StanCorp Financial Group has reported total revenues of 691.2m for the second quarter of 2010, a decrease of 0.36% compared to $693.7m for the same quarter in 2009.
The company posted total premiums of $532.9m for the second quarter, compared to $525.7m for the same period last year.
Total income before income taxes were $61.1m for the second quarter of 2010, compared to $85.1m for the same quarter in the year 2009.
For the quarter ended June 30, 2010, the company reported net income of $41.1m, or $0.87 per diluted share, compared to $56.3m, or $1.15 per diluted share, for the same period last year.
Greg Ness, president and CEO of StanCorp Financial, said: “We saw volatile disability claims experience over this most recent quarter, a period that is very short when compared with the long-term perspective with which we manage our business.
“Although the challenging economic conditions continue to impact our customers and the growth of our existing business, we are pleased with the continued strength of our group insurance product sales and with the performance of our asset management segment, which provides diversification.”