Thomas E. Rattmann announced at the company’s Annual Meeting this week his intention to retire as Chief Executive Officer of the Columbian Financial Group effective December 31, 2016. The Board of Directors has asked Rattmann to continue his service on the Board and as the Board’s Chairman. The Board also indicated that Michael C. S. Fosbury will become Chief Executive Officer upon Rattmann’s retirement. Fosbury joined Columbian in 2003, and currently serves as President and a member of the Board of Directors.
“Tom’s tenure has been one of extraordinary growth, success and transformation for Columbian” said Edward J. Muhl, a Board member and former Superintendent of Insurance for the State of New York. He continued, “Tom’s presence on the Board will ensure an orderly management transition for the Company as it continues to expand in New York and around the country.”
Rattmann joined Columbian in 1990 as Chief Investment Officer. Over the following years he assumed responsibility for additional areas of the company and became Columbian’s CEO in 1999. During his tenure the Company has carried out five mergers and two acquisitions and has become a major player in selling life insurance products designed for working families across the United States. Over the past twenty-six years assets have grown from $304 million to over $1.6 billion, premiums have grown from $62 million to $231 million, and capital has grown from $18.5 million to over $91 million. With close to 1 million policyholders and $10 billion of life insurance in-force, Columbian employs over 300 associates in New York State and 50 in Georgia, and has over 15,000 independent agents proudly selling its life products.
Columbian Mutual Life Insurance Company is domiciled in New York, headquartered in Binghamton, and licensed in all 50 States, the District of Columbia, U.S. Virgin Islands and American Samoa.