Federated names Mankato office in honor of Fetters

Federated Insurance Chairman Jeff Fetters choked up with emotion as the company’s Mankato building was dedicated in his honor Sept.17.

“I am humbled beyond belief,” said Fetters. “I am just so, so honored by this gesture. I want to thank God… he is always the only one that has directed my path.”

Federated has named its office building at 2000 Technology Dr., in Mankato, the Jeffrey E. Fetters Building. Fetters will retire at the end of the year, bringing to close a 45-year career with the company, the last 12 as chairman.

Besides noting his life being directed by God, Fetters also credited his family, especially his late wife, Marty Fetters, for the success he has achieved over the years.

“I am so grateful to my late wife Marty. I give her a ton of credit. She took it on as her life journey to make the best for our family,” he said, adding he is also particularly proud of his children, Ben Fetters and Ashley Fetters Maloy, who were both in attendance at the dedication.

During a speech, Ben Fetters quoted Proverbs 3:5-6: “Trust in the Lord with all your heart and lean not on your own understanding; in all your ways submit to him, and he will make your paths straight.”

“This verse has guided us through our lives,” Ben said, noting his father has lived a life of integrity, deep faith, and commitment to family. “Dad, you always swung hard at everything and trusted in God’s guidance.”

Ashley Fetters Maloy said that her mother contributed to her dad’s career through prayer and often shared prayers with crowds of people. “She prayed and prayed for days like this,” Fetters Maloy said. “Mom would have been so proud of you.”

Jeff Fetters shared how he is fulfilling a promise Marty requested from him a week before she died three years ago. “She made me promise I would remarry,” Fetters said. “Even near death she was looking out for me.”

Fetters will be remarried on Oct. 5 to Lisa Swenson.

Sarah Person, owner of Exclusively Diamonds in Mankato and a member of Federated’s Board of Directors, said Fetters “inspires, motivates and empowers people.” Person said it’s an amazing honor to have Federated invest in the Mankato area. “This stunning building serves as a gateway to our region.”

Person added, “He has truly redefined what it means to lead a company to success.”

President and CEO Nick Lower shared several accomplishments Fetters has brought to Federated. In seven years under Fetters’ leadership, Federated’s growth doubled from $1 to $2 billion, Lower said. He said it took 112 years to reach $1 billion, and Fetters picked up the next billion within seven years.

“We are now well on our way to $3 billion,” Lower added.

During Fetters’ tenure, Federated achieved 12 consecutive years of double-digit profitable growth, strengthened its commitment to providing value through risk management and remaining an association member benefit, and nearly doubled its number of commercial policyholders.

“His inspiring leadership throughout his career has driven our company to a place of national prominence, with exceptional financial strength and a mission focused to support our clients’ continued success through exceptional specialized value-added services and risk management,” Lower said.

About 250 employees and other guests heard from Lower how Fetters has always shared a soft spot in his heart for Federated employees. Lower said Fetters has great respect for all employees.

Lower pointed to a period when Federated was forced to get out of the health insurance business, which directly impacted about 145 employees.

“He made sure they had opportunities to continue with Federated,” said Lower.

Another major milestone Fetters achieved is with the Federated Challenge, which he and Marty co-chaired for more than a decade. During that time, the Challenge grew into the largest private charity event in Minnesota. In 20 years, the event has raised $57 million for Big Brothers Big Sisters.

“I make him blush a little bit,” Lower said of Fetters. “This is about you Jeff—vision, integrity and purpose. That’s Jeff. He has enriched our Federated culture.”

Lower added, “Jeff has created an extraordinary legacy here at Federated Insurance worthy of celebration and recognition. Every milestone achieved during his tenure as chairman brought forth tremendous benefit for our policyholders, association partners, employees, and communities.”

Fetters ended by appealing to his audience of mostly employees. “The reason clients trust Federated is because of you,” he said. “I want to thank the Federated employees for your passion to always do the right things, and to help our clients to do the best they possibly can.”

And, he added, “Thank you for this amazing honor. This is a remarkably remarkable day, an incredible honor.”