Stancorp Financial (SFG) 8-K StanCorp Financial Group, Inc. Reports Fourth Quarter and Full Year 2007 Earnings

Exhibit 99.3

StanCorp Financial Group

Fourth Quarter 2007

Earnings Presentation

January 30, 2007

Table of Contents:

Group Insurance Premiums	Pages 3-4
Fixed Maturity Securities	Pages 5-6
Commercial Mortgage Loans	Pages 7-9

Page 2

StanCorp Financial Group

Group Insurance Premiums

by Product ($ millions)

Well positioned for economic pressures

	2007		Percent
Life & AD&D	$	790.4	41	%
Dental		70.6	4
Subtotal		861.0	45
LTD		851.0	44
STD		218.1	11
Subtotal		1,069.1	45
Total	$	1,930.1	100	%

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StanCorp Financial Group

Group Insurance LTD Premiums

by Industry ($ millions)

Well positioned for economic pressures

	2007		Percent
Public	$	187.2	22	%
Education		178.7	21
Health/Social Care		102.2	12
Utilities		8.5	1
Subtotal		476.6	56
Professional		102.1	12
Financial & Insurance		76.6	9
Manufacturing		68.1	8
Retail		17.0	2
Transportation		17.0	2
Services		8.5	1
Construction		8.5	1
Other		76.6	9
Subtotal		374.4	44
Total	$	851.0	100	%

Page 4

StanCorp Financial Group

Fixed Maturity Securities

by Industry ($ millions)

	12/31/2007		Percent
Finance	$	1,491.0	30	%
Consumer Non-Cyclicals		566.2	11
Utilities		489.8	10
Agency		480.2	10
Capital Goods		479.3	9
Consumer Cyclicals		382.6	8
Communications		304.1	6
Energy		262.1	5
Basic Industry		236.4	5
Transportation		154.3	3
Municipals		92.1	2
Other		59.0	1
Total	$	4,997.1	100	%

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StanCorp Financial Group

Fixed Maturity Securities

Quality Rating (as % of Fixed Maturities)

	12/31/2007
A or higher	72.5	%
BBB/Baa	23.4
BB/Ba	2.4		*
B or lower	1.7		*
Total	100.0	%

* Includes $158M outside managed high yield portfolio (3.2% of total fixed maturities securities)

Page 6

StanCorp Financial Group

Commercial Mortgage Loans

by Property Type 12/31/2007 ($ millions)

	# of Loans	Percent		Amount		Percent		LTV
Retail	2,370	48	%	$	1,681.7	46	%	57	%
Office	992	20			722.0	19		58
Industrial	969	20			648.1	18		55
Commercial	335	7			287.3	8		59
Apartment	161	3			100.7	3		59
Hospitality & Other	108	2			217.9	6		63
Total	4,935	100	%	$	3,657.7	100	%	57	%

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StanCorp Financial Group

Commercial Mortgage Loans

by State 12/31/2007 ($ millions)

	Loans	Percent		Amount		Percent
California	1,564	32	%	$	1,095.9	30	%
Texas	480	10			365.5	10
Florida	264	5			190.5	5
Georgia	247	5			183.8	5
New York	194	4			121.9	3
Oregon	216	4			120.6	3
Arizona	151	3			103.6	3
Colorado	112	2			102.4	3
Virginia	102	2			99.1	3
Utah	155	3			95.8	3
Washington	137	3			91.3	2
All Other	1,313	27			1,087.3	30
Total	4,935	100	%	$	3,657.7	100	%

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StanCorp Financial Group

Commercial Mortgage Loans

Origination Year 12/31/2007 ($ millions)

Total Loans								California Loans
		Amount		Percent		LTV *				California Portfolio		% of Total Portfolio		LTV *
<2000		$	125.6	3	%	33	%	<2000		$	47.8	38	%	28	%
2000			47.1	1		44		2000			20.2	43		46
2001			125.3	3		45		2001			51.8	41		41
2002			291.4	8		48		2002			128.1	44		45
2003			523.3	14		52		2003			186.4	36		47
2004			751.2	21		55		2004			209.0	28		53
2005			539.0	15		61		2005			162.2	30		59
2006			543.9	15		65		2006			129.4	24		60
2007			710.9	20		66		2007			161.0	23		64
	Total	$	3,657.7	100	%	57	%		Total	$	1,095.9	30	%	53	%

* Loan-to-value for all years was typically 60% - 75% at origination. Current loan-to-value reflects the effect of annual amortization.

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