The Canadian Press

Kingsway Financial Services Inc. (TSX:KFS) said Monday it expects to report an operating loss of at least $39 million for its latest quarter.

The company said the operating loss is expected to be at least 72 cents per share for the fourth quarter.

Kingsway said it also expects to an investment mark-to-market decline $12 million of 22 cents loss per share and a writedown of $37 million or 69 cents per share related to Jevco Insurance Co. which the company sold.

Kingsway offers car insurance in the United States to drivers who do not meet the criteria for coverage by standard automobile insurers.