Two big U.S. disability insurers are seeing decent market conditions.
StanCorp Financial Group (NYSE:SFG), the parent of the Standard, is in the process of being acquired by Meiji Yasuda Life Insurance Company of Japan and no longer holds quarterly earnings calls with securities analysts.
But the company as a whole reported $55 million in net income for the third quarter on $718 million in revenue, compared with $70 million in net income on $688 million in revenue.
StanCorp’s individual disability insurance unit is reporting $17 million in income before income taxes on $65 million in revenue, up from 16 million in income on $63 million in revenue for the third quarter of 2014.
Annualized new sales increased to $7.7 million, from $7.3 million, and spending on commissions and bonuses held steady at about $13 million.
The company’s new money investment rate crept up to 4.49 percent, from 4.41 percent.
StanCorp does not break out group disability results from results for other group benefits products, but it said that benefits sales and retention have been strong, and that the number of requests for proposals from prospective clients has increased.
Unum Group Corp. (NYSE:SFG) is reporting $204 million in net income for the third quarter on $2.7 billion in revenue, compared with $219 million on $2.6 billion in revenue for the year-earlier quarter.