Lindner Raises Stake in Zenith National

Cincinnati financier Carl H. Lindner has raised his stake in Zenith National Insurance Corp. to 9.7% of the Woodland Hills-based insurer.

In a filing with the Securities and Exchange Commission, Lindner’s American Financial Corp. said it bought an additional 400,000 shares of Zenith National on Nov. 5 from a Zenith National director, Daniel Schwartz, and certain trusts of which Schwartz is a co-trustee.

American Financial paid $17.25 a share, or $6.9 million, for the stock. The company, of which Lindner is chairman and chief executive, now owns 1.83 million Zenith National shares.