Insurer Nationwide finished 2025 with net operating income up 37% compared with 2024, to $4.3 billion as total sales and premiums were up 7% to a record $73.2 billion.
The Columbus, Ohio-based mutual insurance company—entering its 100th year of operation in 2026—released its 2025 operating results late last week.
During a year marked by wildfires and severe convective storms, Nationwide said it paid more than $20.2 billion in claims and benefits to policyholders in 2025. Nationwide completed its buy of Allstate Benefits’ group health business for $1.25 billion in July 2025. The move expanded the company’s ability to sell stop loss insurance—which protects employers who self-fund health insurance plans from excess losses—to small businesses.
Nationwide said Nationwide Financial recorded its highest levels of sales and earnings in 2025.
Total adjusted capital rose to $32.8 billion, the highest level ever.
“Our capital position reflects strong performance and disciplined use of capital across our business portfolio,” CFO Tim Frommeyer said in a statement. “All of our business lines delivered strong earnings, driving further diversification across our portfolio and fueling significant benefit to our capital position.”
To bolster its “predict and prevent” strategy, Nationwide said it expanded programs to detect and alert homeowners and commercial insurance policyholders of loss. It’s Ting electrical system monitoring LeakBot water leak detectors help homeowners. Commercial and agribusiness customers are assisted by solution like continuous motor vehicle record monitoring, equipment tracking, and cyber safety tools.
The report also highlighted emerging risks already visible in claims data from the past years.
From 2021 to 2025, commercial auto claims involving gig-related workers rose 96%, rising to 10% of all commercial auto claims.
Over the same period, the number of claims related to silica dust (cancer-causing substances) rose from just over 100 claims to roughly 2,000 claims.
Additionally, the popularity of e-bikes has led to a rise in claims involving battery related fire risks and rider injuries. The number of claims involving e-bikes quadrupled from roughly 1,000 claims in 2021 to more than 4,000 claims in 2025, the report found.
“Claims data is often the earliest signal of how risk is changing,” said Shane Riedman, president, anti-fraud analytics, at Verisk. “Even as overall volumes declined in 2025, the underlying loss patterns tell a very different story. This report analyzes claims activity at scale, and can help insurers better gauge risk, anticipate emerging risks, identify subrogation opportunities and make smarter decisions for the year ahead.”
