Fbl Financial Group (FFG) has reported 13.02 percent fall in profit for the quarter ended Dec. 31, 2016. The company has earned $26.88 million, or $1.07 a share in the quarter, compared with $30.90 million, or $1.23 a share for the same period last year.    

Revenue during the quarter went up marginally by 0.85 percent to $184.18 million from $182.62 million in the previous year period. Net premium earned for the quarter went up marginally by 2.68 percent or $1.29 million to $49.49 million.  

Benefits, losses and expenses for the quarter were at $148.97 million, or 301.02 percent of premium earned from $142.95 million or 296.60 percent of premium earned in the last year period. Operating income for the quarter was $35.21 million, compared with $39.67 million in the previous year period.

Life insurance division has clocked in a premium of $49.49 million on net basis during the quarter, up 2.68 percent or $1.29 million.     

Net investment income was at $101.55 million for the quarter, up 2.57 percent or $2.54 million from year-ago period. Meanwhile, income from fees and commission for the quarter moved up marginally by 2.14 percent or $0.61 million to $28.94 million. The company has recorded a gain on investments of $0.52 million in the quarter compared with a gain of $3.55 million for the previous year period.    

"FBL Financial Group reported solid earnings for the fourth quarter, achieving net income of $1.07 per share and operating income of $1.02 per share," said James P. Brannen, chief executive officer of FBL Financial Group, Inc. "Aside from greater than expected mortality, underlying results continue to be strong. We recorded growth in many metrics for full year 2016 - premiums collected, total agent count, and a total return to shareholders of 30.3 percent. As we move forward in 2017, we embrace both the challenges and opportunities to grow our business while remaining financially disciplined and focused on serving our customers."

Total assets increased 4.75 percent or $434.13 million to $9,566.13 million on Dec. 31, 2016. On the other hand, total liabilities were at $8,377.88 million as on Dec. 31, 2016, up 4.76 percent or $380.35 million from year-ago.

Return on assets stood at 0.29 percent in the quarter, down 0.06 from 0.35 percent in the last year period. At the same time, return on equity was at 2.26 percent in the quarter, down 0.46 from 2.72 percent in the last year period.  

Investments stood at $8,174.66 million as on Dec. 31, 2016, up 5.85 percent or $451.91 million from year-ago. Meanwhile, yield on investments went down 4 basis points to 1.24 percent in the quarter. 

Total debt was at $97 million as on Dec. 31, 2016, down 13.39 percent or $15 million from year-ago. Shareholders equity stood at $1,188.26 million as on Dec. 31, 2016, up 4.74 percent or $53.78 million from year-ago. As a result, debt to equity ratio went down 2 basis points to 0.08 percent in the quarter from 0.10 percent in the last year period.