FBL Financial Group has reported a net loss of $60.33m, or $1.96 diluted loss per share, for the fourth quarter of 2011, compared to a net income of $51.63m, or $1.67 diluted earnings share, for the same period 2010.
The total revenues for the fourth quarter of 2011 declined to $149.14m, compared to $164.82m for the same period a year ago.
Operating income was $21.8m, or $0.70 per common share, compared to $21.7m, or $0.70 per common share, for the same period in the previous year.
Net investment income was $86m, compared to $82.3m for the same period in the last year.
FBL Financial Group CEO James Hohmann said that the company closed 2011 with the successful sale of EquiTrust Life, allowing it to reduce the risk of the overall enterprise, increase its financial flexibility and enable capital management.
"As a result, we increased our dividend in the fourth quarter, began to repurchase FBL stock and redeemed $225 million of debt. Going forward, this divestiture allows us to have greater focus on our attractive Farm Bureau niche market," added Hohmann.