Bad weather tanks Nationwide’s operating income
That bad winter you griped and complained about? Nationwide hates it too. For the first half of the year, Nationwide’s operating income dropped 29 percent, which probably led to some not too happy people at the insurance company. The abnormally harsh (and awful) winter, spiked property-and-casualty losses for the company. The second quarter wasn’t any brighter, and operating income dipped by 45 percent. “Obviously we had some tough results weather-related, but that’s the business that we’re in,” CFO Mark Thresher said according to Columbus Business First. Because of the polar vortex, harsh weather and hail storms didn’t have quite the year they had hoped for.
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