Kingsway Financial Services has appointed Larry Swets, formerly executive vice president of corporate development at the company, as the new chief executive officer and president.

Mr Swets succeeds Colin Simpson who resigned to pursue other career interests. Mr Simpson will remain on the company’s board of directors.

Prior to joining Kingsway Financial, Mr Swets served as managing member for Itasca Financial from June 2005 until December 2009. He was also acting CFO of Risk Enterprise Management, from November 2007 until December 2009.

Mr Swets has also served as director of investments for Kemper Insurance between 1997 and 2005. Presently, he is also engaged as managing member of Fund Management Group.

Kingsway Financial Services provides automobile insurance in the US. The company’s primary businesses are the insuring of automobile risks for drivers who do not meet criteria for coverage by standard automobile insurers.