Nationwide Fin Services (NFS)

With assets of $112.6 billion, Nationwide Financial Services (NFS) provides life and annuity products. The company became a public entity in 1997 post IPO by Nationwide Mutual Insurance, which owns approximately two-thirds of NFS' common shares. In 2002, Nationwide Financial bought Provident Mutual Life Insurance, which is now known as Nationwide Provident, and sold its interest in Gartmore Global Investors and in Nationwide Securities to Nationwide Mutual.

Nationwide Financial is among the 10 largest providers of long-term savings and retirement products in the U.S., according to A.M. Best Company, based on premium. The company develops and sells a diverse range of products, including individual annuities, private and public group retirement plans, life insurance, and advisory services.

Nationwide organizes its operations into four segments:

Individual Investments (31.4% of FY07 operating revenues 32.4% of FY07 pretax operating earnings [PTOE]) -- The Individual Investments segment consists of the BEST of AMERICA, NFN and private label variable and fixed annuity products. Consistently the company has ranked among the largest writers of individual variable annuities in the U.S., according to the Variable Annuity Research and Data service.

Retirement Plans (24.5% of FY07 operating revenues 27.2% of FY07 PTOE) -- This division includes public (403b and 457) and private sector (401K) pension plans business.

Individual Protection (28.8% of FY07 operating revenues 32.3% of FY07 PTOE) -- This segment consists of investment life insurance products, including individual variable, corporate-owned and bank-owned life insurance products, traditional and universal life insurance products.

Corporate and Other (15.3% of FY07 operating revenues 8.0% of FY07 PTOE) -- This segment includes retail operations of Nationwide Bank, the structured products business and net investment income not allocated elsewhere and the MTN program.

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