This increase now places us among the highest dividend yields in the insurance industry. We continue to manage excess capital and in February 2014 announced a significant increase in our quarterly cash dividend to $0.35 per share. We paid a special dividend of $51 million, repurchased 1.4 million shares of FBL common stock, increased our regular quarterly dividend rate by 36% and paid off $50 million of debt. However, late in 2013 we took several actions to modestly increase annuity sales going forward.ĭuring 2013, we were very active in managing our excess capital. Given the low interest rate environment, over the last few years we have purposely decreased our annuity sales. In 2013 we focused on increasing life insurance sales and we achieved that with a 20% increase in life premium collected. We also reached a milestone of more than $100 million in operating income. Net income increased 47% to a record high of $4.21 per share, and operating income increased 31% to $3.90 per share. This commitment to serve is the foundation for all we do.įBL produced excellent financial performance again in 2013. FBL's mission to protect livelihoods and futures comes to life through our agents and employees. These results were achieved because of our commitment to serve our customers and the Farm Bureau member niche. We were able to produce record earnings by growing our business, actively managing spreads, controlling expenses and executing several significant capital management transactions. We delivered strong financial results and achieved new highs in operating income per share and net income per share. The federation turned FBL Financial into public company in 1999, by selling a minority stake in the company to the public through an initial public offering.FBL Financial Group had a fantastic 2013, a year of growth and success. The Historyįarm Bureau P&C and FBL Financial are both controlled by the West Des Moines, Iowa-based Iowa Farm Bureau Federation. The move increases the total deal value by $47 million, to $575 million.Ĭapital Returns Management LLC, a company that had opposed the deal, has accepted the new price and agreed to vote its shares in favor of the purchase. Ronald Bobman, Capital Returns’ president, signed a cooperation and support agreement, according to a proxy statement amendment filed with the SEC. FBL Financial reported higher net income on higher revenue for the first quarter.įarm Bureau Property & Casualty Insurance Company may have moved a step closer to helping a sister company, FBL Financial Group Inc., go private.įarm Bureau P&C announced Monday that it has agreed to increase its offer for outside investors’ shares of FBL Financial stock to $61 each, from $56.Ronald Bobman, Capital Returns' president, has now signed a cooperation and support agreement.Farm Bureau P&C is trying to help FBL Financial go private.

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