The President's Message
The uncertainty in the markets and an unpredictable economy are leading many people to examine their lives and priorities, and re-evaluate what is most important to them. You might say that we are getting back to what is real in our professional and personal lives.
Real life can throw turbulence your way, and Columbus Life is like a seasoned sailing vessel that has weathered many squalls and remained watertight. We stand strong during the economic storms and provide stability in troubling times. During 2008, the United States experienced its most challenging financial crisis since the 1930s with many financial services companies suffering big losses and facing bankruptcy. Well-known companies were battered in the economic storm, but Columbus Life's fiscal discipline, sound investment strategies, and extraordinary capital-to-asset ratio kept our business stable and our policyowners protected.
In 2008, Columbus Life's financial strength was particularly attractive to consumers rocked by the economic winds who sought stability and real guarantees. This flight to quality resulted in Columbus Life enjoying a near record year in annuity sales with more than $74 million in new premium.
Those financial professionals who have chosen to affiliate themselves with us — and they are about 2,000 strong — are among the best, most loyal, and most effective producers in the industry. I can speak for all Columbus Life associates in saying that our relationships with our independent producers are the most rewarding aspect of our daily work. Furthermore, these men and women are Columbus Life's most valuable asset, and their complete satisfaction in our products, support, compensation and recognition is paramount.
Real People. Real Life. is the theme of this annual report. From our home office in Cincinnati, Ohio, to all offices across the country that have a Columbus Life affiliation, we are a team of real people with real compassion and unwavering ethics. Every day, we meet the challenges of real life and work together so we all can enjoy the victories. Independent producers looking for a company that understands the rigors of real life and conducts business according to the Golden Rule find us a perfect partner. Individuals looking for financial services that can weather the most jolting of economic storms and meet the toughest challenges of real life are invited to consider becoming a policyowner.
To borrow a phrase from America's first Navy admiral, David G. Farragut, it will be "full speed ahead" as we continue to monitor the economy and our investments amid the economic turmoil. Should you have any feedback during our journey together, give me a ring or drop me a note.
As always, my door and my mind are open.
J.J. Miller, FSA, CLU, ChFC
President and Chief Executive Officer
Columbus Life Insurance Company
