Zenith Updates 9/11 Estimates

Zenith National Insurance Corp. (NYSE:ZNT) yesterday announced an update of its previously reported estimate of the effect of the terrorist attacks of September 11, 2001, a preliminary agreement to sell 1 million shares of its common stock in a private placement and a proposed 10 percent quota share ceded reinsurance agreement in its workers' compensation business. There continues to be considerable uncertainty as to the nature and amount of monetary losses associated with the September 11 attacks. Zenith's primary property and casualty operation, which consists of direct workers' compensat...