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Insurance

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Lawsuit ‘pierces corporate veil’ of John Krohn’s investment companies

Spotlight Innovation, a startup pharmaceutical technology investment firm controlled by two Iowa businessmen — along with several other enterprises launched by the partners over the past several years — is part of a “mere sham” …
By JOE GARDYASZ | May 3, 2021
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FBL, Farm Bureau P&C sweeten merger deal to $61 per share

Farm Bureau Property & Casualty Insurance Co. and FBL Financial Group, Inc. today announced that they have agreed to amend their previously announced definitive merger agreement, sweetening the deal for unaffiliated shareholders by another $47 million. The …
By BPC Staff | May 3, 2021
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FBL Financial extends contested merger vote to May 21

Shareholders of FBL Financial Group Inc. will have about another three weeks to consider how to vote on a merger proposal to take the company private.

Shareholders who convened for a special meeting this morning …
By BUSINESS RECORD STAFF | Apr 29, 2021
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Principal records strong first quarter, raises dividend

Principal Financial Group reported a jump in first-quarter net income, to $517.1 million from $288.9 million a year ago. Net income per diluted share was $1.87, compared with $1.04 in last year’s first quarter. Non-GAAP operating earnings …
By BPC Staff | Apr 28, 2021
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FBL Financial receives FINRA approval for proposed merger transaction

FBL Financial Group Inc. announced today that it has received the necessary approvals from the Financial Industry Regulatory Authority for its proposed merger transaction with Farm Bureau Property & Casualty Insurance Co., which if approved by shareholders …
By BPC Staff | Apr 27, 2021
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Wheels begin turning in $2.7B Blue Cross Blue Shield antitrust settlement process

Millions of Blue Cross Blue Shield members across the country, including present and past Wellmark policyholders in Iowa over the past 12 years, may be entitled to a stake in a $2.7 billion antitrust settlement …
By JOE GARDYASZ | Apr 27, 2021
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NOTEBOOK – ONE GOOD READ: In this lawsuit, the right hand is suing the left

An investment journal that I follow just published an interesting story about an ironic twist embodied in a lawsuit involving an annuity company that bases much of its operations in Des Moines. The story by Investment …
By JOE GARDYASZ | Apr 22, 2021
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Stocks up in March; majority of Iowa companies positive

Fourteen of the 18 Iowa-based companies on the Business Record’s Iowa Index posted stock price gains for the month of March. Eight companies posted double-digit percentage gains. Four Iowa-based stocks posted losses, with two being…
By JOHN RETZLAFF | Apr 13, 2021
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Athene releases 2020 corporate social responsibility report

Athene Holding Ltd., the publicly traded parent company of West Des Moines-based retirement services firm Athene USA, recently released its 2020 corporate social responsibility report.  Among highlights of the report, the company documented more than …
By BUSINESS RECORD STAFF | Apr 12, 2021
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Iowa Insurance Division launches online retirement savings education tool

The Iowa Insurance Division has launched Save4Later — a financial wellness and retirement security program that provides tools and resources to help Iowans plan for retirement and save for a financially secure future. “Whether you are 25 …
By BUSINESS RECORD STAFF | Apr 7, 2021