The life and health insurers that kicked off the third-quarter earnings reporting season this week recorded profits.
StanCorp Financial Group Inc., Portland, Ore. (NYSE:SFG)
3 Q 2010 Results
NET INCOME: $46 million
REVENUE: $685 million
3 Q 2009 Results
NET INCOME: $60 million
REVENUE: $702 billion
- The company recognized about $30 million in net capital losses on investments for the quarter, compared with $3.4 million in net capital gains recognized for the third quarter of 2009.
- The discount rate used for new long-term disability insurance claim reserves increased to 5%, from 4.75%.
- New group insurance sales held steady at about $60 million, and total group insurance premiums increased 2.2%, to $473 million. Individual disability insurance premiums increased to about $41 million, from $39 million.
- The ratio of individual disability insurance claims to premiums held steady at about 58%.
UnitedHealth Group Inc., Minnetonka, Minn. (NYSE:UNH)