Nationwide Insurance has reported its third quarter financial results for this year. The report details a turbulent third quarter, which has been wracked by severe storms and other natural disasters along with costly investment mishaps. Overall, the report shows that the insurer has lost billions in investments and millions in claims relating to storm damage. While Nationwide has an optimistic outlook for the remainder of the fiscal year, there can be no doubt that recent events will encourage changes to be made to the company’s policies. Nationwide reports that its…
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Nationwide posts first quarter profits for 2011, says major storm cut into earnings
Nationwide Mutual Insurance Co. has released their earnings for the first half of 2011. The acclaimed insurance company posted profits just shy of $400 million, a marked decline from last year in which the company earned over a billion. Profit diminished by 48% in just the first quarter, a fact the insurer is quick to blame on the violent storms and other natural disasters wreaking havoc earlier this year. The company has also released its earnings for the second quarter, reporting further losses due to weather related issues. The previous…
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