Welcome to our dedicated page for IHC news (Ticker: IHC), a resource for investors and traders seeking the latest updates and insights on IHC stock.
Independence Holding Company (IHC), established in 1980, is a holding company specializing in underwriting, administering, and distributing a variety of group and individual specialty benefit products. These include disability, supplemental health, pet, and group life insurance. The company operates through its subsidiaries, collectively known as The IHC Group, which comprises three insurance companies: Standard Security Life Insurance Company of New York, Madison National Life Insurance Company, Inc., and Independence American Insurance Company.
IHC also owns several agencies, including PetPartners, Inc., and IHC Specialty Benefits, Inc., which is a technology-driven full-service marketing and distribution company. This agency focuses on products for small employers and individual consumers through its call center, career agents, and Independence Brokerage Group. The company's InsureTech division includes call centers, field and career agents, in-house MarTech artificial intelligence capabilities, and domains such as healthedeals.com, healthinsurance.org, medicareresources.org, petplace.com, and mypetinsurance.com.
In a recent development, the ASPCA® Pet Health Insurance program, an arm of IHC, announced a giveaway to make Thanksgiving more pet-friendly. The program will provide Thanksgiving meals and toys for pets and donate $10,000 to a shelter chosen by the winner. This initiative aims to raise awareness about the rising costs of veterinary care and the importance of pet insurance.
Moreover, IHC has formed a strategic relationship with Fear Free®, LLC to enhance pet insurance accessibility and education. Fear Free has trained over 265,000 pet industry professionals on reducing pets' fear, anxiety, and stress. This alliance aims to provide best-in-class content to support both the physical and emotional well-being of pets.
Financially, IHC maintains a robust and stable portfolio with diversified revenue streams from its wide range of insurance products and InsureTech ventures. The company's aggressive approach to leveraging technology and expanding its market reach continues to bolster its financial health and growth outlook.
Independence Holding Company (NYSE: IHC) has successfully completed its merger with Geneve Acquisition Corp as of February 15, 2022. At a special stockholder meeting, a majority of votes approved the merger, with shareholders receiving $57.00 per share in cash, effectively ending their stockholder rights. The Company will be delisted from the New York Stock Exchange, and a final dividend of $0.06 per share will be paid to stockholders of record on February 15, 2022. The merger marks a significant step as IHC becomes an indirect wholly-owned subsidiary of Geneve.
Independence Holding Company (IHC) has announced a prorated dividend of $0.06 per share, contingent upon the successful merger with Geneve Acquisition Corp. Shareholders must hold their shares through the merger closing to qualify for the dividend, payable on February 22, 2022, if approvals are granted at the special meeting on February 15, 2022. The actual dividend amount is subject to a formula based on the number of days between the last regular dividend payment and the merger closing date. Shareholder approval and market conditions pose risks to the merger's completion.
Independence Holding Company (NYSE: IHC) has successfully completed the sale of its subsidiary, Standard Security Life Insurance Company of New York, to Reliance Standard Life Insurance Company, effective January 1, 2022. The transaction satisfied all closing conditions. CEO Roy T. K. Thung expressed satisfaction with the sale, wishing Reliance Standard success. IHC provides various insurance products nationally, including Medicare and life insurance, through multiple distribution channels.
Reliance Standard Life Insurance Company, part of the Tokio Marine Group, has acquired Standard Security Life Insurance Company of New York from Independence Holding Company (IHC). The acquisition, effective January 1, 2022, enhances Reliance Standard's position in the New York disability insurance market, making it the third largest provider of statutory disability benefits with a combined business of approximately
Independence Holding Company (NYSE: IHC) announced the successful sale of its subsidiary, Madison National Life Insurance Company, to Horace Mann Educators Corporation, effective January 1, 2022. CEO Roy T. K. Thung expressed satisfaction with the transaction, highlighting the expected growth of Madison National Life under new ownership. The sale reflects IHC's strategic direction, allowing it to focus on its core insurance products distributed through various channels, including digital platforms.
Independence Holding Company (NYSE: IHC) announced the successful completion of the sale of a controlling interest in its pet division and shares of Independence American Holdings Corp. to Independence Pet Holdings. The transaction closed on December 20, 2021, fulfilling all regulatory conditions, including approval from the Delaware Department of Insurance. IHC received approximately $276 million, with 70% in cash and 30% in Independence Pet stock. CEO Roy T.K. Thung expressed enthusiasm for value creation as a shareholder.
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