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 Throughout its history, Columbus Life Insurance Company has experienced a rich heritage of significant events and changes — many of which parallel other historical events. Our past has much to do with what we offer Columbus Life representatives. And we think you will see that sometimes the little things make the difference between a mediocre company and an excellent one. By reviewing our company's history, see what a difference one man's vision can make in the way we work to protect the valued relationships with our financial professionals and continue to meet the diverse needs of our policyowners.  1903 Displeased with what he called "inequities" in the way policyowners and agents were treated by those in the life insurance industry, Channing Webster Brandon began selling stock in a new life insurance company called The Columbus Mutual Life Insurance Company, based in Columbus, Ohio. For the next three years, despite his being partially disabled, Mr. Brandon (affectionately nicknamed "Pop"), traveled all over Ohio, promoting his plans for life insurance that offered policyowners "the best insurance for the least money" and producers "a square deal" from the Company. 1906 Columbus Mutual Life Insurance Company was incorporated. After meeting a stringent State of Ohio requirement $100,000 in "idle money" be set aside, Mr. Brandon began Company operations with a whopping $49.60! Originally, Mr. Brandon wanted the Company to be designated as a mutual life insurance organization, but since Ohio law had no such provision, the Company was officially deemed a stock company. However, Columbus Mutual adheres to his desire to function as a mutual company in principle. This means all surplus funds were to be owned by policy owners on the mutual plan and stockholder dividends were forever limited to 10% of the original $100 value of each share of stock. 1908 Following a national economic depression after the stock market crash (not to be confused with the major crash of 1929), Columbus Mutual Life Company sold its first coverage, a $5,000 Ordinary Life policy. During this first year of official business, the Company had three agents marketing its products. 1910 In just one year, Columbus Mutual's life insurance in force multiplies -- from $335,750 to $1.75 million. 1918 Columbus Mutual continues to show a profit, despite great losses as a result of World War I and the influenza epidemic. 1927 With more than 100 financial professionals, Columbus Mutual achieved its first $100 million of life insurance in-force. 1939 Despite the Great Depression of the past decade, the Company's insurance in-force increased by $10 million. 1941 As a result of steady growth, Columbus Mutual began construction on its fourth home office location since 1908. Having selected Columbus Ohio's Old Central High School, the Company complied with the unusual requirement to "memorialize the good old days of Central High in a plaque." In 1996, after 55 years of service, this building once again became home to the halls of learning, as Capital University Law School. 1956 The Ohio State Life Insurance Company bought Columbus Mutual's stock, in preparation for a merger. Unfortunately, the Company's unusual charter (as a stock company) pre-empted the much-anticipated merger. 1962 State Automobile Mutual Insurance Company acquired controlling interest in Columbus Mutual. For the next 19 years, Columbus Mutual experienced accelerated growth and automation. More importantly, the Company continued its reputation as a "low cost, high value" insurance company. 1970 Columbus Mutual issued its first individual life policy by computer, via a system called ALIS (Automated Life Insurance System). 1972 Under the leadership of president Ralph Waldo, Columbus Mutual doubled in size from 1968 to 1972, achieving $2 billion of insurance in force. 1980 Columbus Mutual doubled in size once again, achieving $4 billion of insurance in-force. 1981 Ranked in the top 8% of life insurance companies, Columbus Mutual celebrated its 75th anniversary by achieving $1 billion in new sales for the year. 1982 The Western and Southern Life Insurance Company of Cincinnati acquired Columbus Mutual. 1989 Columbus Mutual became a "true" mutual company by merging into The Western and Southern Life Insurance Company and a new pure stock company was created -- Columbus Life Insurance Company. Western and Southern invests significant capital into Columbus Life and positions it for entry and tremendous growth in an upscale marketplace. 1990 Paul Amato became president of Columbus Life. Columbus Life financial professionals now offered health insurance product lines (through Continental General Insurance Company, an affiliate), new individual life and annuity products, and the services of a broker dealer (Capital Analysts Incorporated, a subsidiary). Columbus Life also continued to make other business improvements, through reorganization of home office services, expanded underwriting limits, and a new home office administration and communication system. As a result, the Company steadily increases new business and earned a AAA rating from Standard & Poors and Duff & Phelps for claims-paying ability. 1996 In response to great consumer and agent demand, Columbus Life became the first Western and Southern affiliate to launch a marketing Web site on the Internet's World Wide Web. In keeping with the need to make the Web site a valuable resource -- and attractor for potential producers -- the Columbus Life site became the first in the world to offer free Continuing Education credits online. In the summer of 1996, Columbus Life relocated its home office to Cincinnati, to take advantage of economies of scale by combining certain non-sales, non-service functions with Western and Southern's family of insurance and financial services. 1998 With progressive forethought, Columbus Life excelled in advanced technologies of CD-ROM and Internet development to produce a new web site that aids both agents and consumers. It is further expanding its Online Continuing Education courses and additionally developing its Digital Toolbox and Producer Extranet, which will provide immediate information to agents so they can better serve their customers. 1999 Early in 1999, Columbus Life surpassed 2 billion in assets. Its public Web site is completely updated with a bright, new look. The private producer Extranet site was up and running, giving the field force fast and convenient access to commissions, policy information and company news. In August, Variable Universal Life was introduced into the product line. Paul Amato retired after serving as President and CEO for nine years. Larry Grypp became the new President and CEO. 2000 In September of 2000, Columbus Life's parent company, Western & Southern Financial Group, reorganized as a mutual holding company. 2001 Change came quickly and tragically to the financial services industry in 2001 with the events of September 11. 2004 In 2004, Columbus Life continued its exceptional growth with a 46 percent compound increase in new sales during the previous four years, thanks to the confidence of its clients and producers. 2005 Strengthening our offerings even further, Columbus Life welcomed Lafayette Life Insurance Company as a strategic partner when it joined Western & Southern Financial Group in 2005. |
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