American Independence Corp. Announces 2013 First-Quarter Results

American Independence Corp. Announces 2013 First-Quarter Results

NEW YORK, May 8, 2013 (GLOBE NEWSWIRE) -- American Independence Corp.
(Nasdaq:AMIC) today reported 2013 first-quarter results.

Financial Results

Net income attributable to AMIC decreased to $0.7 million ($.09 per share,
diluted), for the three months ended March 31, 2013, compared to $1.1 million
($.14 per share, diluted), for the three months ended March 31, 2012.

Revenues increased to $35.4 million for the three months ended March 31, 2013,
compared to revenues of $22.2 million for the three months ended March 31,
2012, primarily due to an increase in premiums.

Chief Executive Officer's Comments

Roy Thung, Chief Executive Officer, commented, "The Company continues to
experience growth and improved loss ratio results in our stop-loss line from
business underwritten by IHC Risk Solutions. We are excited by the growth and
returns on our pet line of business and international insurance. The Company
did report an increase in claim reserves of $1.3 million due to an increase in
reserves related to the poor performance of a stop-loss producer that has been
terminated. Our financial condition and balance sheet remain strong.We have
no debt and have grown our book value to $12.78 per share at March 31, 2013
from $12.59 per share at December 31, 2012."

About American Independence Corp.

AMIC, through Independence American Insurance Company and its other
subsidiaries, offers major medical for individuals and families, medical
stop-loss, small group major medical, short-term medical, various supplemental
products, pet insurance, and non-subscriber occupational accident and
international coverages.AMIC provides to the individual and self-employed
markets health insurance and related products, which are distributed through
its subsidiaries, IPA Family, LLC, healthinsurance.org, LLC, and IHC Specialty
Benefits, Inc.AMIC markets medical stop-loss through its marketing and
administrative company IHC Risk Solutions, LLC.

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.AMIC expressly disclaims any duty to update its forward-looking
statements or earnings guidance, and does not undertake to provide any such
guidance in the future.

AMERICAN INDEPENDENCE CORP.
FIRST QUARTER REPORT
MARCH 31, 2013
(In thousands except per share data)
                                                                   
                                                          Three Months
                                                          Ended March 31,
                                                          2013      2012
                                                                   
Premiums earned                                           $ 29,996 $ 18,457
MGU and agency income                                     4,247     3,128
Net investment income                                      504       496
Net realized investment gains                              540       126
Other income                                              73        27
                                                                   
Revenues                                                   35,360    22,234
                                                                   
Insurance benefits, claims and reserves                   21,233    11,691
Selling, general and administrative expenses              12,604    8,593
Amortization and depreciation                              228       45
                                                                   
Expenses                                                   34,065    20,329
                                                                   
Income before income tax                                   1,295     1,905
Provision for income taxes                                 372       608
                                                                   
Net income                                                 923       1,297
Less: Net income attributable to the non-controlling       (232)     (178)
interest
                                                                   
Net income attributable to American Independence Corp.     $ 691    $ 1,119
                                                                   
Basic income per common share:                                      
Net income attributable to American Independence Corp.     $ .09    $ .14
common stockholders
                                                                   
Weighted-average shares outstanding                        8,086     8,272
                                                                   
Diluted income per common share:                                    
Net income attributable to American Independence Corp.     $ .09    $ .14
common stockholders
                                                                   
Weighted-average diluted shares outstanding                8,086     8,272
                                                                   
As of March 31, 2013 there were 8,072,548 common shares outstanding, net of
treasury shares.

CONTACT: DAVID T. KETTIG
         (212) 355-4141 Ext. 3047
         www.americanindependencecorp.com