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.
Mr. Welch joined Grange as president of Grange Life in 2001. The company said he has 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 Company.
Mr. Montelone started at Grange in 1979 as internal auditor and also held the title of treasurer before becoming CFO nine years ago.
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