the company converted to a stock company, with policyholders becoming stockholders.
AIG purchased 21st Century in 2007, then sold the company to Zurich Financial Services in 2009, making it part of the Farmers Insurance Group. 21st Century’s corporate offices were relocated to Wilmington, Delaware, that same year.
21st Century made a name for itself by providing insurance directly to consumers via the telephone, the Internet and mail, avoiding the need to employ agents and pay commissions. This tactic allowed the company to maintain competitive rates.
21st Century insures more than 2 million vehicles all states except Massachusetts as well as the District of Columbia.