Zenith Names New Chief Financial Officer

May 24, 2006

Zenith National Insurance Corp., based in Woodland Hills, Calif., has announced that William J. Owen, senior vice president and chief financial officer, will retire following the closing of the accounting cycle for the second quarter. Kari L. Van Gundy, who will rejoin Zenith on July 5, 2006 as senior vice president, finance, will succeed Owen as chief financial officer following his retirement.

Since October 2002, Van Gundy has served as vice president and treasurer of GenCorp Inc., a publicly traded technology-based aerospace and defense manufacturer. Van Gundy was previously employed by Zenith in various positions from 1988 to 2002. Van Gundy was senior vice president, eCommerce, at Zenith from June 2000 through September 2002, and senior vice president, finance & treasurer of CalFarm Insurance Company, a former subsidiary of Zenith, when it was sold in 1999.

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