Note 17 and 18 - Equity

12 Months Ended

Dec. 31, 2011

Equity

Restrictions on Dividends, Loans and Advances [Text Block]

17.  Dividend Restrictions on Insurance Subsidiary

Dividends from Independence American to its parent, a subsidiary of AMIC, are subject to the prior notification to the Delaware Insurance Commissioner, if such dividends, together with the fair market value of other dividends or distributions made within the preceding twelve months, exceed the greater of (i) 10% of surplus as regards policyholders as of the preceding December 31 or (ii) net income, not including realized capital gains, for the twelve-month period ending the December 31 next preceding.  Such dividends may be paid as long as they have not been disapproved by the Delaware Insurance Commissioner within 30 days of its receipt of notice thereof.  Independence American paid dividends of $1,000,000 in 2011 and of $1,500,000 in 2010.

Independence American’s statutory surplus was $50,466,000 (unaudited) as of December 31, 2011 and $47,392,000 as of December 31, 2010.  Independence American’s statutory net income was $3,407,000 (unaudited) for 2011, $2,697,000 for 2010, and $2,760,000 for 2009.

Comprehensive Income (Loss) Note [Text Block]

18.  Other Comprehensive Income

The components of other comprehensive income include (i) net income or loss reported in the Consolidated Statements of Operations, (ii) certain amounts reported directly in stockholders’ equity, principally the after-tax net unrealized gains and losses on investment securities available for sale including the subsequent increases and decreases in fair value of available-for-sale securities previously impaired, and (iii) effective April 1, 2009, the non-credit related component of other-than-temporary impairments of fixed maturities and equity securities.

The comprehensive income for years 2011, 2010 and 2009 is summarized as follows (in thousands):

				Year Ended
				December 31,
				2011		2010		2009
Net income			$	3,184	$	2,982	$	3,166
	Unrealized gains arising during
		the period		1,606		506		3,605
	Reclassification adjustment for (gains) losses
		included in earnings		(520)		244		(275)
	Reclassification of losses recognized as other-than-
		temporary impairments in earnings		89		179		-
	Net unrealized gains on certain available-
		for-sale securities arising during the period		1,175		929		3,330
Comprehensive income				4,359		3,911		6,496
Comprehensive income attributable to
	non-controlling interests			(690)		(883)		(554)
Comprehensive income attributable to
	American Independence Corp.		$	3,669	$	3,028	$	5,942

Included in accumulated other comprehensive income at December 31, 2011 and 2010 are adjustments of $140,000 and $99,000, respectively, related to the non-credit related component of other-than-temporary impairment losses recorded in connection with new accounting standards adopted on April 1, 2009.  In 2011, unrealized gains arising during the period include losses of $41,000, representing the non-credit portion of other-than-temporary impairments.