20th Century’s Profits Up 45.9% in 3rd Quarter

20th Century Industries, the Woodland Hills-based holding company for 20th Century Insurance, said its earnings rose 45.9% from a year earlier to $10.8 million, or 43 cents a share, in the third quarter. The increase was largely due to a 149% increase in 20th Century’s investment income to $9.2 million.

Direct premiums written, comparable to revenue for an insurance company, were up 36%, to $107.3 million.

For the nine months ended Sept. 30, 20th Century’s net income rose 41.7%, to $24.5 million, or $1.03 a share. Direct premiums were up 38%, to $291.6 million. Investment income climbed 49%, to $22.9 million.