X0306 4 2014-12-15 0 0001591890 1347 Property Insurance Holdings, Inc. PIH 0001072627 KINGSWAY FINANCIAL SERVICES INC 150 PIERCE RD ITASCA IL 60143 0 0 1 0 Common Stock 2014-12-15 4 P 0 10900 7.49 A 75000 I By wholly-owned subsidiary Common Stock 1000000 I By wholly-owned subsidiary The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $7.48 to $7.54, inclusive. The reporting person undertakes to provide to 1347 Property Insurance Holdings, Inc., any security holder of 1347 Property Holdings, Inc., or the staff of the Securities and Exchnage Commission, upon request, full informaton regarding the number of shares sold at each separate price within the ranges set forth in footnote (1) to this Form 4. Shares held by the reporting person's wholly-owned subsidiary Universal Casualty Company. Shares held by the reporting person's wholly-owned subsidiary Kingsway America Inc. /s/ Beverly J. Schafman, Attorney-in-Fact 2014-12-16