Zenith National Insurance Posts 3% Gain in Income
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Zenith National Insurance Corp. said its net income rose 3% in the third quarter that ended Sept. 30, to $12.1 million, or 56 cents a share, from $11.8 million, or 51 cents a share, a year earlier.
Zenith, a Woodland Hills workers’ compensation insurance company, said its revenue in the quarter rose 10% to $133.5 million. Income from operations in the quarter rose 3% as well, to $11.4 million from $11.1 million a year earlier.
For the 9 months, Zenith’s net income rose less than 1% to $37.0 million, or $1.72 a share, from $36.8 million, or $1.59 a share, a year earlier.
Revenue in the 9 months was $373.5 million, up 8% from a year earlier. Income from operations in the period climbed 10% to $35.2 million.
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