A.M. Best Co. affirmed the financial strength rating of “A” (Excellent) of Portland, Ore.-based Standard Insurance Co., a wholly-owned subsidiary of StanCorp Financial Group Inc. Concurrently, A.M. Best affirmed the senior debt rating of “bbb+” on the $250 million 6.88 percent 10-year senior notes issued by StanCorp Financial Group Inc. All ratings have been assigned stable outlooks.
The affirmation of Standard Insurance reflects favorable and consistent earnings, its established presence in the employee benefits market, solid risk adjusted capitalization, positive cash flow and a conservative level of financial leverage. The rating also recognizes the benefit derived from management’s disciplined pricing strategy, which has contributed to continued favorable operating results, unlike other more aggressive players in this market segment.
Additionally, the company has moved to expand its distribution, improve its results and reduce both risk and volatility in its businesses and investment portfolio.
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