A Midwestern insurer says it is implementing its succession plan.

FBL Financial Group Inc., West Des Moines, Iowa, has announced that William Oddy, 62, the company’s chief executive officer, will retire in March 2007.

James Noyce, 51, the chief financial officer, will succeed Oddy as CEO, and James Brannen, 44, the vice president of finance, will succeed Noyce as CFO, according to FBL, the parent of Farm Bureau Life Insurance Company and EquiTrust Life Insurance Company.

Oddy began working for FBL in 1968 and has been its CEO since 2000.

Noyce, the incoming CEO, has worked for FBL since 1985 and held his current CFO post since 1995. He has a bachelor’s degree in actuarial science and accounting from Drake University.

Noyce holds the Fellow of the Casualty Actuarial Society, Certified Public Accountant and Fellow of the Life Management Institute professional designations.

Brannen, the incoming CFO, has a bachelor’s degree in accounting from the University of Iowa.

Brannen has been working for FBL since 1991 and has held the vice president of finance position since 2000.

Brannen holds the CPA professional designation.