* Q3 oper income $0.62 per share trails estimate $0.73
* Q3 revenue down 25 pct to $189.5 mln
* Withdraws 2008 operating income outlook
Nov 6 (Reuters) - Insurer FBL Financial Group reported quarterly earnings below market estimates hurt mainly by a derivative loss and said it was withdrawing its fiscal 2008 operating income outlook.
'Due to volatile market conditions and the extraordinary events affecting financial companies, FBL is withdrawing its 2008 operating income guidance,' the company said in a statement.
In the third quarter, FBL reported a derivative loss of $41.0 million that reflected the impact of a decrease in the value of the underlying market indices.
Net investment income for the quarter rose 16 percent to $181.9 million.
The statement added that FBL had lost $16.9 million on securities issued by Lehman Brothers and Washington Mutual during the quarter.
Shares of the company closed down 1.5 percent at $15.55 Thursday on the New York Stock Exchange.
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(Reporting by Santosh Nadgir in Bangalore; Editing by Jarshad Kakkrakandy) Keywords: FBLFINANCIALGROUP/ (santosh.nadgir@thomsonreuters.com; within U.S +1 646 223 8780; Outside U.S +91 080 4135 5800; Reuters messaging: santosh.nadgir.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Q3 revenue down 25 pct to $189.5 mln
* Withdraws 2008 operating income outlook
Nov 6 (Reuters) - Insurer FBL Financial Group reported quarterly earnings below market estimates hurt mainly by a derivative loss and said it was withdrawing its fiscal 2008 operating income outlook.
'Due to volatile market conditions and the extraordinary events affecting financial companies, FBL is withdrawing its 2008 operating income guidance,' the company said in a statement.
In the third quarter, FBL reported a derivative loss of $41.0 million that reflected the impact of a decrease in the value of the underlying market indices.
Net investment income for the quarter rose 16 percent to $181.9 million.
The statement added that FBL had lost $16.9 million on securities issued by Lehman Brothers and Washington Mutual during the quarter.
Shares of the company closed down 1.5 percent at $15.55 Thursday on the New York Stock Exchange.
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(Reporting by Santosh Nadgir in Bangalore; Editing by Jarshad Kakkrakandy) Keywords: FBLFINANCIALGROUP/ (santosh.nadgir@thomsonreuters.com; within U.S +1 646 223 8780; Outside U.S +91 080 4135 5800; Reuters messaging: santosh.nadgir.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.