Fetters Named Chairman of Federated Insurance Companies
Jeffrey E. Fetters was named Chairman of the Federated Insurance Companies at the October 30, 2012, meeting of the Companies’ Board of Directors effective December 1, 2012. Fetters will assume the duties of Chairman in addition to his current responsibilities as President and Chief Executive Officer. He replaces Albert T. Annexstad, who served as Chairman for 12 years before retiring and being named Chairman Emeritus.
Speaking on behalf of the Federated Board of Directors, Jim Lipscomb, of Greenville, Mississippi, remarked, “The Federated Board believes that Jeff’s experience is unique in the insurance industry. We are confident in Federated’s future with Jeff at the top.”
A graduate of Ball State University in Muncie, Indiana, Fetters proved hardworking and ambitious from the get-go. “All I ever wanted to do was be a farmer,” Jeff said. “After college, I began working at a farm equipment dealership. I thought I would buy the business and farm on the side some day. Three years later, that successful dealership failed because the owner passed away without a business succession plan in place.”
His journey to the top of one of the nation’s leading commercial insurance providers began in 1980 when he was recruited by Annexstad and fellow Federated manager Paul Trapp to join their marketing team. “I had firsthand knowledge of Federated’s excellent client service as we had our property and casualty coverage with Federated,” Jeff remembered. “After a series of interviews with outstanding leaders and mentors like Al and Paul, I proudly accepted a marketing representative position in Valparaiso, Indiana.”
Following several years as a highly successful marketing representative, Fetters was promoted to District Marketing Manager in Indianapolis, Indiana, and, later, Regional Marketing Manager in Nashville, Tennessee. He was then called upon to lead Federated’s agency operations in Phoenix, Arizona, as Marketing Manager-Agency Operations before being promoted to Director of Field Operations.
In 2001, following his next opportunity with Federated as Executive Vice President – Insurance Operations, Jeff relocated to Owatonna, Minnesota, with his wife Marty and their two children Ben and Ashley.
His responsibilities steadily expanded during the next decade, as he earned the roles of Chief Operating Officer in 2004, President in 2008, and Chief Executive Officer in 2009. He was also named a Director of the Companies in 2009.
Throughout his 32-year tenure with Federated, Jeff has been a steadfast champion of value marketing and performance management. “I take great pride in the Federated organization,” he said. “We have the finest distribution system and employees in the industry. We are fortunate to work at Federated at a time of great financial stability and opportunity. I look forward to the coming years and the great things we will achieve together.”
Federated is headquartered in Owatonna, Minnesota. “We are so thankful to be in this community,” said Fetters. “It is a great place for Federated and a great place to live, work, and raise a family.” The Company was founded 108 years ago by a group of equipment dealers seeking more value for their insurance premium dollars. Today, Federated is a national organization that serves the property, casualty, health, and life insurance needs of clients in select industries. The Company has more than 400 exclusive recommendations from state, regional, and national trade associations and affinity partners. Federated is rated A+ (Superior) by nationally renown industry analyst A.M. Best Company®.