BOCA RATON, Fla. (11/20/12)--Intercontinental Warranty Services Inc. (IWS), a provider of after-market vehicle protection services to credit unions nationwide, will sell certain assets to a Kingsway Financial Services Inc. affiliate.
Current management, led by James H. Hawk, IWS president/CEO, will remain in place.
IWS provides vehicle service agreements, mechanical breakdown insurance, and guaranteed asset protection to credit unions' members in conjunction with their auto loans.
Kingsway owns several companies connected with the insurance industry and specializes in helping them build value. It will rely on the IWS management team to ensure continuity and maintain its relationships with existing credit union clients while continuing to grow its business, said Larry G. Swets Jr., Kingsway CEO.
The change of ownership will be essentially transparent to client credit unions, but enhancements will include a broader product line, greater staff resources, and improved technology, Hawk said.