Profile: Kingsway Financial Services Inc (KFS.N)

KFS.N on New York Stock Exchange

5.60USD
19 Dec 2014
Price Change (% chg)

$0.00 (+0.00%)
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$5.60
Open
$5.60
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Volume
4,900
Avg. Vol
8,735
52-wk High
$7.01
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$3.69

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Kingsway Financial Services Inc. (Kingsway), incorporated on September 19, 1989, is a holding company. The Company, through its subsidiaries, is engaged in the property and casualty insurance business. The Company operates in two segments: Insurance Underwriting and Insurance Services. Non-standard automobile insurance is principally provided to individuals who do not qualify for standard automobile insurance coverage because of their payment history, driving record, place of residence, age, vehicle type or other factors. On March 30, 2011, the Company sold its wholly owned subsidiary Hamilton Risk Management Company and its subsidiaries, including Kingsway Amigo Insurance Company (Amigo), to HRM Acquisition Corp.

Insurance Underwriting Segment

The Company's property and casualty insurance business operations are conducted primarily through its subsidiaries: Mendota Insurance Company (Mendota), Mendakota Insurance Company, Universal Casualty Company (UCC), Kingsway Reinsurance Corporation and Kingsway Reinsurance (Bermuda) Ltd. Insurance Underwriting provides non-standard automobile and other types of property and casualty insurance to individuals and commercial automobile insurance to businesses. It conducts business in 17 states.

Insurance Underwriting principally offers personal automobile insurance to drivers who do not meet the criteria for coverage by standard automobile insurers. During the year ended December 31, 2011, non-standard automobile insurance accounted for 86.4% of the Company's gross premiums written.

Insurance Services Segment

Insurance Services consists of the subsidiaries of the Company, including Assigned Risk Solutions Ltd. (ARS), Northeast Alliance Insurance Agency, LLC (NEA) and KAI Advantage Auto, Inc. (Advantage Auto). During 2011, ARS and NEA were organized to run as one business under the ARS name. ARS is a licensed property and casualty agent, full service managing general agent and third-party administrator focused primarily on the assigned risk market. Advantage Auto is a licensed property and casualty agent. Advantage Auto is licensed as an agency in Illinois and Indiana.

Company Address

Kingsway Financial Services Inc

Suite 400, 45 St. Clair Avenue W
TORONTO   ON   M4V 1K9
P: +1416.8481171
F: +1416.8505439

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