Nationwide says its 2013 second-quarter net income was $657 million, a considerable turnaround from 2012's second-quarter net loss of $122 million.
The Columbus, Ohio-based insurer benefitted from a reduction in weather-related claims as $547 million in net realized investment gains, compared to a loss of $89 million in last year's second quarter.
Chief Financial Officer Mark Thresher points out to PC360 that, beyond lower weather losses, the insurer saw improvements in general profitability. He notes that non-weather losses also decreased, and added that commercial-lines business has been “growing nicely for us,” as the company continues to get rate as well as exposure growth in that area.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
