INDEPENDENCE HOLDING COMPANY CONDENSED CONSOLIDATED BALANCE SHEETS (September 30, 2011 Unaudited) (USD $) In Thousands	Sep. 30, 2011		Dec. 31, 2010
Investments:
Short-term investments	$ 50		$ 53
Securities purchased under agreements to resell	17,352		41,081
Fixed maturities, available-for-sale	822,766		793,656
Equity securities, available-for-sale	43,558		48,073
Other investments	37,247		36,864
Total investments	920,973		919,727
Cash and cash equivalents	14,205		11,426
Due from securities brokers	27,435		15,022
Deferred acquisition costs	41,309		43,465
Due and unpaid premiums	45,639		48,586
Due from reinsurers	157,981		154,243
Premium and claim funds	38,007		37,646
Notes and other receivables	15,137		16,766
Goodwill	51,713		51,713
Other assets	55,224		63,198
TOTAL ASSETS	1,367,623		1,361,792
LIABILITIES:
Insurance reserves-health	179,856		181,447
Insurance reserves-life and annuity	278,395		278,000
Funds on deposit	416,107		408,566
Unearned premiums	2,647		4,043
Policy claims-health	14,892		16,521
Policy claims-life	12,153		11,809
Other policyholders' funds	20,737		20,195
Due to securities brokers	16,536		32,469
Due to reinsurers	37,454		31,554
Accounts payable, accruals and other liabilities	63,481		70,497
Liabilities related to discontinued operations			771
Debt	10,000		7,500
Junior subordinated debt securities	38,146		38,146
TOTAL LIABILITIES	1,090,404		1,101,518
IHC STOCKHOLDERS' EQUITY:
Common Stock	16,774	[1],[2]	15,472	[1],[3]
Paid-in capital	112,369		101,003
Accumulated other comprehensive income (loss)	8,957		633
Treasury stock, at cost	(2,515)	[4]	(1,917)	[5]
Retained earnings	124,749		115,437
TOTAL IHC STOCKHOLDERS' EQUITY	260,334		230,628
NONCONTROLLING INTERESTS IN SUBSIDIARIES	16,885		29,646
TOTAL EQUITY	277,219		260,274
TOTAL LIABILITIES AND EQUITY	$ 1,367,623		$ 1,361,792

[1] $1.00 par value, 20,000,000 shares authorized.

[2] 16,774,210 shares issued, 16,464,541 shares outstanding.

[3] 15,472,020 shares issued, 15,232,865 shares outstanding.

[4] 309,669 treasury shares

[5] 239,155 treasury shares