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.