- Nationwide Mutual Insurance Company
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Nationwide Mutual Insurance Company 
Type Mutual Industry Financial services Founded 1926 Headquarters Columbus USA Key people Steve Rasmussen, CEO Products Insurance, Investments, Banking Revenue 
$21.832 billion USDWebsite nationwide.com Nationwide Mutual Insurance Company & Affiliated Companies is a group of large U.S. insurance and financial services companies based in Columbus. The company also operates regional headquarters in Des Moines, Iowa, San Antonio, Texas, Gainesville, Florida, and Lynchburg, Virginia.
Nationwide Financial Services, a component of the group, was publicly traded on the New York Stock Exchange prior to being purchased by Nationwide Mutual in 2009.[1]
Contents
History
Beginnings as Farm Bureau Mutual
On December 17, 1925, the Ohio Farm Bureau Federation incorporated the Farm Bureau Mutual Automobile Insurance Company in Columbus, Ohio. At that time, Ohio law required 100 people to pledge to become policyholders. The first agents managed to recruit ten times that number, and on April 12, 1926, Farm Bureau Mutual started business with 1,000 policyholders.
The first product of the new company, as its name implied, was automobile insurance. The company wrote policies only to Ohio farmers. In 1928, Farm Bureau Mutual began offering policies to West Virginia farmers, followed by Maryland, Delaware, Vermont, and North Carolina. Farm Bureau Mutual began underwriting residents of small towns in 1931, and residents in larger cities in 1934.
Expansion
Nationwide sign outside of One Nationwide Plaza.
Also in 1934, Farm Bureau Mutual began offering fire insurance. This product grew the following year with the purchase of a struggling fire insurance company. With growth came a need for expansion of office space. In 1936, the company moved to the famous 246 Building at 246 N. High Street in Columbus. By 1943, Farm Bureau Mutual operated in 12 states and the District of Columbia. Even with the tripling of space in the 246 Building (which was finally dedicated on the 25th anniversary of the company), Farm Bureau Mutual still had insufficient office space, and began opening regional offices in 1951.
In 1955, Farm Bureau Mutual changed its name to Nationwide Insurance, a name by which it's commonly known today. In the 10 years that followed, Nationwide expanded into Oregon, making the company truly "nationwide". It also expanded into 19 other states, bringing the total by 1965 to 32 states and the District of Columbia.
Nationwide outgrew the 246 Building by the 1970s and work began on a new skyscraper headquarters for the company. In 1978, One Nationwide Plaza was completed at the southwest corner of N. High Street and Nationwide Blvd. on the northern edge of downtown Columbus, Ohio. Since 1978, Nationwide has added the following to its presence in Downtown Columbus: Plaza Two (on the northeast corner of High Street and Chestnut), Plaza Three (just west of High Street and Chestnut), Plaza Four (Front Street), and 275 Marconi (behind Plazas One and Three on Marconi Blvd) which together with Plaza One form the primary downtown complex. In addition to downtown Columbus, Nationwide also has a significant presence in the suburbs of Dublin and Grove City.
Nationwide currently has about 36,000 employees,[2] and is ranked #124 in the most recent Fortune 500.[3]
Helping Columbus become a major league city
One Nationwide Plaza, the headquarters in Columbus.By 1997, the city of Columbus had grown to become the 15th largest city in the United States. However, Columbus by this time was the largest American city without a major professional sports franchise competing in one of the following leagues representing sports traditionally contested in the United States, i.e. those of Major League Baseball, the National Football League, the National Basketball Association, or the National Hockey League. After plans to move the Hartford Whalers to Columbus failed when voters rejected a tax levy, the Nationwide Mutual Insurance Company announced that it would build an arena adjacent to One Nationwide Plaza in an effort to bring an NHL franchise to Columbus. This second effort was successful, and the Columbus Blue Jackets began play at Nationwide Arena in late 2000. Nationwide Arena, named for the company, is the centerpiece of the Arena District, an area of entertainment venues, restaurants, and hotels linking downtown Columbus with The Short North neighborhood.
The Columbus Crew of Major League Soccer were actually the first Major League franchise representing Columbus in the post-war era, and they play at their own stadium, Columbus Crew Stadium, which was the first Soccer-specific stadium built in the United States, opening in 1999. The Crew were one of the original members of the MLS, and recently won their first MLS Cup in 2008.
Nationwide Tour
In 2003, Nationwide became the sponsor of the second-highest professional golf tour in the United States.
Nationwide Children's Hospital
On September 24, 2007 Columbus Children's Hospital was rededicated as Nationwide Children's Hospital. This was done in response to a $50 million donation to the hospital by Nationwide.[4]
Nationwide Series
Nationwide became the title sponsor of the NASCAR Nationwide Series beginning in the 2008 season.
Memorial Tournament
On Sept. 3, 2010, Nationwide announced a six-year deal to become the presenting sponsor of the PGA Tour Memorial Tournament beginning with the 2011 event.
Jack Hanna
In March 2010 Nationwide announced that it would be co-sponsoring Columbus Zoo Director Emeritus Jack Hanna's "Into the Wild" TV show and national speaking tour.
Cincinnati Bengals
On August 5, 2010, Nationwide announced that it is now the official insurance provider of the Cincinnati Bengals.
The Companies
Nationwide 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.
The Nationwide family includes:
Property and Casualty
Nationwide
- Atlantic Floridian Insurance Company
- Colonial County Mutual Insurance Company
- Crestbrook Insurance Company
- Lone Star General Agency
- Nationwide Affinity Insurance Company of America
- Nationwide Assurance Company
- Nationwide Corporation
- Nationwide Exclusive Agent Risk Purchasing Group
- Nationwide General Insurance Company
- Nationwide Indemnity Company
- Nationwide Insurance Company of Florida
- Nationwide International Underwriters
- Nationwide Lloyds
- Nationwide Mutual Fire Insurance Company
- Nationwide Mutual Insurance Company
- Nationwide Property and Casualty Insurance Company
- Retention Alternatives Ltd.
- Whitehall Holdings, Inc.
- WI of Florida, Inc.
Titan
- THI Holdings (Delaware), Inc.
- Titan Auto Insurance of New Mexico, Inc.
- Titan Indemnity Company
- Titan Insurance Company
- Titan Insurance Services, Inc.
Victoria
- Victoria Automobile Insurance Company
- Victoria Fire & Casualty Company
- Victoria National Insurance Company
- Victoria Select Insurance Company
- Victoria Specialty Insurance Company
Allied
- Allied General Agency Company
- Allied Group, Inc.
- Allied Property and Casualty Insurance Company
- Allied Texas Agency, Inc.
- AMCO Insurance Company
- Cal-Ag Insurance Services, Inc.
- CalFarm Insurance Agency
- Depositors Insurance Company
- Nationwide Document Solutions, Inc.
- Nationwide Insurance Company of America
- Nationwide Sales Solutions, Inc.
- Premier Agency, Inc.
Farmland
- F & B, Inc.
- Farmland Mutual Insurance Company
- Nationwide Agribusiness Insurance Company
Scottsdale
- DVM Insurance Agency, Inc.
- National Casualty Company
- Scottsdale Indemnity Company
- Scottsdale Insurance Company
- Scottsdale Surplus Lines Insurance
- V.P.I. Services, Inc.
- American Marine Underwriters
- Insurance Intermediaries
- Veterinary Pet Insurance Company
- Western Heritage Insurance Company
Life Insurance, Retirement and Investment
- 1717 Advisory Services, Inc.
- 1717 Brokerage Services, Inc
- Nationwide Securities, LLC
- Gardiner Point Hospitality, LLC
- Life REO Holdings, LLC
- Nationwide Affordable Housing, LLC
- Nationwide Alternative Investments, LLC
- Nationwide Bank
- Nationwide Community Development Corporation, LLC
- Nationwide Financial Assignment Company
- Nationwide Financial Institution Distributors Agency, Inc.
- Nationwide Financial Services Capital Trust
- Nationwide Financial Services, Inc.
- Nationwide Financial Structured Products, LLC
- Nationwide Fund Advisors
- Nationwide Fund Distributors LLC
- Nationwide Fund Management LLC
- Nationwide Investment Advisors, LLC
- Nationwide Investment Services Corporation
- Nationwide Life Insurance Company
- Nationwide Life Insurance Company of Delaware
- Nationwide Life Tax Credit Partners 2007-A, LLC
- Nationwide Provident Holding Company
- Nationwide Retirement Solutions Insurance Agency, Inc.
- Nationwide Retirement Solutions, Inc.
- Nationwide Retirement Solutions, Inc. of Arizona
- Nationwide Retirement Solutions, Inc. of Ohio
- Nationwide Retirement Solutions, Inc. of Texas
- NF Reinsurance Ltd.
- NFS Distributors, Inc.
- Olentangy Reinsurance Company
- Pension Associates, Inc.
- Provestco, Inc.
- RCMD Financial Services, Inc.
- Registered Investment Advisors Services, Inc.
- TBG Aviation, LLC
- TBG Danco Insurance Services Corporation
- TBG Financial & Insurance Services Corp.
- TBG Insurance Services Corporation
- Washington Square Administrative Services, Inc.
Asset Management
- Audenstar Limited
- Corviant Corporation
- Nationwide Asset Management Holdings
- Nationwide Emerging Managers, LLC
- Nationwide Global Funds
- Nationwide Global Ventures, Inc.
- Nationwide Mutual Funds
- Nationwide SA Capital Trust
- Nationwide Separate Accounts, LLC
- Nationwide Variable Insurance Trust
- Newhouse Capital Partners, LLC
- Newhouse MD LLC
- Newhouse Special Situations Fund I, LLC
- NWD Asset Management Holdings, Inc.
- NWD Investment Management, Inc.
- NWD Management & Research Trust
- Riverview Alternative Investment Advisors, LLC
- Riverview International Group, Inc.
- The Healthcare Fund LDC
- National Casualty Company of America, Ltd.
Strategic Investments
- AGMC Reinsurance, Ltd.
- FutureHealth Corporation
- FutureHealth Holding Company
- FutureHealth Technologies Corporation
- Gates, McDonald & Company
- Gates, McDonald & Company of New York, Inc.
- GatesMcDonald Health Plus Inc.
- Intervent USA, Inc.
- Nationwide Advantage Mortgage Company
- Nationwide Asset Management, LLC
- Nationwide Better Health, Inc.
- Nationwide Cash Management Company
- Nationwide Global Holdings, Inc.
- Nationwide Management Systems, Inc.
- Nationwide Mutual Capital I, LLC
- Nationwide Mutual Capital, LLC
- Nationwide Private Equity Fund, LLC
- Nationwide Realty Investors, Ltd.
- Nationwide Realty Management, LLC
- Nationwide Services for You, LLC
Additionally, Nationwide Communications, a broadcasting company that owned radio station WNCI, was once owned by Nationwide.
Diversity
Since 2004, Nationwide has continuously received a 100% rating each year on the Corporate Equality Index, which is released by the gay rights activist group Human Rights Campaign. Nationwide includes “sexual orientation” and “gender identity” in its equal employment opportunity policy, and provides diversity training to its employees on sexual orientation.[citation needed]
In 2008 Nationwide entered into an exclusive partnership with Tavis Smiley, including sponsorship of Smiley’s PBS television program as a provider of property and casualty insurance products.
Nationwide was also a national sponsor of the 2009 State of the Black Union event.
Mobile claims application: Nationwide Mobile
On April 22, 2009, Nationwide released Nationwide Mobile, a free iPhone application for Nationwide auto insurance customers and other iPhone users. The app is designed to assist drivers with the steps to take after an accident. It also helps Nationwide customers start the claims process, finds Nationwide-certified local repair shops, and facilitates the exchange of accident and insurance information. With the release of Nationwide Mobile, Nationwide asserted that it was the first insurance company to offer a claims application for a mobile device.
Nationwide Mobile was cited by Advertising Age as one of the top branded iPhone apps of 2009 in a Dec. 14, 2009 article.
Nationwide has since added an Android version of Nationwide Mobile.
CEOs
CEO Years Served Lee B. Palmer 1926–1928 George L. Cooley 1928–1939 Murray Lincoln 1939–1964 Bowman Doss 1964–1969 George Dunlap 1969–1972 Dean Jeffers 1972–1981 John Fisher 1981–1992 Dimon McPherson 1992 - December 31, 2000 Jerry Jurgensen January 1, 2001–2009 Steve Rasmussen 2009–Present See also
References
- ^ Nationwide. Nationwide Mutual Completes Nationwide Financial Services Transaction. Press release.
- ^ Facts and Figures Nationwide.com
- ^ Fortune 1000. CNN Money. 4 May 2009.
- ^ Columbus Children's Hospital Becomes Nationwide Children's Hospital
External links
General
- Nationwide's official website
- Gates McDonald Company
- Gates McDonald HealthPlus
- Insurance Intermediaries, Inc.
- Nationwide Series page on nationwide.com
- Nationwide Mobile app for iPhone
Coordinates: 39°58′04″N 83°00′10″W / 39.9678933°N 83.0026799°W
Categories:- Financial services companies of the United States
- Insurance companies of the United States
- Mutual insurance companies
- Companies established in 1926
- Companies based in the Columbus, Ohio metropolitan area
- Life insurance companies
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