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Our Financial Strength and Resiliency

Overview

Dan McMillan

These last few years have shown the importance of financial strength, organizational stability and expertise.

The Standard was founded in 1906 and our fiscally prudent management approach has helped us navigate through periods of significant volatility to ensure we can keep our financial commitments and grow profitably. This approach is built on the strength of our disciplined financial practices, sound investment strategies, unique mix of high-performing businesses, strong products and services and deep expertise.

Our company remains focused on meeting the challenges ahead and taking advantage of opportunities as they arise, all while providing the best possible experience for our customers.

Dan McMillan, President and CEO

Standard Insurance Company   
Financial Strength Ratings

Standard & Poor'sA+(Strong)5th of 20 ratings
Moody'sA1(Good)5th of 21 ratings
A.M. Best*A(Excellent)3rd of 13 ratings

As of Feb. 28, 2023

* Rating includes The Standard Life Insurance Company of New York

Financial Strength Ratings

In the July 2022 issue of Best’s Review, A.M. Best Company recognized Standard Insurance Company for maintaining a financial strength rating of “A” or higher each year since 1928, the first year of A.M. Best’s ratings. The Standard was honored to be among one of only eight life and health insurers to achieve an “A” rating or higher for each of the past 94 years. Given rapidly evolving markets, changing customer needs and challenging economic times, we are proud of this longstanding track record of financial strength.

Portfolio

Bond Portfolio

Our bond portfolio is strong. Our strategy is to maintain a diversified portfolio of high-quality, fixed-maturity securities to keep us well-protected should any industries experience difficulties. As of Dec. 31, 2022, we have:

  • A $13.14 billion portfolio
  • An average portfolio credit quality rating of “A” as measured by Standard & Poor’s

Commercial Mortgage Loan Portfolio

Our commercial mortgage loans have consistently provided a superior balance of risk and return. We offer small commercial mortgage loans to borrowers who want a fixed rate over time, and we rigorously underwrite every commercial mortgage loan we make. The quality of our commercial mortgage loan portfolio is excellent. As of Dec. 31, 2022, we have:

  • A $8.83 billion portfolio (on approximately 5,700 loans)
  • An average loan size of approximately $1.5 million

Balance Sheet as of Dec. 31, 2022 

Assets$38.20 billion

Fixed Maturity Securities

A- or Higher

BBB- to BBB+

BB- to BB+

B+ or Lower

57.0% of cash and investments

63.7%

31.2%

3.4%

1.7%

Commercial Mortgage Loans38.3% of cash and investments
Real Estate and Other   
Invested Assets
2.0% of cash and investments
Cash and Cash Equivalents2.7% of cash and investments

Portfolio Yields

Fixed Maturity Securities

Commercial Mortgage   
Loans

3.98%

4.57%

Capital and surplus of the insurance subsidiaries was in excess of 425% of the Company Action Level Risk-Based Capital required by regulators.
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