MUNCIE, Ind. - A gift to Ball State University from Standard Management Corporation will fund programs in the university’s new Center for Actuarial Science, Insurance, and Risk Management.

Standard Management Corporation (SMC), a life insurance holding company and a leader in the consolidation of the global financial services industry, pledged $100,000 to the new center.

Only months old, the center combines the actuarial program in the Department of Mathematical Sciences and the insurance program in the Department of Finance. The partnership hopes to better prepare students for careers in the insurance and financial services industry and support increased faculty research.

SMC’s contribution to the center will fund student activities, including professional conference attendance, and faculty research.

"Standard Management and Ball State have a history of a mutually supporting relationship," said Ronald D. Hunter, founder, chairman, chief executive officer and president of SMC since the company’s inception in 1989. "Over the years, we have successfully recruited Ball State graduates, many of whom currently work for the corporation."

Hunter and two of SMC’s highest ranking officers--both Ball State graduates--presented the check to the university. Paul ("Pete") B. Pheffer, class of ’73, is executive vice president and chief financial officer of SMC. Ray Ohlson, executive vice president of SMC and president of the corporation’s 65-year-old flagship company, Standard Life Insurance Company of Indiana, graduated in 1972.

Ohlson said the new center promises to be a leading program in the education of students and assistance to the industry.

"We hope our gift to the center inspires other companies to step forward in support of the university’s innovative programs," he said. "We think Ball State is one of the best kept secrets in the country. We have a lot of people in our company who went to Ball State. For personal and professional reasons, we say let’s get Ball State to the forefront."