FBL Financial Group Inc. on Thursday reported net income for the third quarter of $25.1 million, or $1.01 per share, compared with $31 million, or $1.24 per share, for the third quarter of 2018. Earnings per share missed the Zacks Consensus Estimate of $1.24 per share, Yahoo Finance reported. FBL Financial shares have lost about 11% since the beginning of the year versus the S&P 500's gain of 21.5%. "FBL Financial Group's third quarter 2019 earnings results were below our expectations,” CEO James Brannen said in a news release. “This was due to several factors, including our annual actuarial assumption review, higher mortality benefits and lower spread income from the decline in investment yields. We continue to benefit from our balanced book of life and annuity business to provide earnings stability.” The West Des Moines-based financial services holding company’s primary operating subsidiary is Farm Bureau Life Insurance Co.