FBL

FBL Financial Group Shareholders Approve Transaction with Farm Bureau Property & Casualty Insurance Company

Retrieved on: 
Friday, May 21, 2021
Professional services, Insurance, Finance, American Farm Bureau Federation, FBL Financial Group, FFG, FBL, West Des Moines, Iowa, Sampo Group, Geography of Iowa, Service companies, Organizations

b'FBL Financial Group, Inc. (NYSE: FFG) (\xe2\x80\x9cFBL Financial Group\xe2\x80\x9d or \xe2\x80\x9cthe Company\xe2\x80\x9d) today announced that, based on the preliminary voting results from a special meeting of shareholders held today, FBL Financial Group\xe2\x80\x99s shareholders have approved the previously announced transaction under which Farm Bureau Property & Casualty Insurance Company (\xe2\x80\x9cFBPCIC\xe2\x80\x9d) will acquire all of the outstanding shares of FBL Financial Group Class A and Class B common stock, excluding shares owned by FBPCIC and the Iowa Farm Bureau Federation (\xe2\x80\x9cIFBF\xe2\x80\x9d), for $61.00 per share in cash.\n\xe2\x80\x9cThroughout this process, the Special Committee was singularly focused on maximizing value for FBL Financial Group\xe2\x80\x99s unaffiliated shareholders and we welcome their support,\xe2\x80\x9d said Paul Larson, Chairman of the Special Committee.

Key Points: 
  • b'FBL Financial Group, Inc. (NYSE: FFG) (\xe2\x80\x9cFBL Financial Group\xe2\x80\x9d or \xe2\x80\x9cthe Company\xe2\x80\x9d) today announced that, based on the preliminary voting results from a special meeting of shareholders held today, FBL Financial Group\xe2\x80\x99s shareholders have approved the previously announced transaction under which Farm Bureau Property & Casualty Insurance Company (\xe2\x80\x9cFBPCIC\xe2\x80\x9d) will acquire all of the outstanding shares of FBL Financial Group Class A and Class B common stock, excluding shares owned by FBPCIC and the Iowa Farm Bureau Federation (\xe2\x80\x9cIFBF\xe2\x80\x9d), for $61.00 per share in cash.\n\xe2\x80\x9cThroughout this process, the Special Committee was singularly focused on maximizing value for FBL Financial Group\xe2\x80\x99s unaffiliated shareholders and we welcome their support,\xe2\x80\x9d said Paul Larson, Chairman of the Special Committee.
  • Operating under the consumer brand name Farm Bureau Financial Services, its affiliates offer a broad range of life insurance, annuity and investment products distributed by multiline exclusive Farm Bureau agents.
  • In addition, FBL Financial Group manages all aspects of two Farm Bureau affiliated property-casualty insurance companies for a management fee.
  • Headquartered in West Des Moines, Iowa, FBL Financial Group is traded on the New York Stock Exchange under the symbol FFG.

FBL Financial Group Reports First Quarter 2021 Results

Retrieved on: 
Monday, May 3, 2021
Banking, Professional services, Insurance, Finance, American Farm Bureau Federation, FBL Financial Group, FFG, FBL

b'FBL Financial Group, Inc. (NYSE: FFG) today reported net income attributable to FBL Financial Group for the first quarter of 2021 of $27.7 million, or $1.13 per diluted common share, compared to a net loss of $2.5 million, or $0.10 per diluted common share, for the first quarter of 2020.

Key Points: 
  • b'FBL Financial Group, Inc. (NYSE: FFG) today reported net income attributable to FBL Financial Group for the first quarter of 2021 of $27.7 million, or $1.13 per diluted common share, compared to a net loss of $2.5 million, or $0.10 per diluted common share, for the first quarter of 2020.
  • Other expenses in the first quarter of 2021 include $2.6 million of transaction expenses related to FBL Financial Group\'s proposed merger.\nIn the first quarter of 2021, FBL Financial Group recognized net realized gains on investments of $0.2 million.
  • Additional details can be found in the news release.\nFurther information on FBL Financial Group\'s financial results, including results by segment, may be found in FBL Financial Group\'s financial supplement, available on its website, www.fblfinancial.com .\nCertain statements in this release concerning FBL Financial Group\'s prospects for the future are forward-looking statements intended to qualify for the \xe2\x80\x9csafe harbor\xe2\x80\x9d from liability established by the Private Securities Litigation Reform Act.
  • FBL Financial Group undertakes no obligation to update any forward-looking statements.\nFBL Financial Group is a holding company with the purpose to protect livelihoods and futures.

FBL Financial Group Announces Adjournment of Special Meeting of Shareholders to May 21

Retrieved on: 
Thursday, April 29, 2021
Banking, Professional services, Insurance, Finance, Des Moines metropolitan area, Geography of Iowa, Financial markets, Financial economics, American Farm Bureau Federation, FBL Financial Group, FFG, FBL, Proxy statement, West Des Moines, Iowa, Des Moines, Iowa, Proxy

Shareholders who have already voted do not need to recast their votes unless they wish to change their votes.

Key Points: 
  • Shareholders who have already voted do not need to recast their votes unless they wish to change their votes.
  • In addition, FBL Financial Group manages all aspects of two Farm Bureau affiliated property-casualty insurance companies for a management fee.
  • Headquartered in West Des Moines, Iowa, FBL Financial Group is traded on the New York Stock Exchange under the symbol FFG.
  • This press release is not a substitute for the definitive proxy statement or any other document that FBL Financial Group may file with the SEC.

Independent Proxy Advisory Firm Egan-Jones Joins Glass Lewis in Recommending that FBL Financial Group Shareholders Vote “FOR” Proposed Transaction with Farm Bureau Property & Casualty Insurance Company

Retrieved on: 
Tuesday, April 27, 2021
Consulting, Banking, Professional services, Finance, Des Moines metropolitan area, Geography of Iowa, Companies, American Farm Bureau Federation, FBL Financial Group, IOWA, FFG, FBL, West Des Moines, Iowa, Proxy statement, Des Moines, Iowa, ING Group

The consideration of $56.00 per share is a highly compelling offer, providing a significant cash premium as well as certain and immediate value for unaffiliated FBL Financial Group shareholders.

Key Points: 
  • The consideration of $56.00 per share is a highly compelling offer, providing a significant cash premium as well as certain and immediate value for unaffiliated FBL Financial Group shareholders.
  • In addition, FBL Financial Group manages all aspects of two Farm Bureau affiliated property-casualty insurance companies for a management fee.
  • Headquartered in West Des Moines, Iowa, FBL Financial Group is traded on the New York Stock Exchange under the symbol FFG.
  • This communication is not a substitute for the definitive proxy statement or any other document that FBL Financial Group may file with the SEC.

FBL Financial Group Special Committee Sends Letter to Shareholders Regarding Proposed Transaction With Farm Bureau Property & Casualty Insurance Company

Retrieved on: 
Tuesday, April 20, 2021
Finance, Consulting, Banking, Professional services, Insurance, American Farm Bureau Federation, FBL Financial Group, FFG, FBL, West Des Moines, Iowa, Geography of Iowa, IOWA, States of the United States

We believe that the ISS report ignores important facts regarding the Special Committee\xe2\x80\x99s process, FBL Financial Group\xe2\x80\x99s standalone prospects, weaker financial performance relative to industry peers and the compelling valuation offered by the transaction.

Key Points: 
  • We believe that the ISS report ignores important facts regarding the Special Committee\xe2\x80\x99s process, FBL Financial Group\xe2\x80\x99s standalone prospects, weaker financial performance relative to industry peers and the compelling valuation offered by the transaction.
  • We confidently urge shareholders to vote FOR the proposed transaction on the WHITE proxy card today.\nYour Vote is Important!
  • In addition, FBL Financial Group manages all aspects of two Farm Bureau affiliated property-casualty insurance companies for a management fee.
  • Headquartered in West Des Moines, Iowa, FBL Financial Group is traded on the New York Stock Exchange under the symbol FFG.

FBL Financial Group Receives Insurance Regulatory Clearance for Proposed Transaction with Farm Bureau Property & Casualty Insurance Company

Retrieved on: 
Thursday, April 15, 2021
Finance, Public relations, Investor relations, Communications, Professional services, Insurance, American Farm Bureau Federation, Climate change denial, Delaware, Lackawanna and Western Railroad, Saline County, Missouri, United States Department of Agriculture, FBL Financial Group, West Des Moines, Iowa, FFG, Financial services, Insurance, FBL, Geography of Iowa

Receipt of clearance from the Division is an important step in the process to closing the proposed transaction.\nFBL Financial Group has scheduled a Special Meeting of Shareholders to be held on April 29, 2021 to vote on the proposed transaction.

Key Points: 
  • Receipt of clearance from the Division is an important step in the process to closing the proposed transaction.\nFBL Financial Group has scheduled a Special Meeting of Shareholders to be held on April 29, 2021 to vote on the proposed transaction.
  • Operating under the consumer brand name Farm Bureau Financial Services, its affiliates offer a broad range of life insurance, annuity and investment products distributed by multiline exclusive Farm Bureau agents.
  • In addition, FBL Financial Group manages all aspects of two Farm Bureau affiliated property-casualty insurance companies for a management fee.
  • Headquartered in West Des Moines, Iowa, FBL Financial Group is traded on the New York Stock Exchange under the symbol FFG.

FBL Financial Group Files Investor Presentation

Retrieved on: 
Wednesday, April 7, 2021
Professional services, Insurance, Finance, American Farm Bureau Federation, FBL Financial Group, FFG, FBL, United States, Companies

FBL Financial Group, Inc. (NYSE: FFG) (FBL Financial Group or the Company) today filed a presentation regarding the previously announced transaction pursuant to which Farm Bureau Property & Casualty Insurance Company (FBPCIC) will acquire all of the outstanding shares of FBL Financial Group Class A and Class B common stock, excluding shares owned by FBPCIC and the Iowa Farm Bureau Federation, for $56.00 per share in cash.

Key Points: 
  • FBL Financial Group, Inc. (NYSE: FFG) (FBL Financial Group or the Company) today filed a presentation regarding the previously announced transaction pursuant to which Farm Bureau Property & Casualty Insurance Company (FBPCIC) will acquire all of the outstanding shares of FBL Financial Group Class A and Class B common stock, excluding shares owned by FBPCIC and the Iowa Farm Bureau Federation, for $56.00 per share in cash.
  • The presentation was filed with the SEC and can be accessed on the Investor Relations section of FBL Financial Groups website at https://www.fblfinancial.com/investor-relations or directly on the SECs website.
  • In addition, FBL Financial Group manages all aspects of two Farm Bureau affiliated property-casualty insurance companies for a management fee.
  • Additional information about these risks and uncertainties, as well as others that may cause actual results to differ materially from those projected, is contained in FBL Financial Groups filings with the SEC, including FBL Financial Groups Annual Report on Form 10-K and FBL Financial Groups quarterly reports on Form 10-Q.

FBL Financial Group Special Committee Sends Letter to Shareholders

Retrieved on: 
Thursday, April 1, 2021
Banking, Professional services, Insurance, Finance, American Farm Bureau Federation, Climate change denial, Delaware, Lackawanna and Western Railroad, Saline County, Missouri, United States Department of Agriculture, FBL Financial Group, Financial markets, FFG, Finance, FBL, Financial economics, Stock

FBL Financial Group, Inc. (NYSE: FFG) (FBL Financial Group or the Company) today sent a letter to shareholders urging them to vote FOR the previously announced definitive agreement under which Farm Bureau Property & Casualty Insurance Company will acquire all of the outstanding shares of FBL Financial Group Class A and Class B common stock, excluding shares owned by FBPCIC and the Iowa Farm Bureau Federation, for $56.00 per share in cash.

Key Points: 
  • FBL Financial Group, Inc. (NYSE: FFG) (FBL Financial Group or the Company) today sent a letter to shareholders urging them to vote FOR the previously announced definitive agreement under which Farm Bureau Property & Casualty Insurance Company will acquire all of the outstanding shares of FBL Financial Group Class A and Class B common stock, excluding shares owned by FBPCIC and the Iowa Farm Bureau Federation, for $56.00 per share in cash.
  • The full text of the letter from the Special Committee of the Board of Directors of FBL Financial Group is below:
    On April 29, 2021, FBL Financial Group will hold a Special Meeting of Shareholders to vote on the proposed sale of FBL Financial Group to Farm Bureau Property & Casualty Insurance Company (FBPCIC) for $56.00 per share in cash.
  • There is no doubt in our mind that $56.00 per share is a compelling offer for your FBL Financial Group shares.
  • The Special Committee evaluated the offer as compared to FBL Financial Groups standalone prospects based on managements projections for 2021 and beyond.

Capital Returns Management Files Definitive Proxy Statement and Issues Letter to FBL Financial Shareholders

Retrieved on: 
Thursday, March 18, 2021
Articles, Financial markets, Financial economics, Shareholders, American Farm Bureau Federation, FBL Financial Group, FBL, Proxy statement, Stock, Board of directors

The full text of the letter follows:

Key Points: 
  • The full text of the letter follows:
    Dear Fellow FBL Financial Group Shareholders,
    Capital Returns Management, LLC (together with its affiliates, Capital Returns) has been an investor in the insurance industry since 2003 and is one of the largest unaffiliated shareholders of FBL Financial Group, Inc. (FBL or the Company).
  • As described more fully in the enclosed proxy statement, we oppose the transaction because we believe:
    The Transaction Offers No Meaningful Premium to Shareholders.
  • Before FBPCIC first publicly indicated its interest in taking FBL private, FBL stock was trading at $37.25 per share.
  • We urge our fellow shareholders to send a message to the FBL Board of Directors by signing, dating, and returning the GOLD proxy card as soon as possible.

FBL Financial Group Special Committee Sends Letter to Shareholders

Retrieved on: 
Wednesday, March 17, 2021
Banking, Professional services, Insurance, Finance, Academic disciplines, Actuarial science, American Farm Bureau Federation, FBL Financial Group, FBL, Insurance, Annuity, Articles, Finance

The Special Committee includes seasoned, experienced directors with public company board and insurance industry expertise, who have a singular focus on maximizing value for FBL Financial Groups unaffiliated shareholders.

Key Points: 
  • The Special Committee includes seasoned, experienced directors with public company board and insurance industry expertise, who have a singular focus on maximizing value for FBL Financial Groups unaffiliated shareholders.
  • The Special Committee promptly retained independent financial and legal advisors to assist with its review and evaluation of FBCICs proposal on behalf of unaffiliated FBL Financial Group shareholders.
  • The Special Committee also retained Milliman, a leading actuarial consultant, to prepare a detailed, policy-by-policy actuarial appraisal model of FBL Financial Groups life and annuity operations cash flow profile.
  • Capital Returns Management, LLC (CRM), a holder of approximately 0.5% of the Class A common stock of FBL Financial Group, is soliciting votes in opposition to the transaction that the Special Committee recommends.