Company Overview of Nationwide Mutual Insurance Company
Nationwide Mutual Insurance Company provides personalized insurance and financial services. It offers auto insurance, motorcycle, boat, homeowners, life insurance, farm, commercial insurance, annuities, mortgages, mutual funds, public and private sector retirement plans, administrative services, pensions, long-term savings plans, and health and productivity services. The company also provides property insurance, business owners’ policy, general liability insurance, coverage by industry, and more. In addition, it offers business banking products and services, including checking accounts, money markets, CDs, and more; and watercraft claims. Nationwide Mutual Insurance Company was formerly know...
One Nationwide Plaza
Columbus, OH 43215-2220
Founded in 1925
Key Executives for Nationwide Mutual Insurance Company
Chief Executive Officer and Director
Chief Financial Officer and Executive Vice President
President of Allied Insurance and Chief Operating Officer of Allied Group
President of Nationwide Insurance and Chief Operating Officer of Nationwide Insurance
President of Nationwide Financial Services and Chief Operating Officer of Nationwide Financial Services
Compensation as of Fiscal Year 2013.
Nationwide Mutual Insurance Company Key Developments
Nationwide Mutual Insurance Company Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2013
Aug 20 13
Nationwide Mutual Insurance Company reported earnings results for the second quarter and six months ended June 30, 2013. The company reported that net income for the second quarter ended June 30, 2013 was $657 million, compared to a net loss of $122 million for the same quarter ended June 30, 2012. Total revenue for the second quarter ended June 30, 2013 was $6.44 billion, compared to $5.4 billion for the same quarter ended June 30, 2012.
Net income for the six months ended June 30, 2013 was $1.14 billion, compared to $386 million for the same period ended June 30, 2012. Total revenue for the six months ended June 30, 2013 was $12.27 billion, compared to $10.9 billion for the same period ended June 30, 2012.
NorthPointe Capital to Pursue Fraud Claims Against Nationwide Mutual Insurance Company
Jun 26 13
NorthPointe Holdings, LLC announced that, with its recent success in court, it will continue to vigorously pursue its lawsuit against Nationwide Mutual Insurance Company and its various entities alleging fraud, lack of good faith and fair dealing, and breach of contract. The lawsuit, filed in The Delaware Superior Court, relates to NorthPointe's 2007 buyout of Nationwide's majority interest in the firm. The agreement provided that Nationwide would maintain assets and retail mutual funds with NorthPointe for at least three years. Nationwide began removing significant assets within three months of the closing and effectively closed most of the mutual funds NorthPointe managed for the insurance company within 14 months of the buyout closing. Documents subsequently obtained through the discovery process revealed that Nationwide was planning on replacing NorthPointe as a subadvisor on its mutual funds even before the buyout agreement was sealed. This lawsuit cannot be characterized as baseless. NorthPointe filed its lawsuit in November 2009. Judge Herlihy denied Nationwide's third dispositive motion in May 2013. A trial date has been set for January 2014.
Nationwide Mutual Insurance Company Appoints Michael Toelle to the Board of Director
Apr 4 13
On April 3, 2013, Michael Toelle, CHS Inc. Director for Region 1 (Minnesota), notified CHS of his resignation from the Board of Directors due to his nomination for election to the board of directors of Nationwide Mutual Insurance Company. CHS has been advised that Mr. Toelle was elected to Nationwide board at the April 4, 2013 Nationwide Annual Meeting. Mr. Toelle has been a member of the CHS Board of Directors since 1992 and presided as Chairman from 2002 through 2011. In accordance with the Bylaws, the remaining directors may fill his vacancy until the next Annual Meeting of the members to be held on December 5, 2013.
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