StanCorp earnings down

The insurance company’s earnings fell short due to “volatile disability claims experience” over the second quarter.

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StanCorp Financial Group seemed unaffected by the economic downturn, until “unfavorable claims experience” lowered the company’s earnings in the second quarter.

The Portland insurance company attributed a decrease in premiums to “the ongoing effects of challenging economic conditions on wage rates and job growth.”

StanCorp’s net income excluding after-tax capital gains and losses was $1.04 per share, well short of the Wall Street consensus of $1.23.

“We saw volatile disability claims experience over this most recent quarter, a period that is very short when compared with the long-term perspective with which we manage our business,” said Greg Ness, the company’s chief executive.


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