21st Century, an insurance holding company, has reported a net income of $8.09 million, or $1.02 per share for the fourth quarter ended December 31, 2007, compared to a net loss of $4.05 million, or $0.52 per share for the same period in 2006.
Net premiums earned increased $7.8 million, or 45.4% to $24.9 million for the quarter as against $17.1 million for the same quarter in 2006. Likewise, total revenues also increased $7.8 million, or 35.9% to $29.5 million for the period, as compared to $21.7 million for the corresponding period in 2006.
For the 12 months ended December 31, 2007, the company has reported a net income of $21.28 million, or $2.69 per share, compared to net income of $13.89 million, or $1.84 per share for the comparable period in 2006.
For the full year, net premiums earned increased $9.9 million, or 11.1% to $99.2 million as compared to $89.3 million for the same twelve month period in 2006.