Nationwide

Provider of insurance and retirement products.

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Headquarters:
One Nationwide Plaza
Columbus, OH 43215
Employees: 33,000
CEO: Steve Rasmussen
Mutually held

Website: http://www.nationwide.com

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Nationwide is on your side. It is one of the largest insurance and financial services companies in the world, focusing on domestic property and casualty insurance, life insurance and retirement savings, asset management and strategic investments.

Nationwide is a mutually held company. It has over 16 million policies in force. Nationwide is the seventh-largest automobile insurer in the U.S. and seventh-largest homeowner insurance based on policies written. It is the number one provider of public-sector retirement plans and number one provider of farmowner insurance.

Nationwide reported revenue of $23.9 billion in 2014, down from $24.5 billion, and net income of $341 million. Total assets were $195.2 billion at the end of 2014.

The company paid out $15.5 billion in claims in 2014.

History

The Ohio Farm Bureau Federation, a consumer group organized by Ohio farmers, started what would become Nationwide in 1925. Early Farm Bureau leaders felt that established insurers were overcharging for auto insurance. While they knew little about insurance, common sense told them that rural drivers should pay less for auto insurance if they had fewer accidents than city motorists.

The Ohio Farm Bureau Federation incorporated the Farm Bureau Mutual Automobile Insurance Company on December 17, 1925. Working with a $10,000 loan, the company opened a one-room office in downtown Columbus staffed with three employees. Twenty part-time agents volunteered to sell auto insurance policies without commission to give the company a running start.

As the company expanded to more states across the country, Farm Bureau Mutual changed its name to Nationwide Insurance in 1955

The company would go public in 1997. In 2009, Nationwide Corporation, a wholly owned subsidiary of Nationwide Mutual Insurance Company (Nationwide), purchased all of the outstanding shares of common stock of Nationwide Financial Services (NFS) it did not already own; NFS becomes a wholly-owned subsidiary of Nationwide and a private company.

Benefits

Nationwide offers comprehensive insurance options, a 401(k) plan and a pension plan, as well as other investment opportunities, educational assistance programs, generous paid time off, child care and elder care referral sources, and more.

Updated December 8, 2015