TORONTO AND CHICAGO, Jan. 1 /CNW/ - Kingsway Financial Services Inc.
("Kingsway" TSX: KFS, NYSE: KFS) and Atlas Financial Holdings, Inc.
(formerly JJR VI Acquisition Corp.) ("Atlas" TSXV: JVI.P) announced
today that the Atlas transaction closed and American Country Insurance
Company and American Service Insurance Company, Inc. have become
subsidiaries of Atlas. Trading in the ordinary shares of Atlas on the
TSX Venture Exchange will commence following final acceptance of the
Atlas transaction by the TSX Venture Exchange, which is anticipated to
occur during the week of January 4, 2011.
The TSX Venture Exchange has in no way passed upon the merits of the
Atlas transaction and has neither approved nor disapproved the contents
of this press release.
Notice regarding forward-looking statements: This release includes
forward-looking statements regarding Kingsway and Atlas and each of
their respective subsidiaries and businesses. Such statements are
based on the current expectations of the management of each entity. The
forward-looking events and circumstances discussed in this release,
including acceptance of the transaction, may not occur and could differ
materially as a result of known and unknown risk factors and
uncertainties affecting the companies, including risks regarding the
insurance industry, economic factors and the equity markets generally.
No forward-looking statement can be guaranteed. Except as required by
applicable securities laws, forward-looking statements speak only as of
the date on which they are made and Kingsway and Atlas and each of
their respective subsidiaries undertake no obligation to publicly
update or revise any forward-looking statement, whether as a result of
new information, future events, or otherwise.
Kingsway focuses on non-standard automobile insurance in the United
States of America. Kingsway's primary businesses are the insuring of
automobile risks for drivers who do not meet the criteria for coverage
by standard automobile insurers. The common shares of Kingsway
Financial Services Inc. are listed on the Toronto Stock Exchange and
the New York Stock Exchange, under the trading symbol "KFS".
The primary business of Atlas is commercial automobile insurance in the
United States, with a niche market orientation and focus on insurance
for the "light" commercial automobile sector including taxi cabs, non
emergency paratransit, limousine/livery and business auto. The
business of Atlas is carried on through its subsidiaries American
Country Insurance Company and American Service Insurance Company, Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Kingsway Financial Services Inc.
For further information:
Scott Wollney, Chief Executive Officer of Atlas Financial Holdings, Inc. at 847-700-8600.
Larry G. Swets, President and Chief Executive Officer of Kingsway Financial Services Inc. at 416-848-1171.