Farm Bureau (IA)

Farm Bureau Life Insurance Company (NAIC 63312) sits inside a Farm Bureau-affiliated insurance ecosystem that began in the late 1930s. Farm Bureau Financial Services traces its start to 1939, when Iowa Farm Mutual Insurance Company was founded to meet farmers' liability needs; life insurance and wealth-management services were later added as member needs broadened beyond property risks. [2] An Iowa Insurance Division examination report documents the legal-entity evolution of the life company, including an amendment that adopted the name Farm Bureau Life Insurance Company in the late 1950s. [1]

Growth frequently occurred through consolidation and assumption reinsurance. The same Iowa report notes the acquisition of Utah Farm Bureau Life Insurance Company in the late 1980s, later transfers of business from related entities via assumption reinsurance, and a merger of Western Farm Bureau Life operations into Farm Bureau Life in the late 1990s. [1] The report also records a 2001 transaction in which Kansas Farm Bureau Life assets and liabilities were contributed using an assumption reinsurance method. [1]

Reinsurance has been used as a tool for risk and capital management: the Iowa report states the company ceded certain group life business to SCOR under a 100% quota share arrangement (subject to program limits). [1] Public SEC filings from the broader holding company discuss reliance on reinsurance and the risk of reinsurer nonperformance. [3] These structures helped the carrier keep serving its member-based market through changing farm economies, inflation, and interest-rate cycles.

Farm Bureau Life (IA) & (MI)

• Note: These are distinct entities.

1. Farm Bureau Life Insurance Company (Iowa)

• Corporate Owner: Farm Bureau Financial Services (Taken private 2021).
• Address: 5400 University Avenue, West Des Moines, IA 50266.
• History: Founded 1945. For years it traded publicly as FBL Financial Group. In 2021, the Iowa Farm Bureau Federation bought back all outstanding shares to take it private.
• Source: FBFS History

2. Farm Bureau Life Insurance Company of Michigan

• Corporate Owner: Michigan Farm Bureau.
• Address: 7373 W. Saginaw Hwy, Lansing, MI 48917.
• History: Founded 1951. It operates separately from the Iowa group, serving only Michigan residents.
• Source: Farm Bureau MI History

Sources: [1] https://iid.iowa.gov/media/794/download; [2] https://www.fbfs.com/about-us/company-information; [3] https://www.sec.gov/Archives/edgar/data/1012771/000144530510000169/ffg10k.pdf.