Kingsway back to black but Lincoln threat lingers
Kingsway Financial Services (KFS) returned to the black in the first quarter, despite a net operating loss and its combined ratio ballooning by 30.4 percentage points from a year earlier to 136.2 percent.
The Canadian-headquartered auto insurer booked net income of $24mn against a loss of $58mn for the first three months of 2009.
But the troubled firm faces an ongoing threat as a result of its
controversial method for disposing of defunct subsidiary Lincoln
General Insurance Company.
In October...
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