Nationwide Insurance Company Financial Performances from Time to Time- Nationwide Mutual Insurance Company is one of the biggest insurance companies in United States of America (USA). This company was founded in 1920s as Farm Bureau Mutual and later in 1955, the name was changed into Nationwide insurance until this time. To date, this company has main office in One Nationwide Plaza, Columbus, Ohio, U.S.A. Until 2022, The Nationwide has total investment portfolio around $123.6 billion and they have Claims and benefits paid to members around $18.8 billion.
In insurance business, Nationwide has some diversified products. Some of the insurance products from Nationwide , namely:
- Vehicle insurance (Auto, Classic car, Boat, Snowmobile, ATV, Motorcycle, RV, motorhome, travel trailer & camper, Personal watercraft, Scooter, and Golf cart)
- Homeowners (Renters, Condo, and Flood)
- Life (Term, Universal, Whole, Variable, Long-term care)
- Specialty (Personal umbrella, Travel, Pet, Specialty liability, Identity theft, and Dental)
The Sales and Net Operating Income of Nationwide Mutual Insurance Company
| Years | Total Sales | Net Operating Income |
|---|---|---|
| USD ($) Billion | USD ($) Billion | |
| 2017 | 46.5 | 0.6 |
| 2018 | 46.9 | 1.3 |
| 2019 | 49.3 | 1.9 |
| 2020 | 46.6 | 0.8 |
| 2021 | 52.9 | 2.8 |
| 2022 | 56.8 | 1.4 |
| Source : Nationwide Annual Report, 2019-2022 | ||
The business performance of Nationwide Insurance has good conditions. This company showed the business growth from time to time.In 2017, the total sales of Nationwide achieved USD 46.5 billion with net operating income reached USD 0.6 billion. Meanwhile in 2022, the total sales of Nationwide were USD 56.8 billion with Net Operating income around USD 1.4 billion.
The Assets of Nationwide Mutual Insurance Company
| Years | Total Assets |
|---|---|
| USD Billion | |
| 2017 | 236.1 |
| 2018 | 225.5 |
| 2019 | 253.6 |
| 2020 | 274 |
| 2021 | 295.7 |
| 2022 | 270.2 |
| Source : Nationwide Annual Report, 2019-2022 | |
Based on the financial conditions in annual report, the financial conditions of nationwide was in good. In 2017, the total Assets of Nationwide was USD 236.1 billion and became USD 270 billion in 2022. Based on the financial ratings, this company has A+ from AM Best, A1 from Moddy’s, and A+ Standard & Poor’s.
Bibliography of Nationwide Company Financial Performances from Time to Time
Nationwide. 2023.Annual Report 2017-2022.Accessed via https://www.nationwide.com on July 25th, 2023.
