SCHEDULE 13D/A

Kingsway Financial Services Inc

Common Shares, no par value · CUSIP: 496904202

Event date: 2025-12-11

Reporting persons may disclose overlapping interests. Their amounts are shown individually and are not added into a filing total.

Filing-level shares

Unavailable

Percent of class

Unavailable

• Stilwell Activist Fund, L.P.Reported CIK 0001564452

  Shares: 5,463,502.00 · Class: 18.8%

• Stilwell Activist Investments, L.P.Reported CIK 0001573720

  Shares: 5,463,502.00 · Class: 18.8%

• STILWELL ASSOCIATES L PReported CIK 0000913960

  Shares: 5,463,502.00 · Class: 18.8%

• Stilwell Value Partners VII, L.P.Reported CIK 0001555931

  Shares: 5,463,502.00 · Class: 18.8%

• Stilwell Value LLCReported CIK 0001397076

  Shares: 5,463,502.00 · Class: 18.8%

• STILWELL JOSEPHReported CIK 0001113303

  Shares: 5,463,502.00 · Class: 18.8%

Amounts are as disclosed in this filing. Schedule type alone does not establish investment intent.