Federated chairman emeritus dies

“From a friendly tap on the shoulder, the course of my life changed forever.”

That’s how Al Annexstad often described the path that led him to a nearly 50-year career with Federated Insurance Companies in Owatonna, working his way from sales representative to CEO and, eventually, chairman of the company.

Annexstad, 82, died Friday, surrounded by his family; he had most recently made his home in Tiger, Ga., with his wife, Cathy. A private family service will be held in South Bend, Ind.

The initial plan for the St. Peter native was to be a teacher and coach, but a chance meeting with a man outside a bank during Annexstad’s senior year of college led him instead to Federated.

He graduated from Minnesota State University Mankato with a degree in social science and business, and would later say he “put my small town values to work in a great company and it turned out very well for the company, its loyal employees and for Cathy and me and our family.”

Annexstad is credited with developing numerous strategies that led Federated from being a modestly successful regional company to a prominent national insurance organization – and is recognized as having a more profound impact on the company than any other executive in its nearly 120-year history.

He retired in 2012, after more than 48 years with Federated, saying “I did my best to surround myself with quality people, employees and clients alike, and I’m very proud of that.”

Annexstad was just 5 when his father died; his mother tried to keep the family’s dairy operation going, but after a year the widow with four children sold the farm and moved into St. Peter.

The family was embraced by the community, Annexstad said – so much so that a prominent St. Peter businessman, Henry Komatz, offered to pay his college tuition.

“I appreciated his offer, but told him I would feel better if I paid my own way,” Annexstad said in 2010, when he was awarded the Horatio Alger Award, one of America’s highest civilian honors.

Instead, he asked Komatz for a job in the summer and fall, which helped him earn enough money to pay for tuition – and made Komatz one of his greatest mentors.

That may have been the impetus for the Annexstads’ advocacy for people “who grew from circumstances out of their control, to help change the trajectory of their lives,” his obituary says.

“Al always remembered his humble beginnings and took every chance to pay forward his success … determined to offer as many ‘taps on the shoulder’ to those who had limited resources or opportunities.”

The Annexstad Family Foundation, founded by Al and Cathy in 2000, has provided college scholarships to nearly 1,300 young people who have overcome challenging circumstances in their young lives – many of them maturing through Big Brothers Big Sisters.

“Education,” he said in 2010, “is the great equalizer. It is the surest path to realizing the opportunities that life has to offer. If you lead your life with unrelenting knowledge, energy and passion for doing what’s right, then life will be good for you and for those whom you care about.”

Annexstad believed the students they helped would one day become leaders, innovators and drivers of social change, his obituary says.

In addition to the Horatio Alger Award, Annexstad has received multiple honors for his contributions to youth mentoring and business.

He’s been inducted into Minnesota’s Business Hall of Fame, served on the executive committee of the Horatio Alger Association of Distinguished Americans and was a member of the Gustavus Adolphus College Board of Trustees.

His mother worked in the cafeteria at Gustavus Adolphus for 40 years.

Annexstad was bestowed honorary doctorate degrees from Gustavus and his alma mater, Minnesota State University Mankato – only the third time the honor has been conferred in the 153-year history of the school. He also received MSU Mankato’s highest honor of achievement, the Distinguished Alumnus Award.

Through it all, his obituary says, as a Minnesota native, “Al felt most at peace near the lake, taking in sunrises and sunsets overlooking the water, and on evening walks with Cathy … and treasured the moments spent with family and friends.”

Annexstad is survived by his wife Cathy; their son Tom (and Karen); their daughter Patti (and Rich); and six grandchildren.

In lieu of flowers, the family requests donations be made to the Annexstad Family Foundation. For more information, visit www.annexstadfamilyfoundation.org/contact-us/sharing-our-mission/.