Zenith National Reports 78% Rise in Net Income
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Zenith National Insurance Corp. in Woodland Hills said its net income jumped 78% to $12.3 million in the first quarter ended March 31 from $6.9 million a year earlier. Revenue rose 10% to $134.4 million from $122.6 million.
The first-quarter results marked a recovery from the fourth quarter of 1990, when the property-casualty insurer had a net loss of $33.6 million after taking $42.6 million in charges to reflect losses on its junk bonds.
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