1. Nationwide is on your side.
for our Customers
for our Partners
for our Stakeholders
for our Future
2002 Annual Report

2. “Nationwide is on your side.”
It’s short and simple. It even rhymes. Perhaps that’s why our slogan has become one of the best known in
corporate America.
Message
More importantly, being on your side is what we do. It is an attitude that defines our businesses and guides
our every action.
from the
We are on the side of our customers, providing them with products and services that make it possible to
own homes, drive cars, start businesses, protect families, and plan for the future. The breadth of our
Chief
offerings is designed to meet life’s most important needs, from auto insurance to retirement savings
plans.
Executive
We are on the side of the professionals who sell our products and services, and provide the advice our
Officer
customers need to make educated choices. For Nationwide to earn distinction as their preferred
partner, our companies must provide the most valuable solutions and the highest level of support
possible. And so every day we strive to be the best partner for the more than 31,000 agents who
work with us, as well as thousands of additional partners in our vast financial services distribution
network.
We are also on the side of our stakeholders who rely on Nationwide to deliver on its promises. Nationwide’s
more than 30,000 associates take our heritage as a strong customer advocate and a responsible
corporate citizen very seriously. We understand that building our financial strength allows us to
deliver on our promises to our customers and to continue our philanthropic commitments to those
members of our communities who are in need.
In 2002, we strengthened Nationwide’s financial foundation. Statutory net income improved from a net loss
of $295 million in 2001 to a net gain of $252 million in 2002.
The fundamentals underlying our property and casualty units – Nationwide Insurance, Allied, Scottsdale,
and Farmland – improved markedly. Pricing actions, profitability initiatives, and favorable prior-
year reserve development drove significant improvements in underwriting results. Each unit posted
a trade combined ratio – the amount of losses and expenses paid for each dollar earned – that
was significantly better than the prior year and the industry average. Our largest business unit,
Nationwide Insurance, achieved a combined ratio of 97.3 percent.
Challenging economic conditions, both in the United States and abroad, hampered the performance of
Nationwide Financial, Nationwide Global and Gartmore, as well as our Strategic Investments. It
would be easy to use negative market conditions as an excuse for our performance, but we won’t.
Our pledge to you is that we will improve the performance in these business units. We also realize
that beneficial growth opportunities often reveal themselves during tough times. During 2002, we
seized several such opportunities in our retirement savings businesses, positioning Nationwide to
achieve better sustainable performance going forward.
We improved our market reach and competitive standing in 2002, positioning Nationwide to continue its
legacy of being on your side for the future. We expanded consumer finance offerings to include a
new, 10-minute mortgage program through Nationwide Advantage Mortgage Company. With the
addition of Provident Mutual Life Insurance Company, now called Nationwide Provident, our life and
retirement savings franchise is now the country’s third-largest provider of variable life insurance.
We are a family of companies linked by consistent values and a common heritage of working together with
customers, business partners and stakeholders. “On your side” may have originated as an insurance
company tagline, but it has evolved into a commitment on which our entire enterprise stakes its
reputation.
We thank you for your commitment to Nationwide, and we pledge to remain on your side as you manage a
lifetime of milestone events and changing needs.
W. G. Jurgensen, Chief Executive Officer

3. Nationwide is one of the largest insurance and financial services companies in the world, with more than
$117 billion in statutory assets. Nationwide consists of three core businesses — domestic property and
casualty insurance, life insurance and retirement savings, and asset management. We also are engaged
in strategic investments. By focusing on these core businesses, we remain committed to increasing the
value our customers have come to expect from us.
The Nationwide family includes:
Property and Casualty
Nationwide Insurance
Allied Insurance
Farmland Insurance
Scottsdale Insurance
Life Insurance and Retirement Savings
Nationwide Financial
• Nationwide Retirement Solutions
• Nationwide Provident
• TBG Financial
• The 401(k) Company
Asset Management
Gartmore
• Gartmore Investment Management
• Gartmore Global Investments
Strategic Investments
GatesMcDonald
Nationwide Advantage Mortgage Company
Nationwide Global Holdings
• PanEuroLife
• Nationwide Maritima Vida Previdencia SA
• Nationwide Towarzystwo Ubezpieczen na Zycie SA
• Nationwide Life Assurance Company, Ltd.
Nationwide Realty Investors
Financial Highlights
(Statutory)
For the Year 2002 2001
Direct Written Premiums
Property/Casualty Companies $12.0 billion $10.9 billion
Life Companies $15.0 billion $15.1 billion
Direct Written Premiums Total $27.1 billion $26.0 billion
Net Income (Loss) $252.3 million $(294.9) million
Assets
Property/Casualty Companies $26.9 billion $24.5 billion
Life Companies and other $91.0 billion $89.0 billion
Assets Total $117.9 billion $113.5 billion
Ongoing Property/Casualty Operations Combined Ratio 98.4% 106.5%
Property/Casualty Premium-to-Surplus Ratio 1.72 to 1 1.41 to 1
Customer Funds Managed and Administered $159.6 billion $170.1 billion

4. “Nationwide is on your side.”
for our Customers
With saving and investing, the risk is less conspicuous than storms and flames. But, managing that risk is
For more than 75 years, consumers seeking financial peace of mind have
just as crucial, especially when markets are soft and attractive returns are uncommon. Nationwide
asked Nationwide to be on their side. What began as a small auto
Financial’s commitment to keeping promises made it possible to protect policyholder investments
insurance company for Ohio farmers has grown into a global provider
at guaranteed levels and make promised annuity payouts in 2002, even though original investment
of insurance, retirement and investment solutions. Regardless of our
amounts decreased.
size, Nationwide’s commitment to building individual relationships,
one at a time, has never wavered.
Investors also found dependability in conservative Gartmore products, including its stable value and
asset allocation funds. Of Gartmore’s U.S.-managed funds, more than 70 percent surpassed their
We are there when customers need us most. During 2002, our Nationwide
benchmark’s performance. And in Europe, Gartmore U.K.’s industry-leading hedge funds – an
Insurance unit alone handled more than 2 million claims and
attractive investment alternative to equity markets – once again were recognized with awards for
answered more than 4 million service inquiries. Some consider
their outstanding performance and management expertise.
the majority of reported losses as routine – fender benders, water
damage to homes, and hail damage to property. To our customers,
Being on the side of customers means being accessible, anytime, from anywhere, in any way customers
though, no loss is routine. It’s during those times when Nationwide’s
desire. In most of Nationwide Insurance’s markets, customers can purchase coverage and receive
associates shine most brightly.
service in person at an agency location, over the phone, toll-free at any hour of the day or night,
and via the Internet at a site recognized in 2002 by Gomez Associates as one of the Web’s top two
When fires charred nearly a half-million acres in Arizona last summer,
insurance destinations.
information gathered and posted on the Web by Scottsdale’s
catastrophe team became the official resource for other insurers
Our decision to migrate related farmowners businesses into a single platform makes us more accessible to
in the region. When tornadoes swept through eight states on a
our longest-standing customer segment. By leveraging Farmland’s personnel, Allied’s processing
Sunday evening in November, Nationwide Insurance representatives
system, Nationwide Insurance’s distribution channel and the best coverage features from each unit,
were writing claim checks as the sun rose on Monday. And when a
we can present a superior program and solidify our position as the leading writer of farm insurance in
firestorm consumed a small California farming community in February,
the country.
Allied’s claim team provided the high-quality service customers
expected and a heartfelt gesture many didn’t expect. In more diverse markets, Nationwide now also operates 49 Urban Sales and Service Centers. Sixteen
exclusive agents have taken advantage of corporate loan programs to open offices in urban areas,
Every family that lost its farm received flowers and personal and 10 other agents were awarded grants to establish satellite offices in Latino communities.
condolences – simple, caring deeds that spoke volumes to their Spanish-speaking customers in those areas and elsewhere can receive bilingual claims support from
recipients. the recently created San Antonio Spanish Unit. The center also extends translation services to field
operations and home office.
The expansion of a broad, diversified distribution network continues to be the cornerstone of Nationwide
Financial’s success. The addition of Nationwide Provident gives its parent company something
it never has had – a network of career life agents. Nationwide Financial also built new sales
relationships with top regional CPA firms, through which it plans to market retirement plans, life
insurance and advisory services to small businesses and affluent consumers.
A constantly expanding product portfolio also is critical to building and maintaining customer relationships.
Among the innovations we introduced in 2002 is a distinctive loan service marketed by Nationwide
Advantage Mortgage Company. Emphasizing speed, simplicity and savings, the mortgage service
features competitive rates, vastly reduced fees and paperwork, and free approval decisions in as
little as 10 minutes. Within a month of its July introduction, the company extended nearly 1,000 new
loans worth more than $72 million.
Building on the strength of its U.K. hedge funds, Gartmore launched four U.S.–managed hedge funds in
2002. In addition, the Nationwide Family of Funds was realigned, expanded and renamed Gartmore
Funds. As a result, our investment solutions now have even greater depth and diversity to better
serve our clients’ changing needs.
Nationwide Financial is breaking new ground in the fee-based investment business with The BEST of
AMERICA® Advisory Services Programsm, which includes mutual funds, separately managed accounts
and a no-load variable annuity. Through this program, we serve the need many wealthier consumers
have for professional money management and multiple products packaged into a fee-based managed
account structure.
Whether protecting personal property or planning for long-term financial security, our commitment to be on
the side of our customers remains our guiding force, as we continue to meet their changing financial
and insurance needs.

5. “Nationwide is on your side.”
for our Partners
Nationwide Financial touches customers through a wide variety of distribution points. In addition
Nationwide’s ability to serve customers depends almost entirely on the
to Nationwide Provident and its association with CPA firms, our life and retirement savings
relationships we build and nurture with our business partners.
business is served by independent broker-dealers, wirehouse and regional firms, more than
The people we trust to recommend and represent our various
350 financial institutions, and exclusive Nationwide agents. Nationwide Financial helps its
companies must have confidence in us to provide them with
partner firms and producers grow their businesses by focusing on sales support, relationship
the products, services, sales tools, technology, strategies and
management, innovative solutions and stellar service.
support they need to succeed.
The company’s private sector retirement plan business, guided by the Nationwide Financial Partner
In property and casualty during 2002, we provided agencies with a
of Choice Initiative, will expand the choices offered to Preferred Pension Administrators,
broader array of consumer insurance and financial solutions. By
investment professionals and clients. It will include an additional level of product and service
helping agents cross-sell new products to existing customers,
support.
Nationwide will strengthen relationships with those clients and
improve retention.
Several new Gartmore products equipped existing partners with more options to offer their individual
clients. Also, the company expanded its market presence with the addition of Gartmore
Expanding Nationwide’s market reach and helping business partners
Emerging Managers in March 2002. This new channel is attracting institutional-quality
tap into new revenue sources are other key company growth
investment management expertise that is broadening Gartmore’s product capabilities.
strategies. We offer a number of financial incentives to assist
our exclusive agents in opening new locations and hiring
Within our Strategic Investments area, Nationwide Advantage Mortgage has partnered with America
licensed sales associates. Bringing independent agencies into
West Airlines to launch a mortgage incentive marketing relationship through the carrier’s
the Nationwide family is a key part of our strategy.
frequent flyer program. Our mortgage company continues to reach out to employers and
financial institutions around the country to extend its high-quality service.
Nationwide Insurance also is establishing a presence west of the
Mississippi River, opening exclusive agencies in Portland,
Ore., and Phoenix, Ariz. Concurrently, Allied is expanding
Our business relationships are as varied as the products and services we provide. As we evolve to meet
eastward, establishing relationships with independent agencies
the changing needs of our customers and those of our business partners, one element remains
in Ohio, Georgia and Texas. Some consumers prefer dealing
steadfast, and that is our commitment to being on the side of all our business partners.
with independent agents; some prefer exclusive agents. Being
represented by both in the same market allows us to effectively
reach each customer segment.

6. “Nationwide is on your side.”
for our Stakeholders
An insurance and financial services company is only as good as the promises it keeps In 2002, Gartmore added value for stakeholders through a series of organizational and operational changes.
– to make customers whole after a loss, to protect investors’ hard-earned The sale of Gartmore U.S. from Nationwide Financial to Nationwide Mutual in June helped accelerate
money and to help them achieve above-average returns. Those promises the integration of Gartmore’s U.S. and U.K. asset-management organizations, resulting in a more
are backed by financial stability. Nationwide must grow profitably to ensure efficient corporate structure and advancing the relationship between Gartmore’s global investment
that we will continue to be here, not only for our customers, but also for teams and marketing operations. The company also began taking full advantage of a unified, global
the associates, policyholders, shareholders and communities that benefit trading platform, ensuring clients’ investments can be monitored around the clock.
from our stability.
Nationwide Global continued to enhance operations in 2002 to place a greater focus on European
In 2002, Nationwide continued to make progress to enhance profitability. markets for life insurance, pensions and long-term savings. As part of this decision, the company
headquarters moved to Luxembourg, and we are actively seeking distributors for products in
Three of the company’s four property and casualty business units realized trade
countries throughout the continent.
combined ratios of less than 100 percent. A year earlier, all four had
combined ratios exceeding that level. Farmland showed the most dramatic Our financial strength enables us to do more in our communities. In recent years, through its Community
turnaround, dropping from 123.6 percent to 98.9 percent. The improved Investment Initiative, Nationwide has dedicated more than $250 million toward revitalizing urban
underwriting performance in property and casualty was particularly valuable neighborhoods. These investments foster homeownership opportunities and create safe, affordable
during another year when depressed markets curbed investment earnings and housing for residents living in areas that show promise in establishing stable communities.
depreciated our equity portfolio. Additionally, a $20 million investment with the Local Initiative Support Corporation will encourage
commercial and retail development in more than a dozen U.S. cities. This money offers new
Effective claim management and proactive loss-control efforts through onsite home
opportunities to minority developers, as well as experienced nonprofit organizations.
assessments also contributed to the improvement in property and casualty
results. Company representatives completed nearly 1.8 million Home Care We also are strong believers in the work of the United Way. In spite of a weakened economy, Nationwide
reviews during the past two years, benefiting customers with premium associates, agents and retirees pledged to donate $6.4 million to the United Way in 2002.
adjustments of about $20 million and helping Nationwide avoid an estimated A dollar-for-dollar match by the Nationwide Foundation brought our total company contribution
$160 million in losses. Every remaining home covered by Nationwide to nearly $13 million, the most we’ve ever raised in our 32-year relationship with United Way.
Insurance will be visited by early 2004. All new homeowner insurance This money will be distributed to 615 local United Way agencies across the country.
customers receive a Home Care review, while existing customers will receive
follow-up surveys at five-year intervals.
Our company has a long-standing tradition of enhancing the quality of life where we live and where we
Weak market conditions had a negative impact on our retirement savings and work. Not only do we consider this a moral obligation, we have seen firsthand how our contributions
investment businesses last year. Nationwide Financial and Gartmore did make good business sense and strengthen all of our relationships within the community.
not reach their financial goals. Given the current economic environment,
each company took strategic actions in 2002 to provide clients with greater
security, with more promising long-term prospects, and with enhanced
service.
Nationwide Financial issued notes to ensure we would have appropriate resources to
fulfill our obligations to our customers. In addition, we took steps to reduce
our reliance on equity markets by introducing fee-based products such as
The BEST of AMERICA® Advisory Services Programsm. This tailored solution for
affluent customers incorporates separately managed accounts, mutual funds
and variable annuities. Nationwide is the first large insurer to offer a product
in this market.
Also last year, Nationwide Retirement Solutions (NRS) – a subsidiary of Nationwide
Financial that provides retirement plans in the public sector – was selected
to provide New York State’s supplemental employee retirement program.
NRS now serves more than 1.6 million public employees across the country,
including the three largest state plans.

7. “Nationwide is on your side.”
for our Future
In a time of economic uncertainty, Nationwide’s operational improvements As one of America’s leading insurers, we will continue to drive product performance with pricing,
and reliable relationships place our company in an enviable position. underwriting, claims, billing and service center excellence. We will continue to strengthen our
Nationwide is strong, diversified and able to stand on the side of its distribution capacity, making it easier for customers to do business with us, while making it
customers throughout a lifetime of evolving financial needs. possible for Nationwide agencies to differentiate themselves from the competition. And, we
will continue to focus on existing opportunities in diverse markets.
In 2003, we intend to promote and leverage our advantages. Nationwide is
significantly increasing its investment in advertising, at both the As one of America’s leading providers of retirement solutions, Nationwide Financial will continue to
business unit and enterprise levels. Raising awareness of our brand provide a broad spectrum of variable and fixed products that will help the nation’s 78 million
identity to consumers across the map is a top priority. Baby Boomers, and soon-to-be retirees, fulfill their long-term financial goals. Our private and
public sector retirement plan businesses are strong, and we’re committed to investing in their
One of the company’s most visible branding efforts is our sponsorship
growth.
of the Nationwide Tour presented by the Professional Golfers’
Association (PGA). The Nationwide Tour, an extension of the PGA Finally, as a respected international asset management firm, Gartmore will continue to pursue
TOUR, has served as a proving ground for many of the game’s top diversification through asset allocation. Gartmore Investor Destinations Series Funds, for
golfers since its inception as the Ben Hogan Tour in 1991. Nearly 60 example, offer U.S. clients five portfolio options, based on their risk tolerance. Alternative
percent of current PGA professionals are alumni of the Nationwide investments, particularly hedge funds, continue to be popular around the globe. And, the
Tour. acquisitions of Riverview International Group Inc., an alternative investment manager, and
Coda Capital, a convertible bond manager, broaden the range of high-value-added products
We also will continue to focus on the priorities that have brought success to
and services Gartmore can offer. At year end, Gartmore also received approval to market 13
our customers, business partners, stakeholders and our company.
funds in Chile.
A challenging world economic and political climate will continue to affect the financial services
“Chasing the dream”
industry in 2003. However, our commitment to customers, business partners, and stakeholders
The Nationwide Tour
30-Second TV Commercial – and our focus to take care of their needs – positions Nationwide for continued success, this
year and beyond.
Living out of a golf bag,
chasing down your tour card,
no red carpet,
no black limo.
Just an endless sea of green...
and free cable.
Tomorrow’s stars
today on the
Nationwide Tour.
Nationwide Is On Your Side.®

8. Nationwide At-A-Glance
Products Distribution
Property and Casualty
Personal auto coverage: • Exclusive Nationwide agents
Nationwide continues to devise quality insurance
• Preferred, standard and nonstandard auto • Direct response
products and services for millions of policyholders.
• Motorcycle • Independent agents
Our dedication to providing the best protection products
• Recreational vehicle • Partnerships and membership organizations
goes hand-in-hand with our commitment to providing
Rankings • Employers and banks
excellent customer service.
Property coverage: • Internet
In the U.S. • Homes • Sponsor organizations
• Farms
• #1 provider of bundled retirement plans1 • Rental dwellings
• Condominiums
• #1 defined contribution recordkeeper2 • Mobile homes
• #2 provider of variable annuities through Mainstreet commercial:
• Property and liability
financial institutions3
• Commercial auto, workers compensation and
commercial umbrella
• #3 provider of variable universal life4
Life and Retirement Savings
• #8 writer of individual variable annuities5
• Variable and fixed annuities • NASD-member firms
Nationwide Financial is a diverse retirement savings
• #11 U.S. life insurer based on assets • Deferred compensation programs • Financial planners, regional and national
franchise focused on developing personalized solutions
as of 9/30/02 • Private and public retirement plans wirehouses
for retirement living and giving customers more choice
• Term, whole, universal and variable life insurance • Financial institutions
and control over their retirement security. Our dedication
• #4 homeowner insurer6 • Corporate- and bank-owned life insurance • Pension plan administrators
to this market has earned us a reputation of leadership,
• Investment management • Direct sales force for public sector plans
serving nearly 5 million customers with a product
• Immediate variable/fixed annuities • Exclusive Nationwide agents
• #5 auto insurer6 portfolio of individual annuities, private and public
• Nationwide Provident agents
pension plans, life insurance and mutual funds.
• #7 property and casualty insurer6
Asset Management
In the U.K.
In the U.S.: • NASD-member firms
Nationwide has a diverse asset management history. Our
• AlphaGen Capella Fund named Long/Short • Retail mutual funds • Independent broker-dealers
U.S.-based asset manager, Gartmore Global Investments,
• Alternative investments • Regional and national wirehouses
Fund of the Year for 2002 by EuroHedge and our London-based affiliate, Gartmore Investment
• Single strategy hedge funds • National financial institutions
Management plc, serve the needs of individual investors
• Fund of hedge funds • Corporate and pension plan administrators
as well as institutions, such as corporate and public
• Gartmore European Equities received the • Separate accounts • Independent financial advisors
pension plans, insurance companies, endowments,
2002 Global Investor Award for Excellence • Global equity and fixed-income products • Strategic partners
foundations and mutual fund companies. Guided by a
• Regional portfolios • Discretionary asset managers
common investment philosophy and disciplined process,
• Currency overlay • Global institutions
Gartmore delivers a diversified range of core, specialty
• Cash management • Nationwide Financial
and alternative investment strategies – all designed to
achieve superior results commensurate with a selective
In the U.K. and abroad:
amount of risk.
• Investment trusts
• Individual savings accounts
• Personal equity plans
• Hedge funds
• Offshore investment funds
• Institutional pooled funds
Strategic Investments
• Life insurance, long-term savings products, Consumer finance:
In addition to our three core businesses – life and
mutual funds, and employer-sponsored plans for • Internet
retirement savings, domestic property and casualty
international markets • Phone
insurance, and asset management – we have other
• Home mortgages and other selected consumer • Agents
important and growing strategic investments. These
finance offerings • Alliance partners
companies are not presently the size and scale to be
• Risk management, state fund services and
considered core businesses, but they are nevertheless
employee benefits, including total absence Risk management, state fund services,
important to our future. They represent ideas for
management and short-term and long-term employee benefits:
long-term growth, investments to be developed and
disability • Direct sales
harvested, and opportunities for innovation.
• Real estate development • Brokers
• Consultants
International life and retirement savings:
• Agents
• Financial institutions
• Financial planners
1
DC News, 2003, 2 Pensions & Investments, 2002, 3
Kenneth Kehrer Associates, 2002, 4 Tillinghast-Towers Perrin, 2002, 5 VARDS, 2002, 6 A.M. Best Company, Inc

9. Combined Income Statement
Combined Financial Statement
(in thousands of dollars)
Statutory
(in thousands of dollars)
Statutory
As of December 31 2002 2001
As of December 31 2002 2001
Assets Revenues
Bonds $38,875,379 $30,812,709 Insurance Premiums
Stocks 3,134,315 3,781,148 $11,191,887
Property/Casualty $10,410,727
Excess of Market Value 1,033,818 1,913,537
13,543,329
Life, Health and Annuity 15,065,986
Over Equity in Publicly Traded Subsidiary (Note 2)
2,792,055
Net Investment Income 2,630,026
Mortgage Loans and Real Estate 10,269,180 8,590,628
1,893,834
Policy Loans 993,838 599,509 Other 1,430,859
Cash and Short-Term Investments 1,361,348 1,062,075 29,421,105
Total Revenue 29,537,597
Other Invested Assets 1,234,169 509,221 Benefits and Expenses:
Total Investments 56,902,048 47,268,826 Insurance Claims Costs and Policyholders’ Benefits:
Premiums in Course of Collection 3,313,419 1,783,415
7,974,291
Property/Casualty 8,486,704
Other Assets 4,853,616 3,188,512
16,196,407
Life, Health and Annuity 13,881,413
Assets Held in Separate Accounts 52,861,356 61,222,336
5,792,767
Insurance Operating Expenses 5,262,476
Total Assets 117,930,439 113,463,089
(1,349,909)
Net Transfers to Separate Accounts 2,030,567
Liabilities
28,613,557
Total Benefits and Expenses 29,661,161
Insurance Reserves:
807,548
Operating Income (Loss) (123,563)
Losses and Loss Adjustment Expenses 10,222,004 9,518,321
Future Policy Benefits 35,854,772 26,432,246 (56,018)
Other Income (Expense) (12,342)
Unearned Premiums 4,225,372 3,717,146 (49,939)
Dividends to Policyholders (52,229)
Policyholders’ Dividend Accumulation 4,057 2,307
Long-Term Debt 1,438,793 728,171 Income Before Income Taxes, Realized Capital Gains
Accounts Payable and Other Liabilities 6,223,166 4,084,220 and Minority Interest 701,591 (188,134)
Liabilities Related to Separate Accounts 52,207,206 60,881,591 (310,668)
Realized Capital Gains (Losses) (115,281)
Total Liabilities 110,175,370 105,364,003 10,159
Minority Interest in (Income) Loss of Subsidiaries 1,675
Minority Interest in Subsidiary 636,467 290,644 128,497
Income Taxes (10,218)
Preferred Securities of Subsidiary Trusts 300,000 300,000
252,266
Net Income (Loss) (294,871)
Surplus for Policyholders’ Protection 6,818,603 7,508,443
(724,783)
Net Unrealized Capital Gains (Losses) (768,798)
117,930,439 113,463,089
Total Liabilities & Policyholders’ Surplus
Unrealized Capital Gain (Loss)
in Publicly Traded Subsidiary (Note 2) (874,143) (460,842)
Notes to Combined Financial Statements Other Surplus Changes (Note 3) 656,811 1,059,862
1) The combined financial statements include the accounts of Nationwide Mutual Insurance Company, Nationwide Mutual Fire Increase (Decrease) in Surplus for Policyholders’ Protection (689,849) (464,649)
Insurance Company, Farmland Mutual Insurance Company and their subsidiaries. All material intercompany accounts have been
Surplus for Policyholders’ Protection – Jan. 1 7,508,443 7,973,092
eliminated in consolidation. This financial information is not intended to supersede, or be as comprehensive as, the statutory
Surplus for Policyholders’ Protection – Dec. 31 6,818,594 7,508,443
annual statement filed for each company with the appropriate state insurance departments. The financial statements of the indi-
vidual companies within Nationwide have been audited by KPMG LLP.
2) Nationwide, concurrent with the initial public offering of Nationwide Financial Services, Inc. (NFS), elected to change its
carrying value in NFS from statutory equity to market value discounted by 24 percent in accordance with prescribed statutory
accounting practices. This discount from market value is a result of Nationwide retaining control and ownership of more than
63 percent of the outstanding common stock of NFS. The statutory equity of NFS and the corresponding equity investment in
subsidiary were eliminated in preparing these combined financial statements. However, the increased value of $1,033,818
($1,913,537 in 2001) from carrying Nationwide’s share of NFS at discounted market value remains as an asset on the balance
sheet, and the change in this asset from year to year is reflected as an unrealized capital gain (loss) in the Surplus for
Policyholders’ Protection.
3) Other surplus changes include the change in deferred taxes and surplus note issuance.

10. Nationwide Board of Directors
Lewis J. Alphin Keith W. Eckel David O. Miller
Galen R. Barnes Willard J. Engel Ralph M. Paige
A. I. Bell Fred C. Finney James F. Patterson
Timothy J. Corcoran W. G. Jurgensen Arden L. Shisler
Yvonne M. Curl Lydia M. Marshall Robert L. Stewart
Kenneth D. Davis
Nationwide Office of the CEO
W. G. Jurgensen Michael C. Keller
Chief Executive Officer Executive Vice President
Chief Information Officer
Galen R. Barnes
President and Chief Operating Officer Steve S. Rasmussen
Nationwide Insurance President and Chief Operating Officer
Allied Insurance
Joseph J. Gasper
President and Chief Operating Officer Douglas C. Robinette
Nationwide Financial Executive Vice President
Chief Strategic Officer
Patricia R. Hatler
Executive Vice President Robert A. Rosholt
General Counsel and Secretary Executive Vice President
Chief Financial Officer
Richard D. Headley Chief Investment Officer
President and Managing Director
Nationwide Global Holdings R. Max Williamson
President and Chief Operating Officer
Paul J. Hondros Scottsdale Insurance
President and Chief Executive Officer
Gartmore
Donna A. James
Executive Vice President
Chief Administrative Officer

11. International Headquarters
One Nationwide Plaza
Columbus, Ohio 43215-2220
An equal opportunity and affirmative action employer
Nationwide Is On Your Side.® www.nationwide.com
G-9240-E