20th Century Industries, a Woodland Hills-based insurance...

20th Century Industries, a Woodland Hills-based insurance holding company, reported net income of $16.2 million on net written premiums of $152.8 million for the second quarter. A year ago, the company reported net income of $14.1 million and net premiums of $125.3 million. The firm said the Tax Reform Act of 1986 increased its tax burden by taxing a portion of its previously tax-exempt bond income, discontinuing loss reserves and reducing the deduction for unearned premiums.