Zenith Net Income Drops to $1.8 Million for the 2nd Quarter

Zenith National Insurance Corp. on Wednesday reported net income of $1.8 million during the second quarter, down from $28.4 million during the similar period in 2008.Net income for the first six months of the year was $4.4 million, compared to $70.3 million in the first half of 2008, the Woodland Hills, Calif.-based carrier said."The recession, increase in unemployment, decreases in payrolls, and competition relative to our pricing and underwriting strategies continue to impact our workers' compensation business; however, our results are about break-even for the quarter, with our recurring...