Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Life Insurance > Term Insurance

StanCorp Reports 54% Increase In Net Income

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, Oct. 23, 2003, 5:22 p.m. EDT – StanCorp Financial Group Inc., Portland, Ore., says solid renewal revenue from group products, rising individual sales and a modest increase in the yield on disability reserve investments helped it increase its third quarter earnings 54%.

StanCorp, the parent company of Standard Insurance, is reporting $42 million in net income for the latest quarter on $525 million in revenue, up from $28 million in net income on $425 million in revenue for the third quarter of 2002.

Operating revenue increased at the employee benefits unit, the individual insurance unit and the retirement unit, and total net investment income increased 19%, to $113 million.

At the group benefits unit, StanCorp was able to increase the interest rate used to discount new long term disability reserves to 4.90%, from 4.75%, the company says.

At the individual insurance unit, disability insurance sales were up and the ratio of claims to premiums was down, StanCorp says.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.