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Baltimore insurer to relocate to Des Moines

DES MOINES, Iowa (AP) - A Baltimore, Md.-based life insurance company says it's moving its corporate offices to Des Moines and it plans to employ 50 workers within the next three years.

The Des Moines Register reports Fidelity & Guaranty Life Insurance Co. has a temporary location in downtown Des Moines, a presence that will grow as it makes the headquarters transition.

The company sells annuities and life insurance.

Some workers will remain in Baltimore and the company will keep employees in an office in Lincoln, Neb.

CEO Lee Launer says Iowa is attractive because of its experienced insurance industry workers, the state's regulatory approach, and "strong business climate."

The insurance industry employs about 24,000 people in the Des Moines area. The Iowa Insurance Division says 212 insurance companies are based in Iowa.

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