Roy T. K. Thung
Roy T. K. Thung is the Chief Executive Officer, President and Chairman of the Board of Directors of
Independence Holding Company (NYSE: IHC), having served IHC in various capacities since its founding in
1980. Mr. Thung also serves as Chief Executive Officer, and as a director, of American Independence Corp.
(NASDAQ: AMIC), and as a director of The Aristotle Corporation. Both American Independence
Corp. and The Aristotle Corporation are affiliates of IHC.
Mr. Thung holds an M.B.A. from the Stern School of Business at New York University.
Larry R. Graber
Larry R. Graber is Chief Life and Annuity Actuary and Senior Vice President of Independence Holding Company (NYSE: IHC).
He is also a director of IHC, and President of Madison National Life Insurance Company, Inc., a wholly owned subsidiary
Mr. Graber has more than 30 years of experience in life and annuity acquisitions. He has been involved in more than
130 acquisitions of life and annuity blocks or companies, dealing with state insurance departments, state guaranty
associations, NOLGHA, and insurance companies. Prior to joining IHC, Mr. Graber owned an acquisition consulting firm
and was President of Hill Country Life Insurance Company.
Mr. Graber attended Weatherford College and the University of Texas at Austin. He also has a MBA from the
University of Texas at Austin.
Teresa A. Herbert
Teresa A. Herbert is Chief Financial Officer and Senior Vice President of Independence Holding Company (NYSE: IHC),
having served IHC in various capacities since 1988. Ms. Herbert also serves as Chief Financial Officer of American
Independence Corp. (NASDQ: AMIC), and as a director of AMIC. AMIC is an affiliate of IHC.
Prior to joining IHC, Ms. Herbert worked for KPMG LLC. She holds an accounting degree from Rutgers University
and is licensed as a Certified Public Accountant in the state of New Jersey.
Michael A. Kemp
Michael A. Kemp is Chief Underwriting Officer and Senior Vice President of Independence Holding Company
(NYSE: IHC). Mr. Kemp is also President of IHC Risk Solutions, LLC, the direct employer stop-loss division of IHC.
Mr. Kemp has over 30 years' experience in the life and health insurance and reinsurance industry. He has
assumed actuarial and underwriting roles at consulting firms, insurance companies, and a reinsurance management
firms. In 2003, he founded ReAct Consulting International where he provided actuarial and underwriting consulting
services to many clients, including IHC since 2005.
Mr. Kemp has been a Fellow of the Society of Actuaries since 1985 and is also a Member of the American
Academy of Actuaries and a Fellow of the Conference of Consulting Actuaries.
David T. Kettig
David T. Kettig is Chief Operating Officer and Senior Vice President of Independence
Holding Company (NYSE: IHC), having served IHC in various capacities since 1992.
Mr. Kettig is also a director of IHC. In addition, Mr. Kettig serves as President
of American Independence Corp. (NASDAQ: AMIC) and as President of both Standard
Security Life Insurance Company of New York and Independence American Insurance
Company, all corporate affiliates of IHC. He is a frequent contributor to trade
publications (such as Broker World, HIU and Benefits Selling) on topics including
medical stop-loss and fully insured health products. Mr. Kettig is a regular speaker
at industry events on trends in the health insurance industry and the future of
health care policy in the United States.
Prior to joining IHC, Mr. Kettig practiced law with a large firm based in New York
City. He holds a law degree from Cornell Law School and is a graduate of Hamilton
Gary J. Balzofiore
Gary J. Balzofiore is Corporate Vice President – Accounting and Finance of Independence Holding
Company (NYSE:IHC) and its affiliate, American Independence Corp. (NASDAQ: AMIC). Mr. Balzofiore
is also Executive Vice President and Chief Financial Officer of Standard Security Life Insurance
Company of New York, a wholly owned subsidiary of IHC.
Mr. Balzofiore holds a Bachelor of Science in Accounting from Wagner College. He has over
30 years of professional experience in the insurance industry.