(800) 356.9601
INDEPENDENCE HOLDING COMPANY 96 CUMMINGS POINT ROAD
STAMFORD, CONNECTICUT 06902
NYSE: IHC
CONTACT: TERESA A. HERBERT
203-358-8000
STAMFORD, CONNECTICUT 06902
NYSE: IHC
CONTACT: TERESA A. HERBERT
203-358-8000
NEWS RELEASE
INDEPENDENCE HOLDING COMPANY ANNOUNCES PURCHASE OF BLOCK OF AMERICAN INDEPENDENCE CORP. SHARES
INDEPENDENCE HOLDING COMPANY ANNOUNCES PURCHASE OF BLOCK OF AMERICAN INDEPENDENCE CORP. SHARES
Stamford, Connecticut, April 15, 2005. Independence Holding Company (NYSE: IHC) announced that today it purchased 162,000 shares of the common stock of American Independence Corp. (NASDAQ: AMIC) for $2,081,700. This brings IHC’s ownership of AMIC to 3,546,685 shares or approximately 42% of the outstanding common stock.
Mr. Roy T.K. Thung, Chief Executive Officer, commented “We are pleased that we increased our ownership of American Independence Corp to 42%. AMIC is an insurance holding company which owns managing general underwriters (MGUs) that produce the majority of IHC’s medical stop-loss business and an insurance company that is IHC’s largest reinsurer.”
About Independence Holding Company
IHC is a holding company principally engaged in the life and health insurance business and the acquisition of blocks of policies through its subsidiaries, Standard Security Life Insurance Company of New York, Madison National Life Insurance Company, Inc. and Strategic Health Associates Inc., and its affiliate, AMIC. Standard Life markets medical stop-loss, long-term and short-term disability, employer-sponsored group major medical, short-term medical, group life and managed health care products. Madison Life sells group life and disability, employer medical stop-loss, credit life and disability and individual life insurance. AMIC is a holding company principally engaged in the insurance and reinsurance business through Independence American Insurance Company and its employer medical stop-loss and managed care managing general underwriters.
IHC is a holding company principally engaged in the life and health insurance business and the acquisition of blocks of policies through its subsidiaries, Standard Security Life Insurance Company of New York, Madison National Life Insurance Company, Inc. and Strategic Health Associates Inc., and its affiliate, AMIC. Standard Life markets medical stop-loss, long-term and short-term disability, employer-sponsored group major medical, short-term medical, group life and managed health care products. Madison Life sells group life and disability, employer medical stop-loss, credit life and disability and individual life insurance. AMIC is a holding company principally engaged in the insurance and reinsurance business through Independence American Insurance Company and its employer medical stop-loss and managed care managing general underwriters.