<br />
2023<br />
ANNUAL REPORT<br />
Seeking Input | Providing Guidance | Delivering Value<br />
It’s Our Business to Protect Yours®<br />
Federated’s mission to protect businesses and enhance client success took root upon<br />
our founding as an association member benefit at the turn of the 20th century. At that<br />
time, the business leaders who belonged to the association continuously shared insights<br />
into their insurance needs and the hazards unique to their industries with us. A century<br />
later, we are still listening to our clients and association partners — and their guidance<br />
and experience informs our decisions, shapes our coverage and service offerings, and<br />
reaffirms our value every day. It is also crucial for our clients to participate in assessing,<br />
managing, and mitigating risks to ensure their businesses are safe.<br />
This year’s Annual Report features three clients who participated in one of the many<br />
collaborative forums<a title="2023 Annual Report External page 1" href="https://secure.viewer.zmags.com/publication/09e20a62?page=1"> 2023 ANNUAL REPORT Seeking Input | Providing Gui</a>
<a title="2023 Annual Report External page 2" href="https://secure.viewer.zmags.com/publication/09e20a62?page=2"> Federated’s mission to protect businesses and enh</a>
<a title="2023 Annual Report External page 3" href="https://secure.viewer.zmags.com/publication/09e20a62?page=3"> S E E K I N G I N P U T. P R O V I D I N G G U I </a>
<a title="2023 Annual Report External page 4" href="https://secure.viewer.zmags.com/publication/09e20a62?page=4"> 2</a>
<a title="2023 Annual Report External page 5" href="https://secure.viewer.zmags.com/publication/09e20a62?page=5"> SAFETY-DRIVEN SUCCESS DOES NOT HAPPEN OVERNIGHT </a>
<a title="2023 Annual Report External page 6" href="https://secure.viewer.zmags.com/publication/09e20a62?page=6"> When implementing DriveSAFE telematics, the Head </a>
<a title="2023 Annual Report External page 7" href="https://secure.viewer.zmags.com/publication/09e20a62?page=7"> “Going to a Risk Management Academy (RMA) he</a>
<a title="2023 Annual Report External page 8" href="https://secure.viewer.zmags.com/publication/09e20a62?page=8"> 6</a>
<a title="2023 Annual Report External page 9" href="https://secure.viewer.zmags.com/publication/09e20a62?page=9"> NEXT GENERATION PLANNING CAN START WITH THE BASIC</a>
<a title="2023 Annual Report External page 10" href="https://secure.viewer.zmags.com/publication/09e20a62?page=10"> This experience was so impactful for Tim that he </a>
<a title="2023 Annual Report External page 11" href="https://secure.viewer.zmags.com/publication/09e20a62?page=11"> Electric Plus employees hard at work on the prefa</a>
<a title="2023 Annual Report External page 12" href="https://secure.viewer.zmags.com/publication/09e20a62?page=12"> 10</a>
<a title="2023 Annual Report External page 13" href="https://secure.viewer.zmags.com/publication/09e20a62?page=13"> RISK MANAGEMENT AND TAILORED COVERAGE FOR THE MAN</a>
<a title="2023 Annual Report External page 14" href="https://secure.viewer.zmags.com/publication/09e20a62?page=14"> “Federated asked for very frank input from all of</a>
<a title="2023 Annual Report External page 15" href="https://secure.viewer.zmags.com/publication/09e20a62?page=15"> “It was important that we engaged with client</a>
<a title="2023 Annual Report External page 16" href="https://secure.viewer.zmags.com/publication/09e20a62?page=16"> 14 Federated DriveSAFESM Telematics Provides Tan</a>
<a title="2023 Annual Report External page 17" href="https://secure.viewer.zmags.com/publication/09e20a62?page=17"> Client Commitment Toward mySHIELD® Training & Res</a>
<a title="2023 Annual Report External page 18" href="https://secure.viewer.zmags.com/publication/09e20a62?page=18"> Learn, Connect, and Apply with Federated Insuranc</a>
<a title="2023 Annual Report External page 19" href="https://secure.viewer.zmags.com/publication/09e20a62?page=19"> Our Risk Consultants Deliver Direct Value-Added R</a>
<a title="2023 Annual Report External page 20" href="https://secure.viewer.zmags.com/publication/09e20a62?page=20"> 18 50+ YEARS 40+ YEARS </a>
<a title="2023 Annual Report External page 21" href="https://secure.viewer.zmags.com/publication/09e20a62?page=21"> Fulfilling Our Founding Purpose as an Association</a>
<a title="2023 Annual Report External page 22" href="https://secure.viewer.zmags.com/publication/09e20a62?page=22"> 20 </a>
<a title="2023 Annual Report External page 23" href="https://secure.viewer.zmags.com/publication/09e20a62?page=23"> “Every meeting that I have with a Federated Insur</a>
<a title="2023 Annual Report External page 24" href="https://secure.viewer.zmags.com/publication/09e20a62?page=24"> 22 FINANCIAL STRENGTH Loss and LAE Reserves Li</a>
<a title="2023 Annual Report External page 25" href="https://secure.viewer.zmags.com/publication/09e20a62?page=25"> CONSOLIDATED STATEMENTS OF INCOME AND SURPLUS CHA</a>
<a title="2023 Annual Report External page 26" href="https://secure.viewer.zmags.com/publication/09e20a62?page=26"> Total Assets $12.2 billion T</a>
<a title="2023 Annual Report External page 27" href="https://secure.viewer.zmags.com/publication/09e20a62?page=27"> $2.85 $2.27 Direct Written Premium </a>
<a title="2023 Annual Report External page 28" href="https://secure.viewer.zmags.com/publication/09e20a62?page=28"> COMPANY CULTURE: ROOTED IN INSIGHT AND INPUT As </a>
<a title="2023 Annual Report External page 29" href="https://secure.viewer.zmags.com/publication/09e20a62?page=29"> Members of the Diversity & Inclusion Team. Dive</a>
<a title="2023 Annual Report External page 30" href="https://secure.viewer.zmags.com/publication/09e20a62?page=30"> 28 Federated proudly supports Wallin Education P</a>
<a title="2023 Annual Report External page 31" href="https://secure.viewer.zmags.com/publication/09e20a62?page=31"> Our employees are the heart of our company. We ar</a>
<a title="2023 Annual Report External page 32" href="https://secure.viewer.zmags.com/publication/09e20a62?page=32"> 30 Federated Challenge® In 2023, the Federated </a>
<a title="2023 Annual Report External page 33" href="https://secure.viewer.zmags.com/publication/09e20a62?page=33"> An Investment in the Next Generation We believe</a>
<a title="2023 Annual Report External page 34" href="https://secure.viewer.zmags.com/publication/09e20a62?page=34"> 32 United Way®: Engaging Communities, Connecting</a>
<a title="2023 Annual Report External page 35" href="https://secure.viewer.zmags.com/publication/09e20a62?page=35"> TIS’ THE SEASON FOR COMMUNITY GIVING Federated em</a>
<a title="2023 Annual Report External page 36" href="https://secure.viewer.zmags.com/publication/09e20a62?page=36"> Doubling Impact Through Gift-Matching Federated’s</a>
<a title="2023 Annual Report External page 37" href="https://secure.viewer.zmags.com/publication/09e20a62?page=37"> Giving from the Heart: National Volunteer Month a</a>
<a title="2023 Annual Report External page 38" href="https://secure.viewer.zmags.com/publication/09e20a62?page=38"> BOARD OF DIRECTORS 36 Camelia L. Cl</a>
<a title="2023 Annual Report External page 39" href="https://secure.viewer.zmags.com/publication/09e20a62?page=39"> LEADERSHIP TEAM Vince Aimutis An</a>
<a title="2023 Annual Report External page 40" href="https://secure.viewer.zmags.com/publication/09e20a62?page=40"> It’s Our Business to Protect Yours® </a>