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Website: http://www.nationwide.com 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 sixth-largest automobile insurer in the U.S. and sixth-largest homeowner insurance based on policies written. It is the number one provider of defined contribution plans. Nationwide reported revenue of $20.7 billion and net income of $716 million in 2009. Total assets were $140.1 billion at the end of 2009. 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 16, 2010 |