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 protect ...

and

financial services Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns finan ...

company based in

Portland, Oregon Portland ( ) is the List of cities in Oregon, most populous city in the U.S. state of Oregon, located in the Pacific Northwest region. Situated close to northwest Oregon at the confluence of the Willamette River, Willamette and Columbia River, ...

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

. 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, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...

History

The company was founded in

Oregon Oregon ( , ) is a U.S. state, state in the Pacific Northwest region of the United States. It is a part of the Western U.S., with the Columbia River delineating much of Oregon's northern boundary with Washington (state), Washington, while 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 (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 founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The co ...

'' 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 {{location map+ , United States , float=right , width=400, relief=1 , caption=''Fortune'' 1000 company headquarters locations. Top 20 companies labeled, places= {{location map~ , United States , lat= 36.365378 , long= -94.217629 , label= Walmart, ...

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 and the Standard Plaza buildings in downtown Portland. Meiji Yasuda Life Insurance Company 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