FBL Financial Group
Encyclopedia
FBL Financial Group, Inc. is a financial services
company that sells life insurance
and annuity products principally under the consumer brand names Farm Bureau Financial Services and EquiTrust Financial Services through the Midwestern and Western United States
with a market niche aimed at farmer
s and ranchers.
The company is permitted to use the logo of the Farm Bureau.
It is based in Des Moines, Iowa
. As of 2006 it has 2,011 exclusive agents through the Farm Bureau channel and 18,849 independent agents through EquiTrust.
in the 1930s when the Iowa
chapter of the Farm Bureau established the Farm Bureau Mutual Insurance Company in 1939 to meet the insurance needs of its farmers.
The Farm Bureau Life Insurance Company (the biggest component) was founded as Iowa Life Insurance Company on October 30, 1944 and opened for business in 1945.
Over the years various Farm Bureaus folded their state insurance companies into the company. It was listed on the New York Stock Exchange in 1996 at a split-adjusted initial public offering price of $8.75.
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
company that sells life insurance
Life insurance
Life insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger...
and annuity products principally under the consumer brand names Farm Bureau Financial Services and EquiTrust Financial Services through the Midwestern and Western United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
with a market niche aimed at farmer
Farmer
A farmer is a person engaged in agriculture, who raises living organisms for food or raw materials, generally including livestock husbandry and growing crops, such as produce and grain...
s and ranchers.
The company is permitted to use the logo of the Farm Bureau.
It is based in Des Moines, Iowa
Des Moines, Iowa
Des Moines is the capital and the most populous city in the US state of Iowa. It is also the county seat of Polk County. A small portion of the city extends into Warren County. It was incorporated on September 22, 1851, as Fort Des Moines which was shortened to "Des Moines" in 1857...
. As of 2006 it has 2,011 exclusive agents through the Farm Bureau channel and 18,849 independent agents through EquiTrust.
History
The company traces its history to the Great DepressionGreat Depression
The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s...
in the 1930s when the Iowa
Iowa
Iowa is a state located in the Midwestern United States, an area often referred to as the "American Heartland". It derives its name from the Ioway people, one of the many American Indian tribes that occupied the state at the time of European exploration. Iowa was a part of the French colony of New...
chapter of the Farm Bureau established the Farm Bureau Mutual Insurance Company in 1939 to meet the insurance needs of its farmers.
The Farm Bureau Life Insurance Company (the biggest component) was founded as Iowa Life Insurance Company on October 30, 1944 and opened for business in 1945.
Over the years various Farm Bureaus folded their state insurance companies into the company. It was listed on the New York Stock Exchange in 1996 at a split-adjusted initial public offering price of $8.75.