NEW YORK, July 31, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on StanCorp Financial Group, Inc. (NYSE: SFG). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.
Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=SFG
Highlights from our SFG Report include:
- Year-over-Year Growth - On July 23, 2015, StanCorp Financial Group, Inc. released results for the second quarter of 2015. The Company generated total revenue of $734.5 million, higher than $707.1 million in Q2 2014. Net income for the period was recorded at $64.3 million, an increase from $40.8 million in prior year quarter. Consequently, diluted earnings per share of the Company rose to $1.50 from $0.93 in previous year quarter. The increase was primarily due to more favorable claims experience in Employee Benefits and Individual Disability, partially offset by higher operating expenses and higher commissions and bonuses for the second quarter of 2015.
- Insurance Services Segment Performance - In Q2 2015, the Company's insurance service segment generated income before income taxes of $74.7 million, higher than $44.0 million in Q2 2014. The increase was primarily due to more favorable claims experience and higher premiums in employee benefits and individual disability and was partially offset by higher operating expenses and higher commissions and bonuses. Employee Benefits premiums increased 4.6% YoY to $488.9 million for Q2 2015, aided by higher annualized new sales in the first six months of 2015 and favorable retention of existing customers. Individual Disability premiums were $50.9 million during the quarter, compared to $48.9 million in the prior year quarter. The segment recorded premium of $539.8 million, versus $516.2 million in previous year quarter.
- Asset Management Segment under Review - The asset management segment of the Company reported income before income taxes of $24.5 million, an increase from $22.0 million in Q2 2014, supported by higher net investment income. The segment's premium amounted to $2.8 million, lower than $3.0 million in prior year quarter. Assets under administration, which include assets related to retirement plans, individual fixed annuities and commercial mortgage loans managed for third-party investors, increased 2.3% to $26.62 billion at June 30, 2015 from $26.03 billion at June 30, 2014.
- Views of Management - Commenting on the strong second quarter results, Greg Ness, Chairman, President and CEO of StanCorp Financial Group, said, "Our second quarter results build on our strong start to 2015 with solid earnings in all of our businesses. I am especially pleased with increased sales and premium growth, combined with favorable claims experience in Employee Benefits, record earnings in our Individual Disability and Asset Management segments and record commercial mortgage loan originations."
To find out how this influences our rating on StanCorp Financial Group, Inc. read the full report in its entirety here: http://www.aciassociation.com/?c=SFG
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