PLEASE PLEASE sell us, we were a great company UNTIL we were mismanaged by AIG
Our subrogation department brought in over 8 million a month,our claims department serviced our customers, (and we were actually respected in California)we didn’t count beans we counted service and we were a family not drones. We were a great company before and we can be a great company again if given the chance and sold…………………………
Hey 21st…be careful what you ask for you just might get it…then we will see how quickly you become a ‘great’ company again…by the way if you were so great how come someone other than AIG wasn’t interested in acquiring you…your loss ratios in California and Florida were off the charts…that is your definition of great…shotty underwriting and low-balling customers. You must have voted for Bush twice too! Stay tuned next week..bye-bye!
And you were so great that you were able to survive…. without AIG? Uh, no. What you have described is an organization that was sinking, not thriving. Unfortunately.
21st went down due to a major earthquake claims, not due to mismanagement of auto. Florida was a AIG move – and we were on the upswing which is why AIG bought the rest of our stock – it had nothing to do with being on the market for sale it had to do with AIG stepping in and taking controlling interest. It’s interesting also that major insurance companies have offered to buy 21st by it self but doesnt want the rest of AIG’S personal lines. hmmmmmmmm and AIG won’t sell it off by it self all or nothing
It will be interesting to see who ends up buying the pieces – probably another company that will be classified as “too big to fail”. And the cycle of reduced competition and increased government support continues.
What does voting for Bush twice have to do with AIG selling off 21st? Getting this white elephant off their balance sheet will probably be pretty good.
Kathy, don’t tell us your voting for NOBama???
Kathy – here are some facts for you. I have been with this company (formerly 21st) since it was 20th Century Insurance when it was in the top 4 in California and if you had done your homework you would of seen that after the earthquake in 1994 was where we ran into problems, however we always had a loyal following of clients – our renewal rate was at 90%. Your hero company AIG decided to buy over 52% of our stock which gave them say over how we operate. So even though they just bought us in 2007 they have had a say in everything we have done since 1994. AIG is the one who hired the president we have in CA who we have since 2002, who by the way made some bad decisions like going into Florida. Our previous management did not make as much as AIG’s salary wise not even close. They NEVER took hunting trips or special week retreats with someone else’s money. Yes they did treat their employees to things like a picnic, a coffee mug however it was for all employees not just management and from their profits not the tax payers bail out. Upper management was personable and did their jobs well; they were run out by AIG. (Mr. Mellick you are missed by all even us peons who are not recognized as part of AIG’S team) Kathy are you one of those who get a high salary and is upset because now your job may be on the line? Management at AIG does not know how to run a personal line insurance company (key word Personal) So take a good look at who you work for and get your facts before slamming a company that had ethics, good office morale and cared about their LOYAL customers.
First off, I will have to say that the former 21st was the greatest company ever. AIG did not buy us out, they just took the remainding shares of our company for our CASH assests prior to them asking for the bailout. We owned everything, not leased and had a heavy renewal rate from our customers. We had a lot of cash reserves which AIG used and burned through once they acquired us. We were their last chance before they had to ask for a bailout.
We have customers that have been with us 10+ years, along with our employees who the average tenure is about 10 years, whereas; the average customer of AIG remained for no more than 2 renewals (1year) along with their employees who has an average tenure of only 2 years.
AIG is mismanaged and not very knowledgeable when it comes to claims, customers, and service.
Please note, that we were not up for sale when we were bought, we were taken over! 21st was a growing and profitable company and we were a very happy company prior to AIG taking us over. In fact we had grown to insure more than 68% of the market in the US on our own and not by acquiring other companies. We were named in the top 20 most trusted companies for 6 years in a row. Never did AIG make that list.
Why don’t they sell us and save us from going down the tubes with them??????
we would love to sell 21st to get rid of your excessive vacation time and salaries! Someone please take this white elephant off of aig’s hands!
PLEASE PLEASE sell us, we were a great company UNTIL we were mismanaged by AIG
Our subrogation department brought in over 8 million a month,our claims department serviced our customers, (and we were actually respected in California)we didn’t count beans we counted service and we were a family not drones. We were a great company before and we can be a great company again if given the chance and sold…………………………
Hey 21st…be careful what you ask for you just might get it…then we will see how quickly you become a ‘great’ company again…by the way if you were so great how come someone other than AIG wasn’t interested in acquiring you…your loss ratios in California and Florida were off the charts…that is your definition of great…shotty underwriting and low-balling customers. You must have voted for Bush twice too! Stay tuned next week..bye-bye!
And you were so great that you were able to survive…. without AIG? Uh, no. What you have described is an organization that was sinking, not thriving. Unfortunately.
21st went down due to a major earthquake claims, not due to mismanagement of auto. Florida was a AIG move – and we were on the upswing which is why AIG bought the rest of our stock – it had nothing to do with being on the market for sale it had to do with AIG stepping in and taking controlling interest. It’s interesting also that major insurance companies have offered to buy 21st by it self but doesnt want the rest of AIG’S personal lines. hmmmmmmmm and AIG won’t sell it off by it self all or nothing
It will be interesting to see who ends up buying the pieces – probably another company that will be classified as “too big to fail”. And the cycle of reduced competition and increased government support continues.
What does voting for Bush twice have to do with AIG selling off 21st? Getting this white elephant off their balance sheet will probably be pretty good.
Kathy, don’t tell us your voting for NOBama???
If 21st Century was doing so bad then why did AIG take it and turn it into what it is now? Kathy get your facts straight!
Kathy – here are some facts for you. I have been with this company (formerly 21st) since it was 20th Century Insurance when it was in the top 4 in California and if you had done your homework you would of seen that after the earthquake in 1994 was where we ran into problems, however we always had a loyal following of clients – our renewal rate was at 90%. Your hero company AIG decided to buy over 52% of our stock which gave them say over how we operate. So even though they just bought us in 2007 they have had a say in everything we have done since 1994. AIG is the one who hired the president we have in CA who we have since 2002, who by the way made some bad decisions like going into Florida. Our previous management did not make as much as AIG’s salary wise not even close. They NEVER took hunting trips or special week retreats with someone else’s money. Yes they did treat their employees to things like a picnic, a coffee mug however it was for all employees not just management and from their profits not the tax payers bail out. Upper management was personable and did their jobs well; they were run out by AIG. (Mr. Mellick you are missed by all even us peons who are not recognized as part of AIG’S team) Kathy are you one of those who get a high salary and is upset because now your job may be on the line? Management at AIG does not know how to run a personal line insurance company (key word Personal) So take a good look at who you work for and get your facts before slamming a company that had ethics, good office morale and cared about their LOYAL customers.
First off, I will have to say that the former 21st was the greatest company ever. AIG did not buy us out, they just took the remainding shares of our company for our CASH assests prior to them asking for the bailout. We owned everything, not leased and had a heavy renewal rate from our customers. We had a lot of cash reserves which AIG used and burned through once they acquired us. We were their last chance before they had to ask for a bailout.
We have customers that have been with us 10+ years, along with our employees who the average tenure is about 10 years, whereas; the average customer of AIG remained for no more than 2 renewals (1year) along with their employees who has an average tenure of only 2 years.
AIG is mismanaged and not very knowledgeable when it comes to claims, customers, and service.
Please note, that we were not up for sale when we were bought, we were taken over! 21st was a growing and profitable company and we were a very happy company prior to AIG taking us over. In fact we had grown to insure more than 68% of the market in the US on our own and not by acquiring other companies. We were named in the top 20 most trusted companies for 6 years in a row. Never did AIG make that list.