The similarities today between Nationwide Insurance
Co. and its predecessor, the Farm Bureau Mutual Automobile Insurance
Co., probably wouldn't fill more than a line or two of its most
streamlined, one-vehicle protection policy.
The most noticeable probably is that the company
is still headquartered in downtown Columbus--although for a few
years it was just outside of what is considered the central business
district--where its complex of buildings at Nationwide Plaza stands
as the bulwark of the city's ever-changing Arena and Short North
districts.
The company, quite obviously, remains well entrenched
in the insurance business as the 30th largest insurance and financial
services company in the world with more than $117 billion in statutory
assets.
Recently, however, the company's interests moved
into the world of entertainment with construction of such venues
as Nationwide Arena, the Arena Grand Theatre, and the PromoWest
Pavilion, all within a stone's throw of its corporate headquarters.
The arena, which opened in September 2000, is
the home of the National Hockey League's newest team, the Columbus
Blue Jackets, the National Lacrosse League's Columbus Landsharks,
and a wide variety of world-class entertainment events. The company
announced construction of the arena in 1997, just days after voters
rejected a tax issue to provide a facility that would usher a
major league sports program into the city.
Nationwide also has a strong track record for
supporting organizations within its communities, including United
Way, Habit for Humanity, the United Negro College Fund, The Ohio
State University, the National Association of Hispanic Real Estate
Professionals, Columbus's Adopt-A-School Program, Hispanic Scholarship
Fund, Inroads, and the Central Ohio IFMA Chapter.
Not only does Nationwide support the chapter
as a sponsor, three employees of the company--Craig Thomas, Gary
Nuss, and Shelly Sensenbrenner--are extremely active members of
the organization.
Thomas is vice president of facility services
for the company. He and a force of 380 people are responsible
for managing all corporate-occupied property, a 5,000 automobile
fleet, and security at the Nationwide complex and at many of the
company's other holdings. Nuss, a past chapter president, is a
senior project manager for Nationwide Realty Investors, and Sensenbrenner,
a co-chair of the Membership Committee, is a design and architecture
specialist in facility services.
The Ohio Farm Bureau Federation founded the company
in 1925 because Farm Bureau leaders believed established insurers
were overcharging farmers for insurance. The company began in
a one-room office in downtown Columbus with a $10,000 loan, three
employees, and 20 part-time agents.
Today, the company has more than 30,000 employees
with approximately 16 million policies in force.
At the outset, the company offered only one product,
auto insurance, and only to Ohio farmers. However, the company
became so successful in providing quality auto insurance at low
rates that rural drivers in other states became interested in
what it had to offer, leading to expansion into West Virginia,
Maryland, Delaware, Vermont, and North Carolina.
Today, Nationwide does business in all 50 states,
the District of Columbia, Canada, and the Virgin Islands. Internationally,
Nationwide sells life and long-term savings products in Asia,
Europe, and Latin America. The company also is:
· Fourth largest homeowner insurer based
on premiums written.
· Sixth largest auto insurer based on premiums written.
· Sixth largest personal lines insurer based on premiums
written.
· Largest provider of 457 deferred compensation plans.
· Largest writer of corporate-owned life insurance.
· Third largest writer of individual variable annuities.
· Third largest administrator of 401 (k) plans.
· Fifth largest provider of variable universal life.
· Sixth largest U.S. life insurer based on assets.
Nationwide moved into its current headquarters,
a 40-story structure that is the largest single office building
in Central Ohio, in 1978. The Nationwide complex now includes
Two Nationwide Plaza, an 18-story building, with tenant space,
that was completed in 1981; Three Nationwide Plaza, a 27-story
building completed in 1989 for use by Nationwide; and Four Nationwide
Plaza, a nine-story building completed in 2000. Combined, the
buildings have more than 2.6 million square feet of space. The
company also has properties in several suburban areas as well
as in cities throughout the country.
Construction of the headquarters building initiated
the revitalization of Columbus' once-blighted Short North District
and has paved the way for more than $700 million in construction
in that area. The same is occurring in the Arena District where
new buildings and business opportunities are occurring almost
daily.
Throughout its existence, Farm Bureau Mutual/Nationwide
has been blessed with outstanding leadership from which both the
company and Columbus have prospered.
The legendary Murray Lincoln, one of the company's
founders, headed its operations for the first 38 years. A visionary
leader, he pushed Nationwide's growth and expansion into diversified
fields while serving as a national spokesman for the cooperative
movement. Bowman Doss succeeded Lincoln in 1964.
Following Doss (1964-69) were George H. Dunlap
(1969-72), Dean W. Jeffers (1972-81), John E. Fisher (1981-92),
and Dimon R. McFerson, (1992-2000.) Today, W.G. Jurgensen, a former
executive vice president of Bank One Corporation, heads the company
which continues to attest: "Nationwide is on your side."

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