FBL Financial Group

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This article is about the insurance and annuities company. For non-profit agricultural organization, see American Farm Bureau Federation.
FBL Financial Group
Type Public
Traded as NYSEFFG
Industry Life insurance, Annuities, Settlement options
Founded 1939 (Farm Bureau Mutual Insurance Company)/1996 (listing on NYSE)
Founders Farm Bureau
Headquarters West Des Moines, Iowa, United States
Number of locations Arizona, Idaho, Iowa, Kansas, Minnesota, Montana, Nebraska, New Mexico, North Dakota, Oklahoma, South Dakota, Utah, Wisconsin, Wyoming
Key people Craig D. Hill (Chairman), James P. Brannen (CEO),
Products Farm Bureau Financial Services, Farm Bureau Property & Casualty Insurance Company
Revenue USD $655.54 Million (2012)
Operating income USD $82.76 Million (2012)
Net income USD $79.86 Million (2012)
Total assets USD $8417.73 Million (2012)
Total equity USD $1,212.25 Million (2012)
Website fblfinancial.com

FBL Financial Group, Inc. is a financial services holding company whose purpose is to protect livelihoods and futures. Its primary operating subsidiary, Farm Bureau Life Insurance Company, underwrites and markets a broad range of life insurance and annuities to individuals and businesses. These products are distributed by multiline exclusive Farm Bureau agents, principally under the consumer brand name Farm Bureau Financial Services. In addition, FBL manages all aspects of two Farm Bureau-affiliated property-casualty insurance companies for a fee. FBL Financial Group is headquartered in West Des Moines, Iowa, and is traded on the New York Stock Exchange under the symbol FFG.

History[edit]

The company traces its history to the Great Depression in the 1930s, when the Iowa chapter of the Farm Bureau established Farm Bureau Mutual Insurance Company in 1939 to meet the insurance needs of its farmers.[1]

Farm Bureau Life Insurance Company was founded as Iowa Life Insurance Company on October 30, 1944, and opened for business in 1945.

Over the years, various state Farm Bureaus merged their insurance company operations into the company. In July 1996, FBL Financial Group was listed on the New York Stock Exchange at a split-adjusted initial public offering price of $8.75.

In 2003, one of FBL's primary operating subsidiaries, EquiTrust Life Insurance Company, began distribution of single premium deferred annuity products nationally through independent marketing organizations. In 2004, EquiTrust began marketing indexed annuity products, and became a significant presence in the independent distribution annuity marketplace. FBL sold EquiTrust Life to a controlled affiliate of Guggenheim Partners in 2011.[2]

States served[edit]

  • Iowa (entered 1939)[3]
  • Nebraska (entered 1951)
  • Minnesota (entered 1954)
  • Utah (through merger 1984)
  • South Dakota (through merger 1987)
  • Wisconsin (through merger 1994)
  • Arizona (through merger with Western Farm Bureau Life, 1994)[4]
  • Idaho (through merger with Western Farm Bureau Life, 1994)
  • Montana (through merger with Western Farm Bureau Life, 1994)
  • New Mexico (through merger with Western Farm Bureau Life, 1994)
  • Oklahoma (through merger with Western Farm Bureau Life, 1994)
  • North Dakota (through merger with Western Farm Bureau Life, 1994)
  • Wyoming (through merger with Western Farm Bureau Life, 1994)
  • Kansas (through merger 2001)

References[edit]