Kingsway Financial Services Inc. today announced that it has entered into a US$175 million three-year revolving credit facility which matures in June 2009 with a syndicate of three banks.

This new credit facility replaces the existing $150 million (CDN) 364 -ay revolving credit facility, and contains similar terms, conditions and financial covenants to the facility it replaces.

In the new facility, The Bank of Nova Scotia acted as administrative agent, co-lead arranger and bookrunner, LaSalle National Bank as syndication agent and co-lead arranger, and Royal Bank of Canada acted as documentation agent.

“We are pleased to have extended the maturity of our bank facility,” said Bill Star, president & CEO, in a news release. “We expect this facility will provide us with greater flexibility to continue to support the profitable growth in our business.”

Kingsway Financial Services Inc. is the largest truck insurer in North America and the seventh largest non-standard automobile insurer in North America.