20th Century Industries Reports Drop in Profit

20th Century Industries, the Woodland Hills-based parent of 20th Century Insurance, reported an 8% drop in profit for the first quarter, citing greater volume of automobile and homeowners’ claims because of the wet winter in Southern California.

For the three months that ended March 31, the company earned $23.9 million, compared with $26.1 million a year earlier. Revenue, however, was up 9% for the quarter, to $263.1 million from $242.2 million a year earlier.