Monday, November 8, 2010

Nationwide's combined operating profits beat 2009 levels

Nationwide Mutual Insurance Co. said operating profits from its property-casualty and life insurance operations improved during the third quarter, but expenses from other non-core businesses lowered total profits below levels a year ago.

The Columbus, Ohio, insurer owns Des Moines-based Allied Insurance.

Nationwide's operating profits for the three months were $236 million, down from $304 million a year earlier. Net income, which includes certain investment losses and gains, was $85 million, compared with $208 million in 2009.

http://www.desmoinesregister.com/article/20101106/BUSINESS/11060320/1029/Nationwide-s-combined-operating-profits-beat-2009-levels

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While AIG races to pay back the US Fed and Treasury, other insurance companies are having a good time profits wise. Maybe people are realising insurance is worth forking out for in this climate, not matter what the individual budgetary constraints.

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