Grange Mutual Casualty Company said Tom Welch has been named as the company's new chief financial officer effective July 1.

The Columbus, Ohio-based insurer said Mr. Welch will replace Randy Montelone, who will retire at the end of the year after 29 years of service with the company.

Mr. Welch is currently president of the subsidiary, Grange Life Insurance Company. The two will serve concurrently as CFO through December. Mr. Welch will continue to lead the life company until his replacement is named, the insurer said.

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