TRENTON, N.J., October 13 – The 21st Century Insurance Group of California is the latest entry into the New Jersey car insurance market, it was announced by state Insurance Commissioner Steven Goldman.

He said the entry is a clear indication that consumers continue to benefit from increased competition, and demonstrates that we continue to make progress toward our goal of a stable, sustainable automobile insurance market.

The 21st Century Insurance group was founded in 1958, and including New Jersey, now does business in 13 states. This year it also entered the car insurance markets in Florida, Georgia, and Pennsylvania.

Goldman said that 21st Century is the seventh company to enter the New Jersey car insurance market since the new insurance law easing regulations and restrictions on insurance companies went into effect in 2003.

The other entrants are Mercury General, GEICO, Esurance, AMEX, Progressive, and Unitrin Direct.

Goldman said that, since the new law was enacted, the number of automobiles insured has continued to climb and premiums have dropped.

He said that, because of dropping rates, New Jersey residents have saved more than a half billion dollars in insurance premiums.