Release| Standard Insurance Company and M Financial Group Enter into Marketing and Distribution Agreement | PORTLAND, Ore.--(BUSINESS WIRE)--July 9, 2001--Standard Insurance
Company ("The Standard") and M Financial Group today announced that
they have entered into a marketing and distribution agreement. Under
the arrangement, The Standard aligns with M Financial Group's unique
distribution channel to market The Standard's group insurance products
and executive benefits.
"M Financial Group has an outstanding reputation for serving the
professional and corporate market," said Bob Reiff, vice president,
Sales at The Standard. "We see an opportunity to offer product and
service differentiation, which is valued by M Financial Group's
customers. Entering this relationship with M Financial Group helps us
to reach that market more effectively."
Dan Byrne, senior vice president at M Financial Group, stated, "We
view Standard Insurance Company as an important new partner in our
growing employee benefits and multi-life individual disability
business. The Standard's products and services are well suited to the
markets that our member firms serve, and will broaden the range of
disability solutions we can deliver in this market," Byrne said.
The Standard, a national leader in disability insurance products,
markets group and individual disability coverage to employees and
executives through employer-sponsored executive benefits plans. Under
the marketing and distribution agreement, M Financial Group producers
will also market The Standard's executive benefits plans, as well as
group insurance products, including long term disability, life and
dental.
"M Financial Group and The Standard share a common vision and
business strategy," said Dave Watros, vice president, M Financial
Group. "The disability market today demands a more holistic approach
to meeting the needs of the corporate buyer. The Standard's products
provide a comprehensive solution," said Watros.
"We provide integrated group and individual products to fully
serve executives, while offering administrative ease and convenience
for employers," said Dan Stancil, assistant vice president, Executive
Benefits at The Standard.
About The Standard and StanCorp Financial Group, Inc.
Standard Insurance Company, a subsidiary of StanCorp Financial
Group, Inc. ("StanCorp") (NYSE:SFG) is a leading provider of employee
benefits products and services. Founded in Portland, Oregon in 1906,
The Standard now serves customers nationwide with group and individual
disability insurance and retirement plans, and group life and dental
insurance. The Standard is licensed in 49 states and the District of
Columbia, and is accredited for reinsurance in New York. The
Standard's Employee Benefits Division has nearly 34,000 group
insurance policies in force, covering over 5.2 million employees. For
more information about Standard Insurance Company, visit its Web site
at www.standard.com.
About M Financial Group
M Financial Group is a unique nationwide organization of more than
100 independent insurance, investment, and executive benefit firms
serving the financial needs of highly successful individuals,
corporate executives, entrepreneurs, and Fortune 1000 companies. For
more information about M Financial Group, visit its Web site at
www.mfin.com.
Disclosure
Certain statements contained in this news release, including
statements related to projected growth, future events, regulatory
actions, the intent, belief, or current expectations of StanCorp's
management, the future operating performance of StanCorp, and other
statements regarding matters that are not historical facts, are
"forward-looking" statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. Because such statements are
subject to risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements. Factors that could cause actual results to differ
materially from those expressed or implied by such forward-looking
statements include, but are not limited to, uncertainties regarding
those risks and uncertainties disclosed in StanCorp's 2000 Form 10-K
and 2001 Forms 10-Q.
CONTACT:
Standard Insurance Company
Product Information
Mike Skiens, AVP, Group Marketing, 503/321-6215
mskiens@standard.com
OR
Corporate Information
Kira Higgs, AVP, Corporate Communications,
503/321-6418
khiggs@standard.com
OR
Investor Relations Information
Scott Hibbs, AVP, Investor Relations, 503/321-7529
shibbs@standard.com
OR
M Financial Group
Mary Morris, Director, Communications, 503/736-2906
mmorris@mfin.com
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