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American Equity, FBL Financial make Fortune 100 list

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Two West Des Moines-based financial services firms have earned spots on the annual Fortune 100 list of fastest-growing companies.

 

American Equity Investors Life Holding Co. was ranked No. 78 and FBL Financial Group Inc. was ranked No. 83 on the list of the 100 fastest-growing U.S. companies released yesterday by Fortune. The companies were among 10 financial services firms on the list, and the only two Iowa-based companies to make this year’s rankings.

 

The list was compiled based on revenue and earnings-per-share growth and annualized total return over a three-year period. To qualify, a company must be trading on a major U.S. stock exchange, have a minimum market capitalization of $250 million and a stock price of at least $5 on June 30, 2011, among other criteria.

 

American Equity, one of the largest issuers of indexed annuities in the country, had a three-year average revenue growth of 45 percent and average profit growth of 17 percent.

 

FBL, which markets and distributes life insurance and annuities to individuals and small businesses through its primary operating companies, had three-year average revenue growth of 17 percent and profit growth of 51 percent.

 

Another Midwestern company, Omaha-based Green Plains Renewable Energy Inc., the fourth-largest ethanol producer in North America, was No. 8 on the list. The company, which operates three plants in Iowa, in the past 12 months posted $37 million in net income, $2.9 billion in revenues and saw its ninth consecutive quarter of profitability.

 

To view the complete Fortune 100 list, click here.