Kingsway Financial Services: Investor Day Presentation – October 6, 2021



Presentation of Investor Day October 6, 2021

Forward-looking statements

This presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 which are not historical facts and involve risks and uncertainties which could result in substantial difference from actual results. of those expected and projected. Words such as “expects”, “believes”, “anticipates”, “intends”, “estimates”, “research” and variations and similar words and expressions are intended to identify these forward-looking statements; however, the absence of such words does not mean that a statement is not a forward-looking statement. These forward-looking statements relate to future events or future performance, but reflect the current beliefs of Kingsway management, based on information currently available. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, including as a result of the COVID-19 pandemic. For information identifying material factors that could cause actual results to differ materially from those anticipated in forward-looking statements, please refer to the section entitled “Risk Factors” in the Company’s 2020 Annual Report on the form 10-K, as well as the risk factors listed from time to time in any subsequent filing with the Securities and Exchange Commission. Unless expressly required by applicable securities laws, the Company disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise.

Additional information

Additional information about Kingsway, including a copy of its 2020 Annual Report, is available in the EDGAR section of the United States Securities and Exchange Commission website at, on the US Securities and Exchange Commission website. Canadian Securities Administrators at, or on the Company’s website at

Non-US GAAP financial measures

The Company believes that the adjusted non-GAAP net income (loss) and adjusted non-GAAP adjusted EBITDA, which are included in this presentation, when presented in conjunction with comparable GAAP measures, provide useful information. on the Company’s operating results and improve the overall ability to assess the Company’s financial performance. The Company uses adjusted non-GAAP net income (loss) and adjusted non-GAAP EBITDA, along with other GAAP performance measures, to compare the relative performance of operations in planning, budgeting and reviewing the performance of his business. Non-GAAP Adjusted Net Income (Loss) and Non-GAAP Adjusted EBITDA allow investors to make a more meaningful comparison between the operating results of the Company’s core business over different time periods. The Company believes that Adjusted Non-GAAP Net Income (Loss) and Adjusted Non-GAAP Adjusted EBITDA, when considered together with the Company’s GAAP results and accompanying reconciliations, provide useful information on the activities of the Company without taking into account potential distortions. By eliminating potential differences in operating results between periods caused by the factors listed in the accompanying tables, the Company estimates that adjusted non-GAAP net income (loss) and adjusted non-GAAP EBITDA GAAP can provide a useful additional basis for comparing the current performance of the underlying transactions being evaluated. Investors should consider these non-GAAP measures in addition to, and not as a substitute or superior to, financial reporting measures prepared in accordance with GAAP. Investors are encouraged to review the Company’s financial results prepared in accordance with GAAP in order to understand the Company’s performance taking into account all relevant factors.

John T. Fitzgerald

President, CEO and Director

Mr. Fitzgerald has been CEO of Kingsway since September 2018. Mr. Fitzgerald joined Kingsway as Executive Vice President on April 21, 2016 following Kingsway’s acquisition of Argo Management Group, a capital investment partnership -investment co-founded by Mr. Fitzgerald in 2002. Effective March 8, 2017, Mr. Fitzgerald has been appointed President and Chief Operating Officer of Kingsway. Prior to co-founding Argo Management Group, Mr. Fitzgerald was Managing Director of Adirondack Capital, LLC, a financial futures and derivatives trading firm, and he owned a seat on the Chicago Board of Trade. Mr. Fitzgerald received a Bachelor of Science degree from DePaul University, with highest distinction, and an MBA from the Kellogg School of Management, Northwestern University.

Kent hansen

Financial director

Mr. Hansen has been Chief Financial Officer of Kingsway’s subsidiary, Kingsway America Inc., since December 2019 and Executive Vice President and Chief Financial Officer of Kingsway since February 2020. Prior to joining Kingsway, Mr. Hansen was Managing Director and Controller of LSC Communications, Inc. from 2016. to 2019. Prior to that, he served as Vice President, Assistant Controller, of Baxalta, Incorporated, a biopharmaceutical company from 2015 to 2016. Prior to that, he held various positions in finance and accounting from 2006 to 2015 with Scientific Games Corporation (formerly WMS Industries, Inc.), including the SEC Accounting and Reporting Director, Assistant Controller and Group CFO. His previous experience includes roles in accounting and financial reporting at Accenture and as an auditor at Ernst and Young LLP. Mr. Hansen received a BBA from the University of Michigan and holds an MBA from the Kellogg School of Management, Northwestern University.

Pierre Dikeos

President, Trinity Warranty Services

Mr. Peter Dikeos founded Trinity Warranty Inc. in 2009 and was acquired by Kingsway in 2013. Prior to founding Trinity Warranty, Mr. Dikeos was Senior Vice President of Operations for Equiguard, a third party administrator of extended warranties for automotive equipment. HVAC and refrigeration. , 2001-2009. From 1994-2001, Mr. Dikeos was Director of Technology Services for the Culver Educational Foundation. Mr. Dikeos received a Bachelor of Science in Computer Science and Mathematics in 1994 from Anderson University.

Brian Cosgrove

President, Geminus holding company

Mr. Cosgrove has been President of Geminus Holding Company since January 2020. Prior to joining Geminus, Mr. Cosgrove was CRO of One Point Inc. from 2018 to 2020. Prior to that, Mr. Cosgrove was Vice President of Sales at Preferred Warranties Inc . and was appointed President of Preferred from 2014 to 2018. His previous experience includes various leadership roles at Automatic Data Processing for a combined 14 years of service focused on the automotive and insurance channels. Mr. Cosgrove has owned and operated a successful consulting firm for over 13 years focused on sales coaching, leadership development and revenue growth strategies for small and medium businesses. Mr. Cosgrove graduated from the Computer Processing Vocational Institute with a Computer Repair Certificate.

Edmond FielD

President, Preferred Warranties, Inc.

Mr. Field has been President of Senior Guarantees since June 2018 and has successfully navigated senior guarantees through the acquisition of KAR Global from Kingsway in December 2020. Prior to that, Mr. Field spent 17 years working for VW Credit, Inc. (Volkswagen Credit & Audi Financial Services) which is a wholly owned subsidiary of Volkswagen Group America. During his tenure at VW Credit, Inc., Mr. Field has held a number of executive roles ranging from President of VW Protection Services, Director of Product Development and Director of Customer Service for the U.S. Market, as well as roles in sales, business development and finance. In 2001, Mr. Field immigrated to the United States from South Africa where he spent 5 years in the manufacturing sector within the Volkswagen Group South Africa in project management, procurement and engineering roles. logistics. Mr. Field holds a BA in Business Administration from Nelson Mandela Metropolitan University in Port Elizabeth, South Africa.

Tyler gordy

President and CEO, Professional

Warranty service company

Mr. Gordy, President and CEO of PWSC, joined the company in March 2018 as COO to strengthen the leadership team and help roll out the strategy. After spending months planning for succession and positioning the company for growth, he assumed the role of CEO in October 2018. Mr. Gordy leads the organization by creating, communicating and executing the vision, mission and the general direction of the organization, as well as leading the development and implementation of the company’s strategic plan. Prior to his appointment, Mr. Gordy served as an officer in the United States Army and worked for a small private equity fund focused on lower middle market acquisitions. Mr. Gordy holds a Bachelor of Science (BSc) from the US Military Academy at West Point and a Master of Business Administration (MBA) from Harvard Business School.

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Kingsway Financial Services Inc. published this content on 06 October 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 06 October 2021 12:55:05 PM UTC.

Public now 2021

Sales 2020 69.0 million

2020 net income -6.73M

Net debt 2020 257 million

PER 2020 ratio -13.4x
2020 yield
Capitalization 136 million
136 million
VE / Sales 2019 4.24x
VE / Sales 2020 5.22x
Number of employees 239
Free float 67.6%

Duration :


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