Profile: FBL Financial Group Inc (FFG.N)
44.50USD
1 Aug 2013
$0.27 (+0.61%)
$44.23
$44.39
$44.78
$44.30
14,042
15,053
$46.28
$29.14
FBL Financial Group, Inc., incorporated in October 1993, sells individual life and annuity products under the consumer brand name Farm Bureau Financial Services. This brand is represented by the distribution channel of its subsidiary, Farm Bureau Life Insurance Company (Farm Bureau Life). As of December 31, 2011, the Company’s Farm Bureau Life distribution channel consisted of 1,937 exclusive agents and agency managers. The Company operates in two product segments: Annuity and Life Insurance. In December 2011, the Company sold its subsidiary EquiTrust Life Insurance Company.
During the year ended December 31, 2011, the Company reorganized the portfolios of EquiTrust Series Fund, Inc. and EquiTrust Variable Insurance Series Fund into comparable mutual funds managed by Federated Investors, Inc. The Company’s life insurance subsidiary includes Farm Bureau Life. Several other subsidiaries support various functional areas and affiliates by providing investment advisory and marketing and distribution services. In addition, the Company manages all aspects of two Farm Bureau affiliated property-casualty insurance companies (Farm Bureau Property & Casualty Insurance Company and Western Agricultural Insurance Company), which operates in eight states in the Midwest and West. The Company’s life insurance and investment products are available for sale to both members and non-members. As of December 31, 2011, its life insurance and annuity products were marketed throughout its 14-state marketing territory by a Farm Bureau agency force.
Annuity Segment
The Company sells a range of traditional annuity products through its exclusive agency force. The Annuity segment primarily consists of fixed rate annuities and supplementary contracts (some of which include life contingencies). Traditional annuities provide for tax-deferred savings and supplementary contracts provide for the systematic repayment of funds that accumulate interest. It offers annuities that are marketed to individuals in anticipation of retirement. The Company offers traditional annuities in the form of flexible premium deferred annuities (FPDA) that allow policyholders to make contributions over a number of periods. Approximately 35% of the Company’s existing individual traditional annuity business, based on account balances, is held in qualified retirement plans. In addition to FPDAs, it also markets single premium deferred annuities (SPDA) and single premium immediate annuity (SPIA) products, which feature a single premium paid when the contract is issued.
Life Insurance Segment
The Company sells a range of traditional and universal life insurance products through its agency force. The Life Insurance segment consists of whole life, term life and universal life policies. The Company offers traditional participating whole life insurance products. During 2011, participating business accounted for 34% of life receipts from policyholders and represented 12% of life insurance in force, as of December 31, 2011. The Company also markets non-participating term insurance policies that provide life insurance protection for a specified period. Its universal life policies provide permanent life insurance protection with a flexible or fixed premium structure.
Reinsurance
The Company reinsures a portion of its life insurance exposure with unaffiliated insurance companies under traditional indemnity reinsurance agreements. As of December 31, 2011, primary reinsurers included Swiss Re Life & Health America Inc., RGA Reinsurance Company, Generali USA Life Reassurance Company, Employers Reassurance Corporation and Scottish Re.
Company Address
FBL Financial Group Inc
5400 University Avenue
WEST DES MOINES IA 50266-5997
P: +1515.2255400
F: +1515.2266966
Company Web Links
| Name | Compensation |
|---|---|
Craig Hill |
-- |
James Brannen |
2,376,010 |
Jerry Chicoine |
-- |
Donald Seibel |
1,117,810 |
Charles Happel |
1,317,270 |

