Zenith Reports 10.8% Increase in Net Income for 1Q

Zenith National Insurance Corp. on Monday reported a 10.8% increase in net income for the first quarter of 2007 despite declining premiums. Zenith reported net earnings of $64.5 million, or $1.73 per share, for the first quarter of 2007 compared with net income of $57.5 million, or $1.55 per share, for the first quarter of 2006. Net income includes realized gains on investments after tax of $3.9 million, or 10 cents share, in the first quarter of 2007 compared with $1 million, or 3 cents per share, in the first quarter of 2006, Zenith said. Underwriting income from the workers' compe...