Nationwide Mutual is one of America's best-known traditional insurers, but it has lost market share in key areas in recent years as a result of the rapid rise of more aggressive direct sellers such as Geico and Progressive, concentrating on the passenger auto segment. It slipped to 10th place among America's all lines property & casualty insurers in 2017. Nationwide provides a wide range of cover services, arguably the broadest offering of any US insurer. It is for example the country's #1 pet insurer, as well as the leader in small business and also farmowner insurance, the area in which it originally concentrated. It was founded in 1926 by members of the Ohio Farm Bureau, and gradually expanded its coverage into other farming states over the next 30 years, adopting the Nationwide name for the first time in 1955. It still maintains close links to farm bureaus and associations in 11 major farming states. Part of the company went public in 1997 as Nationwide Financial, but surrendered that listing just over a decade later to become an entirely private mutual organisation. Subsidiary brands include VPI, Harleysville, Titan, Allied and Scottsdale. Total revenues were $43.9bn in 2017, with operating revenues of $27.5bn, but net income has been under pressure from claims and interest payouts, falling to a multi-year low of $388m. Steve Rasmussen is CEO. Adbrands does not currently offer a business profile for this company but subscribers may access account assignments and contact information. The searchable account assignments database is available to full subscribers to Adbrands.net premium services. Click here to access Adbrands account assignments (subscribers only); or see here for information on how to subscribe.
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Capsule checked 28th March 2019
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