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Independence Reports Lower 1st Quarter Net Income

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NU Online News Service, May 1, 11:57 a.m. – Independence Holding Company, Stamford, Conn., is reporting $3.9 million in net income for the first quarter on $39 million in revenue, compared with $4.1 million in net income on $38 million in revenue for the first quarter of 2001.

Independence is a holding company that sells life, health and disability insurance through three main subsidiaries, Standard Security Life Insurance Company of New York, Madison National Life Insurance Company Inc. and First Standard Security Life Insurance Company.