We are 125 years young.
Experience has taught us not to assume we already know the way forward. We know when to rely on what has worked before, when to challenge convention and when to dig deeper. It’s a perspective that keeps us grounded without standing still.
Federal Life’s A− (Excellent) financial strength rating from AM Best reflects a strong ability to meet our ongoing insurance obligations and provide partners with confidence in our financial stability.
$100M+ surplus provides the financial foundation to support new opportunities, invest in the future, and stand behind the commitments we make.
Our partnership with Bain Capital insurance provides strategic backing and access to capital as Federal Life continues to invest in growth and expand its program business.
Our broad licensing footprint allows us to support partners across much of the U.S., with the regulatory foundation and discipline of an established insurance carrier.
Leadership
Federal Life’s executive leadership team brings deep experience across insurance, underwriting, finance, operations, and distribution. Together, they provide the strategic direction and industry perspective that continue to shape the company’s growth while remaining grounded in the discipline that has defined Federal Life for more than 125 years.
Knut Olson
Chief Executive Officer
- 30+ years in insurance and financial services leadership
- Former executive at Thrivent, Foresters and National Guardian Life
- CLU designation; DBA candidate, University of Liverpool
- Joined Federal Life in 2023 to lead its A&H transformation
John Horbal
Chief Financial Officer
- 20+ years in insurance finance and corporate strategy
- Expertise in capital allocation, reinsurance and M&A
- Enterprise planning focused on long-term value creation
- Supports Federal Life’s financial growth strategy
Dianne Fox
President & COO
- 20+ years in life, annuity and supplemental health insurance
- Deep expertise in enterprise transformation and operations
- Built the infrastructure behind Federal Life’s repositioning
- Leads disciplined execution across the organization
Patrick Stafford
Chief Actuary
- Actuarial leadership at MetLife, Swiss Re, AIG and Corebridge
- Former Chief Finance Actuary and VP Finance at AIG
- Led Global Life & Health Risk Transformation at Swiss Re
- Joined Federal Life in 2024
Anders Raaum, CFA, CLU
SVP, Chief Financial Operations
- 15+ years with Federal Life; former Chief Financial Officer
- MBA, University of Wisconsin-Madison
- CFA and CLU designations
- Leads enterprise financial operations
Jessica Grann
Chief Marketing & Culture Officer
- 25+ years in marketing and communications
- Former Chief Culture & Communications Officer at National Guardian Life
- Expertise in brand communications, digital marketing and culture
- Leads Family 1 as President
Carlos Paiva
Chief Legal Officer, General Counsel & Corporate Secretary
- 20+ years in insurance and financial services
- Former legal executive at Constellation Insurance and AIG
- Expertise in M&A, reinsurance and corporate governance
- Led legal and compliance functions across U.S. and international markets
William Austin, CLU
Board Executive Vice Chairman
- 34+ years with Federal Life Insurance Company
- Led the company’s historic Illinois demutualization
- Expertise across life, annuity and health insurance
- Chartered Life Underwriter (CLU)
Board of Directors
Federal Life’s Board of Directors brings together deep experience across insurance, reinsurance, finance and investment. Their collective perspective provides thoughtful oversight and helps guide the company’s long-term strategy and continued growth.
Tom Marra
Board Chairman
Former Symetra Financial President & CEO
David Herzog
Former American International Group (AIG) CFO
Matt Popoli
Global Head of Insurance,
Bain Capital
Jack Sun
Partner
Bain Capital
Wayne Ebersberger
Former Ernst & Young Partner
Our Story
Incorporated in 1899 and headquartered in the Chicago metropolitan area, Federal Life is proud of its longstanding tradition of financial strength, stability, and as an innovator in the industry. But longevity alone isn’t the story. The company endures because it continues to evolve, adapting to changing markets while preserving the financial discipline and institutional strength built over generations.
Today, that foundation supports a very different Federal Life, one positioned for where the insurance market is going next.
1899 Federal Life is founded
Federal Life is incorporated as a stock company, beginning more than a century of continuous operation in the insurance industry.
1906 Helping create the industry
Federal Life joins six other insurers to form the organization that would become the American Council of Life Insurers.
1976 A history of innovation
Federal Life pioneers a new approach to variable annuities, launching the industry’s first variable annuity to use management funds as an investment option.
2018 A new corporate structure
Federal Life completes its conversion from a mutual to a stock company under the newly created Federal Life Group, Inc., creating greater flexibility for its next chapter.
2023 A new chapter begins
A partnership with Bain Capital, new leadership and independent directors set the stage for Federal Life’s next phase of growth, including expansion into Accident & Health and the program business market.
2024 Financial strength recognized
AM Best assigns Federal Life an A− (Excellent) Financial Strength Rating, providing independent recognition of the company’s financial strength and ability to meet its ongoing insurance obligations.
…Built for what comes next
Federal Life continues to evolve as a program-focused carrier, bringing established insurance capabilities to new opportunities in medical stop-loss, Accident & Health and specialty program business.
More than a century of experience gives us great perspective. We know when to rely on what has worked, when the market calls for something different and how to tell the difference.
FEDERAL LIFE GROUP
More expertise. More ways to solve.
Federal Life Insurance Company is part of Federal Life Group, a family of specialized companies serving distinct segments of the insurance market. Together, the Group brings complementary capabilities across insurance, reinsurance, distribution and preneed, supported by teams throughout the U.S. and Canada, key operations in Nashville and Chicago, affiliated businesses in Texas and Bermuda, and strategic relationships extending from Boston to international markets including Japan.
Serenova Re
A Bermuda-based reinsurer providing tailored reinsurance solutions for insurers around the world.
Family 1
An independent insurance marketing organization connecting individuals, families and businesses with coverage suited to their needs.
Texas Service Life
A dedicated preneed insurance company with decades of experience serving funeral homes and families across Texas, including Spanish-speaking markets.