FBL Financial Group Inc., which provides property, casualty and life insurance to 700,000 customers in 15 states, said second-quarter profits doubled, boosted by a rising stock market, and that full-year earnings would be higher than expected.

Net income jumped to $20.5 million, or 72 cents per share, from $10.9 million, or 39 cents, a year ago. Revenues rose 39 percent to $175.8 million from $126.3 million.

FBL is benefiting from the turnaround in the U.S. stock market, which has surged in the past quarter. The gains contributed $2.55 million, or 9 cents per share, to FBL’s profits in the second quarter. During the same time a year ago, the company lost $2.26 million, or 8 cents per share, because of stock market losses.

The company is also seeing more fruit from its coinsurance agreement with American Equity Life Insurance Company. That agreement added $1.7 million, or 6 cents per share, to profits in the second quarter, up from $282,000, or one penny, during the same period a year ago.

Excluding gains from investments, profits would have been $17.9 million, or 63 cents a share, up from $13.3 million, or 47 cents, a year ago. On that basis, Chairman and Chief Eecutive Bill Oddy said he expects the company to have per-share profits of $2.15 to $2.20 for the year, up from his previous per-share expectation of $1.97 to $2.07.

Total assets rose 9.3 percent to $7.4 billion from $6.8 billion.The company’s shares have risen about 11 percent in the past year.