Independence (NYSE:IHC)
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American Independence Corp. (NASDAQ: AMIC) presided over the closing
bell at the NASDAQ stock market August 6, marking the company’s
expansion into individual health insurance.
“Through the acquisition of Independent
Producers of America, LLC (IPA), we are now positioned for rapid
expansion in the growing market for health plans for individuals and
families. At IPA, we are committed to making health coverage available
to Americans who are currently uninsured,”
said Roy T.K. Thung, chief executive officer and president of AMIC.
“At AMIC, we are striving to become an
innovator in providing affordable health insurance solutions. NASDAQ is
already recognized as one of the most innovative companies in the world,
which makes this the perfect venue for us to welcome a new member to the
AMIC family,” said Thung. He also thanked IPA
leadership and AMIC’s loyal shareholders.
Information about the NASDAQ closing bell ceremony and a high-resolution
photograph of the AMIC event is available at http://www.nasdaq.com/reference/200808/market_close_080608.stm
About American Independence Corp. (AMIC)
AMIC, through Independence American Insurance Company and its other
subsidiaries, offers health insurance solutions to individuals and
employer groups. AMIC provides to the individual and self-employed
markets health insurance and related products, which are distributed
through its subsidiaries, Independent Producers of America, LLC and
healthinsurance.org, LLC. AMIC markets medical stop-loss, small group
major medical, and managed care insurance and reinsurance through
managing general underwriters, including IndependenceCare Holdings LLC,
Marlton Risk Group LLC and Risk Assessment Strategies, Inc.
About Independent Producers of America (IPA)
IPA provides quality health insurance products that are specifically
tailored to meet the benefit and budget needs of middle-income America.
Products include HSA-qualified high-deductible health plans, major
medical insurance, simplified medical issue plans, short-term medical
and additional health, life and critical illness products that meet
nearly every price point.
About the IHC Group
The IHC Group is an insurance organization composed of Independence
Holding Company (NYSE: IHC) and it’s operating
subsidiaries, (Standard Security Life Insurance Company of New York and
Madison National Life Insurance Company, Inc.), its affiliate (American
Independence Corp. (NASDAQ: AMIC), and its managing general
underwriters, third-party administrators, and marketing affiliates.
Forward-Looking Statements
Certain statements and materials contained in this news release may be
considered "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, such as statements
relating to IHC's and AMIC's views with respect to future events and
financial performance. Such forward-looking statements are subject to
risks, uncertainties and other factors that could cause actual results
to differ materially from historical experience or from future results
expressed or implied by such forward-looking statements. Potential risks
and uncertainties include, but are not limited to, economic conditions
in the markets in which IHC and AMIC operate, new federal or state
governmental regulation, and other factors which can be found in IHC's
and AMIC's other news releases and filings with the Securities and
Exchange Commission.