Financial decisions
that lead to growth

Venture capital funding increased to $350 million

Recognizing the opportunity to double down on our venture investing efforts, we expanded our venture capital funding to $350 million in 2021.

The venture capital funding initiative began in 2015 with the formation of the Ventures team. In 2017, we announced the creation of a $100 million venture capital fund, focusing its investments on insurtech and fintech startups that support thematic areas that will benefit Nationwide customers, including:

Insurance infrastructure
Property technology
Living in retirement
Future of work
Future of mobility
Agriculture technology

The team made a total of 15 investments in 2021, seven new and eight follow-on investments. Some notable organizations that have benefited from Nationwide venture capital fundings in 2021 include:

Beam Dental
Health Gorilla
Tech startups interested in partnering with Nationwide can visit our Ventures page for more information.

Private Client transfer team creates niche in high net worth segment

Insurance carriers and agencies increasingly see value in policy transfers. A transfer allows an agency or insurance carrier to move blocks of policies that may not be core to their business strategy to another firm, helping them concentrate on their core business.

Nationwide Private Client has carved out a niche in this space, acquiring transfers in the unique high net worth segment. By creating a dedicated team of centralized associates who have affluent personal lines transfer experience and can quickly and efficiently turn around quotes, our team issued more than $1.5 million in transfer business in 2021 and has $14 million in committed transfers in the pipeline.

Policy transfers can truly be a win for everyone. A transfer allows the policyholder to continue receiving uninterrupted coverage, while providing other carriers and agencies with a solution that helps them redirect their resources to more closely align with their business strategy. Transfers also provide incremental growth for Nationwide without the additional costs of an acquisition.

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Our businesses delivered competitive products, provided new and profitable solutions to our markets, and drove further alignment with the needs of our partners and members. Most importantly, we were there when our members needed us most.

Tim Frommeyer
Executive Vice President and Chief Financial Officer