Close Close
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
ThinkAdvisor

Retirement Planning > Retirement Investing

StanCorp Results Include Hurricane Claim Reserve

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

Solid employee benefits claims experience and a big increase in retirement plan assets helped third-quarter earnings at StanCorp Financial Group Inc.[@@]

StanCorp, Portland, Ore., is reporting $56 million in net income for the latest quarter on $590 million in revenue, up from $52 million in net income on $541 million in revenue for the third quarter of 2004.

Retirement plan assets soared to $4 billion Sept. 30, from $3 billion a year earlier, and the overall level of employee benefits claims was relatively low, StanCorp says.

But the ratio of individual disability claims to individual disability premiums was up, and StanCorp says it established $2.5 million in reserves to prepare for employee benefit plan claims that might come in as a result of Hurricane Katrina and Hurricane Rita.


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.