Zenith National Insurance Corp. (NYSE:ZNT) reported yesterday that its actuaries have completed a review of the loss and loss adjustment expense reserves of our insurance companies at December 31, 2002 and have determined that it is necessary to increase workers' compensation reserves by about 4.5% or $30.0 million. Accordingly, a non-cash charge of $30.0 million before tax, $19.5 million after tax or $1.04 per share, will be made to earnings in the fourth quarter of 2002. Net loss for the fourth quarter of 2002 is estimated at $7.5 million, or $0.40 per share, compared to a net loss of $10.5 ...
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