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Posted AT 5:23 PM EST on 25/08/08

Kingsway sells York insurance unit for $50-million

The Canadian Press

TORONTO — Kingsway Financial Services Inc. said Monday it has signed a deal to sell York Fire and Casualty Insurance Co. to La Capitale General Insurance Inc. for $95-million. Kingsway said it expects to record a gain before taxes of about $50-million on the deal. York writes standard personal lines automobile and property insurance in Ontario and Alberta.

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