Zenith Insurance Reports Doubling of Income

Zenith National Insurance Corp. said its second-quarter net income almost doubled on a 10% increase in revenue.

In the quarter ended June 30, the Woodland Hills-based property-casualty and workers’ compensation insurer earned $15.1 million, up from $7.8 million a year earlier. Its revenue rose to $149.5 million from $136 million.

Zenith’s second-quarter 1992 profit was reduced by a $1.4-million charge related to redeeming debt.

For the first half of this year, Zenith’s profit inched up to $27.7 million from $27.5 million, while revenue increased 10% to $292.8 million from $266.4 million. Last year’s first-half results included a $10.7-million increase in income from an accounting change.