Pennsylvania insurance regulator appeals court ruling that green-lights Kingway’s disposition of Lincoln shares

The Pennsylvania Insurance Department filed a notice of appeal to the Pennsylvania Supreme Court on Apr. 30, 2010, saying it intends to challenge the Commonwealth Court of Pennsylvania’s decision to dismiss all claims against Kingsway and Kingsway America Inc.The Commonwealth Court found in April 2010 that Kingsway’s donation of its indirect interest in Lincoln General to 20 different charities last October did not violate Pennsylvania insurance laws and did not require the approval of the Pennsylvania Department of Insurance (DOI).In filing its appeal, DOI maintains that insurance holding company laws in the state require the insurance department’s approval of any change of control. Kingsway confirmed it will oppose the DOI’s appeal.