<PAGE> PAGE 1
000 A000000 06/30/98
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<PAGE> PAGE 2
010 C02AA01 PA
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
070 M020100 N
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
072 G000200 62
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<PAGE> PAGE 20
074 R040200 2
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008 D010301 PITTSBURGH
008 D020301 PA
008 D030301 15222
008 D040301 3779
015 A000301 STATE STREET BANK AND TRUST COMPANY
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015 E010301 X
015 A000302 BANKERS TRUST CO.
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015 C010302 NEW YORK
015 C020302 NY
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015 A000303 BANK OF NEW YORK
015 B000303 S
015 C010303 NEW YORK
015 C020303 NY
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015 E010303 X
015 A000304 THE CHASE MANHATTAN CORP.
015 B000304 S
015 C010304 NEW YORK
015 C020304 NY
015 C030304 10006
015 E010304 X
015 A000305 MORGAN GUARANTY BANK & TRUST CO.
015 B000305 S
015 C010305 NEW YORK
015 C020305 NY
015 C030305 10015
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<PAGE> PAGE 21
015 A000306 NATIONSBANK OF NORTH CAROLINA
015 B000306 S
015 C010306 CHARLOTTE
015 C020306 NC
015 C030306 28255
015 E010306 X
015 A000307 PNC BANK, NA
015 B000307 S
015 C010307 PITTSBURGH
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015 E010307 X
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028 A020300 255
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045 000300 Y
<PAGE> PAGE 22
046 000300 N
047 000300 Y
048 000300 0.500
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048 B020300 0.000
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048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
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055 A000300 Y
055 B000300 N
056 000300 N
057 000300 N
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062 D000300 32.5
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062 F000300 8.4
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063 B000300 0.0
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<PAGE> PAGE 23
066 A000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 Y
070 B010300 N
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 Y
070 K010300 N
070 K020300 N
070 L010300 N
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 Y
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
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<PAGE> PAGE 24
072 G000300 62
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074 B000300 25400
074 C000300 52798
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<PAGE> PAGE 25
074 R040300 349
074 S000300 0
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008 D030401 15222
008 D040401 3779
015 A000401 STATE STREET BANK AND TRUST COMPANY
015 B000401 C
015 C010401 BOSTON
015 C020401 MA
015 C030401 02266
015 C040401 8600
015 E010401 X
015 A000402 BANKERS TRUST CO.
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015 C010402 NEW YORK
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015 C030402 10015
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015 A000403 BANK OF NEW YORK
015 B000403 S
015 C010403 NEW YORK
015 C020403 NY
015 C030403 10006
015 E010403 X
015 A000404 THE CHASE MANHATTAN CORP.
015 B000404 S
015 C010404 NEW YORK
015 C020404 NY
015 C030404 10006
015 E010404 X
015 A000405 MORGAN GUARANTY BANK & TRUST CO.
015 B000405 S
015 C010405 NEW YORK
015 C020405 NY
015 C030405 10015
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<PAGE> PAGE 26
015 A000406 NATIONSBANK OF NORTH CAROLINA
015 B000406 S
015 C010406 CHARLOTTE
015 C020406 NC
015 C030406 28255
015 E010406 X
015 A000407 PNC BANK, NA
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015 C010407 PITTSBURGH
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045 000400 Y
<PAGE> PAGE 27
046 000400 N
047 000400 Y
048 000400 0.600
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048 I020400 0.000
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048 J020400 0.000
048 K010400 0
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055 A000400 N
055 B000400 N
056 000400 N
057 000400 N
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062 B000400 0.0
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062 D000400 14.9
062 E000400 0.0
062 F000400 0.0
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062 H000400 0.0
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062 J000400 0.0
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063 A000400 0
063 B000400 3.5
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064 B000400 N
<PAGE> PAGE 28
066 A000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 N
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 Y
070 N020400 Y
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 Y
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070 Q020400 N
070 R010400 N
070 R020400 N
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071 C000400 71306
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<PAGE> PAGE 29
072 G000400 62
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<PAGE> PAGE 30
074 R040400 78
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008 D010501 PITTSBURGH
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015 A000501 STATE STREET BANK & TRUST COMPANY
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015 C030501 02266
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015 A000502 PNC BANK, NA
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015 A000503 NATIONSBANK OF NORTH CAROLINA
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015 C010503 CHARLOTTE
015 C020503 NC
015 C030503 28255
015 E010503 X
015 A000504 THE CHASE MANHATTAN CORPORATION
015 B000504 S
015 C010504 NEW YORK
015 C020504 NY
015 C030504 10006
015 E010504 X
015 A000505 MORGAN GUARANTY BANK & TRUST CO.
015 B000505 S
015 C010505 NEW YORK
015 C020505 NY
015 C030505 10015
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<PAGE> PAGE 31
015 A000506 BANKERS TRUST CO.
015 B000506 S
015 C010506 NEW YORK
015 C020506 NY
015 C030506 10015
015 E010506 X
015 A000507 BANK OF NEW YORK
015 B000507 S
015 C010507 NEW YORK
015 C020507 NY
015 C030507 10006
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024 000500 N
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<PAGE> PAGE 32
046 000500 N
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<PAGE> PAGE 33
066 A000500 N
067 000500 N
068 A000500 N
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069 000500 N
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070 E020500 N
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070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 Y
070 K010500 N
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070 L010500 Y
070 L020500 Y
070 M010500 N
070 M020500 N
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070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 Y
070 P020500 Y
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
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071 C000500 169716
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<PAGE> PAGE 34
072 G000500 66
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<PAGE> PAGE 35
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015 A000601 STATE STREET BANK AND TRUST COMPANY
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015 A000604 THE CHASE MANHATTAN CORPORATION
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<PAGE> PAGE 36
015 A000606 BANKERS TRUST CO.
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015 C030606 10015
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015 A000607 BANK OF NEW YORK
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015 C030607 10006
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<PAGE> PAGE 37
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<PAGE> PAGE 38
015 D020625 400-001
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015 D010627 IRELAND
015 E040627 X
015 A000628 BANK HAPOALIM B.M.
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015 C010628 TEL AVIV
015 D010628 ISRAEL
015 E040628 X
015 A000629 BANQUE PARIBAS
015 B000629 S
015 C010629 20121 MILANO
015 D010629 ITALY
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015 D010630 JAPAN
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015 A000631 BANK OF SEOUL
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015 C010631 SEOUL
015 D010631 KOREA
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<PAGE> PAGE 39
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<PAGE> PAGE 40
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<PAGE> PAGE 41
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015 C010660 COLOMBO
015 D010660 SRI LANKA
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<PAGE> PAGE 42
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<PAGE> PAGE 43
062 A000600 N
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066 D000600 N
066 E000600 N
066 F000600 N
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067 000600 N
068 A000600 N
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069 000600 N
070 A010600 Y
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070 C020600 N
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070 D020600 N
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070 E020600 N
070 F010600 Y
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 Y
070 H020600 N
070 I010600 Y
070 I020600 N
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070 J020600 N
<PAGE> PAGE 44
070 K010600 Y
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070 M010600 Y
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070 O020600 N
070 P010600 Y
070 P020600 N
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070 Q020600 N
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070 R020600 N
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071 B000600 48214
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<PAGE> PAGE 45
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<PAGE> PAGE 46
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<PAGE> PAGE 47
025 A000705 MERRILL LYNCH
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<PAGE> PAGE 48
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<PAGE> PAGE 49
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<PAGE> PAGE 50
070 I020700 N
070 J010700 Y
070 J020700 N
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<PAGE> PAGE 51
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<PAGE> PAGE 52
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<PAGE> PAGE 53
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<PAGE> PAGE 54
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<PAGE> PAGE 55
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<PAGE> PAGE 56
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SIGNATURE S. ELLIOTT COHAN
TITLE ASST. GEN. COUNSEL
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000912577
<NAME> FEDERATED INSURANCE SERIES
<SERIES>
<NUMBER> 02
<NAME> FEDERATED UTILITY FUND II
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 110,004,263
<INVESTMENTS-AT-VALUE> 125,776,277
<RECEIVABLES> 1,417,363
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 12,712
<TOTAL-ASSETS> 127,206,352
<PAYABLE-FOR-SECURITIES> 1,680,501
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,470
<TOTAL-LIABILITIES> 1,682,971
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 104,059,031
<SHARES-COMMON-STOCK> 8,929,185
<SHARES-COMMON-PRIOR> 7,311,923
<ACCUMULATED-NII-CURRENT> 1,808,242
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,884,0944
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 15,772,014
<NET-ASSETS> 125,523,381
<DIVIDEND-INCOME> 2,132,627
<INTEREST-INCOME> 187,455
<OTHER-INCOME> 0
<EXPENSES-NET> (511,302)
<NET-INVESTMENT-INCOME> 1,808,780
<REALIZED-GAINS-CURRENT> 3,937,149
<APPREC-INCREASE-CURRENT> (301,421)
<NET-CHANGE-FROM-OPS> 5,444,508
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,023,585)
<DISTRIBUTIONS-OF-GAINS> (6,251,285)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,270,861
<NUMBER-OF-SHARES-REDEEMED> (1,166,636)
<SHARES-REINVESTED> 513,037
<NET-CHANGE-IN-ASSETS> 21,061,222
<ACCUMULATED-NII-PRIOR> 1,023,047
<ACCUMULATED-GAINS-PRIOR> 6,198,230
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 422,026
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 570,597
<AVERAGE-NET-ASSETS> 113,483,384
<PER-SHARE-NAV-BEGIN> 14.29
<PER-SHARE-NII> 0.19
<PER-SHARE-GAIN-APPREC> 0.52
<PER-SHARE-DIVIDEND> (0.13)
<PER-SHARE-DISTRIBUTIONS> (0.81)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.06
<EXPENSE-RATIO> 0.91
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000912577
<NAME> FEDERATED INSURANCE SERIES
<SERIES>
<NUMBER> 7
<NAME> FEDERATED GROWTH STRATEGIES FUND II
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 47,401,028
<INVESTMENTS-AT-VALUE> 60,191,367
<RECEIVABLES> 77,002
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 20,277
<TOTAL-ASSETS> 60,288,646
<PAYABLE-FOR-SECURITIES> 36,168
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 21,288
<TOTAL-LIABILITIES> 57,456
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 47,611,996
<SHARES-COMMON-STOCK> 3,435,892
<SHARES-COMMON-PRIOR> 2,928,503
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (6,264)
<ACCUMULATED-NET-GAINS> (164,881)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 12,790,339
<NET-ASSETS> 60,231,190
<DIVIDEND-INCOME> 129,064
<INTEREST-INCOME> 61,094
<OTHER-INCOME> 0
<EXPENSES-NET> 232,820
<NET-INVESTMENT-INCOME> (42,662)
<REALIZED-GAINS-CURRENT> (57,971)
<APPREC-INCREASE-CURRENT> 7,446,850
<NET-CHANGE-FROM-OPS> 7,346,217
<EQUALIZATION> 36,544
<DISTRIBUTIONS-OF-INCOME> (47,544)
<DISTRIBUTIONS-OF-GAINS> (3,039,173)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 424,040
<NUMBER-OF-SHARES-REDEEMED> (95,280)
<SHARES-REINVESTED> 178,629
<NET-CHANGE-IN-ASSETS> 12,950,834
<ACCUMULATED-NII-PRIOR> 47,398
<ACCUMULATED-GAINS-PRIOR> 2,932,263
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 199,603
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 324,115
<AVERAGE-NET-ASSETS> 53,668,578
<PER-SHARE-NAV-BEGIN> 16.14
<PER-SHARE-NII> (0.01)
<PER-SHARE-GAIN-APPREC> 2.42
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> (1.00)
<RETURNS-OF-CAPITAL> 14.95
<PER-SHARE-NAV-END> 17.53
<EXPENSE-RATIO> 0.87
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000912577
<NAME> FEDERATED INSURANCE SERIES
<SERIES>
<NUMBER> 001
<NAME> FEDERATED AMERICAN LEADERS FUND II
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 322,413,106
<INVESTMENTS-AT-VALUE> 399,054,406
<RECEIVABLES> 1,217,629
<ASSETS-OTHER> 11,619
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 400,283,654
<PAYABLE-FOR-SECURITIES> 4,322,675
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 39,874
<TOTAL-LIABILITIES> 4,362,549
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 295,201,233
<SHARES-COMMON-STOCK> 18,688,393
<SHARES-COMMON-PRIOR> 15,578,504
<ACCUMULATED-NII-CURRENT> 1,745,756
<OVERDISTRIBUTION-NII> 22,332,816
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 22,332,816
<NET-ASSETS> 395,921,105
<DIVIDEND-INCOME> 3,147,998
<INTEREST-INCOME> 132,168
<OTHER-INCOME> 0
<EXPENSES-NET> (1,534,743)
<NET-INVESTMENT-INCOME> 1,745,423
<REALIZED-GAINS-CURRENT> 22,376,759
<APPREC-INCREASE-CURRENT> 23,267,480
<NET-CHANGE-FROM-OPS> 47,389,662
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,591,758)
<DISTRIBUTIONS-OF-GAINS> (20,469,565)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,096,898
<NUMBER-OF-SHARES-REDEEMED> (1,048,636)
<SHARES-REINVESTED> 1,061,627
<NET-CHANGE-IN-ASSETS> 90,125,042
<ACCUMULATED-NII-PRIOR> 1,592,091
<ACCUMULATED-GAINS-PRIOR> 20,425,622
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,310,737
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,564,729
<AVERAGE-NET-ASSETS> 352,433,194
<PER-SHARE-NAV-BEGIN> 19.63
<PER-SHARE-NII> 0.10
<PER-SHARE-GAIN-APPREC> 2.81
<PER-SHARE-DIVIDEND> (0.10)
<PER-SHARE-DISTRIBUTIONS> (1.25)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 21.19
<EXPENSE-RATIO> 0.88
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000912577
<NAME> FEDERATED INSURANCE SERIES
<SERIES>
<NUMBER> 006
<NAME> FEDERATED INTERNATIONAL EQUITY FUND II
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 43,235,092
<INVESTMENTS-AT-VALUE> 53,510,624
<RECEIVABLES> 1,460,093
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 101,059
<TOTAL-ASSETS> 55,071,776
<PAYABLE-FOR-SECURITIES> 1,875,461
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 372,591
<TOTAL-LIABILITIES> 2,248,052
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 38,550,221
<SHARES-COMMON-STOCK> 3,311,290
<SHARES-COMMON-PRIOR> 2,980,850
<ACCUMULATED-NII-CURRENT> 237,470
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,739,620
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 10,296,413
<NET-ASSETS> 52,823,724
<DIVIDEND-INCOME> 470,828
<INTEREST-INCOME> 48,975
<OTHER-INCOME> 0
<EXPENSES-NET> (282,333)
<NET-INVESTMENT-INCOME> 237,470
<REALIZED-GAINS-CURRENT> 3,739,508
<APPREC-INCREASE-CURRENT> 7,127,787
<NET-CHANGE-FROM-OPS> 11,104,765
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (52,079)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 507,183
<NUMBER-OF-SHARES-REDEEMED> (180,241)
<SHARES-REINVESTED> 3,498
<NET-CHANGE-IN-ASSETS> 16,248,767
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 52,191
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 224,869
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 397,731
<AVERAGE-NET-ASSETS> 45,348,698
<PER-SHARE-NAV-BEGIN> 12.27
<PER-SHARE-NII> 0.07
<PER-SHARE-GAIN-APPREC> 3.63
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.02)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.95
<EXPENSE-RATIO> 1.26
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000912577
<NAME> FEDERATED INSURANCE SERIES
<SERIES>
<NUMBER> 004
<NAME> FEDERATED FUND FOR U.S. GOVERNMENT SECURITIES II
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 90,245
<INVESTMENTS-AT-VALUE> 91,380
<RECEIVABLES> 1,629
<ASSETS-OTHER> 1
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 93,010
<PAYABLE-FOR-SECURITIES> 1,883
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 10,849
<TOTAL-LIABILITIES> 12,732
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 76,590
<SHARES-COMMON-STOCK> 7,493
<SHARES-COMMON-PRIOR> 5,970
<ACCUMULATED-NII-CURRENT> 2,075
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 477
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,136
<NET-ASSETS> 80,278
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,326
<OTHER-INCOME> 0
<EXPENSES-NET> (303)
<NET-INVESTMENT-INCOME> 2,023
<REALIZED-GAINS-CURRENT> 477
<APPREC-INCREASE-CURRENT> (130)
<NET-CHANGE-FROM-OPS> 2,370
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,185
<DISTRIBUTIONS-OF-GAINS> 53
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 27,795
<NUMBER-OF-SHARES-REDEEMED> (12,985)
<SHARES-REINVESTED> 1,237
<NET-CHANGE-IN-ASSETS> 17,179
<ACCUMULATED-NII-PRIOR> 1,237
<ACCUMULATED-GAINS-PRIOR> 52
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 347
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 435
<AVERAGE-NET-ASSETS> 72,185
<PER-SHARE-NAV-BEGIN> 10.54
<PER-SHARE-NII> 0.25
<PER-SHARE-GAIN-APPREC> 0.11
<PER-SHARE-DIVIDEND> (0.18)
<PER-SHARE-DISTRIBUTIONS> (0.01)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.71
<EXPENSE-RATIO> 0.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000912577
<NAME> FEDERATED INSURANCE SERIES
<SERIES>
<NUMBER> 003
<NAME> FEDERATED PRIME MONEY FUND II
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-12-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 78197833
<INVESTMENTS-AT-VALUE> 78197833
<RECEIVABLES> 379367
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 38730
<TOTAL-ASSETS> 78615930
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 348757
<TOTAL-LIABILITIES> 348757
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 78267173
<SHARES-COMMON-STOCK> 78267173
<SHARES-COMMON-PRIOR> 59659343
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 78267173
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2057370
<OTHER-INCOME> 0
<EXPENSES-NET> 289774
<NET-INVESTMENT-INCOME> 1767596
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 1767596
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1767596
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 146696237
<NUMBER-OF-SHARES-REDEEMED> 129530670
<SHARES-REINVESTED> 1442263
<NET-CHANGE-IN-ASSETS> 18607830
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 180118
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 317481
<AVERAGE-NET-ASSETS> 72590475
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.020
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> 0.020
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.80
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000912577
<NAME> FEDERATED INSURANCE SERIES
<SERIES>
<NUMBER> 5
<NAME> FEDERATED HIGH INCOME BOND FUND II
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 181,909,278
<INVESTMENTS-AT-VALUE> 185,769,634
<RECEIVABLES> 3,212,084
<ASSETS-OTHER> 22,826
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 189,004,544
<PAYABLE-FOR-SECURITIES> 716,969
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 15,196
<TOTAL-LIABILITIES> 732,165
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 175,438,313
<SHARES-COMMON-STOCK> 17,019,535
<SHARES-COMMON-PRIOR> 14,261,667
<ACCUMULATED-NII-CURRENT> 8,099,304
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 874,406
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,860,356
<NET-ASSETS> 188,272,379
<DIVIDEND-INCOME> 482,633
<INTEREST-INCOME> 7,917,203
<OTHER-INCOME> 0
<EXPENSES-NET> 687,189
<NET-INVESTMENT-INCOME> 7,712,647
<REALIZED-GAINS-CURRENT> 1,387,938
<APPREC-INCREASE-CURRENT> (2,453,644)
<NET-CHANGE-FROM-OPS> 6,646,941
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,656,789)
<DISTRIBUTIONS-OF-GAINS> (1,504,625)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,776,572
<NUMBER-OF-SHARES-REDEEMED> (3,488,350)
<SHARES-REINVESTED> 469,646
<NET-CHANGE-IN-ASSETS> 32,108,751
<ACCUMULATED-NII-PRIOR> 4,043,446
<ACCUMULATED-GAINS-PRIOR> 991,093
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 525,538
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 687,189
<AVERAGE-NET-ASSETS> 175,600,777
<PER-SHARE-NAV-BEGIN> 10.95
<PER-SHARE-NII> 0.45
<PER-SHARE-GAIN-APPREC> (0.01)
<PER-SHARE-DIVIDEND> 0.26
<PER-SHARE-DISTRIBUTIONS> 0.07
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.06
<EXPENSE-RATIO> 0.78
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000912577
<NAME> FEDERATED INSURANCE SERIES
<SERIES>
<NUMBER> 8
<NAME> FEDERATED EQUITY INCOME II
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 44,541,426
<INVESTMENTS-AT-VALUE> 49,052,265
<RECEIVABLES> 485,667
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 43,066
<TOTAL-ASSETS> 49,580,998
<PAYABLE-FOR-SECURITIES> 496,482
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 11,872
<TOTAL-LIABILITIES> 508,354
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 44,049,940
<SHARES-COMMON-STOCK> 3,674,008
<SHARES-COMMON-PRIOR> 2,671,092
<ACCUMULATED-NII-CURRENT> 436,713
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 75,152
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4,510,839
<NET-ASSETS> 49,072,644
<DIVIDEND-INCOME> 516,913
<INTEREST-INCOME> 103,378
<OTHER-INCOME> 0
<EXPENSES-NET> (183,166)
<NET-INVESTMENT-INCOME> 437,125
<REALIZED-GAINS-CURRENT> 149,840
<APPREC-INCREASE-CURRENT> 2,937,100
<NET-CHANGE-FROM-OPS> 3,524,065
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (211,620)
<DISTRIBUTIONS-OF-GAINS> (9,563)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,051,044
<NUMBER-OF-SHARES-REDEEMED> (64,858)
<SHARES-REINVESTED> 16,730
<NET-CHANGE-IN-ASSETS> 16,197,407
<ACCUMULATED-NII-PRIOR> 211,208
<ACCUMULATED-GAINS-PRIOR> (65,125)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 151,153
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 245,339
<AVERAGE-NET-ASSETS> 46,648,424
<PER-SHARE-NAV-BEGIN> 12.31
<PER-SHARE-NII> 0.11
<PER-SHARE-GAIN-APPREC> 1.01
<PER-SHARE-DIVIDEND> 0.07
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.36
<EXPENSE-RATIO> 0.91
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
ITEM 77Q(a)(i)
MATERIAL AMENDMENTS TO THE REGISTRANT'S CHARTER OR BY-LAWS
A Regular Meeting of the Board of Trustees (the "Trustees") of Federated
Insurance Series (the "Trust") was held February 23-26, 1998.
During this meeting, Amendment No. 1 to the By-Laws was adopted by the
Trustees. This amendment, effective February 23, 1998, deleted Sections
1,2 and 3 of Article I, OFFICERS AND THEIR ELECTION, and replaced them
with the following:
"Section 1. Officers. The Officers of the Trust shall be a
President, one or more Vice Presidents, a Treasurer, and a
Secretary. The Board of Trustees, in its discretion, may
also elect or appoint a Chairman of the Board of Trustees
(who must be a Trustee) and other Officers or agents,
including one or more Assistant Vice Presidents, one or more
Assistant Secretaries, and one or more Assistant Treasurers.
A Vice President, the Secretary or the Treasurer may appoint
an Assistant Vice President, an Assistant Secretary or an
Assistant Treasurer, respectively, to serve until the next
election of Officers. Two or more offices may be held by a
single person except the offices of President and Vice
President may not be held by the same person concurrently.
It shall not be necessary for any Trustee or any Officer to
be a holder of shares in any Series or Class of the Trust.
Section 2. Election of Officers. The Officers shall be
elected annually by the Trustees. Each Officer shall hold
office for one year and until the election and qualification
of his successor, or until earlier resignation or removal.
The Chairman of the Board of Trustees, if there is one,
shall be elected annually by and from the Trustees, and
serve until a successor is so elected and qualified, or
until earlier resignation or removal.
Section 3. Resignations and Removals and Vacancies. Any
Officer of the Trust may resign at any time by filing a
written resignation with the Board of Trustees (or Chairman
of the Trustees, if there is one), with the President, or
with the Secretary. Any such resignation shall take effect
at the time specified therein or, if no time is specified,
at the time of receipt. Unless otherwise specified therein,
the acceptance of such resignation shall not be necessary to
make it effective. Any Officer elected by the Board of
Trustees or whose appointment has been ratified by the Board
of Trustees may be removed with or without cause at any time
by a majority vote of all of the Trustees. Any other
employee of the Trust may be removed or dismissed at any
time by the President. Any vacancy in any of the offices,
whether by resignation, removal or otherwise, may be filled
for the unexpired portion of the term by the President. A
vacancy in the office of Assistant Vice President may be
filled by a Vice President; in the office of Assistant
Secretary by the Secretary; or in the office of Assistant
Treasurer by the Treasurer. Any appointment to fill any
vacancy shall serve subject to ratification by the Board of
Trustees at its next regular meeting."
This amendment to the By-Laws is incorporated by reference to the next
Post-Effective Amendment of the Trust. (File Nos. 33-69268 and 811-8042)
ITEM 77Q(a)(ii)
MATERIAL AMENDMENTS TO THE REGISTRANT'S CHARTER OR BY-
LAWS
A Regular Meeting of the Board of Trustees (the "Trustees") of Federated
Insurance Series (the "Trust") was held February 23-26, 1998.
During this meeting, Amendment No. 2 to the By-Laws was adopted by the
Trustees. This amendment, effective February 27, 1998, deleted Section 5
Proxies of Article IV Shareholders' Meetings, and replaced it with the
following:
Section 5. Proxies. Any shareholder entitled to vote at any meeting
of shareholders may vote either in person, by telephone, by
electronic means including facsimile, or by proxy, but no proxy
which is dated more than six months before the meeting named
therein shall be accepted unless otherwise provided in the proxy.
Every proxy shall be in writing, subscribed by the shareholder or
his duly authorized agent or be in such other form as may be
permitted by law, including documents conveyed by electronic
transmission. Every proxy shall be dated, but need not be sealed,
witnessed or acknowledged. The placing of a shareholder's name
on a proxy or authorizing another to act as the shareholder's agent,
pursuant to telephone or electronically transmitted instructions
obtained in accordance with procedures reasonably designed to
verify that such instructions have been authorized by such
shareholder, shall constitute execution of a proxy by or on behalf of
such shareholder. Where Shares are held of record by more than
one person, any co-owner or co-fiduciary may execute the proxy or
give authority to an agent, unless the Secretary of the Trust is
notified in writing by any co-owner or co-fiduciary that the joinder
of more than one is to be required. All proxies shall be filed with
and verified by the Secretary or an Assistant Secretary of the Trust,
or the person acting as Secretary of the Meeting. Unless otherwise
specifically limited by their term, all proxies shall entitle the
holders thereof to vote at any adjournment of such meeting but
shall not be valid after the final adjournment of such meeting.
This amendment to the By-Laws is incorporated by reference to the next Post-
Effective Amendment of the Trust. (File Nos. 33-69268 and 811-8042)
ITEM 77Q(a)(iii)
MATERIAL AMENDMENTS TO THE REGISTRANT'S CHARTER OR BY-LAWS
A Regular Meeting of the Board of Trustees (the "Trustees") of Federated
Insurance Series (the "Trust") was held May 12-14, 1998.
During this meeting, Amendment No. 3 to the By-Laws was adopted by the
Trustees. This amendment, effective May 12, 1998, replaced Sections 3
and 6 of the By-Laws in the following manner:
Strike Section 3 - Place of Meeting of Article IV - Shareholders'
Meetings and replace it with the following:
"Section 3. Place of Meeting. Meetings of the shareholders
of the Trust or a particular Series or Class shall be held
at such place within or without The Commonwealth of
Massachusetts as may be fixed from time to time by
resolution of the Trustees."
Strike Section 6 - Place of Meeting of Article V - Trustees'
Meetings and replace it with the following:
"Section 6. Place of Meeting. Meetings of the Trustees
shall be held at such place within or without The
Commonwealth of Massachusetts as fixed from time to time by
resolution of the Trustees, or as the person or persons
requesting said meeting to be called may designate, but any
meeting may adjourn to any other place."
This amendment to the By-Laws is incorporated by reference to the next
Post-Effective Amendment of the Trust. (File Nos. 33-69268 and 811-8042)
