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Video Broadcast Zenith is Fourth Largest Work Comp Writer in California Runtime 1:32 Real Media 56k | Broadband Windows Media Player 56k | Broadband Quicktime 56k | Broadband

While announcing the 2002 first quarter results for Zenith National Insurance Corp., Chairman and President Stanley R. Zax said Zenith has become the 4th largest writer of workers’ compensation in California. That’s a jump from 11th in 2001.

Zenith is headquartered in Woodland Hills, CA with branch offices in San Diego, Santa Ana, Fresno, Sacramento, San Francisco, Pleasanton and Santa Cruz, as well as nationwide.

The company reported operating income after taxes of $3.3 million for the first quarter of 2002 compared to an operating loss after taxes of $0.2 million last year.

Gross workers’ compensation premiums written by Zenith increased 16 percent over the same time last year. The comparable percentage for the state of California was 27 percent.

Zenith’s property/casualty operations saw a combined ratio of 104.5 percent for the first three months of 2002. The combined ratio for workers’ compensation operations during that time was 106.8 percent.

Commenting on the results, Zax said, "We are encouraged by the trends of increasing premium volume and improvement in our operating results. In our core workers' compensation business, rate increases continue to be substantial, except in Florida, where industry rate increases have not been approved. We expect to see further improvement in the workers' compensation combined ratio as our earned premiums reflect these rate increases and as more customers are attracted to our specialist services.”