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StanCorp Reports Higher Third-Quarter Net Income

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NU Online News Service, Oct. 25, 11:48 a.m. – StanCorp Financial Group Inc., Portland, Ore., is reporting $26 million in net income for the third quarter on $399 million in revenue, up from $24 million in net income on $367 million in revenue for the third quarter of 2000.

Revenue from individual insurance products fell 10%, to $20 million, but revenue from employee benefits increased 15%, to $287 million.

Third-quarter results include $5 million in charges related to the Sept. 11 attacks, StanCorp says.

StanCorp is the parent company of Standard Insurance Company, a company that sells employee benefits, individual disability insurance and retirement products, and group life and dental insurance.