Kingsway Financial Services Inc. announced executive management changes in Canada on Friday stemming from its previously announced strategic transformation initiative.
Kingsway has appointed Serge Lavoie as president and CEO of its business in Canada, reporting to Colin Simpson, senior vice president and chief operating officer.
This move follows the announcement in early February that Kingswat would be consolidating its operations in Canada into a single operating unit as part of a strategic transformation initiative focused on returning the firm to profitability and restoring shareholder value. Kingsway currently does business in Canada through Mississauga-based Kingsway General Insurance Co. and Montreal-based Jevco Insurance Co..
Serge has served as president and CEO of Jevco for the past two years and has been with the company for almost 12 years. He is active in the Quebec chapter of the Canadian Claims Manager Association and previously held the positions of president and secretary with the CCMA. He is currently on the board of the Groupement des assureurs automobiles.
John McGlynn, who has led the Kingsway General business in Mississauga, is leaving the company to pursue other interests.
“I would like to thank John McGlynn for his tremendous service and dedication to Kingsway,” said Shaun Jackson. “We wish him well in his future endeavours.”
“Serge’s mandate is to streamline Kingsway’s approach to the Canadian market, focusing on profitable business and delivering the synergies made possible through consolidation,” added Shaun Jackson. “He has a strong track record of success with Jevco and I’m confident that under his leadership the tough decisions necessary to drive shareholder value will be made and implemented efficiently and effectively.”
Kingsway will continue to write business under both Kingsway General and Jevco brands and maintain a presence throughout Canada.
Kingsway announces executive management changes
Jevco head will now assume the position of president and CEO of Kingsway’s Canadian businesses
- By: IE Staff
- April 5, 2009 April 5, 2009
- 15:43