Exhibit 99.1

News release via Canada NewsWire, Toronto 416-863-9350

	    Attention Business Editors:
	    Kingsway announces A.M. Best rating downgrades

	    TORONTO, Nov. 24 /CNW/ - Kingsway Financial Services Inc. ("Kingsway")
announced today that A.M. Best has downgraded Kingsway's issuer credit rating
from "b-" to "ccc" and the downgrade of the financial strength ratings from
"B" to "B-" for American Service Insurance Company Inc., JEVCO Insurance
Company, Mendakota Insurance Company, Mendota Insurance Company, Southern
United Fire Insurance Company, U.S. Security Insurance Company, Inc. and
Universal Casualty Company. The financial strength rating for American Country
Insurance Company remains unchanged at "B-". Kingsway is disappointed by the
decision of A.M. Best and will continue to work with them to improve the
ratings of the group.

	    About the Company

	    Kingsway Financial Services Inc. ("Kingsway" or the "Company") focuses on
non standard automobile insurance in North America. Kingsway's primary
businesses are the insuring of automobile risks for drivers who do not meet
the criteria for coverage by standard automobile insurers, and commercial
automobile insurance. The Company operates through wholly-owned insurance
subsidiaries in Canada and the U.S. which it is currently consolidating to
reduce overhead and strengthen its competitive position.
	    The common shares of Kingsway Financial Services Inc. are listed on the
Toronto Stock Exchange and the New York Stock Exchange, under the trading
symbol "KFS".

	    %SEDAR: 00003152E          %CIK: 0001072627

	    /For further information: /
	    (KFS. KFS)

CO:  Kingsway Financial Services Inc.

CNW 11:27e 24-NOV-09