FBL Financial Group Authorizes $30 Million Stock Repurchase Plan and Declares Quarterly Dividend

  FBL Financial Group Authorizes $30 Million Stock Repurchase Plan and
  Declares Quarterly Dividend

Business Wire

WEST DES MOINES, Iowa -- November 15, 2012

FBL Financial Group, Inc. (NYSE: FFG) today announced that its Board of
Directors has authorized a plan for FBL to repurchase $30 million of its Class
A common stock. FBL Financial Group’s Board of Directors has also declared a
quarterly cash dividend of $0.10 per share to owners of Class A and Class B
common stock.

Stock Repurchase. The Board of Directors has approved a plan to repurchase up
to $30 million of Class A common stock, which will commence upon the
completion of the current $200 million repurchase plan, which was approved in
October 2011 and has $14.6 million remaining. The repurchase plan authorizes
FBL Financial Group to make repurchases in the open market or through
privately negotiated transactions, with the timing and terms of the purchases
to be determined by management based on market conditions. Completion of the
program is dependent on market conditions and other factors. There is no
guarantee as to the exact timing of any repurchases or the number of shares,
if any, that FBL Financial Group will repurchase. The share repurchase program
may be modified or terminated by FBL Financial Group at any time without prior

Dividend. The quarterly dividend will be payable on December 31, 2012 to
shareholders of record as of December 14, 2012. There are 24,532,543 shares of
Class A common stock and 1,192,890 shares of Class B common stock, for a total
of 25,725,433 common shares outstanding.

FBL Financial Group is a holding company whose purpose is to protect
livelihoods and futures. Its primary operating subsidiary, Farm Bureau Life
Insurance Company, underwrites and markets a broad range of life insurance and
annuities to individuals and businesses, which are distributed by multiline
exclusive Farm Bureau agents. In addition, FBL Financial Group manages all
aspects of two Farm Bureau affiliated property-casualty insurance companies
for a management fee. FBL Financial Group, headquartered in West Des Moines,
Iowa, is traded on the New York Stock Exchange under the symbol FFG. For more
information, please visit www.fblfinancial.com.


FBL Financial Group, Inc.
Kathleen Till Stange, 515-226-6780
Investor Relations Vice President
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