Kingsway Financial Services Inc. (TSX:KFS) said Monday it plans to sell its majority interest in Jevco Insurance Co.

“One of the objectives of the transaction is for Jevco’s financial strength rating to be judged independently of the Kingsway group of companies, which has adversely impacted Jevco’s current standing,” Kingsway said in a release.

Jevco provides a range of specialty insurance including automobile, motorcycle, snowmobile and all-terrain vehicles.

Subject to approval by the Office of the Superintendent of Financial Institutions, Kingsway is intending to relinquish control of Jevco and remain a non-influential investor.

Kingsway Financial Services Inc. focuses on non standard automobile insurance in North America.

IE