FBL Financial Group Receives Insurance Regulatory Clearance for Proposed Transaction with Farm Bureau Property & Casualty Insurance Company

WEST DES MOINES, Iowa--(BUSINESS WIRE)--FBL Financial Group, Inc. (NYSE: FFG) (“FBL Financial Group” or “the Company”) today announced that the Iowa Insurance Division (the “Division”) has completed its review of the proposed acquisition by Farm Bureau Property & Casualty Insurance Company (“FBPCIC”) of all of the outstanding shares of FBL Financial Group Class A and Class B common stock, excluding shares owned by FBPCIC and the Iowa Farm Bureau Federation, for $56.00 per share in cash. Based on this review, the Division informed FBPCIC that is not requiring FBPCIC to make a filing on Form A (“Statement Regarding the Acquisition of, Control of, or Merger with a Domestic Insurer”) in connection with the proposed transaction, satisfying the applicable insurance regulatory closing conditions. Receipt of clearance from the Division is an important step in the process to closing the proposed transaction.