Independence Holding Company (IHC)

Colvin65 (< 20) Submitted: 5/05/08 1:38 PM : Start Price: $14.64 IHC Score: -29.40

American Independence Corp. AMIC today announced that it has significantly expanded its ability to sell individual and limited medical plans to the self-employed, under-insured and uninsured markets through the acquisition of the assets of Insurance Producers Group of America, Inc. and its operating subsidiaries. AMIC owns a 51% interest in the company resulting from the acquisition, which has been renamed Independent Producers of America, LLC ("IPA"). IPA operates under a controlled career agent distribution model in which independent producers sell products approved by IPA and AMIC. It is expected that, within 12 months, the majority of the premium generated will be placed through Independence American Insurance Company ("Independence American"), AMIC's insurance carrier subsidiary, although it is anticipated that in certain states (and for certain ancillary benefits) other carriers (including those owned by Independence Holding Company ("IHC")) will also be utilized. IHC will also benefit through its 49.7% ownership interest in AMIC, and Independence American will cede a portion of the premium it generates from IPA to one of IHC's insurance companies.

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