Nationwide 5th largest insurance co. on Fortune 500 (2024)

The annual Fortune 500 list is out. Nationwide moved up eight spots to #75 on the prestigious list. And—as one of the largest providers of financial services and insurance in the U.S.—the company officially ranks as the 5^th largest insurance company on this year’s list.

"We’re proud of how we show up on this coveted list as we continue to experience record growth which is a testament to the quality and diversity of our product offerings, distribution reach and partnership,” said Tim Frommeyer, Nationwide's Chief Financial Officer. "We want to congratulate our talented team of associates and partners for this great progress as we strive to help protect people, businesses and futures with extraordinary care."

When compared to other organizations on this year's list, Nationwide as a whole is:

• The second largest Columbus, Ohio-based company
• The largest company with an operating presence in Des Moines, Iowa
• 6th largest company in Ohio
• 2nd largest mutual insurance company in the United States
• 5th largest insurance company (including stock companies)*

"Each year the Fortune 500 list tells the incredible story of American business, from tough times to fantastic heights, always based on facts and research, and surrounded by Fortune's outstanding journalism and amazing stories about the business world," said Anastasia Nyrkovskaya, Fortune's Chief Executive Officer in a press release. "We will continue to bring the Fortune 500 to our expanding audience, and in new and dynamic ways in the years ahead."

For more information on the Fortune 500 list for 2024 click here.

Why is certain Fortune data different from what the company reports in its annual report?

There are a variety of financial data and metrics that are used by the Board, management and regulators to measure financial performance and financial stability of companies. The information presented in Nationwide's annual report is prepared in accordance withGenerally Accepted Accounting Principles(GAAP), which forms the basis used by all companies when reporting earnings performance to investors and widely discussed by news outlets. The data reported by Fortune is based on regulatory statutory accounting principles, which embed a high degree of conservatism as its core principles. The primary purpose of the regulatory framework is to assess solvency and capital adequacy that ensure a company’s ability to meet its policyholder obligations.

*Does not include Berkshire Hathaway