MAR. 16, 2020
Nationwide’s consistent track record
Nationwide is strong, stable and committed to keeping our commitments, as we have for almost 100 years. We have a long history of disciplined investing and prudent decision-making and have navigated similar market challenges.
We are built to handle moments like these. Our consistently high ratings by A.M. Best, Moody’s and Standard & Poor’s demonstrate our ability to withstand changes in the market and remain financially strong. Our portfolio consists of a broad range of quality investments in various types of securities spread across industries, geographies, and markets – ensuring we have the capital and liquidity to fulfill our financial obligations and keep the commitments we make now and in the future.
Our investment management team will continue to monitor and share timely perspectives on the markets to help you have productive conversations with your clients about what they’re reading in the headlines on the Advisor Advocate blog.
To ensure that we continue to protect our partners and members with extraordinary care, we continue to actively monitor the latest updates from the Centers for Disease Control (CDC) and public health departments. We are taking all necessary precautionary actions, initiating our business continuity plans, and continually testing our systems and capabilities.
We’re focused on the health and safety of our employees, their families and communities—and on your health and safety as well. This is why Nationwide suspended all international business travel through April 1, 2020 and asked associates to adhere to newly revised guidelines for domestic travel and business-related meetings. In the coming weeks, your Nationwide representative may suggest alternative meeting options such as videoconference, virtual meetings or conference calls.
In addition, Nationwide made the decision to move to a complete companywide work from home policy by Monday, March 23, to help our communities slow the spread of the virus by increasing social distancing in our home office and larger regional campuses. At the same time, we remain committed to maintaining all critical business operations to support you and your clients. While we don’t anticipate any negative business impact, our business continuity plans continue to ensure the highest levels of service and performance, including customer, technology and geographic needs that are critical for your success. We will continue to be responsive and responsible, operating in everyone’s best interest.
Committed to delivering on our commitments
Nationwide remains strongly committed to serving your client’s important financial needs, through a range of annuities that provide guaranteed features and benefits, to ensure your clients have the downside protection and income for life they require in these uncertain times1.
We are dedicated to offering the greatest consumer value at the most competitive rates that economic conditions can support, while still delivering on the long-term commitments we’ve made to you and your clients. Carefully managing our diverse portfolio of products has enabled us to consistently honor our commitments, even in times of economic disruption.
Given the sustained record-low interest rate environment, which puts intense pressure on all insurers, it has been necessary to adjust the availability of some annuity products currently offered. We will continue to evaluate and adjust our products as needed through our prudent management process.
We understand your clients’ concerns about the impact of recent market volatility on their investments and retirement savings. We are committed to providing support, education and resources to help you and your clients navigate this uncertainty and make important financial decisions.
Especially during an unpredictable environment like we’re experiencing now, our promise is to be transparent and timely in providing you with information. This may mean increased communications about impacts to pricing and products. Please reach out to your National Account Manager any time you have questions.
Thank you for your partnership. We will continue to keep you updated as we navigate this environment together.