Federated Insurance Shares Impressive Financial Results and Company Growth during 115th Annual Policyholders Meeting
Federated Mutual Insurance Company held its 115th Annual Meeting of Policyholders on Tuesday, April 16, 2019, at the Company’s home office in Owatonna, Minnesota. Federated Insurance Chairman and CEO Jeff Fetters presided over the meeting, which was open to policyholders and invited guests.
During the CEO’s report, Fetters acknowledged 2018 as the first year for the organization since exiting the small group health insurance marketplace. The result was the strongest marketing year in Federated’s history with new activity and production records set in virtually every measured category. Fetters accredited the Company’s success to the commitment of the Federated employee group. “With 2018, we have recorded the six strongest, consecutive years of financial performance in our 115 years. We stand today in the best fiscal position in our history,” said Fetters. “Most of all, I am proud of our employees, who bring relief, hope, care, and help at our clients’ most trying times.” Year-end results include:
- Record-setting total assets, total invested assets, policyholder surplus, property and casualty premium, property and casualty premium retention, new property and casualty accounts and premium, and total life and disability income premium.
- Consolidated assets reached $8.1 billion.
- Property and casualty premium grew 15.2 percent.
- Federated’s policyholder surplus, which directly reflects the Company’s ability to pay claims, grew to $3.45 billion.
- Federated was rated A+ (Superior) by insurance industry analyst A.M. Best® for the 21st consecutive year.
- Federated donated more than $2.0 million to local charitable causes.
- The Federated Challenge® raised more than $2.8 million for Minnesota’s Big Brothers Big Sisters agencies as well as Big Brothers Big Sisters of America.
Meeting proceedings also included Board of Directors term renewals for the following Directors: Michael N. Keller, Lester H. Killebrew, Darlene M. Miller, and Thomas E. Nobbe.
Former Board Director and Chief Financial Officer, the late Paul F. Drӧher was honored with Federated’s Faithful Service Award. The award recognized the significant contributions Drӧher made to Federated, and the Board, through his nearly 47 years of service. His children Eric Drӧher and Allison Neaton accepted the award.
Federated’s 2018 Chairman’s Career Award recipient was Senior Marketing Representative Ross Glazier of Mantorville, Minnesota. Glazier 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. Glazier’s name will be added to the tribute to all Chairman’s Career Award recipients, which is displayed in Federated’s home office.
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 more than 500 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 17, 2019