KINGSWAY SEARCH XCLERATOR ANNOUNCES ADDITION OF PETER HEARNE AND CHARLES JOYCE

CHICAGO, May 2, 2023 /PRNewswire/ - (NYSE: KFS) Kingsway Financial Services Inc. ("Kingsway" or the "Company") today announced that Peter Hearne and Charles Joyce have joined its innovative Kingsway Search Xclerator ("KSX") segment. Mr. Hearne joins as the newest Operator-in-Residence, while Mr. Joyce joins as the KSX Vice President of Business Development, a newly created position.

"We are excited to welcome Peter and Charles to the KSX team," said John T. Fitzgerald, the President and Chief Executive Officer of Kingsway. "As we continue to invest in quality businesses and expand our innovative KSX program, we are excited to have Peter on board to help find our next great company. We are also thrilled to announce a new position – VP of Business Development – and to have Charles contribute his experience to all the OIRs in sourcing and evaluating acquisitions across a diverse range of industries."

Prior to joining Kingsway, Peter was a Principal at Centerview Partners where he advised companies across a broad range of industries on key strategic and financial matters, including mergers and acquisitions. Before joining Centerview, he was a management consultant at McKinsey & Company where he provided counsel to senior executives on strategic growth and operations challenges. His earlier experience includes roles in capital markets and investment banking at Credit Suisse. Peter started his career as a teacher and coach in Teach for America New Orleans. Mr. Hearne holds a JD from the Pritzker School of Law at Northwestern University, an MBA from the Kellogg School of Management at Northwestern University and a BA from Cornell University.

Charles joins Kingsway from Forest Circle LLC - a Search investment firm - where, as Principal and Chief Executive Officer, he was responsible for sourcing and evaluating investment opportunities. Prior to Forest Circle, he served as Senior Associate for Dorilton Capital - a NY-based private equity firm - where he supported diligence, integration, and value creation for Dorilton's portfolio of B2B and healthcare service businesses. Additionally, Charles served as Manager for OnDeck Capital, where he supported strategic initiatives including acquisitions and business development. Charles' previous experience also includes multiple roles with General Electric held between 2011 – 2016, primarily focused on performance improvement, audit, and risk management. Charles holds a BA from Georgetown University and an MBA from Harvard Business School.  

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).

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.

SOURCE Kingsway Financial Services Inc.

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