Kingsway gains debt funding through banking syndicate

Specialty risks auto insurer Kingsway Financial Services Inc. (TSE: KFS) has received a $66.5 million credit facility from a banking syndicate consisting of Canadian Imperial Bank of Commerce (CIBC), LaSalle Bank National Association and HSBC Bank Canada. The insurer says the debt funds will be used for "general corporate purposes". Toronto-based debt rating agency, DBRS, […]

By Canadian Underwriter | June 3, 2002 | Last updated on October 30, 2024
1 min read

Specialty risks auto insurer Kingsway Financial Services Inc. (TSE: KFS) has received a $66.5 million credit facility from a banking syndicate consisting of Canadian Imperial Bank of Commerce (CIBC), LaSalle Bank National Association and HSBC Bank Canada. The insurer says the debt funds will be used for "general corporate purposes". Toronto-based debt rating agency, DBRS, assigned a BBB "with a stable trend" rating to Kingsway, noting that the company’s balance-sheet is acceptable.

Canadian Underwriter

<span style=color:#ff0000>2024 Underwriters of the Year |</span>Katie Witt, Senior Underwriter, HD Mutual Insurance Company

Industry

2024 Underwriters of the Year |Katie Witt, Senior Underwriter, HD Mutual Insurance Company

Katie Witt began her insurance career shortly after graduating from Wilfrid Laurier University and Nipissing University with a joint BA/BEd in 2012. Initially planning on being an educator but struggling with a challenging hiring process, Witt looked to insurance for a stable income and a start to a promising career. She never looked back. Her […]

October 17, 2024

4 min read

<span style=color:#ff0000>2024 Underwriters of the Year |</span> Michael Watts, Senior Commercial Lines Underwriter, Intact Insurance

Industry

2024 Underwriters of the Year | Michael Watts, Senior Commercial Lines Underwriter, Intact Insurance

Over the course of 25 years, Michael Watts has honed his deep commercial underwriting expertise and dedication to building broker relationships. Watts started his career in 1999 as a Personal Lines Customer Service Agent, then moved into commercial lines where he rose through the ranks, eventually taking on his current role. He holds a BComm […]

October 16, 2024

3 min read

<span style=color:#ff0000>2024 Underwriters of the Year |</span> Monica Waddell, Personal Lines Underwriter, Intact Insurance

Industry

2024 Underwriters of the Year | Monica Waddell, Personal Lines Underwriter, Intact Insurance

Monica Waddell’s career began over two decades ago when she joined the industry as a customer service representative with Renfrew Thompson Insurance in 2001. Two years later, she joined Intact Insurance as an underwriting assistant, a role that marked the beginning of her journey in underwriting. Today, Waddell’s experience in nurturing broker relationships is a […]

October 15, 2024

3 min read