StanCorp Financial Group

The Standard Closes Acquisition of Life & Disability Business from Elevance Health, Enters Distribution Partnership

Retrieved on: 
Monday, April 1, 2024
General Health, Finance, Health, Professional Services, Insurance, Disability, Growth, Partnership, The Standard, Elevance Health, Life, Acquisition, StanCorp Financial Group, Standard, Employee benefits, Parental leave

StanCorp Financial Group, Inc. (“ The Standard ”) today announced the closing of the acquisition of the Life & Disability business from Elevance Health in accordance with the terms of the agreement reported on March 28, 2023.

Key Points: 
  • StanCorp Financial Group, Inc. (“ The Standard ”) today announced the closing of the acquisition of the Life & Disability business from Elevance Health in accordance with the terms of the agreement reported on March 28, 2023.
  • The agreement includes a 10-year distribution partnership whereby The Standard’s products and services will be made available to Elevance Health customers.
  • The combined life and disability benefits businesses will operate under The Standard brand and include the Elevance Health Life & Disability employees and operations.
  • “We look forward to our continued partnership with The Standard and value their expertise in the Life & Disability business,” said Morgan Kendrick, Executive Vice President and President, Commercial Health Benefits at Elevance Health.

The Standard Announces Retirement of Sally Manafi; Lauren Canfield Named New Corporate Actuary and Chief Risk Officer

Retrieved on: 
Wednesday, March 27, 2024
Fintech, Professional Services, Insurance, Finance, Risk management, Society of Actuaries, The Standard, Retirement, American Academy, University, Bank statement, Mathematics, Investment, Standard Insurance Company, Music, Standard, Multimedia, StanCorp Financial Group, Corporation, Management

Standard Insurance Company ( The Standard ) announced today that Lauren Canfield, assistant vice president and actuary in Actuarial Transformation, will become vice president, corporate actuary and chief risk officer effective April 1, 2024.

Key Points: 
  • Standard Insurance Company ( The Standard ) announced today that Lauren Canfield, assistant vice president and actuary in Actuarial Transformation, will become vice president, corporate actuary and chief risk officer effective April 1, 2024.
  • Canfield will succeed Sally Manafi, vice president, corporate actuary and chief risk officer, who previously announced her decision to retire.
  • View the full release here: https://www.businesswire.com/news/home/20240327644713/en/
    Sally Manafi, Retiring Vice President, Corporate Actuary and Chief Risk Officer at The Standard (Photo: Business Wire)
    “In her previous roles, Lauren provided key actuarial consultation and insight on financial and capital forecasting, investments and across multiple product lines.
  • As vice president, corporate actuary and chief risk officer for StanCorp Financial Group, Inc., Standard Insurance Company and The Standard Life Insurance Company of New York, Canfield will be responsible for enterprise risk management, asset liability management and economic capital management.

StanCorp Financial Group, Inc., and Standard Insurance Company Appoint Barbara Turner to Board of Directors

Retrieved on: 
Tuesday, February 13, 2024
Fintech, Professional Services, Insurance, Finance, Standard, Woman, Standard Insurance Company, Multimedia, Education, StanCorp Financial Group

StanCorp Financial Group, Inc., and its primary operating subsidiary, Standard Insurance Company, have appointed Barbara A. Turner to the board of directors.

Key Points: 
  • StanCorp Financial Group, Inc., and its primary operating subsidiary, Standard Insurance Company, have appointed Barbara A. Turner to the board of directors.
  • View the full release here: https://www.businesswire.com/news/home/20240213218251/en/
    Barbara A. Turner was appointed to the board of directors of StanCorp Financial Group, Inc., and Standard Insurance Company.
  • "Barbara’s long tenure and deep experience as a chief executive in the financial services industry in which we operate is a valuable asset to The Standard,” said Greg Ness, chair of the board of directors.
  • “She brings proven leadership skills and a deep commitment to our company’s purpose, ensuring our customers can achieve financial well-being and peace of mind.”

AM Best Affirms Credit Ratings of Members of Standard Insurance Group and Pacific Guardian Life Insurance Company, Limited

Retrieved on: 
Friday, November 17, 2023
Banking, Professional Services, Finance, Sale, Acquisition, Standard Insurance Company, Risk management, StanCorp Financial Group, ERM, Credit, Mortality, Standard, Insurance, Federal Home Loan Banks, Meiji Yasuda Life, AM Best, COVID-19, Disability, Georgios Mygas, Good, TDI, Securian Financial Group, News, ALL, FSR, Bank

In addition, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Pacific Guardian Life Insurance Company, Limited (Pacific Guardian) (Honolulu, HI).

Key Points: 
  • In addition, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Pacific Guardian Life Insurance Company, Limited (Pacific Guardian) (Honolulu, HI).
  • AM Best notes that The Standard maintains top 10 market positions in group long-term disability, individual disability insurance, group short-term disability and group life insurance products.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.

StanCorp Financial Group, Inc., and Standard Insurance Company Appoint Mark Kaye and Al Barkouli to Board of Directors

Retrieved on: 
Tuesday, May 16, 2023
Professional Services, Technology, Insurance, Finance, Software, Fintech, International Talent Associates, Inc., StanCorp Financial Group, Standard, MassMutual, Multimedia, Standard Insurance Company, Associate, Holding company, Management

StanCorp Financial Group, Inc., and primary operating subsidiary Standard Insurance Company have appointed Mark Kaye and Al Barkouli to their boards of directors.

Key Points: 
  • StanCorp Financial Group, Inc., and primary operating subsidiary Standard Insurance Company have appointed Mark Kaye and Al Barkouli to their boards of directors.
  • View the full release here: https://www.businesswire.com/news/home/20230516005488/en/
    StanCorp Financial Group, Inc., and primary operating subsidiary Standard Insurance Company have appointed Mark Kaye to their boards of directors.
  • Prior to that, he was chief financial officer for Massachusetts Mutual Life Insurance Company U.S. His appointment was effective May 1, 2023.
  • "Mark and Al bring a wealth of executive experience and financial acumen to the board, and we’re delighted to welcome them.

The Standard to Acquire Life & Disability Business from Elevance Health; Companies Announce Future Distribution Partnership

Retrieved on: 
Tuesday, March 28, 2023
Professional Services, Insurance, Human Resources, Finance, Consulting, Banking, Debevoise & Plimpton, Partnership, Elevance Health, Life, Disability, Policy, Mischler Financial Group, Pharmacy, Standard, The Standard, Parental leave, NYSE, Citigroup, StanCorp Financial Group, Acquisition, L&D, ELV, Employee benefits, Growth, Commercial, Barclays, DeBevoise, Health insurance, Life insurance

StanCorp Financial Group, Inc., (The Standard) and Elevance Health (NYSE: ELV) today announced a definitive agreement under which The Standard will acquire the Life & Disability business from Elevance Health and enter into a product distribution partnership.

Key Points: 
  • StanCorp Financial Group, Inc., (The Standard) and Elevance Health (NYSE: ELV) today announced a definitive agreement under which The Standard will acquire the Life & Disability business from Elevance Health and enter into a product distribution partnership.
  • Its Life & Disability unit is a respected provider of life, disability and related employee benefits.
  • The acquisition further expands The Standard’s distribution network and provides a trusted life and disability partner for Elevance Health customers.
  • Upon closing, The Standard will acquire Elevance Health’s life, disability, accidental death and dismemberment, absence management and paid family leave businesses.

The Standard Promotes Jon Shervey to Second Vice President for Customer Service in Employee Benefits

Retrieved on: 
Friday, December 9, 2022
Professional Services, Insurance, Human Resources, Finance, The Standard, Heart, Insurance, StanCorp Financial Group, Multimedia, Standard Insurance Company, Standard, George Fox University, Customer service, Health insurance, Management

Standard Insurance Company (The Standard) announced today that Jon Shervey has been promoted to second vice president for Customer Service in Employee Benefits.

Key Points: 
  • Standard Insurance Company (The Standard) announced today that Jon Shervey has been promoted to second vice president for Customer Service in Employee Benefits.
  • View the full release here: https://www.businesswire.com/news/home/20221209005025/en/
    Jon Shervey, second vice president in Customer Service for Employee Benefits at The Standard.
  • (Photo: Business Wire)
    Shervey joined The Standard in 2003 and has held various roles in Employee Benefits National Accounts, including proposals and new customer implementation.
  • Jon has been at the heart of account operations for the last 15 years in his roles as account consultant and senior director, said Dayna Kirk, vice president of Customer Service and Voluntary at The Standard.

The Standard Names Jessica Krpan, Second Vice President of Business Integration for Retirement Plans

Retrieved on: 
Friday, December 9, 2022
Professional Services, Insurance, Human Resources, Finance, DePaul University, Impax Asset Management Group, FINRA, Pension, Allstate, StanCorp Financial Group, Strategic planning, Multimedia, Growth, Standard Insurance Company, Integrity management, Standard, The Standard, Enterprise application integration, Acquisition, Private investigator, Financial adviser, Krpan

The Standard announced today that Jessica Krpan is joining the company as second vice president of Business Integration for its Retirement Plans business.

Key Points: 
  • The Standard announced today that Jessica Krpan is joining the company as second vice president of Business Integration for its Retirement Plans business.
  • View the full release here: https://www.businesswire.com/news/home/20221209005024/en/
    Jessica Krpan, second vice president of Business Integration for Retirement Plans at The Standard.
  • (Photo: Business Wire)
    In her new role, Krpan will lead the Integration Management office in Retirement Plans, which is charged with incorporating The Standards recent acquisition of Securian Financials recordkeeping business.
  • StanCorp Equities, Inc., Standard Insurance Company, Standard Retirement Services, Inc., and StanCorp Investment Advisers, Inc., are subsidiaries of StanCorp Financial Group, Inc., and all are Oregon corporations.

The Standard Closes on Acquisition of Securian Financial’s Retirement Plan Recordkeeping Business

Retrieved on: 
Thursday, December 1, 2022
Personal Finance, Insurance, Human Resources, Finance, Consulting, Banking, Accounting, Professional Services, Growth, Impax Asset Management Group, Organization, The Standard, Insurance, Retirement, Standard, StanCorp Financial Group, FINRA, Standard Insurance Company, Family, Acquisition, Financial services, Financial adviser, Securian Financial Group

Standard Insurance Company (The Standard) and Securian Financial Group, Inc. (Securian Financial) today announced the closing of the acquisition of Securian Financials retirement plan recordkeeping business by The Standard, in accordance with the terms of the agreement reported on Oct. 18, 2022.

Key Points: 
  • Standard Insurance Company (The Standard) and Securian Financial Group, Inc. (Securian Financial) today announced the closing of the acquisition of Securian Financials retirement plan recordkeeping business by The Standard, in accordance with the terms of the agreement reported on Oct. 18, 2022.
  • I look forward to welcoming Securian Financials retirement plan employees, customers and partners to The Standard.
  • The business will operate under The Standard brand and include Securian Financials retirement solutions employees, management, client relationships and distribution networks.
  • Securian Financial's retirement plan products are offered through a fixed annuity contract issued by Minnesota Life Insurance Company or Securian Life Insurance Company, Securian Financial Group subsidiaries.

AM Best Affirms Credit Ratings of Meiji Yasuda Life Insurance Company’s U.S. Subsidiaries: Standard Insurance Group and Pacific Guardian Life Insurance Company, Limited

Retrieved on: 
Wednesday, November 9, 2022
Insurance, Professional Services, Business, StanCorp Financial Group, Risk management, ERM, Standard, FSR, AM Best, Meiji Yasuda Life, Depreciation, Mortality, Good, Credit, AM, News, District, ALL, TDI, Standard Insurance Company, Policy, Disability, Growth, Industry, Insurance, Income

Concurrently, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of a (Excellent) of Pacific Guardian Life Insurance Company, Limited (Pacific Guardian) (Honolulu, HI).

Key Points: 
  • Concurrently, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of a (Excellent) of Pacific Guardian Life Insurance Company, Limited (Pacific Guardian) (Honolulu, HI).
  • AM Best notes that The Standard maintains top 10 market positions in group long-term disability, individual disability insurance, group short-term disability and group life products.
  • The ratings of The Standard and Pacific Guardian take into consideration the financial strength of their parent company, Meiji Yasuda, and the strategic role The Standard and Pacific Guardian play in the Meiji Yasuda organization.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .