What’s New: In Brief (July 10, 2007)

Kingsway Financial Services Inc. (TSX: KFS) and its newly formed subsidiary Kingsway 2007 General Partnership (KGP) announced the closing of the public offering of Cdn$1 million prinicipal amount of 6% senior unsecured debentures of KGP.
The debentures were sold through a syndicate of underwriters led by Scotia Capital Inc. and including RBC Dominion Securities Inc., a KFS release says.
The net proceeds of the offering amount to approximately $99 million, after application of the underwriters discount and commission, and are expected to be used to provide additional capital to Kingsway and its indirect and direct subsidiaries to support the expected growth of business and for general corporate purposes, which will include the payment of approximately US$93 million [approximately Cdn$98 million], the statement adds.

Robert (Rob) Lee has been promoted to managing director of MINT Canadian Specialty.
The past three of Lees 30-year career have been with MINT, serving as director of underwriting.
Lees career includes experience in retail brokerage, facultative reinsurance and casualty and professional liability underwriting. Prior to joining MINT Canadian Specialty, he served in underwriting and management positions for U.S.-based Markel Corporation subsidiary Shand, Morahan & Company, a MINT release says.
I am looking forward to building on our successes to date in the Canadian market, Lee said in a statement.
We will continue to increase the range and scope of our innovative specialty and niche products, building on such offerings as Outbreak Extra Expense coverage and Latitude Advantage MD, which are unique in this country.