Independence Holding Company, through its Madison National Life and Standard Security Life subsidiaries, is a leading acquirer of insurance blocks. In 1999, we completed our largest acquisitions to date totaling $180 million of net reserves. We are actively seeking additional large blocks.
The Company has assembled a team of senior executives that is responsible for identifying, analyzing, acquiring and administering blocks of insurance business. This group is led by Larry R. Graber, President of Madison National Life, who has over 25 years experience in insurance acquisitions, and is recognized as one of the foremost experts in the United States. His team is comprised of 27 employees, including two actuaries, a chartered financial analyst, a certified public accountant, three Information Technology ("IT") personnel and over twenty policyowners services employees. The Company also employs three attorneys, a tax advisor, a bond analyst and many accounting and financial professionals. We have heavily invested in advanced systems, and we are committed to continually upgrading IT so as to be able to efficiently convert and administer even the most sophisticated policies.