Welcome to our dedicated page for Independence Hldg Co news (Ticker: IHC), a resource for investors and traders seeking the latest updates and insights on Independence Hldg Co stock.
Independence Holding Company (IHC) delivers specialty insurance solutions through subsidiaries like Standard Security Life and Madison National Life, with a growing focus on InsureTech innovation. This page provides investors and industry stakeholders with centralized access to official announcements, financial updates, and strategic developments.
Track IHC's progress through earnings reports, partnership announcements (including recent collaborations with Fear Free® and ASPCA®), and expansions of its digital platforms like healthinsurance.org and mypetinsurance.com. Content is curated to support informed analysis of the company's market position in supplemental health and pet insurance sectors.
Key updates include regulatory filings, leadership changes, product launches, and financial performance metrics. Subscribers and frequent visitors gain timely insights into IHC's diversified revenue streams and technology-driven growth strategies.
Bookmark this page for direct access to primary source materials, ensuring you stay informed about one of the insurance sector's most dynamic holding companies. Check regularly for updates impacting both short-term market movements and long-term industry trends.
Independence Holding Company (NYSE: IHC) reported a net income of $5,621,000, or $0.38 per share, for Q1 2021, up from $4,278,000, or $0.29 per share, in Q1 2020. Revenues rose to $124,657,000 from $103,997,000, driven by growth in Paid Family Leave, pet insurance, and insurance sales. However, the company anticipates continued weakness in short-term medical sales due to ACA changes. The group life incidence rate increased due to COVID-19 deaths, but it has since normalized. IHC maintains a strong balance sheet with no debt and a book value of $32.36 per share.
Independence Holding Company (NYSE: IHC) announced its agreement to sell Standard Security Life Insurance Company of New York to Reliance Standard Life Insurance Company for $180 million in cash. The deal also includes a dividend of approximately $11.6 million to be paid to Independence Capital Corp. upon closing. This transaction is pending customary closing conditions and regulatory approvals, including consent from the New York State Department of Financial Services. Raymond James & Associates acted as the financial advisor for this sale.
Reliance Standard Life Insurance Company has announced plans to acquire Standard Security Life Insurance Company of New York, a subsidiary of Independence Holding Company (NYSE:IHC). This acquisition, pending regulatory approval, positions Reliance Standard as the third largest provider of New York Disability Benefit Law insurance, commanding approximately 10% of the market. Reliance Standard, which reported $1.39 billion in gross premiums in 2020, aims to enhance its service offerings through this strategic acquisition. The deal is expected to finalize in the third quarter of 2021.
Independence Holding Company (NYSE: IHC) announced the sale of Standard Security Life Insurance Company of New York to Reliance Standard Life Insurance Company for $180 million in cash. The transaction will also include a dividend of $11.6 million to Independence Capital Corp. from Standard Security, based on its statutory capital. Regulatory approvals are required before closing. The deal is expected to streamline IHC's operations, potentially enhancing shareholder value by focusing on core business segments.
Independence Holding Company (NYSE: IHC) reported strong financial results for 2020, with net income of $18.9 million or $1.28 per share, a significant increase from $12.4 million or $0.83 per share in 2019. The company's revenue rose to $443.9 million, driven by growth in Paid Family Leave and pet insurance sectors. The CEO expressed optimism for 2021, highlighting strategic investments in pet insurance and senior products. IHC also increased its annual dividend to $0.44 per share and maintained a strong balance sheet with no debt.
Independence Holding Company (NYSE: IHC) announced a significant expansion of its partnership with the American Kennel Club (AKC) and PetPartners, Inc. This new agreement enhances marketing efforts focused on pet health and insurance amidst rising veterinary costs. The AKC has seen record growth in puppy registrations, paralleling increased pet ownership during the COVID-19 pandemic. The collaboration aims to educate pet owners on responsible care, offering services such as veterinary appointments and pet insurance coverage to ensure pets receive necessary medical attention.
Independence Holding Company (NYSE: IHC) announced that AM Best has affirmed its Financial Strength Rating (FSR) of A- (Excellent) for its insurance subsidiaries. CEO Roy T. K. Thung highlighted the company's strong balance sheet, devoid of debt, and substantial free cash at the corporate level. IHC declared a semi-annual cash dividend of $0.44 per share, indicating plans to maintain or increase it. The company is focusing on expanding its pet and Medicare divisions, identified as high-growth areas, which aligns with its strategic development goals.
Independence Holding Company (IHC) received strong ratings from AM Best, with a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of 'a-'. These ratings reflect the group's strongest balance sheet strength and adequate operating performance. The ratings outlook is stable, supported by favorable underwriting results and capital stability. However, competition in the supplemental health market and regulatory uncertainties pose potential risks to growth. The group remains focused on profitable premium growth in niche markets.
Independence Holding Company (NYSE: IHC) has declared a semi-annual cash dividend of $0.22 per share, payable to stockholders of record on December 24, 2020, with a payment date set for January 7, 2021. This marks an ongoing commitment to returning value to shareholders. The company is involved in underwriting and distributing specialty benefit products, including health and life insurance, and operates under the IHC Group comprising three insurance companies and several agencies focused on diverse insurance services.
Independence Holding Company (NYSE: IHC) reported strong financial results for the third quarter and nine months ended September 30, 2020. Net income rose to $8.7 million ($0.59 per share) for Q3 2020, up from $6.1 million ($0.41 per share) in Q3 2019. Year-to-date net income decreased to $13.4 million ($0.90 per share) from $21.7 million ($1.45). Revenues increased to $113.2 million for Q3 2020, and $324.5 million year-to-date, driven by growth in Paid Family Leave and pet insurance. CEO Roy T. K. Thung highlighted promising prospects in pet insurance, anticipating significant revenue growth in 2021.
