StanCorp Financial Group, Inc. is an

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

and financial services company based in

Portland, Oregon Portland (, ) is a port city in the Pacific Northwest and the list of cities in Oregon, largest city in the U.S. state of Oregon. Situated at the confluence of the Willamette River, Willamette and Columbia River, Columbia rivers, Portland is ...

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...

. In 2006 it ranked as number 731 on the Fortune list with in excess of $2 billion in annual revenues. Founded in 1906, the company's main subsidiary is Standard Insurance Company. From 1999 until 2016, StanCorp was publicly traded on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed ...

History

The company was founded in

Oregon Oregon () is a state in the Pacific Northwest region of the Western United States. The Columbia River delineates much of Oregon's northern boundary with Washington, while the Snake River delineates much of its eastern boundary with Idaho. T ...

in 1906.Quick Facts.
StanCorp Financial Group. Retrieved on February 28, 2008. On February 24, Leo Samuel founded the Oregon Life Insurance Company. In 1946 the company name was changed to Standard Insurance Company. Then in 1962, the company moved its headquarters into the newly constructed Standard Plaza building. Thirty years later, Standard Insurance acquired the Georgia-Pacific Building in 1982 when Georgia-Pacific moved its headquarters to Atlanta, GA. Then in 1998, StanCorp Financial Group, Inc. was created as the holding company for all the business divisions of the company. The following year the company went public, trading on the

. StanCorp's Standard Insurance purchased part of

Teachers Insurance and Annuity Association The Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA, formerly TIAA-CREF), is a Fortune 100 financial services organization that is the leading provider of financial services in the academic, research, ...

(TIAA) group life and disability portfolio in 2002 for $75 million. In May 2004, Ron Timpe was succeeded by CEO Eric Parsons as the company's chairman of the board of directors. In January 2006, StanCorp was named to the Platinum 400 by ''

Forbes ''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also r ...

'' magazine for the fourth year. Later in 2006, the company purchased investment services firm Invesmart for $85 million. In 2007, StanCorp made the

Fortune 1000 The Fortune 1000 are the 1,000 largest American companies ranked by revenues, as compiled by the American business magazine ''Fortune''. It only includes companies which are incorporated or authorized to do business in the United States, and for ...

list at number 746. The company purchased several retirement plan administrators in July 2007 to add to their Retirement Services division. As of 2007, all of the divisions employ a total of 3,280 people at approximately 90 offices across the United States. They are headquartered in the

Standard Insurance Center The Standard Insurance Center, originally the Georgia-Pacific Building, is a 27-story office building in Portland, Oregon. Completed in 1970, it currently serves as part of the headquarters of The Standard, the brand name under which Standard In ...

and the Standard Plaza buildings in downtown Portland.

Meiji Yasuda Life Insurance Company is a Japanese life insurance company, headquartered in Tokyo and created in 2004 from the merger of Meiji Life and Yasuda Life. The company is one of the oldest and largest insurers in Japan. The Meiji Yasuda Life Insurance Company is a memb ...

announced it would purchase StanCorp for $5 billion in July 2015. The deal was completed in March 2016.

References

External links

About StanCorp
{{DEFAULTSORT:Stancorp Financial Group Companies based in Portland, Oregon Insurance companies of the United States Companies formerly listed on the New York Stock Exchange Financial services companies established in 1906 1906 establishments in Oregon Meiji Yasuda Life 1999 initial public offerings 2016 mergers and acquisitions American subsidiaries of foreign companies

History

See also

References

External links