Grange Mutual Casualty Co. announced today that Randy Montelone will retire at year end after 29 years of service with the company. Tom Welch, current president of Grange Life Insurance Co., a Grange subsidiary, will be assuming the role of chief financial officer effective July 1, 2008. The two will serve concurrently as CFO through December. Welch will continue to lead the Life Company until his replacement is named.
Welch joined Grange as president of Grange Life in 2001, bringing more than 33 years of experience in financial management and the insurance industry. Before joining Grange, he held the position of CFO with Central Benefits Mutual Insurance Co. and handled investor relations, investments and strategic planning for Farmers Group. A graduate of Brown University and a native of Seattle, Wash., Welch holds the FSA, MAAA, FLMI and CLU designations.
Montelone started at Grange in 1979 as internal auditor and also held the title of treasurer before becoming CFO nine years ago. Montelone was appointed to the Grange board of directors in 1999.
Grange Mutual Casualty Group, based in Columbus, Ohio, is a $1 billion insurance provider through its network of independent agents. Grange offers auto, home, life, business and farm insurance protection through Grange Insurance and Integrity Insurance. The company serves policyholders in Georgia, Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia and Wisconsin.
For more information, visit www.grangeinsurance.com.
Source: Grange Insurance Co.
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