Zenith National Profit Soars 91% Over Last Year

Zenith National Insurance Corp. said its third-quarter profit soared 91% from a year earlier on a 6% increase in revenue.

The Woodland Hills-based property and casualty insurer said its net income in the quarter ended Sept. 30 jumped to $13.8 million from $7.23 million a year earlier. Its revenue rose to $138.8 million from $130.6 million.

Contributing to the improvement was a big swing in Zenith’s investment gains. The company realized a net gain of $3.4 million on investment transactions in the latest quarter, versus a loss of $5 million a year earlier.

For the first nine months of this year, Zenith’s profit surged 54% from a year earlier, to $37.6 million from $24.4 million, and its nine-month revenue rose 7%, to $408.6 million from $381.1 million.