IHC Announces Completion of the Sale of Standard Security Life Insurance Company of New York
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.
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STAMFORD, Conn., Jan. 03, 2022 (GLOBE NEWSWIRE) -- Independence Holding Company (NYSE: IHC) today announced the completion of the sale of its subsidiary Standard Security Life Insurance Company of New York (“Standard Security Life”) to Reliance Standard Life Insurance Company (“Reliance Standard”). All conditions to the consummation of the sale were satisfied and the transaction closed effective January 1, 2022.
Roy T. K. Thung, Chief Executive Officer, commented, “We are very pleased to find a good home for Standard Security Life and our employees and we wish Reliance Standard much success in the future.”
About Independence Holding Company
Independence Holding Company (NYSE: IHC), through our current subsidiaries, distributes Medicare, life, under age 65 health (including Affordable Care Act plans), and other insurance products direct to consumers, via agents and through affinity partnerships. We sell products nationally through multiple channels, including digital, call center and advisors, all of which utilize our CMS-approved Web Broker, INSXcloud.com. We provide information and quoting capabilities via our domain properties including healthinsurance.org; medicareresources.org; myhealthinsurance.com; and healthedeals.com. To learn more visit https://ihcgroup.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 Securities and Exchange Commission. 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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