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Independence Holding Company Announces Acquisition of Actuarial Management Corporation

Posted on: Monday, 2 April 2007, 18:00 CDT

Independence Holding Company (NYSE: IHC) today announced that it has closed on the previously announced acquisition of Actuarial Management Corporation ("AMC"). AMC is a leading, full-service actuarial firm headquartered in Concord, CA that focuses on fully insured health coverage for small groups, individuals and families, short-term medical and employer medical stop-loss. AMC is responsible for all actuarial aspects of IHC's entire book of fully insured health business, but will remain an independent business unit providing services and resources to clients outside the IHC Group of Companies. AMC's team of 19 professionals has extensive experience providing clients in the health insurance industry with development and management services, underwriting and benefit design review, data reporting, compliance support and strategic and tactical management services. Bernon R. ("Bernie") Erickson, Jr. will continue as CEO and President of AMC, in addition to his role as Senior Vice President and Chief Health Actuary of IHC.

Roy T.K. Thung, IHC's Chief Executive Officer, commented, "The acquisition of AMC insures that IHC has a dedicated staff of seasoned actuarial professionals who are experts in fully insured health. Adding AMC to the IHC Group of Companies positions us for the growth we anticipate in IHC's fully insured lines and allows us efficiently to monitor the profitability of that part of IHC's business. Additionally, AMC will bring to bear its experience and resources on our core medical stop-loss line of business."

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 insurance company 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. Standard Security Life markets medical stop-loss, small group major medical, short-term medical, major medical for individuals and families, limited medical, group long and short-term disability and life, dental, vision and managed health care products. Madison Life sells group life and disability, employer medical stop-loss, small group major medical, major medical for individuals and families, short-term medical, dental, vision, 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 managing general underwriter division.

Forward-Looking Information

Certain statements and materials contained in this news release may be considered "forward-looking statements," such as statements relating to management'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 we operate, new federal or state governmental regulation, our ability effectively to operate, integrate and leverage any past or future strategic acquisition, and other factors which can be found in our other news releases and our filings with the Securities and Exchange Commission.

Source: Business Wire

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