WEST DES MOINES, Iowa (July 20, 2012) — Farm Bureau Life Insurance Company, a company of Farm Bureau Financial Services, has been named to the Ward’s 50® Top Performing Life and Health Insurers list for 2012. Each year, Ward Group analyzes the financial performance of 800 life-health insurance companies domiciled in the United States and identifies the top performers in the industry. This marks the 13th time Farm Bureau Life Insurance Company has appeared on the list.
The companies recognized were evaluated on a series of safety and consistency screens, and required to achieve superior performance from 2007 to 2011. Ward Group reported that as a group, the Ward’s 50 life-health insurance companies produced a 19.0 percent statutory return on average equity from 2007 to 2011, compared to 3.4 percent for the life-health industry overall.
In a release, Jeff Rieder, Partner and Head of Ward Group stated, “Financial returns for insurers declined in 2011 due to many factors, including low interest rates, high unemployment and sluggish economic growth….In selecting the Ward’s 50, we identify companies that pass financial stability requirements and measure their ability to grow while maintaining strong capital positions and underwriting results.”
Through an exclusive, multi-state agent force, the companies affiliated with the Farm Bureau Financial Services brand underwrite, market and distribute a broad range of financial services products, including life insurance, investments, annuities, property-casualty insurance products and services and more, to individuals and small businesses within a marketing territory that includes 14 states.