Kingsway Financial announces departure of Chief Financial Officer

    TORONTO, May 18 /CNW/ - (TSX:KFS, NYSE:  KFS) Kingsway Financial Services
Inc. ("Kingsway" or the "Company") announced today that Ms. Shelly Gobin,
Senior Vice President and Chief Financial Officer of the Company since 2008,
has left the organization. Ms. Gobin's responsibilities will be assumed on an
interim basis by Mr. Daniel Brazier, CA. Mr. Brazier was previously the Chief
Financial Officer of the Wholesale Banking Division at Standard Chartered Bank
where he was responsible for strategy and finance. He was also VP Finance at
CIBC World Markets. Dan has been heavily involved in strategy development,
business transformation and finance re-engineering in his career. Mr. Brazier
will work with the Company as it continues with its previously announced
transformation program.

    About the Company

    Kingsway Financial Services Inc. is one of the largest non-standard and
commercial automobile insurers in North America based on A.M. Best data that
we have compiled. Kingsway's primary business is the insuring of automobile
risks for drivers who do not meet the criteria for coverage by standard
automobile insurers and trucking insurance. The Company currently operates
through eleven wholly-owned insurance subsidiaries in Canada and the U.S.
Canadian subsidiaries include Kingsway General Insurance Company and Jevco
Insurance Company. U.S. subsidiaries include Universal Casualty Company,
American Service Insurance Company, Southern United Fire Insurance Company,
Lincoln General Insurance Company, U.S. Security Insurance Company, American
Country Insurance Company, Zephyr Insurance Company, Mendota Insurance Company
and Mendakota Insurance Company. The Company also operates reinsurance
subsidiaries in Barbados and Bermuda. 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".

    %SEDAR: 00003152E

For further information:

For further information: Colin Simpson, President and Chief Executive
Officer, Tel: (905) 677-8889, Fax: (905) 677-5008, Web Site:

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