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.
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