Unnamed Analyst's questions to Kingsway Financial Services Inc (KFS) leadership • Q1 2025
Question
An analyst asked for Kingsway's definition of a 'platform' and which new industries might be targeted for future platform creation.
Answer
Executive John Fitzgerald explained that the company targets 'Rule of 10' industries—those with lower organic growth, high recurring revenue, and significant fragmentation—as attractive platforms for inorganic growth. He cited insurance brokerage, wealth management (RIA), and accounting services as compelling examples. Fitzgerald emphasized that a successful platform requires both a great industry and a strong 'operator fit' with one of Kingsway's Operators in Residence.