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Federated Insurance Shares Impressive Financial Results and Company Growth during 113th Annual Policyholder Meeting

Federated Mutual Insurance Company held its 113th Annual Meeting of Policyholders on Tuesday, April 18, 2017, at the Company’s Home Office in Owatonna, Minnesota. Federated Insurance Chairman, President and CEO Jeff Fetters presided over the meeting, which was open to policyholders and invited guests.

During the CEO’s report, Fetters presented the organization’s record-setting, year-end financial results. Fetters credits the Company’s success to: organic growth, increased efficiencies, sensible expenditures, continued risk management development, thoughtful investment strategies, direct marketing, and strengthened determination among Federated’s workforce. “The success of our clients was at the core of our decisions, programs, activities, and initiatives in 2016. Our employees continue to embrace and perpetuate our mission,” said Fetters. Year-end results include:

  • Record-setting total premium, total assets, total invested assets, policyholder surplus, property and casualty premium, group health premium, and life and disability income premium.
  • Consolidated assets reached $7.1 billion.
  • Property and casualty premium grew 11.3 percent.
  • Federated’s policyholder surplus, which directly reflects the Company’s ability to pay claims, grew to $3.09 billion.
  • For the third consecutive year, Federated posted a combined ratio in the low 90s.
  • Federated Reserve Insurance Company was formed to address the needs of more complex businesses while improving operating results.
  • Federated acquired Granite Re, Inc., one of the country’s top 40 surety companies, expanding our bonding capabilities for our contractor clients.
  • Federated was rated A+ (Superior) by insurance industry analyst A.M. Best® Company for the 32nd year in a row due to management's expertise within targeted niche industries and in providing a variety of services to our policyholders, including extensive loss control, whole account management, tailored insurance products, and the facilitation of estate and business succession planning.
  • Federated donated more than $1.9 million to local charitable causes.
  • The Federated Challenge® raised more than $2.6 million for Minnesota’s Big Brothers Big Sisters® agencies.

Meeting proceedings also included Board of Directors re-elections. Directors David Adcox, James Giesler, Sarah Person and Jeffrey Fetters were re-elected to three-year terms.

Federated’s 2017 Chairman’s Career Award recipient is Senior Marketing Representative Jeff Reed of Orlando, Florida. Reed 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 recorded 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. Reed’s name will be inscribed on a plaque of 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, health, 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® Company.

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

Additional Media Coverage of the Annual Meeting

Owatonna People’s Press - News Article on the Annual Meeting
Owatonna People’s Press - Editorial on Federated’s Continued Success