FBL Financial Group Inc. on Thursday reported a 24 percent year-over-year increase in fourth-quarter net income, capping a year of record-high net income and operating income for the West Des Moines-based insurer. Net income for the fourth quarter of 2013 was $27 million, or $1.07 per share, compared with $22.6 million, or 86 cents per share, for the fourth quarter of 2012. Among other highlights for 2013, FBL deployed excess capital with the payment of a $2 per share special dividend and the repurchase of 1.4 million shares while maintaining a "very strong capital position," CEO James Brannen said in a release. Net investment income in the fourth quarter totaled $93.6 million, compared with $91.5 million in the fourth quarter of 2012. The increase was due to an increase in average invested assets partially offset by lower investment yields.