A Century of Excellence
Columbus Life...How It All Began
The Columbus Life Insurance Company, formerly known as Columbus Mutual, has a rich historic past. The founder and first president, Channing Webster Brandon, sold insurance for 26 years before establishing the Company and firmly believed in the value of his life insurance product as "something every man should have." Affectionately known as "Pop," Brandon formed the Company as a protest against certain inequities he had observed in the treatment of both policyholders and agents. Through Columbus Mutual, he hoped to set an example for the entire industry by molding the fledgling company around principals in which he believed, "the best insurance for the least money," and a "square deal to the agent."
Pop began selling stock in the Company as early as 1903, and, although partially crippled, traveled Ohio for three years prior to the actual incorporation of Columbus Mutual in 1906. One of the greatest obstacles he faced was that, before a charter could be granted, the State of Ohio demanded that $100,000 in "idle money" be procured. Upon payment of this amount, the operating capital with which President Brandon was left was a meager $49.60.
Brandon originally intended to incorporate as a mutual company, but because that type of charter was not provided for in Ohio law he established a stock company instead, keeping as close to the mutual philosophy as possible. All surplus funds were to be owned by policyholders on the mutual plan and stockholder dividends were forever limited to 10 percent of the original $100 value of each share of stock.
Shortly after the Company was founded, a nationwide economic depression occurred, the stock market collapsed and banks and businesses closed their doors all across the nation. The panic also halted operations at Columbus Mutual until 1908, when the nation began to recover, the first policy, a $5,000 Ordinary Life, was sold.
The Company's first offices were located on North High Street in Columbus. Three agents were appointed during that first year and CM's 1909 annual statement showed $110,026.20 in assets and surplus of $6998.01. By the end of 1910, Columbus Mutual had $1.75 million of life insurance in force.
Columbus Mutual quickly outgrew its first headquarters and moved to the Wyandotte Building on West Broad Street. The building, with its 10 floors, was one of Columbus' first skyscrapers. In 1914, the Home Office once again relocated, still within the heart of the city, to the Firestone Mansion at 580 E. Broad St.
A national influenza epidemic in 1918 caused many life insurance companies to decrease both surplus and dividends. Columbus Mutual came through the epidemic with "flying colors," in spite of the fact, as it was reported in a Company release, that "as many people died with influenza… as were killed, wounded, disappeared and died of disease… since World War I began." The company's surplus actually increased in spite of what was described as heavy losses.
In 1927, three years before Brandon's retirement, with 100 agents in the field force, the first $100,000,000 of life insurance in force was achieved. In 1930, two months after the stock market crashed on Black Tuesday, Brandon was succeeded to the presidency by Danforth E. Ball.
Ball joined CM in 1910 as Actuary and Secretary. Affectionately known to the field as "Uncle Dan," Ball guided the Company through the depression years. In the 10 years following the crash, Columbus Mutual's insurance in force increased by $10 million.
In 1941, the year in which the United States entered World War II, construction on the present
Home Office structure began. Located on the site of the Old Central High School, one of the
requirements was that the new owner was obliged to "memorize the good old days of Central
High in a plaque" within the building – a requirement with which the Company complied.
The next man to step into the president's office was Carl Mitcheltree. Known as the "Skipper" to
the CM field force, he served as president from 1950 to 1956. One of the important
contributions Mitcheltree made to the Company was his supplement to the Contract, including
general agents in the Company's field structure.
In contemplation of a merger, the Ohio State Life Insurance Company bought CM's stock in 1956 and Frederick Jones, a prominent Ohio businessman, took over the helm as president. But, when in 1962, the U.S. Supreme Court ruled that no merger would take place because of the Company's unique charter, Frank Barnes took over the presidency until the State Automobile Insurance Company acquired controlling interest in 1962 and Paul Gingher, a leading Ohio attorney, businessman and community leader, assumed the presidency.
The 19-year alliance between Columbus Mutual and State Auto Mutual marked a period of accelerated growth and modernization for Columbus Mutual, during which the Company achieved a 17 percent compound growth rate in sales of life insurance and continued as a low cost, high values company. Under Gingher's administration, new products were developed, the process of automation began, and the Company reached its first billion dollars of life insurance in force.
In 1967, Gingher became chairman of the board, passing the presidency to Ben F. Hadley,
CLU. Although Hadley's term was cut short by his untimely death in 1968 he had, during his
previous 20 years with Columbus Mutual, contributed heavily to the betterment of the Company.
Ralph Waldo, CLU, a member of CL's management team for 19 years, stepped into the
presidency at Hadley's death. Under Waldo's guidance, the Company continued to grow and
prosper, breaking ground to expand its Home Office facilities in 1969 and finishing the
implementation of the ALIS computer system with the first CM individual life policy being issued
by a computer in 1970. Under President Waldo's direction, the Company reached $2 billion of
insurance in force in 1972 and passed the $4-billion mark in 1980.
During 1981, the Company celebrated its Diamond Anniversary and reached a new historic height by achieving $1 billion of new life insurance sales. In addition, Columbus Mutual gained a new owner, Western-Southern Life Insurance Company of Cincinnati, one of the nation's largest mutual insurers.
In 1989, President Waldo retired. He remained a member of the Company's board of directors until his death in December 2002. Paul Amato, CLU, a former agent and associate of Columbus Mutual since 1967, took over the presidency in 1989. That same year, Columbus Mutual merged with Western-Southern and became Columbus Life. In 1993, Columbus Life celebrated $10 billion of life insurance in force.
In 1995 Columbus Life announced that by mid-1996 it would relocate the Home Office to Cincinnati, site of its parent company, Western-Southern. This move brings a bittersweet end for the original home of Columbus Life, but sparks excitement and anticipation for the opportunities awaiting the Company and its associates in Cincinnati.
In spite of many years of growth and modernization, the proudest achievement of Columbus Life people is that, throughout the history of the Company, the same principles on which the Company was founded have been kept alive.
