Zenith National’s Profit Drops 6% to $10.2 Million

Woodland Hills-based Zenith National Insurance Corp. said its earnings for the second quarter that ended June 30 were $10.2 million, down 6% from $10.9 million in the second quarter last year. Revenues for the second quarter were $153 million, up slightly from $151 million last year.

For the first six months of this year, earnings were $17.1 million, down 10% from $19.1 million last year. The drop was on a roughly 5% increase in revenue to $303 million from $290 million in the first two quarters a year ago.

The company said that earnings were down in the second quarter and six-month period because changes in the California workers’ compensation market have reduced premiums.