KINGSWAY FINANCIAL SERVICES INC. (TSE:KFS) Files An 8-K Other EventsItem 8.01Other Events.
On September 14, 2018, the Board of Directors (the “Board”) of Kingsway Financial Services Inc. (the “Company”) passed a resolution authorizing the Company to exercise its voluntary right to defer interest payments on its trust preferred securities for up to 20 quarters, to the contractual terms of its outstanding indentures, which permit interest deferral. Also on September 14, 2018, following the passage of the Board resolution, the Company delivered formal notice to the trustees of its trust preferred securities of the Company’s intention to exercise its voluntary right to defer interest payments for up to 20 quarters.
About KINGSWAY FINANCIAL SERVICES INC. (TSE:KFS)
Kingsway Financial Services Inc. is a holding company. The Company operates as a merchant bank primarily engaged, through its subsidiaries, in the property and casualty insurance business. The Company operates through Insurance Underwriting segment. Its Insurance Underwriting segment provides non-standard automobile insurance to individuals who do not meet the criteria for coverage by standard automobile insurers. The Insurance Underwriting segment markets automobile insurance products that provide coverage in three areas: liability, accident benefits and physical damage. The Insurance Underwriting’s products and services are marketed through over 3,700 independent agencies. The Company’s property and casualty insurance business operations are conducted through its subsidiaries, such as Mendota Insurance Company (Mendota), Mendakota Insurance Company (Mendakota), Mendakota Casualty Company (MCC), Kingsway Amigo Insurance Company (Amigo) and Kingsway Reinsurance Corporation.