-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SD1OkEM4eabFDnf/IEzNhUdSoAZPJeFWcA3e3D/pewbZZEK73pmCls5ZmkIyXxEg Sbc6ZngwYrcyhC2NqLXB2Q== 0000889812-98-000683.txt : 19980323 0000889812-98-000683.hdr.sgml : 19980323 ACCESSION NUMBER: 0000889812-98-000683 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980320 SROS: NYSE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ZENITH NATIONAL INSURANCE CORP CENTRAL INDEX KEY: 0000109261 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 952702776 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-06570 FILM NUMBER: 98570038 BUSINESS ADDRESS: STREET 1: 21255 CALIFA ST CITY: WOODLAND HILLS STATE: CA ZIP: 91367 BUSINESS PHONE: 8187131000 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: RELIANCE FINANCIAL SERVICES CORP CENTRAL INDEX KEY: 0000083047 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] IRS NUMBER: 510113548 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: PARK AVE PLZ STREET 2: 55 E 52ND ST 29TH FL CITY: NEW YORK STATE: NY ZIP: 10055 BUSINESS PHONE: 2129091100 MAIL ADDRESS: STREET 1: PARK AVENUE PLAZA STREET 2: 55 EAST 52ND STREET CITY: NEW YORK STATE: NY ZIP: 10055 FORMER COMPANY: FORMER CONFORMED NAME: LEASCO FINANCIAL SERVICES CORP DATE OF NAME CHANGE: 19740414 SC 13D/A 1 AMENDMENT NO. 21 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 21 )* ---- ZENITH NATIONAL INSURANCE CORP. - -------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK, $1.00 PER SHARE - -------------------------------------------------------------------------------- (Title of Class of Securities) 989390109 - -------------------------------------------------------------------------------- (CUSIP Number) Howard E. Steinberg Senior Vice President and General Counsel Reliance Financial Services Corporation Park Avenue Plaza 55 East 52nd Street New York, New York 10055 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) See Item 5 - -------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box / /. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See ss.240.13d-7(b) for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). 1 CUSIP NO. 989390109 13D NAME OF REPORTING PERSON I.R.S IDENTIFICATION NOS. OF ABOVE PERSONS 1 (entities only) RELIANCE FINANCIAL SERVICES CORPORATION I.R.S. EMPLOYER IDENTIFICATION NO.: 51-0113548 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) 2 (b) SEC USE ONLY 3 SOURCE OF FUNDS* 4 N/A CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [X] 5 CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware SOLE VOTING POWER 7 6,574,445 NUMBER OF SHARES SHARED VOTING POWER BENEFICIALLY 8 OWNED BY EACH SOLE DISPOSITIVE POWER REPORTING 9 PERSON WITH 6,574,445 SHARED DISPOSITIVE POWER 10 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 6,574,445 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 38.9% TYPE OF REPORTING PERSON* 14 HC *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 2 The following information amends or supplements, as the case may be, the information previously filed by Reliance Financial Services Corporation ("Reliance Financial") relating to the ownership by its subsidiaries of the class of securities (the "Security") listed on the cover of this Schedule 13D. ITEM 2. IDENTITY AND BACKGROUND. Item 2 is restated in its entirety to read as follows: This statement is filed by Reliance Financial, a Delaware corporation. Reliance Financial owns all of the outstanding stock of Reliance Insurance Company ("RIC"), a Pennsylvania corporation. RIC and its property and casualty insurance subsidiaries underwrite a broad range of standard commercial and specialty commercial lines of property and casualty insurance. All of the capital stock of Reliance Financial is owned by Reliance Group Holdings, Inc., a Delaware corporation ("RGH"). Approximately 44.4% of the common voting stock of RGH is owned by Saul P. Steinberg, members of his family and affiliated trusts. As a result of his stock holdings in RGH, Saul P. Steinberg may be deemed to control RGH. The principal executive offices of each of Reliance Financial and RGH are located at Park Avenue Plaza, 55 East 52nd Street New York, New York 10055. The names, address and principal occupations of the directors and executive officers of Reliance Financial, all of whom are United States citizens, are as follows: Name and Business Address Position with Reliance Financial and ------------------------- Principal Occupation ------------------------ Saul P. Steinberg Chairman of the Board, Chief Reliance Group Holdings, Inc. Executive Officer and Director, Park Avenue Plaza Reliance Financial and RGH New York, New York 10055 Robert M. Steinberg President, Chief Operating Reliance Group Holdings, Inc. Officer and Director, Reliance Park Avenue Plaza Financial and RGH; Chairman of New York, New York 10055 the Board and Chief Executive Officer, RIC George E. Bello Executive Vice President, Reliance Group Holdings, Inc. Controller and Director, Park Avenue Plaza Reliance Financial and RGH New York, New York 10055 3 Lowell C. Freiberg Senior Vice President, Chief Reliance Group Holdings, Inc. Financial Officer and Director, Park Avenue Plaza Reliance Financial and RGH New York, New York 10055 Henry A. Lambert Senior Vice President--Real Reliance Group Holdings, Inc. Estate Investments and Park Avenue Plaza Operations, Reliance Financial New York, New York 10055 and RGH; President and Chief Executive Officer, Reliance Development Group, Inc. Dennis J. O'Leary Senior Vice President--Taxes, Reliance Group Holdings, Inc. Reliance Financial and RGH Park Avenue Plaza New York, New York 10055 Philip S. Sherman Senior Vice President--Group Reliance Group Holdings, Inc. Controller, Reliance Financial Park Avenue Plaza and RGH New York, New York 10055 Bruce L. Sokoloff Senior Vice President-- Reliance Group Holdings, Inc. Administration, Reliance Park Avenue Plaza Financial and RGH New York, New York 10055 Howard E. Steinberg, Esq. Senior Vice President, General Reliance Group Holdings, Inc. Counsel and Corporate Park Avenue Plaza Secretary, Reliance Financial New York 10055 and RGH James E. Yacobucci Senior Vice President-- Reliance Insurance Company Investments and Director, Park Avenue Plaza Reliance Financial, RGH and RIC New York, New York 10055 George R. Baker Director, Reliance Financial 3401 North California Avenue and RGH; Corporate Chicago, Illinois 60618 Director/Advisor various business enterprises Dennis A. Busti Director, Reliance Financial Reliance National, a principal and RGH; President and Chief subsidiary of RIC Executive Officer, Reliance 77 Water Street National, a principal subsidiary of New York, New York 10005 RIC Dr. Thomas P. Gerrity Director, Reliance Financial The Wharton School and RGH; Dean, the Wharton University of Pennsylvania School of the University of Steinberg Hall - Dietrich Hall Pennsylvania 3620 Locust Walk Philadelphia, PA 19104 4 Jewell J. McCabe Director, Reliance Financial Jewell Jackson McCabe and RGH; President, Jewell Associates Jackson McCabe Associates, 50 Rockefeller Plaza consultants specializing in planning Suite 46 and communications New York, New York 10020 Irving Schneider Director, Reliance Financial Helmsley-Spear, Inc. and RGH; Co-Chairman and Chief 60 East 42nd Street Operating Officer, Helmsley-Spear, New York, New York 10165 Inc., a real estate management corporation Bernard L. Schwartz Director, Reliance Financial Loral Space & Communications and RGH; Chairman of the Board, Chief Ltd. Executive Officer, Loral Space & 600 Third Avenue Communications Ltd., a New York, New York 10016 high-technology company concentrating on satellite-based services, Chairman of the Board and Chief Executive Officer, Globalstar Telecommunications, Ltd. Richard E. Snyder Director, Reliance Financial Golden Books Family and RGH; Chairman of Golden Books Entertainment, Inc. Family Entertainment, Inc., a 850 Third Avenue publisher of children's books. New York, New York 10022 Neither Reliance Financial nor, to the best of its knowledge, any other person named in this Item 2 has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) nor, except as set forth below, been party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or state securities laws or finding any violation with respect to such laws. On February 17, 1994, in settlement of an administrative proceeding concerning the accounting treatment for certain transactions in 1986 in the fixed income portfolio of RIC, without admitting or denying the allegations against it, RGH agreed to entry of an order by the Securities and Exchange Commission that RGH cease and desist from committing or causing any violation, and from committing or causing any future violation of, Section 13(a) of the Securities Exchange Act of 1934, as amended and Rules 13a-1 and 13a-3 thereunder. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. Item 5 is hereby amended by amending the first paragraph thereof as follows: According to a press release by the Issuer, the number of shares of the Security outstanding has decreased to 16,898,114. As a result, the 6,574,445 shares of the Security beneficially owned by Reliance Financial comprise approximately 38.9% of the Securities outstanding. Of the 6,574,445 shares of the Security beneficially owned by Reliance Financial, 6,496,225 shares are owned directly by RIC, 39,110 shares are owned directly by UPNY and 39,110 5 shares are owned directly by RNNY. Each of those corporations has sole voting and dispositive power over all of the shares directly owned by it. 6 SIGNATURE --------- After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: March 20, 1998 RELIANCE FINANCIAL SERVICES CORPORATION By /s/ James E. Yacobucci --------------------------------- James E. Yacobucci Senior Vice President-Investments 7 -----END PRIVACY-ENHANCED MESSAGE-----