FBL Financial Group names Paap to board of directors
Iowa-headquartered FBL Financial Group -- which specializes in marketing and underwriting life insurance and annuities -- has named a new director and announced its quarterly cash dividend.
Effective Nov. 15, Kevin Paap has been appointed Class B director. He has served as president of the Minnesota Farm Bureau Federation since 2005, before which he was a member of its board of directors. He has also served as a member of the board of directors of Farm Bureau Life Insurance Co. since 2006 and Farm Bureau Property & Casualty Insurance Co. since 1997.
The West Des Moines-based company, in a release, announced its quarterly dividend of $0.44 per share to the owners of both Class A and Class B common stock. The dividend will be payable on Dec. 29.
The firm is a holding company with a primary operating subsidiary, Farm Bureau Life Insurance Co. It underwrites and markets life insurance and annuities to individuals and businesses through Farm Bureau agents who work exclusively for the company.
Further, FBL manages two Farm Bureau affiliated property-casualty insurance companies for a management fee.
FBL is traded on the New York Stock Exchange under the symbol FFG.