Kingsway Agrees To Acquire Hamilton Investments

Kingsway Financial Services Inc. has signed a binding share purchase agreement to acquire Hamilton Investments, Inc. of Miami, FL. The transaction is expected to be completed during the fourth quarter of 1998.

Hamilton Investments is a privately-owned holding company that owns all of the shares of U.S. Security Insurance Company, Appco Finance Corporation, Insurance Management Services, Inc., Corporate Claims Services, Inc. and Auto Body Tech, Inc.

"The acquisition of Hamilton is a continuation of our diversification strategy of acquiring profitable, well-run organizations involved in our core lines of business," says Bill Star, president and chief executive officer, Kingsway. "This strategy is currently focused on the United States, where acquisitions completed earlier this year have significantly appreciated in value through internal growth and the strengthening of the U.S. dollar."

Following the acquisition, Kingsway intends to operate Hamilton as an independent subsidiary under Kingsway America Inc., and to retain all existing Hamilton employees. Roberto Espin, Jr. will remain as president, CEO and chairman of Hamilton.