Independence Holding Company (IHC) has acquired additional shares of common stock of American Independence Corporation (AMIC) through open-market transactions. The acquisition brings the company's aggregate holdings to over 50% of the total outstanding shares of AMIC.
As per the transaction, AMIC will be a majority-owned subsidiary of Independence Holding Company and beginning with the 2010 first-quarter results, IHC will consolidate AMIC in its reported financial results.
IHC is a holding company engaged in the life and health insurance business and the acquisition of blocks of policies through its insurance company subsidiaries, managing general underwriters, third-party administrators, and marketing affiliates.
Headquartered in New York, American Independence is an insurance and reinsurance holding company specializing in health insurance.