Exhibit 99.2

STANCORP FINANCIAL GROUP, INC.

STATISTICAL SUPPLEMENT

December 31, 2006

(Unaudited)

	Page
Financial Results:
Consolidated Financial Highlights	1
Consolidated Financial Results	2
Results by Segment	3
Insurance Services Segment	4
Insurance Services Segment Statistics	5
Asset Management Segment	6
Other	7
Balance Sheets and Investment Statistics:
Consolidated Balance Sheets	8
Invested Asset Statistics	9
Other Investment Statistics	10

Financial measures that exclude after-tax net capital gains and losses and accumulated other comprehensive income (loss) are non-GAAP (Generally Accepted Accounting Principles in the United States) measures. To provide investors with a broader understanding of earnings, the Company provides net income per diluted share excluding after-tax net capital gains and losses, along with the GAAP measure of net income per diluted share, because capital gains and losses are not likely to occur in a stable pattern.

Return on average equity excluding after-tax net capital gains and losses from net income and accumulated other comprehensive income (loss) from equity is furnished along with the GAAP measure of net income return on average equity because management believes providing both gives investors a broader understanding of return on equity. Measuring return on average equity without accumulated other comprehensive income (loss) excludes the effect of market value fluctuations of the Company’s fixed maturity securities primarily associated with changes in interest rates. Management believes that measuring return on average equity without accumulated other comprehensive income (loss) is important to investors because the turnover of the Company’s portfolio of fixed maturity securities may not be such that unrealized gains and losses reflected in accumulated other comprehensive income (loss) are ultimately realizable. Furthermore, for the purpose of calculating this ratio, management believes exclusion of other comprehensive income (loss) provides investors a better measure of return.

Certain prior period amounts may have been reclassified to conform to the current period’s presentation.

StanCorp Financial Group, Inc.

1100 SW Sixth Avenue

Portland, Oregon 97204

Investor Inquiries:

Jeff Hallin

Phone: (971)321-6127

Fax: (971)321-5037

Email: jhallin@standard.com

Web site address: http://www.stancorpfinancial.com

STANCORP FINANCIAL GROUP, INC.

Financial Highlights

(Dollars in millions - except share data)

CONSOLIDATED

																2006												2005
2002			2003			2004			2005			2006				4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr
															Income (loss) before income taxes:
$	181.0		$	221.4		$	264.6		$	300.1		$	282.4		Insurance Services	$	93.0		$	74.3		$	60.8		$	54.3		$	87.3		$	74.8		$	75.8		$	62.2
	16.3			24.9			31.1			30.9			38.4		Asset Management		10.3			11.1			8.1			8.9			8.0			8.7			7.6			6.6
	(25.3	)		(6.5	)		(3.7	)		(5.4	)		(11.1	)	Other		(1.2	)		(3.0	)		(3.1	)		(3.8	)		(3.7	)		2.0			(1.8	)		(1.9	)
	172.0			239.8			292.0			325.6			309.7		Total income before income taxes		102.1			82.4			65.8			59.4			91.6			85.5			81.6			66.9
	61.0			83.5			92.6			114.5			105.9		Income taxes		34.6			27.7			22.9			20.7			33.3			29.6			28.3			23.3
$	111.0		$	156.3		$	199.4		$	211.1		$	203.8		Net income	$	67.5		$	54.7		$	42.9		$	38.7		$	58.3		$	55.9		$	53.3		$	43.6
															Net income per common share:
$	1.89		$	2.70		$	3.49		$	3.81		$	3.77		Basic	$	1.26		$	1.02		$	0.79		$	0.71		$	1.07		$	1.02		$	0.96		$	0.77
	1.86			2.66			3.45			3.76			3.73		Diluted		1.25			1.01			0.78			0.70			1.06			1.01			0.95			0.76
															Share data:
	58,871,840			57,979,100			57,192,206			55,465,215			54,079,033		Basic weighted-average		53,405,134			53,885,501			54,499,280			54,540,822			54,520,141			54,963,142			55,722,128			56,721,932
	59,544,804			58,669,118			57,838,188			56,076,666			54,688,114		Diluted weighted-average		53,916,104			54,410,978			55,122,474			55,240,792			55,182,441			55,515,124			56,248,332			57,387,012
	58,370,552			58,601,446			56,889,678			54,712,936			53,592,178		At period end		53,592,178			53,576,193			54,488,804			54,711,551			54,712,936			54,734,184			55,341,250			56,688,106
$	111.0		$	156.3		$	199.4		$	211.1		$	203.8		Net income	$	67.5		$	54.7		$	42.9		$	38.7		$	58.3		$	55.9		$	53.3		$	43.6
	(12.6	)		6.0			7.4			1.4			1.2		After-tax net capital gains (losses)		1.8			1.4			(0.3	)		(1.7	)		(0.5	)		2.4			0.3			(0.8	)
$	123.6		$	150.3		$	192.0		$	209.7		$	202.6		Net income excluding after-tax net capital gains (losses)	$	65.7		$	53.3		$	43.2		$	40.4		$	58.8		$	53.5		$	53.0		$	44.4
$	(19.7	)	$	9.3		$	11.5		$	2.2		$	1.9		Net capital gains (losses)	$	2.8		$	2.1		$	(0.3	)	$	(2.7	)	$	(0.8	)	$	3.7		$	0.5		$	(1.2	)
	(7.1	)		3.3			4.1			0.8			0.7		Taxes on net capital gains (losses)		1.0			0.7			—			(1.0	)		(0.3	)		1.3			0.2			(0.4	)
$	(12.6	)	$	6.0		$	7.4		$	1.4		$	1.2		After-tax net capital gains (losses)	$	1.8		$	1.4		$	(0.3	)	$	(1.7	)	$	(0.5	)	$	2.4		$	0.3		$	(0.8	)
															Diluted earnings per common share:
$	1.86		$	2.66		$	3.45		$	3.76		$	3.73		Net income	$	1.25		$	1.01		$	0.78		$	0.70		$	1.06		$	1.01		$	0.95		$	0.76
	(0.22	)		0.10			0.13			0.02			0.03		After-tax net capital gains (losses)		0.03			0.03			—			(0.03	)		(0.01	)		0.05			0.01			(0.01	)
$	2.08		$	2.56		$	3.32		$	3.74		$	3.70		Net income excluding after-tax net capital gains (losses)	$	1.22		$	0.98		$	0.78		$	0.73		$	1.07		$	0.96		$	0.94		$	0.77
$	1,152.6		$	1,309.5		$	1,401.1		$	1,413.8		$	1,464.5		Shareholders’ equity	$	1,464.5		$	1,462.3		$	1,373.9		$	1,385.3		$	1,413.8		$	1,414.5		$	1,449.6		$	1,385.8
	147.4			160.3			136.1			59.8			(8.1	)	Accumulated other comprehensive income (loss)		(8.1	)		24.3			(49.4	)		(6.7	)		59.8			82.7			149.2			86.2
$	1,005.2		$	1,149.2		$	1,265.0		$	1,354.0		$	1,472.6		Shareholders’ equity excluding accumulated other comprehensive income (loss)	$	1,472.6		$	1,438.0		$	1,423.3		$	1,392.0		$	1,354.0		$	1,331.8		$	1,300.4		$	1,299.6
	10.4	%		12.7	%		14.7	%		15.0	%		14.2	%	Net income return on average equity		18.5	%		15.4	%		12.4	%		11.1	%		16.5	%		15.6	%		15.0	%		12.5	%
	11.4			14.5			16.5			16.1			14.4		Net income return on average equity (excluding accumulated other comprehensive income (loss))		18.6			15.3			12.2			11.3			17.4			17.0			16.4			13.6
	12.7			14.0			15.9			16.0			14.3		Net income return on average equity (excluding after-tax net capital gains (losses) and accumulated other comprehensive income (loss))		18.1			14.9			12.3			11.8			17.5			16.3			16.3			13.9
															Book value per common share:
$	19.75		$	22.35		$	24.63		$	25.84		$	27.33		Including accumulated other comprehensive income (loss)	$	27.33		$	27.29		$	25.21		$	25.32		$	25.84		$	25.84		$	26.19		$	24.45
	2.53			2.74			2.39			1.09			(0.15	)	Accumulated other comprehensive income (loss)		(0.15	)		0.45			(0.91	)		(0.12	)		1.09			1.51			2.69			1.52
$	17.22		$	19.61		$	22.24		$	24.75		$	27.48		Excluding accumulated other comprehensive income (loss)	$	27.48		$	26.84		$	26.12		$	25.44		$	24.75		$	24.33		$	23.50		$	22.93
	2,465			2,630			2,770			2,798			3,280		Number of employees		3,280			3,239			2,828			2,806			2,798			2,768			2,788			2,772

Page 1

STANCORP FINANCIAL GROUP, INC.

Financial Results

(In millions)

CONSOLIDATED

																2006												2005
2002			2003			2004			2005			2006				4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr
															Revenues:
$	1,366.8		$	1,589.0		$	1,654.0		$	1,826.5		$	1,935.0		Premiums	$	501.2		$	479.4		$	481.4		$	473.0		$	468.1		$	457.1		$	453.0		$	448.3
	23.9			28.4			33.7			43.3			77.1		Administrative fees		26.5			25.1			13.1			12.4			12.3			11.0			10.4			9.6
	379.2			435.3			445.3			465.2			478.9		Net investment income		122.0			120.5			117.5			118.9			119.4			116.8			113.3			115.7
	(19.7	)		9.3			11.5			2.2			1.9		Net capital gains (losses)		2.8			2.1			(0.3	)		(2.7	)		(0.8	)		3.7			0.5			(1.2	)
	1,750.2			2,062.0			2,144.5			2,337.2			2,492.9		Total revenues		652.5			627.1			611.7			601.6			599.0			588.6			577.2			572.4
															Benefits and expenses:
	1,117.1			1,297.8			1,291.2			1,392.3			1,513.1		Benefits to policyholders		371.3			374.1			385.3			382.4			350.2			352.7			339.9			349.5
	72.9			75.0			76.5			84.0			97.7		Interest credited		26.1			25.3			23.7			22.6			22.1			21.2			20.6			20.1
	243.4			275.3			298.5			340.6			370.3		Operating expenses		101.3			93.2			88.1			87.7			86.7			82.3			86.6			85.0
	132.6			144.1			154.4			168.5			183.6		Commissions and bonuses		47.2			45.5			43.9			47.0			42.3			40.9			40.6			44.7
	23.0			24.6			29.4			32.0			34.6		Premium taxes		8.6			9.2			8.5			8.3			8.3			7.8			8.0			7.9
	5.0			17.5			17.7			18.0			17.9		Interest expense		4.5			4.5			4.4			4.5			4.6			4.4			4.6			4.4
	(39.1	)		(46.6	)		(57.7	)		(61.6	)		(78.5	)	Deferral of acquisition costs		(20.0	)		(18.8	)		(18.1	)		(21.6	)		(15.5	)		(15.4	)		(14.2	)		(16.5	)
	23.3			34.5			42.5			37.8			44.5		Amortization of deferred acquisition costs, value of business acquired and intangibles		11.4			11.7			10.1			11.3			8.7			9.2			9.5			10.4
	1,578.2			1,822.2			1,852.5			2,011.6			2,183.2		Total benefits and expenses		550.4			544.7			545.9			542.2			507.4			503.1			495.6			505.5
	172.0			239.8			292.0			325.6			309.7		Income before income taxes		102.1			82.4			65.8			59.4			91.6			85.5			81.6			66.9
	61.0			83.5			92.6			114.5			105.9		Income taxes		34.6			27.7			22.9			20.7			33.3			29.6			28.3			23.3
	111.0			156.3			199.4			211.1			203.8		Net income		67.5			54.7			42.9			38.7			58.3			55.9			53.3			43.6
															Other comprehensive income (loss), net of tax:
	114.8			15.5			(13.3	)		(67.5	)		(41.7	)	Unrealized capital gains (losses) on securities available-for-sale, net		(7.5	)		74.1			(42.0	)		(66.3	)		(18.8	)		(65.3	)		65.4			(48.8	)
	(0.7	)		(2.6	)		(10.9	)		(8.8	)		(1.7	)	Reclassification adjustment for net capital (gains) losses included in net income, net		(0.4	)		(0.4	)		(0.7	)		(0.2	)		(4.1	)		(1.2	)		(2.4	)		(1.1	)
	—			—			—			—			(24.5	)	Minimum pension liability adjustment		(24.5	)		—			—			—			—			—			—			—
	114.1			12.9			(24.2	)		(76.3	)		(67.9	)	Total		(32.4	)		73.7			(42.7	)		(66.5	)		(22.9	)		(66.5	)		63.0			(49.9	)
$	225.1		$	169.2		$	175.2		$	134.8		$	135.9		Comprehensive income (loss)	$	35.1		$	128.4		$	0.2		$	(27.8	)	$	35.4		$	(10.6	)	$	116.3		$	(6.3	)
															Statutory data - insurance subsidiaries:
$	111.9		$	214.2		$	275.8		$	314.0		$	271.1		Net gain from operations before federal income taxes	$	88.4		$	70.7		$	57.1		$	54.9		$	89.4		$	92.8		$	82.2		$	49.6
	33.1			138.9			191.5			207.5			172.8		Net gain from operations after federal income taxes and before realized capital gains (losses)		58.0			45.2			32.2			37.4			54.2			64.5			56.3			32.5
	817.6			876.1			942.5			968.7			967.5		Capital and surplus		967.5			940.3			897.6			1,003.7			968.7			1,068.8			1,026.7			970.0
	35.8			54.3			73.8			88.2			96.6		Asset valuation reserve		96.6			91.9			88.7			88.7			88.2			80.4			81.4			76.7

Page 2

STANCORP FINANCIAL GROUP, INC.

Financial Results

(In millions)

RESULTS BY SEGMENT

																2006												2005
2002			2003			2004			2005			2006				4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr
															Revenues:
															Premiums:
$	1,359.7		$	1,584.3		$	1,650.0		$	1,816.4		$	1,927.4		Insurance Services	$	498.8		$	478.0		$	479.7		$	470.9		$	465.6		$	452.4		$	451.3		$	447.1
	7.1			4.7			4.0			10.1			7.6		Asset Management		2.4			1.4			1.7			2.1			2.5			4.7			1.7			1.2
	1,366.8			1,589.0			1,654.0			1,826.5			1,935.0		Total premiums		501.2			479.4			481.4			473.0			468.1			457.1			453.0			448.3
															Administrative fees:
	5.9			6.4			6.9			8.8			8.7		Insurance Services		2.0			2.1			2.4			2.2			2.8			2.0			2.0			2.0
	22.4			26.8			32.0			40.6			78.3		Asset Management		27.1			25.5			13.0			12.7			11.1			10.6			9.8			9.1
	(4.4	)		(4.8	)		(5.2	)		(6.1	)		(9.9	)	Other		(2.6	)		(2.5	)		(2.3	)		(2.5	)		(1.6	)		(1.6	)		(1.4	)		(1.5	)
	23.9			28.4			33.7			43.3			77.1		Total administrative fees		26.5			25.1			13.1			12.4			12.3			11.0			10.4			9.6
															Net investment income:
	258.3			305.4			302.5			303.3			313.4		Insurance Services		80.0			79.4			76.7			77.3			76.9			77.0			73.8			75.6
	116.4			123.1			133.9			140.3			151.3		Asset Management		39.3			39.6			36.7			35.7			35.9			35.2			34.9			34.3
	4.5			6.8			8.9			21.6			14.2		Other		2.7			1.5			4.1			5.9			6.6			4.6			4.6			5.8
	379.2			435.3			445.3			465.2			478.9		Total net investment income		122.0			120.5			117.5			118.9			119.4			116.8			113.3			115.7
	(19.7	)		9.3			11.5			2.2			1.9		Net capital gains (losses)		2.8			2.1			(0.3	)		(2.7	)		(0.8	)		3.7			0.5			(1.2	)
	1,750.2			2,062.0			2,144.5			2,337.2			2,492.9		Total revenues		652.5			627.1			611.7			601.6			599.0			588.6			577.2			572.4
															Benefits and expenses:
	1,442.9			1,674.7			1,694.8			1,828.4			1,967.1		Insurance Services		487.8			485.2			498.0			496.1			458.0			456.6			451.3			462.5
	129.6			129.7			138.8			160.1			198.8		Asset Management		58.5			55.4			43.3			41.6			41.5			41.8			38.8			38.0
	5.7			17.8			18.9			23.1			17.3		Other		4.1			4.1			4.6			4.5			7.9			4.7			5.5			5.0
	1,578.2			1,822.2			1,852.5			2,011.6			2,183.2		Total benefits and expenses		550.4			544.7			545.9			542.2			507.4			503.1			495.6			505.5
															Income (loss) before income taxes:
	181.0			221.4			264.6			300.1			282.4		Insurance Services		93.0			74.3			60.8			54.3			87.3			74.8			75.8			62.2
	16.3			24.9			31.1			30.9			38.4		Asset Management		10.3			11.1			8.1			8.9			8.0			8.7			7.6			6.6
	(25.3	)		(6.5	)		(3.7	)		(5.4	)		(11.1	)	Other		(1.2	)		(3.0	)		(3.1	)		(3.8	)		(3.7	)		2.0			(1.8	)		(1.9	)
	172.0			239.8			292.0			325.6			309.7		Total income before income taxes		102.1			82.4			65.8			59.4			91.6			85.5			81.6			66.9
	61.0			83.5			92.6			114.5			105.9		Income taxes		34.6			27.7			22.9			20.7			33.3			29.6			28.3			23.3
$	111.0		$	156.3		$	199.4		$	211.1		$	203.8		Net income	$	67.5		$	54.7		$	42.9		$	38.7		$	58.3		$	55.9		$	53.3		$	43.6

Page 3

STANCORP FINANCIAL GROUP, INC.

Financial Results

(Dollars in millions)

INSURANCE SERVICES SEGMENT

																2006												2005
2002			2003			2004			2005			2006				4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr
															Revenues:
$	1,359.7		$	1,584.3		$	1,650.0		$	1,816.4		$	1,927.4		Premiums	$	498.8		$	478.0		$	479.7		$	470.9		$	465.6		$	452.4		$	451.3		$	447.1
	5.9			6.4			6.9			8.8			8.7		Administrative fees		2.0			2.1			2.4			2.2			2.8			2.0			2.0			2.0
	258.3			305.4			302.5			303.3			313.4		Net investment income		80.0			79.4			76.7			77.3			76.9			77.0			73.8			75.6
	1,623.9			1,896.1			1,959.4			2,128.5			2,249.5		Total revenues		580.8			559.5			558.8			550.4			545.3			531.4			527.1			524.7
															Benefits and expenses:
	1,098.1			1,284.2			1,278.4			1,372.9			1,497.1		Benefits to policyholders		367.1			370.5			381.3			378.2			345.2			345.8			336.0			345.9
	4.7			4.9			4.5			8.1			13.3		Interest credited		3.7			3.6			3.2			2.8			2.4			2.1			2.0			1.6
	205.3			235.9			253.4			284.2			291.8		Operating expenses		75.5			68.8			73.4			74.1			70.2			69.3			72.6			72.1
	122.0			129.9			134.4			148.0			155.5		Commissions and bonuses		38.5			39.2			37.3			40.5			37.7			35.5			35.6			39.2
	23.0			24.6			29.4			32.0			34.6		Premium taxes		8.6			9.2			8.5			8.3			8.3			7.8			8.0			7.9
	(32.7	)		(37.3	)		(44.9	)		(50.1	)		(62.4	)	Deferral of acquisition costs		(14.9	)		(15.5	)		(14.2	)		(17.8	)		(13.3	)		(12.1	)		(11.2	)		(13.5	)
	22.5			32.5			39.6			33.3			37.2		Amortization of deferred acquisition costs, value of business acquired and intangibles		9.3			9.4			8.5			10.0			7.5			8.2			8.3			9.3
	1,442.9			1,674.7			1,694.8			1,828.4			1,967.1		Total benefits and expenses		487.8			485.2			498.0			496.1			458.0			456.6			451.3			462.5
$	181.0		$	221.4		$	264.6		$	300.1		$	282.4		Income before income taxes	$	93.0		$	74.3		$	60.8		$	54.3		$	87.3		$	74.8		$	75.8		$	62.2
															Benefit ratio (including interest credited):
	67.9	%		68.0	%		65.5	%		64.9	%		67.1	%	% of total revenues		63.8	%		66.9	%		68.8	%		69.2	%		63.7	%		65.5	%		64.1	%		66.2	%
	81.1			81.4			77.8			76.0			78.4		% of total premiums		74.3			78.3			80.2			80.9			74.7			76.9			74.9			77.7
															Statistics (% of total premiums):
	15.1	%		14.9	%		15.4	%		15.6	%		15.1	%	Operating expenses		15.1	%		14.4	%		15.3	%		15.7	%		15.1	%		15.3	%		16.1	%		16.1	%
	13.3			14.0			16.0			16.5			14.7		Income before income taxes		18.6			15.5			12.7			11.5			18.8			16.5			16.8			13.9

Page 4

STANCORP FINANCIAL GROUP, INC.

Insurance Services Segment Statistics

(Dollars in millions)

INSURANCE SERVICES SEGMENT

																2006												2005
2002			2003			2004			2005			2006				4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr
															Group Insurance:
															Premiums:
$	498.0		$	606.3		$	611.1		$	681.0		$	735.0		Life and AD&D	$	189.6		$	182.5		$	181.7		$	181.2		$	173.6		$	168.4		$	170.4		$	168.6
	583.4			686.1			714.5			780.7			809.9		LTD		205.7			202.2			202.7			199.3			198.9			193.1			194.7			194.0
	145.2			162.9			177.8			191.7			211.1		STD		54.9			52.7			52.7			50.8			49.6			47.5			46.1			48.5
	71.2			63.9			64.8			73.8			72.9		Other		18.2			18.7			18.3			17.7			17.6			19.7			18.3			18.2
	(13.5	)		(18.6	)		(11.7	)		(20.2	)		(22.6	)	Experience rated refunds		(3.1	)		(8.7	)		(5.3	)		(5.5	)		(6.2	)		(3.0	)		(3.0	)		(8.0	)
$	1,284.3		$	1,500.6		$	1,556.5		$	1,707.0		$	1,806.3		Total premiums	$	465.3		$	447.4		$	450.1		$	443.5		$	433.5		$	425.7		$	426.5		$	421.3
															Benefit ratio (including interest credited):
	69.1	%		69.3	%		66.3	%		65.7	%		68.0	%	% of total revenues		65.0	%		68.1	%		70.2	%		68.8	%		65.2	%		65.3	%		65.3	%		67.0	%
	80.5			81.3			77.4			75.8			78.3		% of total premiums		74.7			78.7			80.7			79.2			75.3			75.6			75.0			77.4
															Statistics (% of total premiums):
	14.5	%		14.2	%		14.8	%		15.2	%		14.9	%	Operating expenses		14.9	%		14.1	%		15.0	%		15.4	%		14.9	%		14.9	%		15.5	%		15.6	%
	12.3			13.0			15.5			16.0			14.2		Income before income taxes		17.8			14.4			11.8			12.6			17.2			17.0			16.0			13.8
															Sales (annualized new premiums) reported at contract effective date:
$	113.1		$	134.6		$	118.6		$	148.4		$	138.0		Life and AD&D	$	38.0		$	30.5		$	13.4		$	56.1		$	42.9		$	22.8		$	19.5		$	63.2
	88.0			80.1			133.5			106.4			114.1		LTD		33.6			17.0			19.1			44.4			31.9			15.3			17.0			42.2
	42.3			45.5			51.3			43.8			42.1		STD		8.7			5.6			14.4			13.4			10.8			5.0			5.3			22.7
	21.0			18.7			26.9			26.3			23.6		Other		5.5			3.6			4.3			10.2			9.6			7.6			3.5			5.6
$	264.4		$	278.9		$	330.3		$	324.9		$	317.8		Total	$	85.8		$	56.7		$	51.2		$	124.1		$	95.2		$	50.7		$	45.3		$	133.7
															Persistency (% of premiums):*
	88.0	%		89.7	%		86.0	%		89.4	%		89.0	%	Life
	88.1			85.5			87.5			89.9			88.9		LTD
	75.6			57.5			72.6			80.3			76.0		Dental
	85.1			84.9			83.0			82.9			87.8		Other A&H
	86.9	%		85.6	%		85.6	%		88.2	%		88.1	%	Total
															Individual Disability:
$	75.4		$	83.7		$	93.5		$	109.4		$	121.1		Premiums	$	33.5		$	30.6		$	29.6		$	27.4		$	32.1		$	26.7		$	24.8		$	25.8
															Benefit ratio:
	54.1	%		51.1	%		54.4	%		54.8	%		56.9	%	% of total revenues		50.8	%		51.9	%		51.3	%		75.0	%		47.4	%		67.4	%		49.0	%		56.3	%
	91.1			82.7			83.2			79.2			79.4		% of total premiums		69.0			72.2			71.6			108.4			65.4			98.1			72.6			82.9
															Statistics (% of revenue):
	15.3	%		16.5	%		15.7	%		15.5	%		13.9	%	Operating expenses		13.2	%		13.4	%		14.5	%		14.6	%		12.6	%		15.2	%		17.4	%		17.1	%
	17.8			19.9			15.8			17.0			15.5		Income before income taxes		22.6			22.8			18.9			(4.0	)		28.7			5.9			20.7			11.1
$	11.5		$	16.0		$	18.9		$	21.5		$	21.5		Disability sales	$	5.5		$	5.8		$	5.2		$	5.0		$	5.6		$	5.7		$	5.8		$	4.4
	94.3	%		95.1	%		95.6	%		95.5	%		95.1	%	Disability persistency (% of premiums)

* Does not include the block of business assumed from Teachers Insurance and Annuity Association of America effective October 1, 2002.

Page 5

STANCORP FINANCIAL GROUP, INC.

Financial Results

(Dollars in millions)

ASSET MANAGEMENT SEGMENT

																2006												2005
2002			2003			2004			2005			2006				4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr
															Revenues:
$	7.1		$	4.7		$	4.0		$	10.1		$	7.6		Premiums	$	2.4		$	1.4		$	1.7		$	2.1		$	2.5		$	4.7		$	1.7		$	1.2
	22.4			26.8			32.0			40.6			78.3		Administrative fees		27.1			25.5			13.0			12.7			11.1			10.6			9.8			9.1
	116.4			123.1			133.9			140.3			151.3		Net investment income		39.3			39.6			36.7			35.7			35.9			35.2			34.9			34.3
	145.9			154.6			169.9			191.0			237.2		Total revenues		68.8			66.5			51.4			50.5			49.5			50.5			46.4			44.6
															Benefits and expenses:
	19.0			13.6			12.8			19.4			16.0		Benefits to policyholders		4.2			3.6			4.0			4.2			5.0			6.9			3.9			3.6
	67.6			70.1			72.0			75.9			84.4		Interest credited		22.4			21.7			20.5			19.8			19.7			19.1			18.6			18.5
	37.7			38.9			43.8			50.9			78.6		Operating expenses		26.1			24.6			14.4			13.5			13.1			12.6			13.0			12.2
	10.6			14.2			20.0			20.5			28.1		Commissions and bonuses		8.7			6.3			6.6			6.5			4.6			5.4			5.0			5.5
	0.3			0.2			0.1			0.4			0.5		Interest expense		0.1			0.2			0.1			0.1			0.1			0.1			0.1			0.1
	(6.4	)		(9.3	)		(12.8	)		(11.5	)		(16.1	)	Deferral of acquisition costs		(5.1	)		(3.3	)		(3.9	)		(3.8	)		(2.2	)		(3.3	)		(3.0	)		(3.0	)
	0.8			2.0			2.9			4.5			7.3		Amortization of deferred acquisition costs, value of business acquired and intangibles		2.1			2.3			1.6			1.3			1.2			1.0			1.2			1.1
	129.6			129.7			138.8			160.1			198.8		Total benefits and expenses		58.5			55.4			43.3			41.6			41.5			41.8			38.8			38.0
$	16.3		$	24.9		$	31.1		$	30.9		$	38.4		Income before income taxes	$	10.3		$	11.1		$	8.1		$	8.9		$	8.0		$	8.7		$	7.6		$	6.6
															Assets under administration:
$	1,803.3		$	2,577.6		$	3,367.1		$	4,221.7		$	16,240.0		Retirement Plans *	$	16,240.0		$	15,586.0		$	4,616.2		$	4,591.3		$	4,221.7		$	4,002.5		$	3,708.3		$	3,517.9
	797.7			914.9			1,085.3			1,143.3			1,234.9		Individual Annuities		1,234.9			1,196.2			1,179.9			1,162.4			1,143.3			1,137.5			1,110.8			1,093.0
	672.9			677.1			747.9			1,141.9			1,407.0		Mortgage loans for other investors		1,407.0			1,360.1			1,274.6			1,196.1			1,141.9			1,032.7			869.3			825.1
	—			—			36.1			35.5			137.5		Other		137.5			70.5			34.4			35.9			35.5			33.6			37.1			36.1
$	3,273.9		$	4,169.6		$	5,236.4		$	6,542.4		$	19,019.4		Total	$	19,019.4		$	18,212.8		$	7,105.1		$	6,985.7		$	6,542.4		$	6,206.3		$	5,725.5		$	5,472.1
															Annualized operating expenses:
															(% of average assets under administration)
	1.5	%		1.3	%		1.0	%		0.9	%		0.6	%	Retirement Plans *		0.5	%		0.5	%		0.9	%		0.8	%		0.8	%		0.9	%		1.0	%		1.0	%
															Interest credited:
															(% of investment income)
	61.4	%		60.6	%		55.5	%		55.0	%		54.5	%	Retirement Plans		55.0	%		53.9	%		55.3	%		53.7	%		55.7	%		55.2	%		54.1	%		54.8	%
	63.0			62.5			61.9			60.9			64.4		Individual Annuities		66.1			64.9			64.2			62.0			62.7			60.5			60.2			60.4
$	109.1		$	139.4		$	184.0		$	119.9		$	214.2		Individual Annuity sales	$	71.3		$	48.7		$	53.3		$	40.9		$	22.1		$	47.2		$	30.6		$	20.0
$	570.8		$	930.6		$	1,170.4		$	996.4		$	942.8		Commercial mortgage loans originated	$	247.0		$	286.7		$	238.2		$	170.9		$	287.7		$	245.4		$	218.5		$	244.8

* Includes the July 2006 acquisition of Invesmart, Inc.

Page 6

STANCORP FINANCIAL GROUP, INC.

Financial Results

(In millions)

OTHER

																2006												2005
2002			2003			2004			2005			2006				4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr
															Revenues:
$	(4.4	)	$	(4.8	)	$	(5.2	)	$	(6.1	)	$	(9.9	)	Administrative fees	$	(2.6	)	$	(2.5	)	$	(2.3	)	$	(2.5	)	$	(1.6	)	$	(1.6	)	$	(1.4	)	$	(1.5	)
	4.5			6.8			8.9			21.6			14.2		Net investment income		2.7			1.5			4.1			5.9			6.6			4.6			4.6			5.8
	(19.7	)		9.3			11.5			2.2			1.9		Net capital gains (losses)		2.8			2.1			(0.3	)		(2.7	)		(0.8	)		3.7			0.5			(1.2	)
	(19.6	)		11.3			15.2			17.7			6.2		Total revenues		2.9			1.1			1.5			0.7			4.2			6.7			3.7			3.1
															Benefits and expenses:
	1.0			0.5			1.3			5.5			(0.1	)	Operating expenses and other		(0.3	)		(0.2	)		0.3			0.1			3.4			0.4			1.0			0.7
	4.7			17.3			17.6			17.6			17.4		Interest expense		4.4			4.3			4.3			4.4			4.5			4.3			4.5			4.3
	5.7			17.8			18.9			23.1			17.3		Total benefits and expenses		4.1			4.1			4.6			4.5			7.9			4.7			5.5			5.0
$	(25.3	)	$	(6.5	)	$	(3.7	)	$	(5.4	)	$	(11.1	)	Income (loss) before income taxes	$	(1.2	)	$	(3.0	)	$	(3.1	)	$	(3.8	)	$	(3.7	)	$	2.0		$	(1.8	)	$	(1.9	)

Page 7

STANCORP FINANCIAL GROUP, INC.

Consolidated Balance Sheets

(In millions)

CONSOLIDATED

												2006											2005
2002		2003		2004		2005		2006				4th Qtr			3rd Qtr		2nd Qtr			1st Qtr			4th Qtr		3rd Qtr		2nd Qtr		1st Qtr
											ASSETS
											Investments:
$	4,134.4	$	4,524.8	$	4,412.5	$	4,613.2	$	4,786.0		Fixed maturity securities (available-for-sale)	$	4,786.0		$	4,770.7	$	4,608.1		$	4,702.9		$	4,613.2	$	4,542.0	$	4,520.2	$	4,406.7
	1,989.1		2,319.8		2,948.2		3,243.7		3,316.0		Commercial mortgage loans, net		3,316.0			3,517.5		3,377.8			3,267.3			3,243.7		3,148.8		3,080.9		3,018.6
	64.6		77.2		72.2		77.7		89.9		Real estate, net		89.9			88.0		84.9			81.9			77.7		78.2		73.1		72.2
	5.3		4.6		4.2		4.0		4.0		Policy loans		4.0			4.2		4.1			4.2			4.0		4.3		4.2		4.2
	6,193.4		6,926.4		7,437.1		7,938.6		8,195.9		Total investments		8,195.9			8,380.4		8,074.9			8,056.3			7,938.6		7,773.3		7,678.4		7,501.7
	206.8		34.5		45.3		53.2		56.0		Cash and cash equivalents		56.0			53.5		156.3			41.2			53.2		89.4		58.1		46.6
	79.6		73.3		77.8		81.5		99.2		Premiums and other receivables		99.2			94.5		77.0			75.6			81.5		81.7		81.1		84.9
	77.1		82.8		82.7		85.6		89.5		Accrued investment income		89.5			94.7		88.9			92.8			85.6		87.4		83.7		88.2
	873.9		871.9		887.9		897.7		913.6		Amounts recoverable from reinsurers		913.6			903.7		903.0			899.0			897.7		891.2		887.2		883.7
	190.9		200.7		218.8		245.3		342.7		Deferred acquisition costs, value of business acquired, intangibles and goodwill, net		342.7			333.1		267.1			257.9			245.3		237.8		229.5		226.4
	74.7		71.3		78.3		86.7		84.6		Property and equipment, net		84.6			82.9		81.6			82.4			86.7		81.9		80.5		80.8
	31.5		35.1		45.5		54.5		24.6		Other assets		24.6			61.6		42.8			55.6			54.5		40.2		38.9		42.2
	1,018.6		1,685.7		2,338.6		3,007.6		3,832.5		Separate account assets		3,832.5			3,464.6		3,315.7			3,334.6			3,007.6		2,829.5		2,582.9		2,438.5
$	8,746.5	$	9,981.7	$	11,212.0	$	12,450.7	$	13,638.6		Total assets	$	13,638.6		$	13,469.0	$	13,007.3		$	12,895.4		$	12,450.7	$	12,112.4	$	11,720.3	$	11,393.0
											LIABILITIES AND EQUITY
											Liabilities:
$	4,114.9	$	4,294.9	$	4,484.6	$	4,689.3	$	4,927.6		Future policy benefits and claims	$	4,927.6		$	4,866.7	$	4,819.1		$	4,744.9		$	4,689.3	$	4,637.8	$	4,581.5	$	4,537.2
	1,864.5		2,100.3		2,400.9		2,649.3		2,937.8		Other policyholder funds		2,937.8			2,853.5		2,785.7			2,725.4			2,649.3		2,607.2		2,534.0		2,466.1
	164.7		153.7		115.1		73.6		22.9		Deferred tax liabilities		22.9			36.2		9.6			36.3			73.6		90.2		129.6		92.3
	0.2		2.7		0.2		2.0		2.4		Short-term debt		2.4			2.0		2.0			1.9			2.0		0.2		0.2		0.2
	259.0		272.0		258.1		260.1		261.1		Long-term debt		261.1			261.7		260.8			260.0			260.1		257.9		258.0		258.0
	172.0		162.9		213.4		355.0		189.8		Other liabilities		189.8			522.0		440.5			407.0			355.0		275.1		184.5		214.9
	1,018.6		1,685.7		2,338.6		3,007.6		3,832.5		Separate account liabilities		3,832.5			3,464.6		3,315.7			3,334.6			3,007.6		2,829.5		2,582.9		2,438.5
	7,593.9		8,672.2		9,810.9		11,036.9		12,174.1		Total liabilities		12,174.1			12,006.7		11,633.4			11,510.1			11,036.9		10,697.9		10,270.7		10,007.2
											Shareholders’ equity:
	665.3		673.4		618.2		530.3		479.9		Common stock		479.9			478.0		518.0			529.6			530.3		532.2		556.7		609.2
	147.4		160.3		136.1		59.8		(8.1	)	Accumulated other comprehensive income (loss)		(8.1	)		24.3		(49.4	)		(6.7	)		59.8		82.7		149.2		86.2
	339.9		475.8		646.8		823.7		992.7		Retained earnings		992.7			960.0		905.3			862.4			823.7		799.6		743.7		690.4
	1,152.6		1,309.5		1,401.1		1,413.8		1,464.5		Total shareholders’ equity		1,464.5			1,462.3		1,373.9			1,385.3			1,413.8		1,414.5		1,449.6		1,385.8
$	8,746.5	$	9,981.7	$	11,212.0	$	12,450.7	$	13,638.6		Total liabilities and shareholders’ equity	$	13,638.6		$	13,469.0	$	13,007.3		$	12,895.4		$	12,450.7	$	12,112.4	$	11,720.3	$	11,393.0

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STANCORP FINANCIAL GROUP, INC.

Invested Assets Statistics

(Dollars in millions)

CONSOLIDATED (except as indicated)

																2006												2005
2002			2003			2004			2005			2006				4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr
															Investments:
$	4,134.4		$	4,524.8		$	4,412.5		$	4,613.2		$	4,786.0		Total fixed maturity securities:	$	4,786.0		$	4,770.7		$	4,608.1		$	4,702.9		$	4,613.2		$	4,542.0		$	4,520.2		$	4,406.7
	3,701.0			4,119.0			4,018.1			4,108.1			4,205.0		Public		4,205.0			4,216.8			4,064.2			4,176.8			4,108.1			4,066.9			4,067.9			3,998.7
	433.4			405.8			394.4			505.1			581.0		Private		581.0			553.9			543.9			526.1			505.1			475.1			452.3			408.0
	1,989.1			2,319.8			2,948.2			3,243.7			3,316.0		Commercial mortgage loans, net		3,316.0			3,517.5			3,377.8			3,267.3			3,243.7			3,148.8			3,080.9			3,018.6
	64.6			77.2			72.2			77.7			89.9		Real estate, net		89.9			88.0			84.9			81.9			77.7			78.2			73.1			72.2
	5.3			4.6			4.2			4.0			4.0		Policy loans		4.0			4.2			4.1			4.2			4.0			4.3			4.2			4.2
$	6,193.4		$	6,926.4		$	7,437.1		$	7,938.6		$	8,195.9		Total investments	$	8,195.9		$	8,380.4		$	8,074.9		$	8,056.3		$	7,938.6		$	7,773.3		$	7,678.4		$	7,501.7
															Percent of investments:
	66.8	%		65.3	%		59.3	%		58.1	%		58.4	%	Fixed maturity securities		58.4	%		56.9	%		57.1	%		58.4	%		58.1	%		58.4	%		58.8	%		58.7	%
	32.1			33.5			39.6			40.8			40.4		Commercial mortgage loans, net		40.4			42.0			41.8			40.5			40.8			40.5			40.1			40.2
	1.0			1.1			1.0			1.0			1.1		Real estate, net		1.1			1.0			1.0			1.0			1.0			1.0			1.0			1.0
	0.1			0.1			0.1			0.1			0.1		Other		0.1			0.1			0.1			0.1			0.1			0.1			0.1			0.1
															Fixed maturity securities (available for sale):
	105.9	%		106.0	%		105.2	%		102.1	%		100.6	%	Market value as a % of amortized cost		100.6	%		100.8	%		98.3	%		99.8	%		102.1	%		103.0	%		105.6	%		103.2	%
															Reserve balances:
$	4.0		$	2.6		$	2.3		$	2.5		$	2.4		Commercial mortgage loans, net	$	2.4		$	3.1		$	3.0		$	2.4		$	2.5		$	3.5		$	3.4		$	2.0

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STANCORP FINANCIAL GROUP, INC.

Other Investment Statistics

(Dollars in millions)

CONSOLIDATED (except as indicated)

																2006												2005
2002			2003			2004			2005			2006				4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr
															Portfolio yield:
	6.22	%		5.94	%		5.81	%		5.61	%		5.57	%	Fixed maturity securities (excluding convertibles)		5.57	%		5.59	%		5.59	%		5.59	%		5.61	%		5.65	%		5.71	%		5.75	%
	7.94			7.28			6.71			6.46			6.31		Commercial mortgage loans, net		6.31			6.41			6.40			6.42			6.46			6.51			6.59			6.64
															Fixed maturity securities:
															Quality rating (as % of fixed maturities):
	75.3	%		75.6	%		74.5	%		74.6	%		74.1	%	A or higher		74.1	%		73.9	%		74.2	%		74.9	%		74.6	%		74.4	%		75.0	%		74.7	%
	21.2			20.9			21.6			21.6			22.3		BBB/Baa		22.3			22.3			21.9			21.5			21.6			21.5			20.6			21.5
	2.1			2.0			2.7			2.7			2.0		BB/Ba		2.0			2.3			2.4			2.4			2.7			3.1			3.3			2.6
	1.4			1.5			1.2			1.1			1.6		B or lower		1.6			1.5			1.5			1.2			1.1			1.0			1.1			1.2
															Commercial mortgage loans - statutory:
															Sixty day delinquencies:
$	—		$	—		$	7.5		$	0.3		$	2.9		Book value	$	2.9		$	—		$	—		$	—		$	0.3		$	1.1		$	1.2		$	—
	—	%		—	%		0.25	%		0.01	%		0.09	%	Rates - overall %		0.09	%		—	%		—	%		—	%		0.01	%		0.04	%		0.04	%		—	%
$	—		$	1.5		$	—		$	1.3		$	1.8		Foreclosed during period	$	—		$	1.8		$	—		$	—		$	1.3		$	—		$	—		$	—
	—			—			7.5			0.3			1.2		In process of foreclosure		1.2			3.7			—			—			0.3			1.1			1.2			—
	—			—			7.5			0.3			1.2		Included in 60 day delinquencies		1.2			—			—			—			0.3			1.1			1.2			—
	4.6			2.9			2.1			10.1			6.8		Net balance of restructured loans		6.8			6.9			9.9			10.0			10.1			7.8			7.8			8.0

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