The President's Message
Growing Forward in Challenging Times
Growing Forward is our theme for the Annual Report this year, and a fitting one to describe Columbus Life in 2010. We consider ourselves the relationship company because of our strong connections with independent financial services professionals across the country. These solid relationships proved to be mutually productive as evidenced by the growth in both our business and the number of agencies representing Columbus Life to their clients.
Growth The fact that Columbus Life was growing in a turbulent, economically distressed environment is noteworthy. In 2010, Americans shouldered a stressful mix of low interest rates, an aging population, high unemployment rates and general economic unease. These unfavorable factors combined to create a population less inclined to purchase life insurance and annuities.
In spite of these obstacles, we demonstrated growth in a number of areas. This forward movement is a testament to Columbus Life's producers, who helped their clients see the value of life insurance protection despite other economic challenges. As a result of their efforts, Columbus Life experienced 22 percent growth in life insurance paid premium and 20 percent growth in the number of policies sold over 2009. Much of this growth took place in culturally diverse markets.
Our recruiting efforts continued to progress nicely in 2010 as well. Columbus Life added over 100 new agencies to represent our company in an increasingly diverse marketplace. We believe the financial professionals associated with us are among the best, most loyal and most effective producers in the industry. We hold their opinions and feedback in high regard, and believe this mutual respect is one of the reasons Columbus Life has families of producers who have remained loyal to us across generations.
Educational Offerings Among the ways we inspire loyalty in the producers who choose to do business with us is to offer personalized opportunities for growth. In 2010 we began offering more educational opportunities to help producers build their businesses. We created the Voyage of Discovery program to give producers new to Columbus Life the opportunity to visit the home office and learn how to do business with us most efficiently. The Advanced Sales Academy was instituted to offer focused training on sales and business-building concepts such as Capital Transfer and Business Succession planning.
Financial Strength Our forward progress was enhanced by the unwavering support and rock-solid financial strength of our parent company, Western & Southern Financial Group. As an enterprise, we weathered the Great Recession of 2008-2010 - the most serious economic trial since the Great Depression - and became bigger and stronger than ever before. Columbus Life is a reflection of our parent company's philosophy of building long-term financial strength through disciplined execution, integrity and perseverance. For producers and their clients who sought stability and guarantees, Columbus Life's financial strength was particularly attractive and the company benefited from a "flight to quality."
Producer Focus As we look forward, Columbus Life will continue to promote lasting relationships in order to grow the number of licensed producers representing us in all distribution channels. We will continue to provide producers with educational opportunities, well-designed products that will serve their clients' needs and technological innovations that will help them build their business. If you are a producer already contracted with us, I hope to personally express my appreciation for your continued business at our next National Producer Conference. If you are a producer not yet affiliated with Columbus Life, I encourage you to take a look at how we can help you serve your clients' needs. Our Regional Marketing Directors and Sales Desk will personally supply the tools you need. We wel-come your suggestions and your participation in our company's growth. Take a look at our solutions for your clients' personal, retirement, business succession, or estate planning needs. I think you'll find them among the best in the industry.
As always, my door and my mind are open.
J.J. Miller, FSA, CLU, ChFC
President and Chief Executive Officer
Columbus Life Insurance Company
