Financial-Services Sales Gave Nationwide A Boost In 2015
February 11, 2016 by Mark Williams
Nationwide said today that its net operating profit rose 9 percent in 2015, helped by a strong increase in sales of its financial-services products.
The insurer reported net operating income of $1.2 billion last year, up from $1.1 billion in 2014.
Nearly all of the operating income came from Nationwide’s financial-services operation, whose sales rose 14 percent last year to $23.7 billion.
Nationwide noted strong sales in life insurance, annuity products and retirement plans.
Premiums from Nationwide’s property-and-casualty business rose 4 percent in 2015 to $19.2 billion, driven by increases in all of its product lines.
Nationwide paid out $16.1 billion in claims and other benefits last year, up from $15.5 billion in 2014.