Kingsway Financial Services Inc. (Kingsway) is a holding company. Kingsway operates as a merchant bank primarily engaged, through its subsidiaries, in the property and casualty insurance business. The Company operates through two segments. The Insurance Underwriting segment provides non-standard automobile insurance to individuals who do not meet the criteria for coverage by standard automobile insurers. The Insurance Services segment includes the operations of its subsidiaries, such as IWS Acquisition Corporation (IWS) and Trinity Warranty Solutions LLC (Trinity). As of December 31, 2014, the Insurance Underwriting segment conducted business in 15 states of the United States. Its property and casualty insurance business operations are conducted primarily through its subsidiaries, such as Mendota Insurance Company, Mendakota Insurance Company, Universal Casualty Company, Kingsway Amigo Insurance Company and Kingsway Reinsurance Corporation.