CHICAGO, June 12,
2023 /CNW/ - (NYSE: KFS) Kingsway Financial
Services Inc. ("Kingsway" or the "Company") is set to join
the broad-market Russell 3000â Index and the small-cap Russell
2000â Index at the conclusion of the 2023 Russell indexes
annual reconstitution, effective after the US market opens on
June 26, according to a preliminary
list of additions posted May 19.
Annual Russell indexes reconstitution captures the 4,000 largest
US stocks as of April 28, ranking
them by total market capitalization. Membership in the US all-cap
Russell 3000â Index, which remains in place for one year,
means automatic inclusion in the large-cap Russell 1000® Index or
small-cap Russell 2000â Index as well as the appropriate
growth and value style indexes. FTSE Russell determines membership
for its Russell indexes primarily by objective,
market-capitalization rankings and style attributes.
"Inclusion in the broadly referenced Russell index will bring us
increased exposure to a larger audience of potential new investors
and is a great next step in the evolution and growth of Kingsway,"
said John T. Fitzgerald, President
and Chief Executive Officer of Kingsway Financial Services. "By
continuing to grow and improve our portfolio of businesses both
organically and by acquisition through our Search Xcelerator
program, we seek to realize attractive returns on the capital we
invest and ultimately deliver attractive returns for our
shareholders."
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $20.1 trillion is currently benchmarked to FTSE
Russell indexes. Russell indexes are part of FTSE Russell, a
leading global index provider.
For more information on the Russell 3000® Index and the Russell
indexes reconstitution, go to the "Russell Reconstitution" section
on the FTSE Russell website.
About the Company
Kingsway is a holding company that owns or controls subsidiaries
primarily in the extended warranty and business services
industries. The common shares of Kingsway are listed on the New
York Stock Exchange under the trading symbol "KFS."
The Company serves the extended warranty industry through its
operating subsidiaries IWS (iwsgroup.com), Penn Warranty
(pennwarranty.com), Preferred Warranties (preferredwarranties.com)
and Trinity Warranty Solutions (trinitywarranty.com).
The Company serves the business services industry through its
operating subsidiaries CSuite (csuitefinancialpartners.com), Ravix
(ravixgroup.com) and Secure Nursing Service
(securenursing.com).
Forward-Looking
Statements
This press release and/or Shareholder Letter may include
"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 that are not historical facts and involve
risks and uncertainties that could cause actual results to differ
materially from those expected and projected. Words such as
"expects," "believes," "anticipates," "intends," "estimates,"
"seeks" and variations and similar words and expressions are
intended to identify such forward-looking statements; however, the
absence of any such words does not mean that a statement is a not a
forward-looking statement. Such forward-looking statements relate
to future events or future performance, but reflect Kingsway
management's current beliefs, 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. For information identifying important factors that
could cause actual results to differ materially from those
anticipated in the forward-looking statements, please refer to the
section entitled "Risk Factors" in the Company's 2022 Annual Report
on Form 10-K and subsequent Form 10-Qs and Form 8-Ks filed with the
Securities and Exchange Commission. Except as expressly required by
applicable securities law, the Company disclaims any intention or
obligation to update or revise any 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
Annual Reports can be accessed on the EDGAR section of the U.S.
Securities and Exchange Commission's website at www.sec.gov, on the
Canadian Securities Administrators' website at www.sedar.com, or
through the Company's website at www.kingsway-financial.com.
Contact
Information
Hayden IR
James
Carbonara
(646)
755-7412
james@haydenir.com
|
Kingsway Financial
Services Inc.
Kent Hansen,
CFO
(312)
766-2163
khansen@kingsway-financial.com
|
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SOURCE Kingsway Financial Services Inc.