American Independence Corp. Announces Share Repurchase Program to Permit Repurchase of Up to 200,000 Shares of AMIC's Common Sto
June 16 2010 - 12:47PM
American Independence Corp. (Nasdaq:AMIC) today announced that its
board of directors has authorized the repurchase, from time to
time, of up to 200,000 shares of AMIC's common stock. The
repurchase program may be discontinued or suspended at any time.
Roy Thung, Chief Executive Officer, commented, "AMIC is focused
on delivering value to its shareholders. At this time, we
believe our stock is significantly undervalued, as it is currently
trading at 43% of our book value."
About American Independence Corp.
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 through managing general
underwriters, including Marlton Risk Group LLC and Risk Assessment
Strategies, Inc.
Certain statements in this news 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 which 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 AMIC
operates, new federal or state governmental regulation, AMIC's
ability to effectively operate, integrate and leverage any past or
future strategic acquisition, and other factors which can be found
in AMIC's other news releases and filings with the Securities and
Exchange Commission.
CONTACT: American Independence Corp.
David T. Kettig
(212) 355-4141 Ext. 3047
www.americanindependencecorp.com
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