Reinsurance News
Nationwide
Nationwide’s fire and water loss prevention program reaches milestone
18th April 2024
Nationwide’s Ting program has reached a 50,000 home milestone demonstrating a positive impact on engagement and prevention to reduce fire and water loss risk, the insurance services company has stated. The Ting program was launched in 2022 in partnership with Whisker Labs and Hartford Steam Boiler. With its prevention technology, it ... Read the full article
Nationwide scores record sales, as rates and underwriting drive strong Q4’23
25th March 2024
Columbus-domiciled Nationwide, a diversified financial services and insurance company in the United States, has achieved record-level sales for the third consecutive year in a row. The insurer stated that significant rate and underwriting actions drove a strong Q4 2023 and will accelerate the company’s performance into 2024. The record sales in 2023 ... Read the full article
Nationwide Ventures deepens partnership with CLARA Analytics through investment
22nd February 2024
Nationwide Ventures, the investment arm of the renowned insurance and financial services company, has made a significant investment in CLARA, further solidifying their bond. This investment stems from Nationwide's $350 million investment fund and marks a pivotal moment in the evolution of their relationship. CLARA Analytics, a leading provider of AI-driven solutions ... Read the full article
Moody’s downgrades Nationwide P&C financial strength
13th November 2023
Moody’s has downgraded the Nationwide Mutual Insurance Company (NMIC) and its property & casualty affiliates, Nationwide P&C, insurance financial strength rating to A2 from A1, and downgraded NMIC’s surplus notes rating to Baa1 (hyb) from A3 (hyb). The rating agency has also affirmed the insurance financial strength ratings of Nationwide Life ... Read the full article
Nationwide to go through re-underwriting initiatives to further improve its book
13th June 2023
The specific business actions U.S. insurer Nationwide is taking as it looks to address current issues impacting the insurance industry, includes some re-underwriting initiatives within its small commercial and personal lines portfolios, as the carrier works to improve its book overall. We wrote yesterday that Nationwide was the latest U.S. ... Read the full article
Nationwide taking action to mitigate risk in personal and commercial lines portfolios
12th June 2023
Large U.S. insurer Nationwide Mutual Insurance has announced that it is taking "specific business actions" in an effort to mitigate risk and manage its personal and commercial lines portfolios, citing the economic landscape, inflation, and catastrophic weather events. The insurer notes that these actions are impacting the entire insurance industry, and ... Read the full article
Kevin Strong named new N2G CEO
11th April 2023
N2G Worldwide Insurance Services, LLC has hired Kevin Strong, former Head of Multinational Business of The Hartford, as its new CEO, replacing retiring Bill Skapof, who led N2G since its foundation in 2020. Strong has over two decades of industry experience, having most recently served as Head of Multinational at The ... Read the full article
Nationwide names Hespe Head of Underwriting Performance for E&S/Specialty
17th August 2022
Ohio-based insurer Nationwide has appointed Julie Hespe as the head of Underwriting Performance for the company’s Excess & Surplus/Specialty team. Hespe’s team - the Underwriting & Product Performance Center of Excellence, will have a direct focus on portfolio profitability, underwriting governance and best practices, product management strategy, regulatory compliance and performance. Hespe ... Read the full article
Ryan Specialty and Nationwide partner to support specialty insurance marketplace
26th April 2022
International specialty insurance firm, Ryan Specialty has announced a new strategic arrangement with US based Nationwide to support innovation and address needs in the specialty insurance marketplace. Both companies remain parties to a joint venture first entered into in May 2019, that established Bermuda-based reinsurer – Geneve Re Ltd. This new ... Read the full article
Nationwide names Tim Frommeyer as CFO
23rd June 2021
Ohio-based insurer Nationwide has appointed Tim Frommeyer as Chief Financial Officer (CFO) and also added him to the Nationwide executive leadership team. Frommeyer joined Nationwide 1986 and has held multiple senior positions including chief actuary for financial services, CFO for that organisation, and most recently as CFO for both financial services ... Read the full article
Nationwide completes transition to independent agency model
1st July 2020
Ohio-based insurer Nationwide has completed its 18-month transition to operate as a fully independent agency carrier. More than 99% of the company’s formerly captive agents will transition to Nationwide’s independent agency channel and continue partnering with the company. “Despite the challenges associated with the COVID-19 crisis, we’ve made tremendous progress in transforming ... Read the full article
Nationwide to permanently transition to hybrid (office/remote) operating model
30th April 2020
Ohio-based insurer Nationwide has revealed plans to permanently transition to a new hybrid operating model, which includes primarily working-from-office in four main corporate campuses and working-from-home in the majority of other locations. Like many other businesses in many parts of the world, in mid-March, Nationwide moved to a work-from-home business model ... Read the full article
Falvey expands capacity via Nationwide partnership
6th April 2020
Falvey Cargo Underwriting and Falvey Shippers Insurance have expanded capacity by partnering with Nationwide Mutual Insurance Company (Nationwide). The partnership will allow Falvey to continue to increase its capacity while providing flexible cargo solutions. All new accounts underwritten April 1, 2020 forward, will be quoted including Falvey's Nationwide facility. In addition, Nationwide will ... Read the full article
Nationwide, Generali announce joint venture
26th February 2020
US-based insurance and financial services provider Nationwide is partnering with Generali on a joint venture aimed at supporting multinational solutions for international commercial clients. N2G Worldwide Insurance Services, LLC will exclusively promote, distribute and administer insurance solutions for multi-national exposures on behalf of both organisations. Business to N2G will be sourced through ... Read the full article
State Farm & Berkshire maintain status as top US P&C insurers
24th October 2019
State Farm and Berkshire Hathaway Specialty Insurance maintained their spots as the largest and second-largest U.S. Property and Casualty (P&C) writers in 2018, respectively, while Chubb INA Group entered the top ten. This is according to the Reinsurance News directory of the Top 100 U.S. P&C ... Read the full article