Reuters: Global Markets: StanCorp says higher claims will hurt profit

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StanCorp says higher claims will hurt profit Jul 16th 2012, 21:24 Mon Jul 16, 2012 4:45pm EDT (Reuters) - StanCorp Financial Group (SFG.N) said its second-quarter profit was hurt by higher claims in its disability insurance business, and expects full-year earnings to miss its previous forecast. StanCorp said it expects full-year profit to be below its previously estimated range of $3.60 to $3.90 per share, excluding capital gains and losses. Analysts on an average are expecting full-year earnings of $3.57, excluding items, according to Thomson Reuters I/B/E/S. The company said it would report a second-quarter profit of 51 cents per share, excluding capital gains and losses, lower than the 59 cents per share it earned a year earlier. Analysts are expecting a profit of 86 cents per share in the quarter. Shares of the Portland, Oregon-based company were down 7 percent at $34.38 in trading after the bell. They closed at $37.09 on Monday on the New York Stock Exchange. (Reporting by Jochelle Mendonca in Bangalore; Editing by Roshni Menon)

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