Independence Holding Company and American Independence Corp. Announce Appointment of New Medical Stop-Loss Managing General Underwriters

STAMFORD, Conn. & NEW YORK--(BUSINESS WIRE)--Independence Holding Company (NYSE: IHC) and its affiliate, American Independence Corp. (NASDAQ: AMIC), today announced that they, together, have appointed four new managing general underwriters (MGUs) for the medical stop-loss line of business conducted by IHC’s and AMIC’s insurance carriers.

Roy T.K. Thung, the CEO of both IHC and AMIC, stated, “We are pleased to be able to announce these appointments. Although cases are already being written by these new MGUs, the effect on our total written premiums will begin to be realized during 2009.”

About Independence Holding Company (IHC)

IHC is a holding company principally engaged in the life and health insurance business and the acquisition of blocks of policies through its insurance company subsidiaries (Standard Security Life Insurance Company of New York and Madison National Life Insurance Company, Inc.), its affiliate (American Independence Corp. (NASDAQ: AMIC)), and its managing general underwriters, third-party administrators, and marketing affiliates. Standard Security Life markets medical stop-loss, small group major medical, short-term medical, major medical for individuals and families, limited medical, group long and short-term disability and life, dental, vision and managed health care products. Madison Life sells group life and disability, employer medical stop-loss, small group major medical, major medical for individuals and families, short-term medical, dental, vision, and individual life insurance. AMIC is a holding company principally engaged in the insurance and reinsurance business through Independence American Insurance Company and its managing general underwriter division.

About American Independence Corp. (AMIC)

AMIC, through Independence American Insurance Company and its other subsidiaries, offers health insurance solutions to individuals and employer groups. AMIC provides to the individual and self-employed markets health insurance and related products, which are distributed through its subsidiaries, Independent Producers of America, LLC and healthinsurance.org, LLC. AMIC markets medical stop-loss, small group major medical, and managed care insurance and reinsurance through managing general underwriters, including IndependenceCare Holdings LLC, Marlton Risk Group LLC and Risk Assessment Strategies, Inc.

Forward-Looking Statements

Certain statements and materials contained in this news release may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to IHC’s and AMIC’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 and AMIC operate, new federal or state governmental regulation, and other factors which can be found in IHC’s and AMIC’s other news releases and filings with the Securities and Exchange Commission.