StanCorp Financial Group has reported net income for the third quarter of 2011 of $47.5m, or $1.07 per diluted share, compared to net income for the third quarter of 2010 of $46.2m, or $0.99 per diluted share.
After-tax net capital gains were $4.8m for the third quarter of 2011, compared to after-tax net capital losses of $18.6m for the third quarter of 2010.
Net income excluding after-tax net capital gains and losses was $0.96 per diluted share for the third quarter of 2011, compared to $1.39 per diluted share for the third quarter of 2010.
Net income for the first nine months of 2011 was $100.0m, or $2.21 per diluted share, compared to net income of $137.0m, or $2.90 per diluted share for the first nine months of 2010.
After-tax net capital losses for the first nine months of 2011 were $5.2m, compared to after-tax net capital losses of $31.1m for the first nine months of 2010.
StanCorp Financial Group president and CEO Greg Ness said third quarter results reflected improved claims experience in our group life insurance business and pockets of improvement in our group long term disability insurance business compared to the first half of this year.