Standard Insurance Company

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Standard Insurance Company
TypeSubsidiary
IndustryInsurance & Finance
Founded1906
Founder(s)Leo Samuel.[1]
HeadquartersPortland, Oregon, USA
Key peopleJ. Gregory Ness, Chairman and CEO
Employees3400
Websitewww.standard.com
 
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For the British life assurance company, see Standard Life.
Standard Insurance Company
TypeSubsidiary
IndustryInsurance & Finance
Founded1906
Founder(s)Leo Samuel.[1]
HeadquartersPortland, Oregon, USA
Key peopleJ. Gregory Ness, Chairman and CEO
Employees3400
Websitewww.standard.com

Standard Insurance Company, also branded as The Standard, is an American insurance and financial company which is a subsidiary of StanCorp Financial Group, headquartered in Portland, Oregon.

The Standard covers 8.5 million people (June 30, 2008) in the USA through and out of above 30000 employers with group and individual disability insurance, group life, AD&D and dental insurance, retirement plans products and services, individual annuities. It is licensed in 49 states and Washington, DC. In New York it has Standard Life Insurance Company of New York. The average loan-to-value ratio on new loans was 64 percent in 2008. Standard Insurance Company maintains an “A” rating or higher from A.M. Best Company since 1928. Assets $14.56 billion (March 31, 2009). 3,400 employees in 2008. In December 2005 revenue was $2,147,500,000.

On February 24, 1906 Leo Samuel, a German immigrant, founded the Oregon Life Insurance Company.[2] [1] In 1946 the company name was changed to Standard Insurance Company.[3]

In 2006, on a 100th anniversary celebration the company launched The Standard Charitable Foundation with emphasis on helping individuals and families who have experienced a loss or setback such as a major disability or the loss of a loved one.

Standard's headquarters in Portland are located in the Standard Insurance Center. The company also has offices in Standard Plaza. It owns both buildings.

References[edit]

  1. ^ a b About founding and the founder Leo Samuel
  2. ^ Standard celebrates its 100-year anniversary. Portland Business Journal, February 21, 2006.
  3. ^ Quick Facts. StanCorp Financial Group. Retrieved on February 28, 2008.