September 15, 1992
Zenith National Insurance Corp. said its previously announced agreement to buy PAULA Financial for $16.5 million was canceled by mutual consent. Zenith, a Woodland Hills-based insurer, had announced the merger in July. PAULA Financial, based in Pasadena, is a privately held provider of insurance, primarily to agricultural firms.
May 12, 1992
Zenith National Insurance Corp. said it plans to redeem the outstanding $17.7 million in principal amount of its 10.25% senior notes due Dec. 1, 1994. The Woodland Hills-based insurer said the redemption would occur on June 10, and that it would pay 102.5% of the principal amount and accrued interest.
CALIFORNIA | LOCAL
November 9, 1999
Zenith National Insurance Corp., Woodland Hills, reported a net loss for the third quarter that ended Sept. 30 of $37.3 million, compared with net income of $3.4 million for the third quarter of 1998. The loss reflects $32.5 million of net charges associated with the acquisition of RISCORP. Revenues dropped to $118.5 million from $162.1 million.
December 28, 2004 |
Woodland Hills-based Zenith National Insurance Corp. said Monday that it had received letters of inquiry from the California Department of Insurance requesting information about its arrangements and dealings with its agents and brokers. The state agency is among several regulators conducting wide-ranging probes into industry practices. Zenith said it was cooperating with the request, which it announced after the stock market closed. Zenith shares declined 4 cents to $49.
June 25, 1991
A Rancho Mirage investor has reduced his stake in Zenith National Insurance Corp., a Woodland Hills property-casualty insurance company, to 1.1 million common shares, or 5.4% of the total outstanding. According to a filing with the Securities and Exchange Commission, Daniel Schwartz, who is also a Zenith director, sold 177,000 shares of Zenith common on May 8 and May 9 for $17 to $17.87 each, or a total of $2.8 million.
May 9, 1995
Zenith National Insurance Corp., a Woodland Hills property, casualty, auto and worker's compensation insurer, said its earnings fell 16% in the first quarter to $6.9 million, down from $8.2 million a year ago. Revenues for the quarter ended March 31 edged up 8% to $149.6 million, up from $138.2 million a year earlier. Stanley R. Zax, chairman and president, said winter wind and rainstorms that swept the state in January and March caused pretax losses of about $5.7 million.