One Nationwide Plaza
Columbus, OH 43215–2220
Nationwide Insurance began as a small mutual auto insurance company owned by policyholders. Now, Nationwide has evolved as one of the largest insurance and financial service providers in the world, with more than $135 billion in statutory assets. The company has been providing excellent insurance products and services for more than eight decades.
Nationwide’s earliest years started through the sponsorship of eight farm bureaus who worked together to promote the company and provide discounts to members. Nationwide began in Ohio in 1926, and expanded into other states, including West Virginia, Maryland, Delaware, Vermont and North Carolina in 1928. By 1943, the company, then known as Farm Bureau Mutual, operated in 12 states and the District of Columbia. In 1955, the company expanded to the western region, adding 20 states in its operations. It was the same year the company changed its name to what it is known today: Nationwide Insurance. Through the years, Nationwide has gone international and has expanded to financial and banking.
The company centers on domestic property and casualty insurance, life insurance and retirement savings, asset management and strategic investments. As one of the largest insurance and financial services companies in the world, the Nationwide family includes 32 property and casualty insurance carriers, 12 allied companies, three farmland companies, eight Scottsdale companies, 42 life Insurance, retirement and investments providers, 20 asset management enterprises, and 20 strategic investments providers, totalling to 132 which makes up the Nationwide family of companies.
Established strength and stability has been demonstrated by Nationwide through the years. As of 2009, Nationwide is the 6th largest auto insurer in the United States, the 6th largest homeowner insurer in the United States, the 118th on the Fortune 500 list, the 11th largest variable annuities provider, and the number one provider of defined contribution plans. Also, Nationwide remained strong, stable and financially sound after the financial crisis in 2008, due to its preparation and decisive actions.
Nationwide offers a wide range of products and services. Insurance products include auto, homeowners, renters, life, motorcycle, and specialty insurance. Investment products include annuities and mutual funds, among others. Nationwide also provides banking services, such as mortgage loans, home equity loans and lines, auto loans, visa credit card, and money market accounts. Its business solutions comprise employee benefits, retirement plans, business baking, accident medical, farm and ranch insurance, and travel insurance.
Nationwide’s insurance companies assure their clients of the best products and personalized service that suits their household’s needs, by maintaining their integrity and capital strength. Nationwide Mutual Insurance Company, Nationwide Life & Annuity Insurance Company and Nationwide Life Insurance, in particular, have financial strength ratings of A+ form A.M. Best, A+ from Standard and Poor’s, and A1 from Moody’s.
Another advantage Nationwide has over the competition is its outstanding customer service. To guarantee its clients the exceptional customer service, Nationwide created the Office of Customer Advocacy, managed by Chief Customer Advocate Jasmine Green who works closely with the company’s Chief Executive Officer, Stephen S. Rasmussen.
As of the 3rd quarter of 2010, Nationwide has reported a total revenue of $ 4,891 million, and net income of $ 85 million. Its total assets reach $ 146,066 million while total policyholders’ equity is $ 17,343 million.