Federated Insurance® Shares Message of Next Level Risk Management During Annual Policyholders Meeting

Federated Insurance® Shares Message of Next Level Risk Management During Annual Policyholders Meeting - red folder on desk

Federated Mutual Insurance Company hosted its 118th Annual Meeting of Policyholders on Tuesday, April 19, 2022, in Owatonna.

Chairman Jeff Fetters presided over the meeting and reflected on the role the organization plays in preventing injuries and saving lives through its risk management services. “We took our passion for risk management to the next level this past year,” Fetters said. “We worked tirelessly to help the employees of 42,500+ businesses across America make it home safe every day. We also invested heavily in personnel, technology, and new offerings that positioned us to provide unmatched service and value to clients.”

“Federated Insurance was originally founded in 1904 by the Minnesota Implement Dealers Association (MIDA) as a benefit to its members,” Fetters explained. “Our purpose in 1904 was to provide risk management support and insurance protection to safety-minded businesses. Our mission remains the same today and, as a mutual company, we devote our full attention to the best interests of our clients and employees.”

“I am exceptionally proud of our highly talented and dedicated employees,” Fetters continued. “Through challenges and unrest, they kept their eyes fixed on being the best they can be and helping others be safe and successful.”

A commitment to its mission and unmatched service helped Federated Insurance achieve one of the best years in its 118-year history. Highlights include:

  • Record-setting total assets, $10.54 billion; invested assets, $9.5 billion; policyholder surplus, $4.44 billion; total property and casualty and life premium, $2.27 billion; property and casualty net premium, $1.97 billion; and total property and casualty accounts, 42,563.
  • Federated Life® Insurance Company saw $267 million in premium, $2.43 billion in assets, and $550 million in capital and surplus.
  • Federated launched Federated DriveSAFESM, a telematics app solution designed to help improve driving habits among Federated’s clients’ company drivers and create safer roads for all.
  • Federated was rated A+ (Superior) by insurance industry analyst A.M. Best® for the 23rd consecutive year.
  • The 2021 Federated Challenge raised a record-breaking $3.316 million for Big Brothers Big Sisters® three Minnesota agencies and Big Brothers Big Sisters of America®. Since 2005, the Federated Challenge has raised more than $44 million for youth mentoring.
  • Federated employees are the #1 source of mentors for Big Brothers Big Sisters® of Southern Minnesota and Federated was named to the 2021 National Corporate Mentoring Honor Roll.
  • Federated employees raised more than $277,000 — coupled with a $97,000 corporate gift — for the United Way®. Approximately $304,000 will stay locally in Steele County.
  • Employees who participated in Federated’s 2021 employee gift matching program raised $111,000 for more than 200 charitable causes across the nation.                                           

“We believe wholeheartedly in the importance of serving the needs of others for the betterment of our community,” said Fetters. “Federated is growing and prospering, and we’re committed to sharing our success with Owatonna and all the communities where our employees live and work through meaningful charitable donations and corporate citizenship.”

Meeting proceedings included Board of Director three-year term renewals for the following Directors: Michael N. Keller, Darlene M. Miller, and Thomas E. Nobbe. Additionally, Camelia L. Clarke, President of Paradise Memorial Funeral Home in Milwaukee, Wisconsin, was elected to the Board for her first one-year term.

Retiring Director Lester H. Killebrew and his wife Catherine were recognized during the meeting, and presented with a resolution honoring their faithful Board service. “Since 2012, Lester has been a devoted voice for the equipment dealer industry on the Federated Insurance Board of Directors. We are grateful to have benefitted from his experience and passion,” Fetters said. “Lester and Catherine will always be treasured friends and greatly missed.”

Federated’s 2022 Chairman’s Career Award recipient was Senior Marketing Representative Bob Anderson of Lakewood Ranch, Florida. Anderson was recognized during the meeting for his career-long achievements as a marketing representative. The Chairman’s Career Award is the highest recognition a marketing representative can receive. It is presented to individuals who have outstanding marketing careers of superior policyholder service for 25 years or more, sustained high performance levels, and gained the trust of their clients and colleagues. Anderson’s name will be added to the tribute to all Chairman’s Career Award recipients, which is displayed in Federated’s home office.
 


About Federated Insurance

Founded in 1904, Federated Insurance is a national insurance and risk management organization that serves the property, casualty, and life insurance needs of clients in select industries. The organization has 523 recommendations from state, regional, and national associations and buying groups and is rated A+ (Superior) by industry analyst A.M. Best.

At Federated Insurance, It’s Our Business to Protect Yours.®
 

Published Date:April 20, 2022

Categories: News