© 2021 GlobeNewswire, Inc. All Rights Reserved. STAMFORD, Conn., Dec. 17, 2020 (GLOBE NEWSWIRE) -- Independence Holding Company (NYSE: IHC) today reported that AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) for the insurance company subsidiaries of Independence Holding Company. Independence Holding Company (NYSE: IHC), formed in 1980, is a holding company that is principally engaged in underwriting, administering … While operating earnings within Independence Holding and its subsidiaries are trending favorably, A.M. Best remains concerned about the lack of growth within some of … Madison National Life Insurance Company, Inc. Standard Security Life Insurance Company of New York. Independence Holding Company sells life and health insurance through its wholly-owned subsidiaries, Standard Security Life Insurance Company of New York, and … Roy T. K. Thung, Chief Executive Officer, commented, âWe are gratified that AM Best has affirmed our A- (Excellent) rating for all three of our insurance companies.  IHC has a very strong balance sheet with no indebtedness and a very substantial amount of free cash at the corporate level and significant excess capital in our insurance companies. The stock is quoting at Rs 3055, up 2.61percent on the day as on 12:49 IST … 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 Medicare Supplement, disability, supplemental health, pet, and group life insurance through its subsidiaries (Independence Holding Company and its subsidiaries collectively referred to … 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). Capital stability has been supported by favorable underwriting results and investment gains, even after dividends and other capital management initiatives. Independence Holding Company 2020 Proxy Statement and Annual Report; ... “IHC” and “the IHC Group” is the brand name for plans, products, and services provided by one or more of the subsidiaries and affiliate member companies of the IHC Group (“IHC Entities”). +1 908 439 2200, ext. … The parenting strategy or the management model describes the relation between the Holding Company and the Subsidiaries, or in other cases where there is only one company and it includes multiple businesses, parenting strategy describes the relation between the head office and the subsidiaries, where each subsidiary represents a separate business or profit center, each is distinct and self-contained … For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. 5159 Independence Holding Company (NYSE: IHC), formed in 1980, is a holding company that is principally engaged in underwriting, administering and/or … Competition in the supplemental health and group benefits markets remains highly elevated, which may somewhat hinder the group’s growth in these markets. . This site is protected by reCAPTCHA and the Google For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases. AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a-" for the subsidiaries of Independence Holding Company (collectively referred to as Independence Holding Company Group or the group) (headquartered in Stamford, CT) [NYSE:IHC]. Forward-looking StatementsCertain statements and information contained in this release may be considered âforward-looking statements,â 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, IHCâs ability to effectively operate, integrate and leverage any past or future strategic acquisition, and other factors which can be found in IHCâs 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. +1 908 439 2200, ext. AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of a- for the subsidiaries of Independence Holding Company (collectively referred to as Independence Holding Company Group) (headquartered in Stamford, CT) [NYSE:IHC]. The group has also reported consistent underwriting aggregate net income, despite some fluctuations at the product level, and produced favorable results across its diverse set of business. [email protected], Christopher Sharkey [email protected], Jim Peavy 5797 Tax Planning; Personal Finance; Save for College; Save for Retirement; Invest in Retirement Senior Financial Analyst Antonietta Iachetta © Copyright 2021 Morningstar, Inc. All rights reserved. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. These include short-term medical, hospital indemnity, NY Disability Benefits Law and Paid Family Leave, short-term and long-term disability, pet insurance, group life, group limited benefit medical & GAP, dental and vision, as well as other products. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. The group continues to maintain the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio. STAMFORD, Conn., Feb. 11, 2021 (GLOBE NEWSWIRE) -- Independence Holding Company (NYSE: IHC) today announced that fueled by record growth in pet acquisition and registration, the American Kennel Club (AKC®), the leading advocate for dogs, and PetPartners, Inc. (PPI), its longtime administrator of AKC Pet Insurance (insurance underwritten by 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. The group has successfully implemented these changes over the last few years. CONTACT: Loan Nisser(646) 509-2107www.IHCGroup.com. The ratings reflect Independence Holding Company Group’s balance sheet strength, which AM Best categorizes as strongest, as well as its … AM Best Affirms Credit Ratings of Independence Holding Company and Its Subsidiaries. The group also has a moderate dependence on reinsurance in managing its capital. A.M. Best has affirmed the Financial Strength Rating of A- and the Long-Term Issuer Credit Ratings of “a-” of Madison National Life Insurance Company, Inc.... | January 25, 2021 After exiting the medical stop-loss business and divesting from the life and annuity business several years ago, the group has focused on profitably growing premium as a niche market carrier in its remaining specialty health and group benefits products. The plan, which sets forth a strong risk culture and governance and ongoing discipline and risk identification, has continued to evolve over the past year, adding more sophisticated risk and contingency plans.
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