Independence Holding Company Announces Continuation of Providing Liquidity to Its Stockholders
June 11 2020 - 4:15PM
Independence Holding Company (NYSE: IHC) (“IHC” or the “Company”)
has resumed purchasing its shares of common stock in open market
transactions under its stock repurchase program (“Repurchase
Program”) now that the ten business day period after the expiration
of its recent tender offer to purchase up to 1,000,000 shares has
expired. The intent of the tender offer was to provide
liquidity to stockholders seeking to sell their shares of stock,
and IHC remains committed to continuing to provide such liquidity
even after completion of the tender offer.
Under the current Repurchase Program, IHC may
repurchase up to 1,659,208 shares of its common stock, from time to
time, in the open market subject to applicable rules. In addition,
IHC may repurchase shares under the Repurchase Program through
privately negotiated transactions.
About The IHC Group
Independence Holding Company (NYSE: IHC), formed
in 1980, is a holding company that is principally engaged in
underwriting, administering and/or distributing group and
individual specialty benefit products, including disability,
supplemental health, pet, and group life insurance through its
subsidiaries (Independence Holding Company and its subsidiaries
collectively referred to as “The IHC Group”). The IHC Group
consists of three insurance companies (Standard Security Life
Insurance Company of New York, Madison National Life Insurance
Company, Inc. and Independence American Insurance Company). We also
own the following agencies: (i) PetPartners, Inc., our pet
insurance administrator; (ii) IHC Specialty Benefits, Inc., a
technology-driven full-service marketing and distribution company
that focuses on small employer and individual consumer products
through its call center, career agents, and Independence Brokerage
Group; and (iii) The INSX Cloud Platform through My1HR, our wholly
owned Web Based Entity. Our InsureTech division is comprised of our
call centers, field and career agents, in-house MarTech artificial
intelligence capabilities and domains, including
www.healthedeals.com; www.healthinsurance.org;
www.medicareresources.org; www.petplace.com; and
www.mypetinsurance.com.
Forward-looking Statements
Certain statements and information contained in
this release may be considered “forward-looking statements,” such
as statements relating to management's views with respect to future
events and financial performance. Such forward-looking
statements are subject to risks, uncertainties and other factors
that could cause actual results to differ materially from
historical experience or from future results expressed or implied
by such forward-looking statements. Potential risks and
uncertainties include, but are not limited to, economic conditions
in the markets in which IHC operates, new federal or state
governmental regulation, IHC’s ability to effectively operate,
integrate and leverage any past or future strategic acquisition,
and other factors which can be found in IHC’s other news releases
and filings with the SEC. IHC expressly disclaims any duty to
update its forward-looking statements unless required by applicable
law.
CONTACT: Loan Nisser |
(646) 509-2107 |
www.IHCGroup.com |
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