Kingsway General Insurance Co., a subsidiary of Kingsway Financial Services, has acquired the renewal rights for AXA Canada subsidiaries’ long-haul trucking portfolio in Canada. The portfolio, made up of fleet business with 10 or more vehicles, produced annual premiums of $23 million in 1999. AXA will stop offering renewal policies effective July 1, 2000.
Existing AXA brokers will have access to the coverages offered by Kingsway General and Kingsway General will pay an overriding commission to AXA based on the amount of business that Kingsway retains. Kingsway’s premiums from long-haul trucking and other commercial auto classes were $85.9 million in 1999.
Canada-based Kingsway also operates in the U.S. through several subsidiaries including Universal Casualty Co., American Service Ins. Co. Southern United Fire Ins. Co. and Walshire Assurance Co.
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