Shares of American Independence (AMIC +15.8%) soar after for Independence Holding Company (IHC) announced that it's commenced a tender offer to purchase up to 762,640 shares at $10.00 net per share in cash.
The offer will expire at 5:00 P.M. EST on Wednesday, October 2, unless extended by IHC.
If the tender is fully subscribed, IHC and its subsidiaries will own up to 90% of AMIC's outstanding float.
IHS (IHC -1.2%) acquires PFC Energy, provider of information, insight, and analytical products and services for the oil and gas sector. Scott Key, IHS President and CEO, notes that that PFC's focus on upstream and downstream energy insights will give IHS new solutions to support customers' workflows.
The National Association of Insurance Commissioners has voted in favor of new regulations for how life insurers fix reserves for future claims in a decision that could free up billions of dollars for acquisitions, dividend increases and buybacks. However, critics, who include New York's Benjamin Lawsky, fear that insurers will become under-reserved and vulnerable to economic downturns.
Independence Holding (IHC -1.1%) announces a special 10% stock dividend, as well as a hike in its semi-annual payout to $0.07/share from $0.05/share. The company says a growth in earnings in relation to medical stop-loss helped it reach a financial position strong enough to make the payout.