21st Century Holding Subsidiary Gets Green Light from Citizens’ Board for Policy Take-out

December 11, 2003

21st Century Holding Company, a vertically integrated financial services holding company, announced that one of its subsidiaries, Federated National Insurance Company, has been approved by the Board of Governors of Citizens Property Insurance Corporation to take-out 31,000 homeowners insurance policies, pending subsequent approval by the Florida Department of Financial Services.

Richard Widdicombe, CEO, said, “With this transaction, Federated National will add roughly $60 million in premium to its homeowners program. This furthers our goal of expanding a product line, which has been consistently profitable, helps Citizens depopulate their program, and benefits Florida consumers, who will enjoy lower rates and greater choice.”

The company, through its subsidiaries, underwrites standard and non-standard personal automobile insurance, flood insurance, general liability insurance, mobile home insurance and homeowners’ property and casualty insurance in the State of Florida. In addition, the company has underwriting authority and process’ claims for third party insurance companies.

In addition to insurance services, the company offers financial services to its insureds as well as insured of third party insurance companies. Lastly, the company offers other ancillary services including licensing of its tax preparation software products, electronic income tax filing, tax preparation and tag and title transfer services.

The company offers single and master franchise opportunities to individuals through its subsidiaries Fed USA Insurance/Financial Services and EXPRESSTAX Franchise Corporation.

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