August 14, 2009 at 08:00 PM
A health insurance company and an affiliate released second-quarter results this week.
Independence Holding Company, Stamford, Conn.
2 Q 2009 Results
NET INCOME: $2 million
TOTAL OTHER-THAN-TEMPORARY INVESTMENT LOSSES: nil
REVENUE: $101 million
2 Q 2008 Results
NET INCOME: $6.7 million loss
TOTAL OTHER-THAN-TEMPORARY INVESTMENT LOSSES: $17 million loss
REVENUE: $89 million
- IHC sells health insurance and medical stop-loss arrangements. Because of the effects of the economy, the company “initiated significant cost reductions in the fully insured division, which will be largely realized beginning in 2010.”
- A rebound in the stock market helped increase book value to $12.70 per share June 30, from $10.56 Dec. 31, 2008.
American Independence Corp., New York
2 Q 2009 Results
NET INCOME: $471,000
REVENUE: $27 million
2 Q 2008 Results
NET INCOME: $784,000
REVENUE: $29 million
- American Independence, an affiliate of IHC, sells health insurance, medical stop-loss, and managed care insurance and reinsurance through managing general underwriters.
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