Financial growth

Financial decisions
creating opportunities

Addressing rising health insurance costs

As employers grapple with escalating health care expenses, a growing number are turning to self-funding their health plans and protecting their business with medical stop loss coverage. According to the Clevenger MyHealthGuide, the stop loss market has grown from $8 billion of annual premium at the close of 2010 to nearly $32 billion at the end of 2022.

Nationwide has been a leader in the stop loss space for 20 years, thanks to strong partnerships with our managing general underwriters (MGUs). An example of this is Nationwide Specialty Insurance’s largest stop loss MGU deepening its relationship with Nationwide after it was acquired by a leading international specialty insurance firm and key Nationwide partner in the Excess & Surplus space. Together, we will work to help both partners achieve their collective goal of developing comprehensive, integrated health solutions, providing brokers with a "one-stop shop" for self-insurance needs and accelerating the employee benefits industry’s innovation rate. With all of our market-leading MGU partner companies, Nationwide is well positioned to continue its growth in this business and serve many more employers.

Helping participants prepare for retirement

Employers have many choices in how they can offer retirement benefits. In a tight labor market, good benefits can be a tool for attracting and retaining employees.

As an industry leader in offering the solutions and extraordinary care that help more of America’s workers prepare for and live in retirement, Nationwide’s retirement solutions business has continued to invest in customer service and new products.

In 2023, the retirement solutions business continued its streak by marking 10 full years of winning top honors for the Plan Participant Service Award from industry auditing and ranking firm DALBAR. This award reflects multiple customer touchpoints, including telephone, web and mobile app services.

Meeting needs in an uncertain market

With the recent shift toward increased market volatility and higher inflation, individuals are seeking options that ensure growth while safeguarding against the risk of outliving their savings. In 2022, industry sales of registered index-linked annuities (RILAs) topped $41 billion, up from $1.9 billion in 2014, according to LIMRA’s Secure Retirement Institute.

Nationwide’s annuity business offers a broad range of solutions to address this need. To align with the demand for personalized growth potential and investment protection in today’s volatile market, Nationwide introduced Nationwide Defender℠, a new buffer RILA, in 2023. This solution reflects our commitment to providing investors with the means to navigate the complexities of the current financial environment.