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Kingsway Financial Services Inc. Message Board

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  • youngeragent youngeragent Nov 13, 2009 3:51 PM Flag

    Confessions of a KFS customer---BK must be looming!!!

    "strengthening relationships with regulators and rating agencies, being sure we have the right people in the right role."

    I want to remind longs here that blanet denials are not the way to "strengthen relationships with regulators". Have we not learned a thing from the disaster in Illinois where the company was ordered to process claims in a proper and timely manner and fined a considerable about? We are on the shit list of USA regulators and as a forgein based company we cannot afford to remain on this list. Mr. Forrest does us a great service by giving us real time field reports on how our claims practises are a cluster fuck at best. Lip service will only serve to keep this company going in the wrong direction with regulators. The consideration of new leadership should be the focus of the BOD!!! Is there not an activist investor like Mr. Chapman at EDCI who will take over this disaster?

    Thanks, Dan. I believe we are at the turning point in Kingsway's transformation. Since last quarter's call, we have taken action that will allow us to put the legacy of poor historical business strategies behind us. We can now concentrate our attention on rebuilding the strength and performance of the group. On last quarter's call, I provided an update on the considerable process we made in executing the transformation plan we announced in February of this year. I outlined what we were doing on all four fronts. All of which I'll touch on again this morning. The four were, restoring financial stability, managing the run-off of Lincoln, strengthening relationships with regulators and rating agencies, being sure we have the right people in the right role.

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