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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. N/A )*
Kingsway Financial Services Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
496904103
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(CUSIP Number)
December 31, 2003
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[x] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP No. 496904103
1. Names of Reporting Persons. TD Asset Management Inc. (a wholly-owned
subsidiary of TD Bank Financial Group) I.R.S. Identification Nos. of
above persons (entities only).
____________________________________________________________________
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) _______________________________________________________________
(b) _______________________________________________________________
3. SEC Use Only ______________________________________________________
4. Citizenship or Place of Organization Canada
Number of 5. Sole Voting Power 3,154,640
Shares
Beneficially 6. Shared Voting Power
Owned by
Each Reporting 7. Sole Dispositive Power 3,154,640
Person With
8. Shared Dispositive Power
9. Aggregate Amount Beneficially Owned by Each Reporting Person
3,154,640
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
____________________________________________________________________
11. Percent of Class Represented by Amount in Row (9) 5.65%
12. Type of Reporting Person (See Instructions) CO
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Item 1.
(a) Name of Issuer: Kingsway Financial Services Inc.
(b) Address of Issuer's Principal Executive Offices: 5310 Explorer
Drive, Mississauga, ON, L4W 5H8, Canada
Item 2.
(a) Name of Person Filing: TD Asset Management Inc.
(b) Address of Principal Business Office or, if none, Residence:
Canada Trust Tower, BCE Place, 161 Bay Street, 35th Floor,
Toronto, Ontario, M5J 2T2
(c) Citizenship: TD Asset Management Inc. is a corporation organized
under the laws of the province of Ontario
(d) Title of Class of Securities: Common Stock
(e) CUSIP Number: 496904103
ITEM 3. If this statement is filed pursuant to ss.ss.240.13d-1(b) or
240.13d-2(b) or (c), check whether the person filing is a:
(a) [ ] Broker or dealer registered under section 15 of the Act (15
U.S.C. 78o).
(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C.
78c).
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act
(15 U.S.C. 78c).
(d) [ ] Investment company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e) [ ] An investment adviser in accordance with ss.240.13d-1(b)(1)
(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with
ss.240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with
ss.240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings associations as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j) [ ] Group, in accordance with ss.240.13d-1(b)(1)(ii)(J).
ITEM 4. Ownership.
Provide the following information regarding the aggregate number and percentage
of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned: 3,154,640.
(b) Percent of class: 5.65%.
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote 3,154,640.
(ii) Shared power to vote or to direct the vote _______________.
(iii) Sole power to dispose or to direct the disposition of
3,154,640.
(iv) Shared power to dispose or to direct the disposition of
_______________.
Instruction. For computations regarding securities which represent a right to
acquire an underlying security see ss.240.13d3(d)(1).
ITEM 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date hereof
the reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities, check the following [ ].
Instruction: Dissolution of a group requires a response to this item.
N/A
ITEM 6. Ownership of More than Five Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct
the receipt of dividends from, or the proceeds from the sale of, such
securities, a statement to that effect should be included in response to this
item and, if such interest relates to more than five percent of the class, such
person should be identified. A listing of the shareholders of an investment
company registered under the Investment Company Act of 1940 or the beneficiaries
of employee benefit plan, pension fund or endowment fund is not required.
N/A
ITEM 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company or
Control Person.
If a parent holding company or Control person has filed this schedule, pursuant
to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an exhibit
stating the identity and the Item 3 classification of the relevant subsidiary.
If a parent holding company or control person has filed this schedule pursuant
to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification
of the relevant subsidiary.
N/A
ITEM 8. Identification and Classification of Members of the Group
If a group has filed this schedule pursuant to ss.240.13d-1(b)(1)(ii)(J), so
indicate under Item 3(j) and attach an exhibit stating the identity and Item 3
classification of each member of the group. If a group has filed this schedule
pursuant to ss.240.13d-1(c) or ss.240.13d-1(d), attach an exhibit stating the
identity of each member of the group.
N/A
ITEM 9. Notice of Dissolution of Group
Notice of dissolution of a group may be furnished as an exhibit stating the date
of the dissolution and that all further filings with respect to transactions in
the security reported on will be filed, if required, by members of the group, in
their individual capacity. See Item 5.
N/A
ITEM 10. Certification
(a) The following certification shall be included if the statement is
filed pursuant toss.240.13d-1(b):
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are
held in the ordinary course of business and were not acquired and
are not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were
not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
(b) The following certification shall be included if the statement is
filed pursuant toss.240.13d-1(c):
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and
are not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were
not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
June 16, 2004
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Date
Barbara J. Callbeck
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Signature
Managing Director, TDAM Risk Management
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Name/Title