FBL Financial Group’s COO to Retire in March as Company’s Chief Actuary Gets Ready to Take His Position
January 15, 2014 by Marie Suszynski, Best's News Service correspondent
WEST DES MOINES, Iowa – Holding company FBL Financial Group Inc. said John D. Currier, Jr. will be promoted to chief operating officer-life companies when Richard J. Kypta retires on March 1.
Currently, Kypta is director of the Iowa and Wyoming Life and Health Guaranty Associations, a member of the board of trustees of HCI Foundation, and director of the Life Insurers Council, a council of the international trade association LOMA.
Farm Bureau Life Insurance Co. is FBL’s primary operating subsidiary. The company underwriters and markets life insurance and annuities to individuals and businesses. FBL (NYSE: FFG) also manages two property/casualty insurance companies affiliated with Farm Bureau.
Currier, 43, has been with FBL since June 2013 when he was hired as chief actuary. Before joining the company, Currier held actuarial and product management positions at Aviva USA, where he was chief actuary, ING U.S. Financial Services, and Conseco. His career began at the actuarial consulting firm Beckley & Associates.
In December 2011, FBL sold EquiTrust Life Insurance Co. to an investment group led by Guggenheim Partners for $465 million, allowing the company to exit the annuity business sold through the independent agency channel and focus on marketing its life and annuity products, according to BestLink. It is licensed to sell its life insurance and annuity products in 18 states.
In 2012, the company reported $648.21 million in net premiums written and $86.59 million in net income, BestLink said.
Farm Bureau Life Insurance Co. has a current Best’s Financial Strength Rating of A- (Excellent).
Mid-morning Jan. 14, shares of FBL’s stock were trading at $42.58, up 0.5% from the previous close.
