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Global 500

Tom Griffin

241

Nationwide

U.S.

The property and casual insurer has continued its transition to a single Nationwide brand for all its subsidiaries. So far the consolidation is paying off. Revenues increased 11% last year, and profits jumped nearly 35%. The boost was in part due to its financial services arm. That business benefited from booming sales of life insurance and retirement plans, as well as an expansion in the assets under management. Assets in Nationwide’s mutual funds and retirement plans have ballooned during the ongoing bull market, surpassing $210 billion at the end of last year. That’s generating higher fees for the Columbus, Ohio-based company. As a result, Nationwide rose 16 spots on the Fortune 500, to No. 69 on this year’s list.

CEO

Stephen S. Rasmussen

Sector

Financials

Industry

Insurance: Property and Casualty (Mutual)

HQ Location

Columbus, OH

Employees

34,032

Years on Global 500 List

22

Key Financials (last fiscal year)
($ Millions)% change
Revenues ($M)$40,22210.9%
Profits ($M)$58134.5%
Assets ($M)$185,306
Total Stockholder Equity ($M)$15,095
Profit Ratios
Profit as % of Revenues1.4%
Profits as % of Assets0.3%
Profits as % of Stockholder Equity3.8%