Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of life insurance provider FBL Financial Group (NYSE: FFG) jumped as much as 12.2% in a very short-lived, low-volume rally overnight.

So what: Yesterday, FBL Financial announced that Chairman Craig Lang has resigned from the board, replaced by Iowa Farm Bureau Federation President Craig Hill. The double-digit spike was very, very brief, but share prices retreated to a still-respectable 2% gain on an otherwise very gloomy market morning.

Now what: So it's a tale of two Craigs. Hill has been on FBL's board since 2007, but stepped into the FBL sphere of operations way back in 1989 -- yes, the Iowa Farm Bureau Federation is closely tied to FBL Group. Lang lost some board support by pushing unpopular policies as a member of the Iowa Board of Regents in recent years; investors seem happy about the switch.

If you're into FBL for the sake of its modest dividend, this leadership change won't make a difference. You might want to consider more generous payers in the regional life insurance sector, such as Symetra Financial (NYSE: SYA) or Protective Life (NYSE: PL), though.

Interested in more info about FBL Financial Group? Click here to add it to My Watchlist.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.