Fairfax Financial Holdings Ltd. on Thursday closed its acquisition of Zenith National Insurance Corp. after the $1.4 billion deal received approval from the California Department of Insurance.

The Toronto, Ontario insurance holding company already is Woodland Hills-based Zenith’s second largest shareholder, with an 8 percent stake. It announced in February that it would pay $38 a share in cash to acquire the remaining outstanding shares. Zenith shareholders approved the acquisition last month.

Zenith, considered the state’s third largest workers’ compensation insurance provider, primarily operates in California and Florida, with business in 43 additional states and the District of Columbia. Its ZNAT Insurance Co. subsidiary conducts business in Arizona, California, Iowa, Texas and Utah.

Operations are expected to remain here. Fairfax’s other subsidiaries provide property and casualty insurance, reinsurance and investment management.

Shares were taken off the New York Stock Exchange on Friday.