21st Century First-Quarter Profit Jumps Five-Fold; New CEO Named
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[May 07, 2008]

21st Century First-Quarter Profit Jumps Five-Fold; New CEO Named

(BestWire Services Via Acquire Media NewsEdge) 21st Century Holding Co.'s (NASDAQ: TCHC) first-quarter profit increased five-fold to $4.3 million.

Revenues for the quarter were $20 million, a decrease of 21.7% over the same period a year ago.

Net premiums earned declined $3.8 million, or 16.8% during the first quarter. Total expenses decreased 38.2% to $15 million during the first three months when compared with the same period last year.

The company also announced that its cofounder, Edward J. "Ted" Lawson, is retiring as chairman and chief executive officer effective June 30. He will remain on the board of directors, who appointed Michael H. Braun as the new CEO and Bruce F. Simberg as chairman.



21st Century Holding Co. is headquartered in Lauderdale Lakes, Fla..

(By Chad Hemenway, associate editor, BestWeek: Chad.Hemenway@ambest.com)



Copyright ? 2008 A.M. Best Company, Inc.

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