Nationwide 2024 Operating Results

Nationwide announces fourth straight year of record sales 

• Member claims and other benefits total nearly $21 billion in 2024 
• Nationwide Foundation contributed nearly $34 million to nonprofits; Nationwide Mutual company and employees fund more than $13 million in additional donations 

Today, Nationwide, a Columbus-based financial services and insurance company, released its 2024 operating results, sharing that sales are up more than $8 billion over record sales in 2023. Leadership points to the company’s modern mutual structure, focus on protection and intentionally diverse portfolio as drivers of its growth, strength and stability. 

Chief Executive Officer Kirt Walker shared the following comments about the company’s business performance and positive community impact. 
“At Nationwide, we consider ourselves a modern mutual. This structure helps us take a longer-term view while focusing on our customers today, allowing us to provide nearly $21 billion in claims and other benefits to customers in 2024. This combined with our intentionally diverse portfolio and distribution relationships enables us to deliver on broader protection needs and remain strong and stable, ensuring that we are here to keep our promises.” 

“Nationwide’s iconic, trusted brand and reputation strengthens our relationships with the customers we serve, the intermediaries and firm partners who recommend and sell products and solutions, and the people who count on us to protect what matters most.” 

“We’re very proud of our high-performing, caring culture. This gives us the ability to deliver for our customers while also supporting the communities where we live and work. In 2024, the Nationwide Foundation contributed nearly $34 million to nonprofits. Nationwide Mutual and our employees donated more than $13 million in additional giving. These contributions are core to our beliefs and company values.” 

2024 Financial highlights include: 

• $20.7 billion to support claims and benefits to customers in 2024. 
• Charitable contributions included: 
     - Nearly $34 million from The Nationwide Foundation – the 501(c)(3) private foundation to which Nationwide is the primary donor;
     - More than $13 million of additional contributions from Nationwide Mutual company and employees;
     - And Nationwide employees across the country dedicated 72,000 hours to volunteerism.
• $28.3 billion in total adjusted capital, a 13% increase over 2023 and 35% increase compared to 2020.
• $68.5 billion in sales for 2024, significantly surpassing $60.5 billion in 2023 and up 47% ($21.9 billion) over 2020.
• $3.2 billion in net operating income in 2024, a 295% increase since 2020. 

Executive Vice President and Chief Financial Officer Tim Frommeyer shared the following about Nationwide’s operating results and mutual structure: 
“Being a modern mutual brings to bear the advantages of both public and private companies. It enables a broad portfolio of businesses, ensures a discipline that consistently achieves expectations, and maintains significant levels of capital.” 

“This, combined with Nationwide’s favorable position in our industries, is driving unprecedented demand for our solutions and partnerships. These partnerships are the foundation for extending our reach with intentionality, scale and profitability. Our highly sophisticated risk management practices and distribution reach drove strong financial results. We are taking Nationwide to the next level and ensuring that our promises of care and protection are as relevant in the future as they are today.” 

Additional information about Nationwide’s business results and community impact can be found in Nationwide’s 2024 Annual Report.