PORTLAND, Ore. (AP) ¿ Kingsway Financial Services Inc. said Friday that it has completed the sale of Zephyr Insurance Company Inc. for $31.5 million.

The Canadian company sold the specialty property insurance business to Zephyr Acquisition Co., which is part of Ocean Harbor Holding Inc. and MP Holdings, a Hawaiian investor group.

Zephyr was created specifically to protect Hawaii homeowners and residents from catastrophic loss due to hurricanes.

Shares of Kingsway Financial fell 19 cents, or 4.7 percent, to $3.82 in afternoon trading Friday.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More from Stocks

Has Wall Street Completely Lost Its Mind on General Electric?

Has Wall Street Completely Lost Its Mind on General Electric?

Tesla CEO Elon Musk Is Cracking Under Immense Stress and Investors Should Worry

Tesla CEO Elon Musk Is Cracking Under Immense Stress and Investors Should Worry

10 Questions for PayPal Ahead of Its Big Investor Day

10 Questions for PayPal Ahead of Its Big Investor Day

Trump Tariff Threat, Deutsche Bank, Elon Musk and Apple - 5 Things You Must Know

Trump Tariff Threat, Deutsche Bank, Elon Musk and Apple - 5 Things You Must Know

High-Flying Mutual Funds Begin to Favor Energy but Tech Still Reigns Supreme

High-Flying Mutual Funds Begin to Favor Energy but Tech Still Reigns Supreme