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  February 4, 2008
  Source:  WorkInjury.com
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Zenith's Profits Shrink as Rates Fall, Competition Grows

Fourth quarter earnings for Zenith National Insurance Corp. were reported last week.

The numbers were bleak, sending the stock down to its lowest price per share in over than a year (actually, since September 2006).

Earnings were down nearly 50 percent - ($39 million versus almost $75 million during the same period a year ago). The company blamed lower premium rates and much more competition as new carriers poured into California in search of the post SB-899 gold rush.

As of last Friday, Zenith stock was trading at $37.81 a share, down from its 52-week high of $51.

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