Nationwide shows first quarter earnings, ready to fill 1400 positions IFAwebnews.com
The insurers said its first quarter 2010 results reflect “a significant recovery” in equity and credit market conditions from a year ago, when its results reflected higher impairments on investments, driving higher losses.
Nationwide’s net operating income for the first quarter was $423 million, up from $164 million during the same period in 2009. Included in operating results is more than $2.8 billion returned to policyholders through property-casualty claims, life insurance benefits, credited interest, and other accident and health benefits, the company said in a statement.
Steve Rasmusen, Nationwide’s chief executive officer, said in a statement that the insurer’s first quarter performance “clearly highlights continued momentum across our businesses, and reflects the strength and diversity of our insurance and financial services franchise.
“Nationwide’s mutual ownership structure allows us to more effectively align our business with meeting the needs of our policyholders,” he said. “Our mutual structure, strong capital position, engaged workforce, and relentless focus on delivering a personalized customer experience make it an exciting time to be part of Nationwide.”