Investor Spotlight
Columbia Insurance Group
This month the spotlight shines on Columbia Insurance Group, which began its long and proud history in 1874. The Home Mutual Insurance Company was founded to fill a need for fire insurance on homes in rural Missouri. In 1889, Mr. Henry F. Stapel, a German immigrant, formed The Missouri Farmers Mutual Tornado, Cyclone and Windstorm Insurance Company in Rock Port, Missouri to provide these coverages as a companion to policies issued by the local fire insurance companies. In 1897, Mr. Stapel then formed the Farmers Mutual Hail Insurance Company in order to fill a similar need for crop insurance for farmers.
The company was renamed Farmers Mutual Windstorm Insurance and was relocated from Rock Port to Columbia, Missouri in 1929.
Now, over 130 years and five leaders later, Robert J. Wagner has assumed the mantel of leadership as President and Chief Executive Officer. He is guiding the companies with a philosophy of profit, growth and superior service.
From a meager beginning as a mono-line "windstorm insurance company" writing business only in the State of Missouri, the company has grown into a multi-line property and casualty company licensed in over 28 states. The only distribution channel that the company utilizes for its products is the independent insurance agency system. The company’s primary sales focus is small to medium sized businesses with personal and farm insurance as secondary lines.
The Home Office of Columbia Insurance Group is located in Columbia, Missouri. The company has branch offices located in: Atlanta, Georgia; Omaha, Nebraska; and Salina, Kansas.
The company produced nearly $200 million in written premiums in 2004 and insures over 123,000 policyholders in 10 states. The company outperforms the rest of the insurance industry on the average by having a lower statutory combined ratio – a sign of the economic performance of a profitable company.
Executive Vice President and Chief Operating Officer Mr. Gary Thompson understands the importance of Columbia Insurance Group’s investment in REDI. "With our headquarters in mid-Missouri, attracting and retaining talented and energetic employees is critical to our future success. REDI's efforts contribute significantly to the vibrancy of our community making mid-Missouri such a desirable place to live and work," he says. In addition to REDI, Columbia Insurance Group is involved in the Columbia Chamber of Commerce, the United Way, the American Red Cross, Advent Enterprises, Central Missouri Food Bank, Partners in Education and other organizations as a corporate community partner. Employees are also active members of their communities by being members of such organizations as Rotary, Optimists, Kiwanis, etc.
For more information, visit www.colinsgrp.com