Nationwide Financial expands market focus in its corporate life insurance business
Nationwide Business Solutions Group (NBSG) to serve small, mid and large-case customers
FOR IMMEDIATE RELEASE
April 18, 2011
Contacts:
Chad Green (614) 677-1679
greenc28@nationwide.com
Jeff Whetzel (614) 249-6354
whetzej@nationwide.com
Columbus, OH— Nationwide Financial Services, Inc. has expanded its corporate life insurance offerings to include solutions for small business customers while continuing to serve traditional mid- to large-case customers. To reflect this expanded focus, Nationwide has changed the name of its corporate life insurance business from Corporate Insurance Markets to Nationwide Business Solutions Group (NBSG).
Corporate life insurance has been a strategic focus for Nationwide since 1997 and the company has established itself as a leader in the industry.
“We’re proud of the position we’ve achieved in the corporate life insurance marketplace and are always looking for opportunities to grow this important segment of our business,” said Peter Golato, senior vice president for Nationwide Financial. “We’ve identified some unique challenges that small businesses face and believe that our market-leading expertise will enable us to provide the products and support they’re looking for in today’s economic environment.”
As part of Nationwide’s expanded focus, the company plans to increase both its product offerings and service capabilities in 2011 to serve a broader group of corporate life insurance customers than ever before. New product offerings will include Universal Life and Variable Universal Life products specifically designed for the business consumer.
“Our vision is to be the premier provider of financial solutions for businesses and key contributors within those businesses,” said April VanDervort, vice president for Nationwide Financial and leader of the NBSG team. “Our specialized team advocates for customers by delivering On Your Side service, as well as competitive products and solutions based on the unique needs of each business and the advisors who serve that business.”
As situations change so will the corporation’s business and life insurance needs. Care should be taken to ensure these strategies and products are suitable for the corporation’s long-term goals. Weigh the corporation’s objectives, time horizon and risk tolerance as well as any associated costs before investing. Also, be aware that market volatility can lead to the possibility of the need for additional premium in the policy. Variable life insurance has fees and charges associated with it which include costs of insurance, underlying fund expenses and administration fees.
About Nationwide
Nationwide, based in Columbus, Ohio, is one of the largest and strongest
diversified insurance and financial services organizations in the U.S.
and is rated A+ by A.M. Best. The company provides a full range of
personalized insurance and financial services, including auto insurance,
motorcycle, boat, homeowners, life insurance, farm, commercial
insurance, administrative services, annuities, mortgages, mutual funds,
pensions, long-term savings plans and health and productivity services.
For more information, visit www.nationwide.com.
Life insurance is issued by Nationwide Life Insurance Company or Nationwide Life and Annuity Insurance Company, Columbus, Ohio.
Nationwide, Nationwide Financial, the Nationwide framemark, Nationwide YourLife and On Your Side are service marks of Nationwide Mutual Insurance Company.
