StanCorp Financial Group Inc.’s (SFG) third quarter earnings of $1.21 per share were just a penny ahead of the Zacks Consensus Estimate of $1.20 per share. The company had earned $1.46 per share in the year-ago quarter. High unemployment rate and rising joblessness continue to impact the company’s earnings. Quarterly results reflect higher-than-expected claims activity and reduced premiums in the group insurance business. However, the company benefited from the expense reduction initiatives. Insurance Services segment reported income before income taxes of $84.3 million compared to $103.4 million in the year-ago quarter. The decrease was driven by unfavorable claims experience and a drop in premiums in the group insurance business, partially offset by comparatively favorable claims experience in the individual disability insurance business. Results for this segment were also hurt by a 50 basis point reduction in the discount rate to 4.75% for the newly established disability ...

Earlier today, Unum Group (UNM) named Richard P. McKenney as executive vice president and Chief Financial Officer. Mr. McKenney (40) succeeds Robert C. Greving, who in February 2009 announced his plans to retire later this year.However, Mr. Greving will remain with the insurer for the next several months to ensure a smooth transition. McKenney has served as Executive Vice President and CFO of Sun Life Financial Inc. (SLF) and CFO Genworth Financial Inc. (GNW).UNM provides group and individual disability insurance, long term care insurance, life insurance, employer and employee-paid group benefits, and related services within the United States and the United Kingdom. Read the full analyst report on "UNM"Read the full analyst report on "SLF"Read the full analyst report on "GNW"Zacks Investment Research