Kingsway Financial Services Inc. announced today that company founder Bill Star is retiring from his position as president and CEO, effective December 31. Star will remain as chairman of the board.

Shaun Jackson, currently executive vp and chief financial officer, has been appointed as Star’s successor.

“Bill Star is a widely respected industry leader who has served this company, the insurance industry, and the community with dedication for many years,” says lead director Michael Walsh. “His entrepreneurial spirit, vision, and drive have made Kingsway what it is today. As founding CEO, he succeeded in growing a small, private, and specialized Ontario automobile insurer into a $2 billion public, diversified property and casualty company operating across North America. On behalf of the board, shareholders, and Kingsway employees, I would like to thank him for his tremendous contributions and wish him all the best for his retirement.”

Bill Stars says “It is, of course, very difficult to step down from leadership of the company that I founded and was privileged to see grow successfully over many years. But the time is right to make the transition.”

“Shaun Jackson has been an executive with Kingsway since 1995. His experience and deep understanding of Kingsway’s complex decentralized business model give the board confidence that he will lead the company effectively as president and CEO,” adds Walsh.