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News Release

New Jersey Department of
Banking and Insurance

Commissioner Steven M. Goldman

For Immediate Release:
October 12, 2006

For Further Information:
Jim Gardner (609) 292-5064

New Jersey Welcomes New Auto Insurance Company

Seventh company to enter market since 2003 reforms

TRENTON – New Jersey Banking and Insurance Commissioner Steven M. Goldman today announced a new entry into the state’s automobile insurance market, an indication that New Jersey motorists continue to benefit from industry reforms implemented in 2003.

Based in Wooodland Hills, Calif., 21st Century Insurance Group was authorized to write private passenger automobile insurance in New Jersey as of Oct. 8. Customers can now call for quotes, or can obtain a quote online at www.21st.com.

“The entry of 21st Century Insurance into the New Jersey market certainly is good news for the industry, and good news for consumers,” Goldman said. “It’s a clear indication that consumers continue to benefit from increased competition, and demonstrates that we continue to make progress toward our goal of a stable, sustainable automobile insurance market.”

Founded in 1958, 21st Century Insurance has exhibited a recent surge of growth that has included expansion into 10 additional states since 1998. This year alone, the company has added Florida, Georgia, and Pennsylvania to its territory. With the addition of New Jersey, the company now does business in 13 states, with further expansion plans in the works.

“We are certainly pleased that a growth-oriented company like 21st Century Insurance has observed that New Jersey is a good place to do business,” Goldman said.

21st Century Insurance follows Mercury General, GEICO, Esurance, AMEX, Progressive and Unitrin Direct as the seventh entry into the New Jersey market since auto insurance reform.

Since automobile insurance reform was enacted in 2003, the number of automobiles insured has continued to climb while the premiums paid by New Jersey motorists have declined. During that time, New Jersey residents have saved more than a half-billion dollars in rate reductions and dividends alone – not counting the savings consumers may have realized by shopping around.