AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. 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; and www.mypetinsurance.com. Independence Holding Company, through its subsidiaries, engages in life and health insurance business. … For more information, visit www.ambest.com. christopher.sharkey@ambest.com, Jim Peavy © Copyright 2021 Morningstar, Inc. All rights reserved. 5159 joseph.zazzera@ambest.com, Christopher Sharkey AM Best Affirms Credit Ratings of Independence Holding Company and Its Subsidiaries. Use the PitchBook Platform to explore the full profile. 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 … The group also has a moderate dependence on reinsurance in managing its capital. Madison National Life Insurance Company, Inc. Standard Security Life Insurance Company of New York. Tax Planning; Personal Finance; Save for College; Save for Retirement; Invest in Retirement 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. 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. The group also maintains favorable balance sheet metrics, including its liquidity measures at both the operating and holding company. This site is protected by reCAPTCHA and the Google Independence Holding Company (NYSE: IHC), formed in 1980, is a holding company that is principally engaged in underwriting, administering … 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]. 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. (See below for a detailed list of companies.) CONTACT: Loan Nisser(646) 509-2107www.IHCGroup.com. The group has successfully implemented these changes over the last few years. Privacy Policy and 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. +1 908 439 2200, ext. We have made, and are continuing to make, material investments in ramping up our pet and Medicare divisions, which are both high growth lines of business.”. IHC recently declared its semi-annual cash dividend (which is $.44 per share annualized), and we expect to maintain or increase this dividend amount in the foreseeable future. 5797 Senior Financial Analyst The company's dental portfolio includes indemnity and … Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. . The ratings reflect Independence Holding Company Group’s balance sheet strength, which AM Best categorizes as strongest, as well as its … A.M. Best Affirms Credit Ratings of Independence Holding Company and Its Subsidiaries A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of Madison National Life Insurance . For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s, AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Premium growth over the last couple of years, primarily emerging from incremental changes to New York’s Paid Family Leave program, short-term medical and pet insurance, has reflected company initiatives aimed at transitioning it to higher growth businesses, while adding revenue diversity and improving margins. 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]. The ratings reflect Independence Holding Company Group’s balance sheet strength, which AM Best categorizes as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM). Why subsidiary independence matters Although it might seem onerous to some, the reason the Prudential Regulation Authority (PRA) wishes to regulate and supervise wholly owned subsidiary financial firms conducting significant levels of business in the UK is because where a subsidiary’s interests are at odds with the group, it must act in its own interests, and not its parent. The group continues to maintain the strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio. antonietta.iachetta@ambest.com, Joseph Zazzera, MBA 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”). Concurrently, AM Best has affirmed the Long-Term ICR of “bbb-” of Independence Holding Company. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. In addition, AM Best believes the uncertain regulatory and legislative environments could negatively impact some of the group’s specialty health lines of business, such as short-term medical. © 2021 GlobeNewswire, Inc. All Rights Reserved. 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). (See below for a detailed list of companies). 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. Independent subsidiaries that actually operate as independent businesses provide considerable liability protection for the parent company. 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. +1 908 439 2200, ext. The FSR of A- (Excellent) and the Long-Term ICRs of “a-” have been affirmed for the following members of the Independence Holding Company Group: This press release relates to Credit Ratings that have been published on AM Best’s website. The outlook of these Credit Ratings (ratings) is stable. HDFC Asset Management Company Ltd is up for a third straight session today. Director 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 … Independence Holding Company (NYSE: IHC), formed in 1980, is a holding company that is principally engaged in underwriting, administering and/or … 5792 (See below for a detailed list of companies.) 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. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. Antonietta Iachetta The ERM program of Independence Holding Company Group remains appropriate. STAMFORD, Conn., Feb. 11, 2021 (GLOBE NEWSWIRE) -- Independence Holding Company (NYSE: IHC) today announced that fueled by record growth in pet … 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. Independence Holding Company sells life and health insurance through its wholly-owned subsidiaries, Standard Security Life Insurance Company of New York, and … Manager, Public Relations A.M. Best has affirmed the financial strength rating of A- and the issuer credit ratings of “a-” of Madison National Life Insurance Company, Inc. (Madison, ... | January 17, 2021 Capital stability has been supported by favorable underwriting results and investment gains, even after dividends and other capital management initiatives. +1 908 439 2200, ext. 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. Terms and Conditions Privacy Center Disclosures Member User Agreement Corrections Cookies, This press release relates to Credit Ratings that have been published on AM Best’s website. Roy T. K. Thung, Chief Executive Officer, commented, “We 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. 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 … Forward-looking StatementsCertain 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. . james.peavy@ambest.com, View source version on businesswire.com: https://www.businesswire.com/news/home/20201216005944/en/. 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 … 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… 5644 ALL RIGHTS RESERVED. Competition in the supplemental health and group benefits markets remains highly elevated, which may somewhat hinder the group’s growth in these markets. 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]. Information on stock, financials, earnings, subsidiaries, investors, and executives for Independence Holding. 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 For more information, visit, Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases, https://www.businesswire.com/news/home/20201216005944/en/. 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 For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. (See below for a detailed list of companies.) 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]. 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 … Terms of Service apply. Director, Communications
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