Columbian Mutual Insurance Company
Columbian Mutual Insurance Company
Binghamton, New York
One hundred twenty five years of heritage growth, financial stability and strength – that is how one can describe Columbian Mutual Life, the parent company of Columbian Financial Groups
The company was established in 1882 under the banner of American Protective Association in Brooklyn, New York. It changed its name to Columbian Protective Association when it moved to Binghamton, New York in 1907. It changed to its present name in 1952, the same year when it was mutualized.
By the 1970s and ‘80s, the company had already expanded to all 50 states. Columbian continued to grow in the ‘90s and Columbian Life Insurance Company, a stock life insurance company housed in Illinois, was established. It was also able to establish its own marketing subsidiary, the Golden Eagle Sales Corporation.
An important event happened in 2003 — Columbian acquired UNIQ Benefit Solution. It was also in that year when the company established its administrative office in Atlanta, Georgia. Columbian gained a new stock subsidiary, National Safety Life Insurance Company, when it merged with Philanthropic Mutual Life Insurance Company in 2006.
In its 125th year, the company merged with another mutual insurer, Farmers and Traders Life Insurance Company. With this merger, Columbian assets has exceeded the $1 billion mark and its surplus position was at $70 million.
Mutual Detroit became a part of the Columbian Financial Group in 2008 and just last year, Columbian announced its newest single premium whole life product called EnsureEstate. This is designed specifically for those who want to make the most out of estate maximization and efficient transfer of assets.
Columbian Mutual Fund is led by its current president, chairman and chief executive officer Thomas Rattman. He, together with the rest of his team, continues the great tradition of Columbian. Throughout the company’s 127 years of existence, its has maintained an exceptionally strong investment portfolio. It continues to abide by its mission of earning the trust of its members as an insurance company with a strong past to secure its member’s future.
Columbian Mutual Fund offers a wide range of plans for its members. It has Home Service, Ordinary Insurance (Universal Life, Term, and Whole Life), Pre-need, Final Expense, and Senior Plans. It has designed its products with its customer in mind.
Columbian has received an A- (Excellent) rating from A.M. Best. proof of the company’s financial strength and stability. Based on its 2010 first quarter figures, Columbian Mutual Fund has an asset of $890,870,864, total liabilities of $803,545,259 and a surplus of $87,325,605. The company is also well capitalized based on Capital Adequacy test. Its bond portfolio consists mostly of investment grade securities (bonds rated Class 2). Its commercial mortgage loan program continues to perform well, too.
Since its beginnings, the company has been committed to providing value to its policyholders. In line with this, Columbian has customer service-oriented employees who are very supportive and knowledgeable. They are very prepared to answer concerns and to give assistance to customers anytime the latter may need it. Columbian’s objective is client satisfaction.
If you are looking for a company that has over a century of experience, then Columbian Mutual Life Insurance Company is definitely for you. More important, Columbian Mutual Life is “built on the foundation of value and service with a standard of dependability” that its customers can truly trust.
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- Whole Life Insurance
- What is a Universal Life Insurance?
- Waiver of Premium
- Waiting Period
- Voluntary Reserve
- Viatical Settlement Provider
- Variable Universal Life Insurance
- Variable Annuitization