Roy T.K. Thung has responded to a drop in the price of the stock of Independence Holding Company by spending $520,000 to buy 40,000 IHC shares.
Thung, chief executive officer of IHC, Stamford, Conn., a health insurer and stop-loss company, says the company is doing well.
IHC shares are now selling for less than $14, down from a 52-week high of more than $24.