Nationwide Mutual Insurance Co. is celebrating its fifth consecutive year of record-breaking sales as it marks its centennial.
Even amid the past year’s economic uncertainty and environmental disasters, the Columbus, Ohio-based insurance giant ― which ranks as the Des Moines metro’s ninth-largest employer, with some 3,300 workers ― raked in $73.2 billion in sales and premiums, up 7% from 2024’s $68.5 billion.
In an interview with the Columbus Dispatch, CEO Kirt Walker attributed the growth to the company’s “intentional, diverse portfolio” of coverage, including home and auto, businesses and farms, life insurance and retirement plans.
Nationwide’s private ownership has been vital to that diversity, said Tim Frommeyer, Nationwide’s chief financial officer. Not being publicly traded means more independence and more room to “venture into other areas,” Frommeyer said.
That has been key to Nationwide delivering for its customers, Walker said, adding that in 2025, Nationwide had nearly $33 billion in adjusted capital “to keep the promises that we make.” The company paid out over $20 billion in claims and benefits last year.
Having an iconic brand with a jingle many consumers can hum on cue doesn’t hurt either.
“At the end of the day, it’s about listening to what the customer wants because that’s what we exist for,” Walker said.
Entering its 100th year strong
Only 0.5% of companies in the United States make it to a century of business, so Nationwide’s achievement is rare, Walker said. He added that more achievements lie ahead.
Last year marked several big moves for Nationwide. It acquired Allstate Benefits’ health group in July and created new programs: CareMatters for long-term care coverage alongside life insurance plans and RetireAssist, a more customizable suite of retirement plans.
To help customers recover from significant damage in their homes, Nationwide introduced monitoring devices for electric and water utilities. It also announced a $1.5 billion technology investment through 2028, $100 million of which will be dedicated to advancing artificial intelligence.
Walker said that by the end of the year, the company wants 90% of its more than 21,000 employees to be using AI, whether they work in the office or at home.
All did not go smoothly in 2025, as Nationwide faced legal problems. In December, it settled a class action lawsuit over alleged unlawful and unsolicited prerecorded voice messages to customers, and in June, it also was sued for dropping 100,000 pet policies, citing the rising costs of veterinary care. The move, the lawsuit alleged, amounted to a “bait-and-switch” of luring customers on the promise that policies would never be canceled due to a pet’s age. The case was dismissed in November.
But Nationwide anticipates positive momentum in 2026 and beyond. Walker said much of what it did in 2025 is laying the groundwork for the hopefully next century of business operations.
The company is in the process of converting one of its downtown Columbus skyscrapers from office space to residential use. It also has cut costs by shrinking its Des Moines office space, selling a 372,000-square-foot downtown building at 1200 Locust St. to the city, which moved City Hall and other offices there earlier this year. The deal included a parking garage.
Despite many large companies calling their employees back into the office full time, Walker said Nationwide isn’t planning to anytime soon.
“As long as we can accomplish our goals, we’re gonna support our customers, we’re gonna allow associates to do that,” he said.
Editor’s Note: This story has been updated to clarify the status of a pet insurance-related lawsuit against Nationwide and its financial record for the past year.
Business and consumer issues reporter Samantha Hendrickson can be reached at shendrickson@dispatch.com.
This article originally appeared on The Columbus Dispatch: Nationwide goes into 100th year with record-breaking sales, AI plans
Reporting by Samantha Hendrickson, Columbus Dispatch / The Columbus Dispatch
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