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FBL Reports Higher 1st Quarter Net Income

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NU Online News Service, May 1, 12:05 p.m. – FBL Financial Group Inc., West Des Moines, Iowa, is reporting $14 million in net income for the first quarter on $134 million in revenue, up from $9.6 million in net income on $114 million in revenue for the first quarter of 2001.

FBL, the parent company of Farm Bureau Life Insurance Company and EquiTrust Life Insurance Company, sells life insurance, annuities and mutual funds. It also manages some Farm Bureau property-casualty insurance operations.

Premiums for interest-sensitive products and traditional life insurance were up, but premiums for accident and health insurance were down due to the September 2001 sale of FBL’s individual disability business, FBL says.