Roy T. K. Thung

With sorrow and gratitude for a life extraordinarily well lived, we share the passing of Roy Tjay Kiang Thung, who died peacefully in Las Vegas following the finest World Series of Poker performance of his lifetime, and the fulfillment of the American Dream.

Roy Thung was born on January 31, 1944, in Bogor, Indonesia, to Loen Nio Thung and Dr. Hin Kwan Thung. From an early age, his intelligence made itself unmistakably known. He completed high school at just 16 years old, and by 19, he had become a champion in both chess and bridge - early signs of the sharp mind that would define his life. After earning undergraduate and master's degrees in finance and accounting from the University of Indonesia, Roy married, Dr. Swan Thung, who preceded him in death. He immigrated to the United States in 1969, during an economic recession, and armed with limited English, exceptional intellect, determination, and the support of extended family, he earned a position with Lybrand, Ross Brothers & Montgomery (now known as PricewaterhouseCoopers) in its international tax, accounting, and consulting practice. Roy told his family, "I am going to start at the bottom but work very hard and get to the top."

In April 1976, Roy joined Geneve Corporation, beginning a professional relationship that would span nearly five decades, where his leadership and financial acumen helped shape the organization's long-term success and gained the respect of countless business industry leaders. In 1990, Roy dedicated himself to Independence Holding Company (IHC), a publicly traded insurance holding company and Geneve subsidiary. As Chief Executive Officer and later Chairman of the Board, he guided the company to unprecedented growth and transformed IHC into a highly respected New York Stock Exchange-listed enterprise, remaining with the company until it became privately held in 2022. Roy also served as Chief Executive Officer of American Independence Corp. (AMIC) from its acquisition in 2002 until it became private in 2016.

Roy's leadership style was built on loyalty, partnership, and integrity. He never took advantage of a counterparty, believing that fairness in one deal created investment and opportunity in the next. When companies were acquired, Roy believed their employees were to be treated as new partners and integrated into a new home, not cut or downsized. To those who worked alongside him, Roy was an incredible mentor. He led by example and took genuine pride in his team successes - whether they were employees who built their careers at Geneve and its subsidiaries or left to write new chapters elsewhere.

To those who knew him, Roy was a force of nature. He was wise, charismatic, loyal, entertaining, a doting grandfather, insightful, proud, altruistic, a seasoned poker player, devoted to his faith - and above all, he was generous. His generosity was legendary. Roy found joy in giving and in ensuring that others were cared for. His acts of kindness - both large and small - left a lasting impact on all who had the privilege of knowing him. In his later years, Roy often spoke about "QTR" - quality time remaining. He lived by this principle with intention, especially as he became more aware of his own mortality. To Roy, time was measured in how meaningfully it was lived, and it was this belief - in creating and cherishing moments with those he cared for - that drove his generosity.

Though we are heartbroken, and his loss leaves a profound emptiness that can never be filled, we take solace in knowing that Roy is now reunited with his beloved wife, Swan, whose beauty, kindness and brilliance shaped so much of his life. We take comfort in the most generous gift he left us - one for which we will always be grateful - the gift of seeing and understanding how he chose to live.

Roy is lovingly survived by his sons, Stephen and Andrew; his daughters-in-law, Arlyne, wife of Stephen, and Lisa, wife of Andrew; his adored grandchildren, Rohan, Anduin, and Aranel, children of Stephen and Arlyne, and Maile, Emmeline, and Eliam, children of Andrew and Lisa; sisters Sioe Thung Thompson and Kim Lian Oei-Thung, and brother in law and husband to Sioe - Melish Thompson.

In lieu of flowers, the family welcomes donations to two charities:

Our Lady of Mt. Carmel

Please make checks payable to: Mt. Carmel Church

In the Memo, please note: In memory of Roy Thung

Mail to:

Our Lady of Mount Carmel Church
ATTN: Fr. Robert Norris
59 E. Main Street
Elmsford, NY 10523

or

The Catholic Diocese of Ondo

Please make checks payable to: The Catholic Diocese of Ondo

In the Memo, please note: In memory of Roy Thung

Mail to:

Bishop Jude Arogundade
The Catholic Diocese of Ondo
PO Box 8
Elmsford, NY 10523