StanCorp Financial Group, Inc.
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| StanCorp Financial Group | |
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| Type | Public (NYSE: SFG) |
| Founded | 1906 |
| Headquarters | Portland, Oregon, United States  |
| Key people | Eric E. Parsons, Chairman, President, CEO |
| Industry | insurance |
| Products | group life insurance, annuities, group dental insurance |
| Revenue | $2,492,900,000 (2006) |
| Operating income | ▲ $309,700,000 (2006) |
| Net income | ▲ $203,800,000 (2006) |
| Employees | 3,280 |
| Subsidiaries | Standard Insurance Company, The Standard Life Insurance Company of New York, StanCorp Investment Advisers, Inc., StanCorp Mortgage Investors, LLC |
| Website | www.StanCorpFinancial.com |
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StanCorp Financial Group, Inc. (NYSE: SFG) is a publicly traded Fortune 1000 company based in Portland, Oregon, United States. In 2006 it ranked as number 731 on the Fortune list with in excess of $2 billion in annual revenues. StanCorp is an insurance and financial services corporation founded in 1906.
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[edit] History
The company was founded in Oregon in 1906.[2] On February 24, Leo Samuel founded the Oregon Life Insurance Company.[3] In 1946 the company name was changed to Standard Insurance Company.[2] Then in 1998, StanCorp Financial Group, Inc. was created as the holding company for all the business divisions of the company.[2] The following year the company went public, trading on the New York Stock Exchange.[4]
StanCorp’s Standard Insurance purchased part of Teachers Insurance and Annuity Association (TIAA) group life and disability portfolio in 2002 for $75 million.[5] In May 2004, Ron Timpe was succeeded by CEO Eric Parsons as the company’s chairman of the board of directors.[6] In January 2006, StanCorp was named to the Platinum 400 by Forbes magazine for the fourth year.[7] Later in 2006, the company purchased investment services firm Invesmart for $85 million.[8]
In 2007, StanCorp made the Fortune 1000 list at number 746.[9] The company purchased several retirement plan administrators in July of 2007 to add to their Retirement Services division.[10] As of 2007, all of the divisions employ a total of 3,280 people at approximately 90 offices across the United States.[2] They are headquartered in the Standard Insurance Center in downtown Portland and are one of the only major businesses in the downtown area.
[edit] Products
StanCorp offers primarily insurance products serving other employers.[11] These include group dental, life, disability, and accidental death and dismemberment policies. Additionally, they offer policies for individuals for disability, retirement plans, and annuities.[2]
[edit] External links
[edit] References
- ^ Form 10-K: 2006 Annual Report. StanCorp Financial Group, Inc. Retrieved on February 28, 2008.
- ^ a b c d e Quick Facts. StanCorp Financial Group. Retrieved on February 28, 2008.
- ^ Standard celebrates its 100-year anniversary. Portland Business Journal, February 21, 2006.
- ^ NEW OFFERINGS; Life insurance, dog food on IPO schedule. The Atlanta Journal and Constitution, April 10, 1999.
- ^ StanCorp to pay $75 million for TIAA-CREF group insurance business. Portland Business Journal, May 29, 2002.
- ^ Parsons succeeds Timpe as StanCorp chairman. Portland Business Journal, May 4, 2004.
- ^ Forbes ranks StanCorp among America's best. Portland Business Journal, January 4, 2006.
- ^ Boselovic, Len. Oregon firm buying Invesmart. Pittsburgh Post-Gazette, April 26, 2006.
- ^ Nike makes Fortune 500 list. Portland Business Journal, May 11, 2007.
- ^ Standard Retirement Services buying DPA and MasterPlan Advisors. Portland Business Journal, July 2, 2007.
- ^ StanCorp Financial Group, Inc. Hoover's. Retrieved on February 28, 2008.
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