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Every day, business owners across the nation trust<br />
Federated Insurance® to protect their futures.<br />
They trust us to provide tailored coverage, charge<br />
equitable premium, promptly resolve claims,<br />
and help them prevent losses. They have faith<br />
in the highly trained, direct client service<br />
professionals they meet with face-to-face and the<br />
knowledgeable, live voices that greet them when<br />
they call for assistance. They count on us to act<br />
with urgency and integrity. They trust us to be<br />
good stewards of their policyholder premiums<br />
and maintain the financial strength necessary<br />
to meet their evolving needs.<br />
Trust doesn’t happen overnight. In our case,<br />
it has been earned by consistently exceeding<br />
expectations and following through on<br />
commitments for more than 121 years. Our<br />
2025 Annual Report features stories of the<br />
dedicated Federated® professionals up<a title="2025 Annual Report page 1" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=1"> </a>
<a title="2025 Annual Report page 2" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=2"> </a>
<a title="2025 Annual Report page 3" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=3"> Every day, business owners across the nation trus</a>
<a title="2025 Annual Report page 4" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=4"> 2 Today, leaders of the plumbing-heating-cooling</a>
<a title="2025 Annual Report page 5" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=5"> Upon Phil’s encouragement, Mike agreed to attend </a>
<a title="2025 Annual Report page 6" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=6"> 4 RANITE CORP Oakland, Maine Granite Corp em</a>
<a title="2025 Annual Report page 7" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=7"> Granite Corp’s exceptional commitment to workplac</a>
<a title="2025 Annual Report page 8" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=8"> 6 The exterior lights that normally illuminate A</a>
<a title="2025 Annual Report page 9" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=9"> “Thirty families depend on what we do here for t</a>
<a title="2025 Annual Report page 10" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=10"> 8 Ed then arranged for a local restoration compa</a>
<a title="2025 Annual Report page 11" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=11"> “Overall, it was remarkable. People didn’t even </a>
<a title="2025 Annual Report page 12" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=12"> 10 “I grew up in Ashby Lumber,” Emily Morgan sha</a>
<a title="2025 Annual Report page 13" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=13"> Few people have a better understanding of the sta</a>
<a title="2025 Annual Report page 14" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=14"> 12 SHBY LUMBER Concord, California The plann</a>
<a title="2025 Annual Report page 15" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=15"> Ashby Lumber is a proud member of the Nat</a>
<a title="2025 Annual Report page 16" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=16"> 14 L Hurricane Ian’s monstrous 150 mile-per-hour</a>
<a title="2025 Annual Report page 17" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=17"> Heartbroken, the Johnsons’ first call was to Fede</a>
<a title="2025 Annual Report page 18" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=18"> 16 When the Johnsons discovered they were subje</a>
<a title="2025 Annual Report page 19" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=19"> Endorsed Member Bene t Life Celebration Center </a>
<a title="2025 Annual Report page 20" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=20"> OUR COMMITMENT TO TOTAL NEEDS RISK MANAGEMENT F</a>
<a title="2025 Annual Report page 21" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=21"> Fueling Safety with Federated DriveSAFE Telematic</a>
<a title="2025 Annual Report page 22" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=22"> The Risk Management Academy Advantage Featuring: </a>
<a title="2025 Annual Report page 23" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=23"> </a>
<a title="2025 Annual Report page 24" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=24"> 50+ YEARS 22 OVER A CENTURY</a>
<a title="2025 Annual Report page 25" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=25"> 40+ YEARS IPM&CSA Idaho Petroleum Marketers & Con</a>
<a title="2025 Annual Report page 26" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=26"> • Above: Federated Insurance National Account E</a>
<a title="2025 Annual Report page 27" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=27"> Supporting Associations’ Success Our role within </a>
<a title="2025 Annual Report page 28" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=28"> OUR COMMITMENT TO A CULTURE OF DIRECT CLIENT SERV</a>
<a title="2025 Annual Report page 29" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=29"> Certificate Center The Certificate Center team en</a>
<a title="2025 Annual Report page 30" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=30"> OUR COMMITMENT TO STRENGTHENING OUR COMPANY CULTU</a>
<a title="2025 Annual Report page 31" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=31"> Career Development We continued to prioritize pro</a>
<a title="2025 Annual Report page 32" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=32"> OUR COMMITMENT TO GIVING BACK Through a combina</a>
<a title="2025 Annual Report page 33" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=33"> Throughout the year, we also supported organizati</a>
<a title="2025 Annual Report page 34" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=34"> Building Stronger, More Resilient Communities In </a>
<a title="2025 Annual Report page 35" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=35"> Unique Benefits Support Employee Volunteerism and</a>
<a title="2025 Annual Report page 36" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=36"> 34 BOARD OF DIRECTORS Steven Clark President and</a>
<a title="2025 Annual Report page 37" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=37"> Leaders LEADERSHIP TEAM Vince Aimutis </a>
<a title="2025 Annual Report page 38" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=38"> OUR COMMITMENT TO FINANCIAL STRENGTH AND STABILIT</a>
<a title="2025 Annual Report page 39" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=39"> Direct Written Premium Property & Casualty, Grani</a>
<a title="2025 Annual Report page 40" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=40"> Loss and LAE Reserves Life Insurance Policy Rese</a>
<a title="2025 Annual Report page 41" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=41"> Consolidated Statements of Income and Surplus Cha</a>
<a title="2025 Annual Report page 42" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=42"> Federated Insurance Mission As a mutual insuranc</a>
<a title="2025 Annual Report page 43" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=43"> </a>
<a title="2025 Annual Report page 44" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=44"> This publication is for general information onl</a>
<a title="2025 Annual Report page 45" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=45"> </a>
<a title="2025 Annual Report page 46" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=46"> </a>
<a title="2025 Annual Report page 47" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=47">Every day, business owners across the nation trust</a>
<a title="2025 Annual Report page 48" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=48"> 2 Today, leaders of the plumbing-heating-cooling</a>
<a title="2025 Annual Report page 49" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=49"> Upon Phil’s encouragement, Mike agreed to attend </a>
<a title="2025 Annual Report page 50" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=50"> 4 RANITE CORP Oakland, Maine Granite Corp em</a>
<a title="2025 Annual Report page 51" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=51"> Granite Corp’s exceptional commitment to workplac</a>
<a title="2025 Annual Report page 52" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=52"> 6 The exterior lights that normally illuminate A</a>
<a title="2025 Annual Report page 53" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=53"> “Thirty families depend on what we do here for t</a>
<a title="2025 Annual Report page 54" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=54"> 8 Ed then arranged for a local restoration compa</a>
<a title="2025 Annual Report page 55" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=55"> “Overall, it was remarkable. People didn’t even </a>
<a title="2025 Annual Report page 56" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=56"> 10 “I grew up in Ashby Lumber,” Emily Morgan sha</a>
<a title="2025 Annual Report page 57" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=57"> Few people have a better understanding of the sta</a>
<a title="2025 Annual Report page 58" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=58"> 12 SHBY LUMBER Concord, California The plann</a>
<a title="2025 Annual Report page 59" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=59"> Ashby Lumber is a proud member of the Nat</a>
<a title="2025 Annual Report page 60" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=60"> 14 L Hurricane Ian’s monstrous 150 mile-per-hour</a>
<a title="2025 Annual Report page 61" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=61"> Heartbroken, the Johnsons’ first call was to Fede</a>
<a title="2025 Annual Report page 62" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=62"> 16 When the Johnsons discovered they were subje</a>
<a title="2025 Annual Report page 63" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=63"> Endorsed Member Bene t Life Celebration Center </a>
<a title="2025 Annual Report page 64" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=64"> OUR COMMITMENT TO TOTAL NEEDS RISK MANAGEMENT F</a>
<a title="2025 Annual Report page 65" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=65"> Fueling Safety with Federated DriveSAFE Telematic</a>
<a title="2025 Annual Report page 66" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=66"> The Risk Management Academy Advantage Featuring: </a>
<a title="2025 Annual Report page 67" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=67"> </a>
<a title="2025 Annual Report page 68" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=68"> 50+ YEARS 22 OVER A CENTURY</a>
<a title="2025 Annual Report page 69" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=69"> 40+ YEARS IPM&CSA Idaho Petroleum Marketers & Con</a>
<a title="2025 Annual Report page 70" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=70"> • Above: Federated Insurance National Account E</a>
<a title="2025 Annual Report page 71" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=71"> Supporting Associations’ Success Our role within </a>
<a title="2025 Annual Report page 72" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=72"> OUR COMMITMENT TO A CULTURE OF DIRECT CLIENT SERV</a>
<a title="2025 Annual Report page 73" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=73"> Certificate Center The Certificate Center team en</a>
<a title="2025 Annual Report page 74" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=74"> OUR COMMITMENT TO STRENGTHENING OUR COMPANY CULTU</a>
<a title="2025 Annual Report page 75" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=75"> Career Development We continued to prioritize pro</a>
<a title="2025 Annual Report page 76" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=76"> OUR COMMITMENT TO GIVING BACK Through a combina</a>
<a title="2025 Annual Report page 77" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=77"> Throughout the year, we also supported organizati</a>
<a title="2025 Annual Report page 78" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=78"> Building Stronger, More Resilient Communities In </a>
<a title="2025 Annual Report page 79" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=79"> Unique Benefits Support Employee Volunteerism and</a>
<a title="2025 Annual Report page 80" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=80"> 34 BOARD OF DIRECTORS Steven Clark President and</a>
<a title="2025 Annual Report page 81" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=81"> Leaders LEADERSHIP TEAM Vince Aimutis </a>
<a title="2025 Annual Report page 82" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=82"> OUR COMMITMENT TO FINANCIAL STRENGTH AND STABILIT</a>
<a title="2025 Annual Report page 83" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=83"> Direct Written Premium Property & Casualty, Grani</a>
<a title="2025 Annual Report page 84" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=84"> Loss and LAE Reserves Life Insurance Policy Rese</a>
<a title="2025 Annual Report page 85" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=85"> Consolidated Statements of Income and Surplus Cha</a>
<a title="2025 Annual Report page 86" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=86"> Federated Insurance Mission As a mutual insuranc</a>
<a title="2025 Annual Report page 87" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=87"> </a>
<a title="2025 Annual Report page 88" href="https://secure.viewer.zmags.com/publication/7b08b26c?page=88"> This publication is for general information onl</a>