Shearson maintains neutral 3-M rating on Zenith National.Shearson maintains neutral 3-M rating on Zenith National Shearson Lehman Bros BROS Brothers BROS Benefits and Retirement Operations Section (King County, Washington) BROS Barnes and Richmond Operatic Society (London, UK) . announced Nov. 1 that it will maintain its neutral 3-M rating on Zenith National Insurance Group stock, in spite of strong third quarter 1990 earnings by the Woodland Hills-based company. On the basis of reported earnings per share of 62 cents for the quarter (excluding realized investment losses), compared to 50 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. for the year-earlier quarter, Shearson Lehman will increase its 1990 earnings per share estimate for the company from $2.10 to $2.25 per share, said Shearson Lehman analyst Michael Smith Michael or Mike Smith may refer to: Journalists
Smith said that weaker than anticipated underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. results in the Zenith's workers compensation business this quarter were compensated for by exceptionally strong underwriting profits Underwriting profit is a term used in the insurance industry. It consists of the earned premium remaining after losses have been paid and administrative expenses have been deducted. It does not include any investment income earned on held premiums. in the company's automobile line. Zenith National reported realized investment losses of 25 cents per share for the third quarter, bringing net earnings per share down to 37 cents per share for the quarter, down from 50 cents per share in third quarter 1989. |
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