FBL Financial Group's EquiTrust Subsidiary Raised to A -Excellent- by A.M. Best.Business Editors WEST DES MOINES West Des Moines (də moin`), city (1990 pop. 31,702), Polk co., S central Iowa, a growing suburb W of Des Moines; inc. 1893 as Valley Junction, renamed 1938. Products manufactured there include cement, metal items, and pumps. , Iowa--(BUSINESS WIRE)--May 23, 2002 Rating of A+ (Superior) affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. for FBL FBL Full Bell Lines (coin grading) FBL Fly by Light FBL FIATA Bill of Lading FBL Functional Baseline FBL Foundation for a Better Life FBL Federal Barge Lines, Inc. Financial Group's Farm Bureau Life subsidiary EquiTrust Life Insurance Company, a subsidiary of FBL Financial Group, Inc. (NYSE NYSE See: New York Stock Exchange :FFG FFG Forschungsförderungsgesellschaft (German: Austrian research promotion agency) FFG Flash Flood Guidance FFG Guided Missile Frigate FFG Fall from Grace (band) FFG Fast Frigates FFG Freeware Flight Group ), has had its financial strength rating raised to A (Excellent) by A.M. Best Company. A.M. Best also affirmed the A+ (Superior) financial strength rating of Farm Bureau Life Insurance Company, which is FBL Financial Group's primary operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. . According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. A.M. Best, the A (Excellent) rating for EquiTrust is based on its strategic role within FBL Financial Group, growing premium production from two recent coinsurance A provision of an insurance policy that provides that the insurance company and the insured will apportion between them any loss covered by the policy according to a fixed percentage of the value for which the property, or the person, is insured. agreements and role in expanding the distribution of the overall organization. The A+ (Superior) rating for Farm Bureau Life reflects its strong capital position along with its continued positive earnings performance and role as the leading provider of variable products in the Farm Bureau community. EquiTrust was originally purchased by FBL Financial Group as a shell company in 1997. Currently, EquiTrust coinsures traditional and universal life insurance and equity-indexed and fixed-rate annuities and administers variable business from FBL's eight variable alliance partners. In addition, EquiTrust has a small number of agents in select states that sell products under the EquiTrust brand name. "During the past year, through our EquiTrust subsidiary, we have entered into two significant coinsurance agreements that position us for further growth," said Bill Oddy, Chief Executive Officer. "These ratings reflect that FBL has financially strong companies and will be there for its customers and alliance partners." A.M. Best ratings consider the financial strength of the rated company and are not a rating of the investment worthiness of the rated company. The statements in this release concerning FBL's prospects for the future are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve certain risks and uncertainties, including the continued acceptance of FBL's insurance products by customers, the continued success of FBL's marketing efforts and the marketing success of FBL's alliance partners. These forward-looking statements are based on assumptions which FBL Financial Group believe to be reasonable. No assurance can be given that the assumptions will prove to be correct, and the difference between assumptions and actual results could be material. FBL Financial Group (www.fblfinancial.com) is a holding company whose primary operating subsidiaries are Farm Bureau Life Insurance Company and EquiTrust Life Insurance Company. FBL underwrites, markets and distributes life insurance, annuities and mutual funds to individuals and small businesses. In addition, FBL manages all aspects of two Farm Bureau affiliated property-casualty insurance companies for a management fee and provides certain management and other services to National Travelers Life Company. FBL's three-pronged growth strategy includes (1) internal growth within its traditional Farm Bureau distribution network, (2) alliances and relationships with other companies and (3) consolidations. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion