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NEW YORK, June 16, 2010 (GLOBE NEWSWIRE) -- 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