Zenith Net Income Up Despite Decline in Premiums

Zenith National Insurance Corp. reported Monday that its net income more than doubled, to $72.2 million, in the third quarter of 2006 compared with the same period last year, despite a reduction in workers' compensation premium income. Zenith's net earnings were $23 million in the third quarter of 2005. The company's net income for the first three quarters of 2006 was $183.8 million, or $4.95 per share, compared with net income of $108.7 million, or $2.99 per share in the first three quarters of 2005. Zenith said its workers' compensation net premiums earned decreased approximately 15% i...