Zenith National Insurance Reports 28% Income Drop
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Zenith National Insurance Corp. in Woodland Hills reported a 28% decline in its fourth-quarter net income, a result of higher gains on investments after taxes in the year-earlier quarter.
In the three months ended Dec. 31, Zenith earned $8.7 million, while its revenue rose 6% to $152.3 million. In the fourth quarter of 1993, the company earned $12 million on $143.8 million in revenue.
For all of 1994, Zenith had a profit of $37.9 million, down 29% from its $53.2 million in net income in 1993. Its revenue for the year rose 2%, to $595.1 million from $585.8 million.
Zenith provides workers’ compensation and property and casualty insurance.
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