Specialty insurer to cut costs by US$20 million in 2009
Stilwell Group seeks removal of firm’s CEO
Specialty insurer working with co-financial advisors Houlihan Lokey and Scotia Capital
Economic turmoil hits insurer’s bottom line
Sun Life Financial Inc. today revealed that its exposure to troubled insurance giant American International Group Inc. is about US$315 million of bonds.The U.S. government last night agreed to and bail out AIG.Sun Life said it has $88 million of bonds issued by American International Group Inc., the parent holding company, and a further $227 […]
Newly created role is part of Kingsway’s strategic plan to increase oversight throughout the group
Sale reflects non-standard auto insurer’s focus on core business
Kingsway Financial Services Inc. returned to profitability during the second quarter, marking a significant improvement over the net loss of US$34.4 million reported in the first quarter of 2008.The Mississauga, Ont.-based car and truck insurance company reported net income of US$6.3 million, or 11¢ a diluted per share for the quarter ended June 30. That […]
Kingsway Financial Services Inc. today announced that prior to the end of July it intends to repay all amounts outstanding under its US$175 million three year revolving facility originally made with a syndicate of banks in June 2006.At March 31, 2008, the amount outstanding under this credit agreement was US$94.5 million, and as of June […]
Senior managers placed at U.S. units Lincoln General and American Country