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About Nationwide Mutual Insurance Company

Nationwide Mutual Insurance is a leading US property/casualty insurer with a strong position in the life insurance and retirement product markets. Its property/casualty products range from general personal and commercial coverage -- including auto, home, and businessowners policies -- to such specialty lines as professional liability, workers' compensation, agricultural, loss-control, and pet insurance. It also provides life policies, retirement plans, mutual funds, annuities, and banking services through its Nationwide Financial Services subsidiary. Nationwide operates from offices throughout the US.

Operations

Nationwide earns a majority of annual revenue from its property/casualty insurance operations, followed by sales of its Nationwide Financial Services products. It also earns revenue from investment income.

The company's operating subsidiaries -- including Allied Group, Harleysville, and Scottsdale Insurance -- all operate under the Nationwide brand.

Geographic Reach

Nationwide offers its products through more than 16,700 agencies located in all 50 US states. The company is headquartered in Columbus, Ohio, and has large offices in Brea, California; Des Moines, Iowa; Harleysville, Pennsylvania; San Antonio, Texas; and Scottsdale, Arizona. 

Sales and Marketing

Nationwide distributes its property/casualty products through a network of exclusive and independent agents. Nationwide Financial Services distributes its products through its own sales team and through banks, agencies, and advisors. 

The company markets its products through television ads, capitalizing on the strong brand-recognition of its popular "Nationwide is on your side" slogan. 

Customers include small businesses such as retail stores, offices, restaurants, contractors, auto shops, medical clinics, farms, and storage facilities. Larger business clients include construction firms, real estate developers, manufacturers, breweries, churches, senior living centers, and specialty care facilities.

Financial Performance

Nationwide has reported steadily increasing sales over the past five years. Overall, revenue grew 19% between 2014 and 2018, with the strongest growth in 2015 and 2017. Net operating income has fluctuated, increasing in 2015 and 2018 but declining in 2016 and 2017.

In 2018 Nationwide's revenue was relatively flat, increasing 1% to $46.9 billion. Net operating income doubled to $1.3 billion that year. Net investment income rose to some $4 billion.

Strategy

The US insurance industry has been mature for a long time, leaving little room for growth in established markets. Nationwide has sought growth by moving into assorted niches, including specialty auto coverage, specialty health coverage, pet insurance, and financial services. Increased demand for investment management products has driven Nationwide to expand in the field. 

At the same time, the company continues to build its presence in its core markets, including individual life policies, mutual funds, and retirement plans. To provide better options for small-business owners, the company launched a new 401(k) plan dubbed Nationwide Retirement Flexible Advantage in 2018. To provide more options for consumers, Nationwide is transitioning some of its exclusive agents into independent agents.

It has also been investing in upgrading its operating infrastructure, including its IT platforms. The company has partnered with investment advisory firm Techstars to explore relationships with technology startups, and it has teamed up with Nexar to utilize dashboard cameras and monitoring to promote safer driving habits. It has also introduced SmartMiles, which adjusts policy premiums based on number of miles driven and safe driving behaviors.

Company Background

In 1925 Murray D. Lincoln helped found the Farm Bureau Mutual Automobile Insurance Company to provide auto coverage for farmers in Ohio. The company had expanded to 12 states by 1943 and to 20 additional states by 1955. That year the changed its name to Nationwide. 

To leverage the strength of its brand, the group realigned its various operations under the Nationwide name in 2016. Previously, the company sold its products under subsidiary brands including Allied Group, Harleysville, Nationwide Agribusiness, GatesMcDonald, and Scottsdale Insurance.

Nationwide Mutual Insurance Company

ONE NATIONWIDE PLZ
Columbus, OH 43215-2226
Phone: 1 (614) 249-7111

Stats

Employer Type: Privately Owned
Chairman: Timothy J. Corcoran
CEO: Stephen S. Rasmussen
EVP and CFO: Mark R. Thresher
Employees (This Location): 2,425
Employees (All Locations): 34,417

Major Office Locations

Columbus, OH

Other Locations

Birmingham, AL
Cullman, AL
Decatur, AL
Gadsden, AL
Jasper, AL
Mobile, AL
Little Rock, AR
Malvern, AR
Rogers, AR
Chandler, AZ
Phoenix, AZ
La Mesa, CA
Marysville, CA
Reedley, CA
San Jose, CA
Lone Tree, CO
Rocky Hill, CT
Windsor Locks, CT
Hockessin, DE
New Castle, DE
Wilmington, DE
Boca Raton, FL
Brandon, FL
Clearwater, FL
Gainesville, FL
Leesburg, FL
Miami, FL
Okeechobee, FL
Orlando, FL
Palm Springs, FL
Pompano Beach, FL
Venice, FL
Winter Park, FL
Alpharetta, GA
Augusta, GA
Buford, GA
Cartersville, GA
Columbus, GA
Conyers, GA
Douglas, GA
Duluth, GA
Eatonton, GA
Roswell, GA
Des Moines, IA
Urbandale, IA
Boise, ID
Bloomingdale, IL
Chicago, IL
Glenview, IL
Hinsdale, IL
Wheaton, IL
Aurora, IN
Carmel, IN
Indianapolis, IN
Shawnee Mission, KS
Lexington, KY
Louisville, KY
Metairie, LA
Newton, MA
Baltimore, MD
Bowie, MD
Columbia, MD
Easton, MD
Linthicum, MD
Owings Mills, MD
Princess Anne, MD
Sykesville, MD
Dearborn Heights, MI
Holland, MI
West Bloomfield, MI
Chesterfield, MO
Jefferson City, MO
Saint Louis, MO
Hattiesburg, MS
Laurel, MS
Great Falls, MT
Asheville, NC
Belmont, NC
Concord, NC
Dunn, NC
Fuquay Varina, NC
Greensboro, NC
Hendersonville, NC
Hickory, NC
Kinston, NC
Knightdale, NC
Monroe, NC
New Bern, NC
Newport, NC
Pembroke, NC
Plymouth, NC
Raleigh, NC
Red Springs, NC
Shelby, NC
Tarboro, NC
Taylorsville, NC
Thomasville, NC
Waynesville, NC
Williamston, NC
Wilmington, NC
Winston Salem, NC
Lincoln, NE
Milford, NH
Portsmouth, NH
Santa Fe, NM
Albany, NY
Brooklyn, NY
Canton, NY
Elmsford, NY
Fredonia, NY
Geneva, NY
Greenvale, NY
Horseheads, NY
New Windsor, NY
New York, NY
North Syracuse, NY
Oceanside, NY
Penn Yan, NY
Romulus, NY
Saratoga Springs, NY
Smithtown, NY
Syracuse, NY
Waverly, NY
Westbury, NY
Williamsville, NY
Woodbury, NY
Akron, OH
Arcanum, OH
Canfield, OH
Canton, OH
Chesapeake, OH
Cincinnati, OH
Columbus, OH
Dublin, OH
Greenville, OH
Grove City, OH
Hillsboro, OH
Independence, OH
Kenton, OH
Lewis Center, OH
Marietta, OH
Maumee, OH
Olmsted Falls, OH
Ottawa, OH
Pandora, OH
Port Clinton, OH
Proctorville, OH
Sandusky, OH
Sidney, OH
Solon, OH
Stow, OH
Willoughby, OH
Willowick, OH
Woodsfield, OH
Altoona, PA
Bangor, PA
Birdsboro, PA
Bradford, PA
Brookville, PA
Camp Hill, PA
Hanover, PA
Harleysville, PA
Harrisburg, PA
Indiana, PA
Lancaster, PA
Monroeville, PA
New Bethlehem, PA
New Kensington, PA
Philadelphia, PA
Pittsburgh, PA
Port Allegany, PA
Shamokin, PA
Slippery Rock, PA
Troy, PA
Wellsboro, PA
Wescosville, PA
Wexford, PA
Whitehall, PA
North Kingstown, RI
Pawtucket, RI
Wakefield, RI
Aiken, SC
Conway, SC
Fort Mill, SC
Greenwood, SC
Brentwood, TN
Collierville, TN
Cordova, TN
Erwin, TN
Franklin, TN
Halls, TN
Knoxville, TN
Lawrenceburg, TN
Memphis, TN
Nashville, TN
Savannah, TN
Arlington, TX
Dallas, TX
Denton, TX
Desoto, TX
El Paso, TX
Farmers Branch, TX
Fort Worth, TX
Houston, TX
Mcallen, TX
Rockwall, TX
San Antonio, TX
Temple, TX
Texarkana, TX
Tyler, TX
Universal City, TX
Alexandria, VA
Altavista, VA
Chesapeake, VA
Danville, VA
Fairfax, VA
Franklin, VA
Galax, VA
Harrisonburg, VA
Haymarket, VA
Hillsville, VA
Martinsville, VA
Petersburg, VA
Richmond, VA
Roanoke, VA
Sterling, VA
Waynesboro, VA
Yorktown, VA
Wenatchee, WA
Wausau, WI
Capon Bridge, WV
Clarksburg, WV
Inwood, WV
Parkersburg, WV
Saint Albans, WV
Webster Springs, WV