Independence Holding Company Announces the Collection of an Arbitration Award
Independence Holding Company (NYSE: IHC) announced it has collected over $5.6 million from an arbitration award against a former third-party administrator. This amount will be recorded in the company’s third quarter earnings.
The IHC Group, founded in 1980, focuses on group and individual specialty benefit products, including disability and health insurance, through its subsidiaries.
- Collected over $5.6 million from arbitration award, enhancing cash flow.
- Expected positive impact on third quarter earnings, potentially improving stock performance.
- None.
STAMFORD, Conn., Sept. 09, 2020 (GLOBE NEWSWIRE) -- Independence Holding Company (NYSE: IHC) today reported that it has now collected in excess of
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; www.mypetinsurance.com; and www.tailtrax.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
FAQ
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