Colin Simpson has been named senior vice president and chief operating officer of Toronto-based Kingsway Financial services Inc.
In his new role, Simpson will lead a company-wide effort to simplify the organization, eliminate operational inefficiencies and identify and implement cost cuts.
In addition, A.M. Best has affirmed the financial strength ratings of eight of its subsidiaries and downgraded the financial strength ratings of four other subsidiaries. The company also announced that its Board and Management will focus their efforts to cut costs and exit non-core lines of business.
A.M. Best has affirmed the financial strength ratings of eight insurance and reinsurance subsidiaries, including Universal Casualty Company, American Service Insurance Company, U.S. Security Insurance Company, Mendota Insurance Company, Mendakota Insurance Company, Southern United Fire Insurance Company, Jevco Insurance Company and Kingsway Reinsurance (Bermuda) Ltd. A.M.
Best has downgraded the financial strength ratings of Lincoln General Insurance Company to "B-" (Fair), Kingsway General Insurance Company to "B" (Fair), American Country Insurance Company to "B-" (Fair), and Kingsway Reinsurance Corporation to "C++" (Marginal). A.M. Best has also downgraded the issuer credit rating of Kingsway Financial Services Inc. and Kingsway America Inc. to "B".
Peggy Bresnick Kendler has been a writer for 30 years. She has worked as an editor, publicist and school district technology coordinator. During the past decade, Bresnick Kendler has worked for UBM TechWeb on special financialservices technology-centered ... View Full Bio