Kingsway Financial Services

Kingsway Financial Services Inc is one of the largest non-standard automobile insurers and truck insurers in North America based on AM.

Launch date

1989

Employees

Market cap

Enterprise valuation

AUD396m (Public information from Sep 2024)

Toronto Ontario (HQ)

http://kingsway-financial.com

https://www.linkedin.com/company/kingsway-financial-services-inc./

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Revenues, earnings & profits over time

USD	2017	2018	2019	2020	2021	2022	2023
Revenues	46.5m	54.0m	63.2m	65.7m	94.8m	115m	108m
% growth	-	16 %	17 %	4 %	44 %	21 %	(6 %)
EBITDA	(13.0m)	(4.0m)	11.0m	12.0m	13.0m	7.0m	8.6m
% EBITDA margin	(28 %)	(7 %)	17 %	18 %	14 %	6 %	8 %
Profit	(15.7m)	(30.1m)	(5.9m)	(6.7m)	(<1m)	24.7m	23.6m
% profit margin	(34 %)	(56 %)	(9 %)	(10 %)	-	22 %	22 %
EV / revenue	6.7x	5.6x	4.6x	5.5x	4.3x	2.0x	2.5x
EV / EBITDA	-23.8x	-75.7x	26.3x	30.0x	31.2x	32.8x	31.6x

Date	Investors	Amount	Round
May 1998	N/A	N/A	IPO
Jul 2001	N/A	N/A	IPO
Nov 2016	N/A	$10.5m	Post IPO Equity
Oct 2021*	Avidbank Holdings	$11.4m	Post IPO Debt
Total Funding		-

CSuite Financial Partners

ACQUISITION by Kingsway Financial Services Nov 2022

ACQUISITION by Kingsway Financial Services Sep 2023

Digital Diagnostics Imaging

ACQUISITION by Kingsway Financial Services Oct 2023