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2006
Third Quarter




2006 Nationwide Financial® Statistical Supplement
Nationwide Financial Services, Inc.
          Statistical Supplement
           September 30, 2006




This Page Intentionally Left Blank.
Nationwide Financial Services, Inc.
                                                        Statistical Supplement
                                                         September 30, 2006

                                                              Table of Contents

                                                                                                                      Page
Quarterly Financial Highlights                                                                                         1-2

NFS Financial Reporting Structure                                                                                      2

Quarterly Consolidated Income Statements                                                                               4

Combining Income Statements
               For the three months ended September 30, 2006                                                            5
               For the three months ended September 30, 2005                                                            6

Quarterly Consolidated Balance Sheets                                                                                  8

Individual Investments Segment
                  Quarterly earnings trends                                                                             9
                  Account value activity                                                                                9
                  Account values by product                                                                            10
                  Sales by product                                                                                     10
                  Sales by channel                                                                                     10

Retirement Plans Segment
                 Quarterly earnings trends                                                                             11
                 Account value activity                                                                                11
                 Account values by product                                                                             12
                 Sales by product                                                                                      12
                 Sales by channel                                                                                      12

Individual Protection Segment
                  Quarterly earnings trends                                                                            13
                  Policy reserves                                                                                      13
                  Insurance in force                                                                                   13
                  Sales by product                                                                                     14
                  Sales by channel                                                                                     14
                  Investment life quarterly earnings trends                                                            15
                  Investment life policy reserve activity                                                              15
                  Fixed life quarterly earnings trends                                                                 16
                  Fixed life policy reserve activity                                                                   16

Corporate and Other Segment
                 Quarterly earnings trends                                                                             17
                 Medium term notes account value activity                                                              17

Other Data
                   Customer funds managed and administered                                                             18
                   Separate account assets by segment and fund type                                                    18
                   Securities available-for-sale                                                                       19
                   Aging of gross unrealized losses on securities available-for-sale                                   19
                   Credit quality of fixed maturity securities available-for-sale                                      20
                   Mortgage loans by region and property type                                                          20
                   Deferred policy acquisition costs                                                                   21
                   Individual variable annuity deferred acquisition costs                                              22
                   Value of business acquired                                                                          23
                   Individual variable annuity guaranteed minimum death benefits                                       24
                   Individual variable annuity guaranteed minimum accumulation benefits                                25
                   Individual variable annuity guaranteed minimum income benefits                                      25
                   Individual variable annuity guaranteed minimum withdrawal benefits                                  25
                   Individual variable annuity guaranteed minimum death benefit reserve activity                       26
                   Individual variable annuity guaranteed minimum accumulation benefit embedded derivative activity    26
                   Individual fixed annuity and fixed option of variable annuity summary of crediting rate detail      26

                                                                                                                      27-40
Historical Data

Glossary                                                                                                              41-44

Shareholder Information                                                                                                45
Nationwide Financial Services, Inc.
                                                                                  Statistical Supplement
                                                                                   September 30, 2006


                                                                        Quarterly Financial Highlights

($ in millions except for per share data)                                          Q3'05                   Q4'05                 Q1'06               Q2'06               Q3'06
Operating Revenues
    Individual investments                                                    $          385.3       $              380.1    $       382.6       $       373.2       $       382.3
    Retirement plans                                                                     271.4                      276.0            278.6               294.9               286.5
    Individual protection                                                                331.4                      339.7            338.4               333.7               338.6
    Corporate and other                                                                   97.4                      103.5            100.1               111.5               108.8
                                               Total operating revenues       $        1,085.5        $           1,099.3    $     1,099.7       $     1,113.3       $     1,116.2

      Net realized gains (losses) on investments, hedging
                                        (1)
       instruments and hedged items                                                       (14.5)                      3.7             (8.1)               (11.0)               5.5
                                                         Total revenues       $         1,071.0       $           1,103.0    $     1,091.6       $     1,102.3       $     1,121.7

Pre-tax Operating Earnings
   Individual investments                                                     $            56.2      $              53.4     $        56.4       $        52.5       $       60.4
   Retirement plans                                                                        45.4                     49.7              53.6                64.4               53.6
   Individual protection                                                                   63.8                     59.6              64.9                60.5               71.0
   Corporate and other                                                                      (1.1)                   22.6              11.6                16.6               21.7
                                              Pre-tax operating earnings      $           164.3       $            185.3     $       186.5       $      194.0        $      206.7
      Federal income tax expense                                                            (8.0)                   33.1              42.2               (70.0)              52.0
                                                 Net operating earnings       $           172.3       $            152.2     $       144.3       $      264.0        $      154.7

      Net realized gains (losses) on investments, hedging
       instruments and hedged items, net of taxes (1)                                       (9.4)                     2.4                (5.3)               (7.2)                3.6

      Adjustment to amortization related to net realized
       gains (losses), net of taxes                                                          2.9                      0.1                 3.3                 1.0                 1.2

      Discontinued operations, net of taxes                                                 0.9                     (24.4)             -                  -                    -
                                                            Net income        $           166.7       $            130.3     $       142.3       $      257.8        $       159.5

Per Diluted Share
  Net operating earnings                                                      $            1.12       $             0.99     $       0.94        $           1.76    $        1.03

      Net realized gains (losses) on investments, hedging
                                                    (1)
                                                                                          (0.07)                     0.02            (0.03)              (0.05)                  0.02
       instruments and hedged items, net of taxes

      Adjustment to amortization related to net realized
       gains (losses), net of taxes                                                        0.02                       -                  0.02                0.01                0.01

      Discontinued operations, net of taxes                                                0.01                     (0.16)            -                       -                -
                                                            Net income        $            1.08       $              0.85    $       0.93        $           1.72    $        1.06


Sales by Channel
   Non-affiliated
     Independent broker/dealers                                               $         1,280.4      $            1,207.9    $     1,487.8       $     1,380.7       $     1,363.9
     Wirehouse and regional firms                                                         449.1                     482.3            590.1               555.6               596.4
     Financial institutions                                                               398.8                     424.3            523.7               580.7               570.1
     Pension plan administrators                                                          108.2                     104.9            135.9               139.6               124.8
     Life specialists                                                                      82.5                      69.0            172.6                84.0                46.3
   Affiliated
     Nationwide Retirement Solutions                                                   1,012.7                      948.8          1,028.5             1,001.2             1,031.3
     Nationwide agents                                                                   188.8                      207.2            196.4               203.1               186.6
     Nationwide Financial Network                                                        160.2                      181.6            185.7               171.0               168.3
     The 401(k) Company                                                                  303.5                      288.3            535.9               422.3               365.2
     TBG Financial                                                                        92.3                       36.0            110.4                62.7                21.4
                                                                   Total      $        4,076.5        $           3,950.3    $     4,967.0       $     4,600.9       $     4,474.3



(1)
      Excluding operating items (periodic net coupon settlements on non-qualifying derivatives, trading portfolio realized gains and losses,
      trading portfolio valuation changes, and net realized gains and losses related to securitizations).

Note: All prior periods have been reclassified to reflect NFS Bermuda and TBG Lynch (a subsidiary of TBG Financial) as discontinued operations.


                                                                                            1
Nationwide Financial Services, Inc.
                                                                                             Statistical Supplement
                                                                                              September 30, 2006
                                                                                     Quarterly Financial Highlights

($ in millions except for per share data)                                                              Q3'05                  Q4'05               Q1'06                Q2'06             Q3'06
Balance Sheet Data
    Total assets                                                                                 $      117,421.3       $      116,159.9      $   116,558.7       $     113,083.0    $   114,880.0

      Customer funds managed and administered                                                    $      155,650.6       $      155,612.9      $   162,451.7       $     160,051.6    $   163,240.5

      Shareholders' equity
                                                                         (1)
        Including accumulated other comprehensive income (AOCI)                                  $         5,375.6      $        5,350.4      $        5,126.2    $       5,236.8    $       5,630.0
        AOCI                                                                                                 196.1                 100.7                 (77.9)            (202.0)              47.8
        Excluding AOCI                                                                           $         5,179.5      $        5,249.7      $        5,204.1    $       5,438.8    $       5,582.2

      Net operating return on average equity excluding AOCI                                                  13.5%                 11.7%                11.0%              19.8%              11.2%

                                                                               (2)
      Adjusted net operating return on average equity excluding AOCI                                         11.2%                 11.7%                11.0%              11.4%              11.2%

      Statutory capital and surplus                                                              $         3,305.9      $        3,262.1      $        3,279.3    $       3,437.4    $       3,504.2


Stock Data
   Closing Price                                                                                 $           40.05      $          44.00      $         43.02     $        44.08     $        48.10

      Weighted average shares outstanding
       Basic                                                                                                 153.1                 152.9                152.3              149.2              149.5
       Diluted                                                                                               153.9                 153.6                152.9              149.9              150.3

      Book value per share
       Including AOCI                                                                            $           35.09      $          35.08      $         34.40     $        35.08     $        37.61
       Excluding AOCI                                                                            $           33.81      $          34.42      $         34.93     $        36.43     $        37.29


(1)
      Includes changes in fair value of certain investments and derivatives under SFAS 115 and SFAS 133.

(2)
      3Q 2005 return adjusted for $42.6 million impact of one-time tax adjustments associated with separate account dividend received deductions and $14.1 million charge
      related to calling of trust preferred securities. 2Q 2006 return adjusted for $113.1 million of released tax reserves and associated tax-related adjustments relating to prior tax years.

Note: All prior periods have been reclassified to reflect NFS Bermuda and TBG Lynch (a subsidiary of TBG Financial) as discontinued operations.



                                                                       NFS Operating Segment Reporting Structure



                                                              NATIONWIDE FINANCIAL
                                                                  SERVICES, INC.


                   Individual                                       Retirement                                           Individual                                   Corporate
                  Investments                                         Plans                                              Protection                                   & Other

                Variable Annuities                                    Public Sector - 457                                    Fixed Life                                Medium Term Notes
                                                                                                                                  Universal

                Fixed Annuities                                       Private Sector – 401(k)                                                                          Structured Products
                                                                                                                                  Whole

                                                                                                                                  Term
                Income Products                                                                                                                                        Corporate Other
                                                                                                                             Investment Life
                                                                                                                                  Variable Universal
                Advisory Services
                                                                                                                                  COLI




                                                                                                       2
Nationwide Financial Services, Inc.
          Statistical Supplement
           September 30, 2006




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                    3
Nationwide Financial Services, Inc.
                                                                                   Statistical Supplement
                                                                                    September 30, 2006

                                                                    Quarterly Consolidated Income Statements

($ in millions)                                                                           Q3'05                    Q4'05               Q1'06               Q2'06               Q3'06
Operating Revenues
  Asset fees                                                                         $           163.1      $          163.0       $      168.9        $      170.0        $      169.2
  Cost of insurance charges                                                                       97.8                  97.5               98.9               100.2               100.6
  Administrative fees                                                                             29.6                  27.7               30.2                47.2                36.2
  Surrender fees                                                                                  24.1                  22.6               23.0                20.2                21.6
                                                           Total policy charges                  314.6                 310.8              321.0               337.6               327.6

      Traditional life and immediate annuity premiums                                            97.2                  107.1               107.8               109.7               110.5
      Net investment income                                                                     592.8                  587.9               577.3               572.1               577.9
      Operating realized gains (losses)                                                           0.5                    1.1                 1.3                 1.1                 4.1
      Other income                                                                               80.4                   92.4                92.3                92.8                96.1
                                                    Total operating revenues                  1,085.5                1,099.3             1,099.7             1,113.3             1,116.2

Benefits
 Interest credited                                                                               350.6                 347.7              342.1               345.7               348.2
 Life insurance and annuity benefits                                                             142.9                 149.9              156.1               156.4               163.8
 Policyholder dividends                                                                           27.1                  27.0               20.2                24.5                24.6
                                                                 Total benefits                  520.6                 524.6              518.4               526.6               536.6

Expenses
 Commissions                                                                                      130.2                140.1               153.1               160.4               160.7
 General operating expenses                                                                       198.9                209.3               213.4               214.6               201.0
 Debt extinguishment costs                                                                         21.7                  -                   -                   -                   -
 Deferral of policy acquisition costs                                                            (112.4)              (120.8)             (135.1)             (147.4)             (138.8)
                                                                        Subtotal                  238.4                228.6               231.4               227.6               222.9

      Amortization of policy acquisition costs                                                   122.9                 123.7              125.7               127.5               109.8
      Amortization of value of business acquired                                                  11.3                  10.0               11.6                12.5                14.9
      Interest expense on debt                                                                    28.0                  27.1               26.1                25.1                25.3
                                                                Total expenses                   400.6                 389.4              394.8               392.7               372.9

                                                    Pre-tax operating earnings       $           164.3      $          185.3       $      186.5        $      194.0        $      206.7
Federal income tax expense                                                                         (8.0)                33.1               42.2                (70.0)              52.0
                                                       Net operating earnings        $           172.3      $          152.2       $      144.3        $      264.0        $      154.7

Net realized gains (losses) on investments, hedging
 instruments and hedged items, net of taxes (1)
 Realized gains on sales, net of hedging                                                            8.4                    20.5              7.3                11.0                   10.2
 Realized losses on sales, net of hedging                                                          (3.3)                   (7.9)           (12.9)              (19.1)                  (4.4)
 Other-than-temporary impairments, including mortgage loan
    valuation allowance adjustment                                                                (12.6)                   (7.5)               (0.6)               (2.5)               (2.9)
 Credit default swaps                                                                              (2.8)                   (0.4)               (0.1)               (0.1)               (0.1)
 Derivatives, excluding hedging gains and losses on sales
   and credit default swaps                                                                         1.4                    (1.9)                0.5                 3.4                0.3
 Amounts credited to policyholder dividend obligation                                              (2.1)                    0.3                 0.1                (0.7)               0.5
 Adjustment to VOBA amortization                                                                    1.6                    (0.7)                0.4                 0.8                -
                                                                        Subtotal                   (9.4)                    2.4                (5.3)               (7.2)               3.6

Adjustment to amortization related to net realized
 gains (losses), net of taxes                                                                       2.9                     0.1                3.3                 1.0                  1.2

Discontinued operations, net of taxes                                                               0.9                (24.4)                  -                   -                   -

                                                                    Net income       $           166.7      $          130.3       $      142.3        $      257.8        $       159.5



(1)
      Excluding operating items (periodic net coupon settlements on non-qualifying derivatives, trading portfolio realized gains and losses,
      trading portfolio valuation changes, and net realized gains and losses related to securitizations).

Note: All prior periods have been reclassified to reflect NFS Bermuda and TBG Lynch (a subsidiary of TBG Financial) as discontinued operations.




                                                                                             4
Nationwide Financial Services, Inc.
                                                                                  Statistical Supplement
                                                                                   September 30, 2006

                                                                            Combining Income Statement
                                                                   For the three months ended September 30, 2006

                                                                                      Individual               Retirement          Individual          Corporate
($ in millions)                                                                      Investments                 Plans             Protection          and Other          Total
Operating Revenues
  Asset fees                                                                       $            125.2      $          32.9     $          11.1     $          -       $       169.2
  Cost of insurance charges                                                                       -                    -                 100.6                -               100.6
  Administrative fees                                                                             5.5                  7.9                22.8                -                36.2
  Surrender fees                                                                                 14.7                  0.8                 6.1                -                21.6
                                                         Total policy charges                   145.4                 41.6               140.6                -               327.6

      Traditional life and immediate annuity premiums                                            37.3                  -                  73.2                 -              110.5
      Net investment income                                                                     199.1                164.7               118.6                95.5            577.9
      Operating realized gains (losses)                                                           -                    -                   -                   4.1              4.1
      Other income                                                                                0.5                 80.2                 6.2                 9.2             96.1
                                                  Total operating revenues                      382.3                286.5               338.6               108.8          1,116.2

Benefits
 Interest credited                                                                              131.5                112.2                49.5               55.0             348.2
 Life insurance and annuity benefits                                                             55.5                  -                 108.3                -               163.8
 Policyholder dividends                                                                           -                    -                  24.6                -                24.6
                                                               Total benefits                   187.0                112.2               182.4               55.0             536.6

Expenses
 Commissions                                                                                     86.0                 37.4                 29.9                7.4            160.7
 General operating expenses                                                                      54.5                 78.2                 68.8               (0.5)           201.0
 Deferral of policy acquisition costs                                                           (86.9)                 (8.8)              (43.1)               -             (138.8)
                                                                    Subtotal                     53.6                106.8                 55.6                6.9            222.9

      Amortization of policy acquisition costs                                                   79.5                  9.7                20.6                 -              109.8
      Amortization of value of business acquired                                                  1.8                  4.2                 8.9                 -               14.9
      Interest expense on debt                                                                    -                    -                   0.1                25.2             25.3
                                                              Total expenses                    134.9                120.7                85.2                32.1            372.9

                                                   Pre-tax operating earnings       $            60.4      $          53.6     $          71.0     $          21.7    $       206.7
Federal income tax expense                                                                                                                                                     52.0
                                                      Net operating earnings                                                                                          $       154.7

Net realized gains (losses) on investments, hedging
 instruments and hedged items, net of taxes (1)
 Realized gains on sales, net of hedging                                                                                                                                          10.2
 Realized losses on sales, net of hedging                                                                                                                                         (4.4)
 Other-than-temporary impairments, including mortgage loan
    valuation allowance adjustment                                                                                                                                                (2.9)
 Credit default swaps                                                                                                                                                             (0.1)
 Derivatives, excluding hedging gains and losses on sales
   and credit default swaps                                                                                                                                                       0.3
 Amounts credited to policyholder dividend obligation                                                                                                                             0.5
 Adjustment to VOBA amortization                                                                                                                                                  -
                                                                    Subtotal                                                                                                      3.6

Adjustment to amortization related to net realized
 gains (losses), net of taxes                                                                                                                                                      1.2

Discontinued operations, net of taxes                                                                                                                                             -

                                                                 Net income                                                                                           $       159.5




(1)
      Excluding operating items (periodic net coupon settlements on non-qualifying derivatives, trading portfolio realized gains and losses,
      trading portfolio valuation changes, and net realized gains and losses related to securitizations).




                                                                                            5
Nationwide Financial Services, Inc.
                                                                                  Statistical Supplement
                                                                                   September 30, 2006

                                                                            Combining Income Statement
                                                                   For the three months ended September 30, 2005

                                                                                      Individual               Retirement          Individual          Corporate
($ in millions)                                                                      Investments                 Plans             Protection          and Other          Total
Operating Revenues
  Asset fees                                                                        $           118.5      $          34.2     $          10.4     $          -       $       163.1
  Cost of insurance charges                                                                       -                    -                  97.8                -                97.8
  Administrative fees                                                                             4.1                  1.8                23.7                -                29.6
  Surrender fees                                                                                 16.0                  1.7                 6.4                -                24.1
                                                         Total policy charges                   138.6                 37.7               138.3                -               314.6

      Traditional life and immediate annuity premiums                                            26.4                  -                  70.8                -                97.2
      Net investment income                                                                     219.9                165.7               117.1               90.1             592.8
      Operating realized gains (losses)                                                           -                    -                   -                  0.5               0.5
      Other income                                                                                0.4                 68.0                 5.2                6.8              80.4
                                                  Total operating revenues                      385.3                271.4               331.4               97.4           1,085.5

Benefits
 Interest credited                                                                              148.2                115.4                48.0               39.0             350.6
 Life insurance and annuity benefits                                                             37.3                  -                 105.6                -               142.9
 Policyholder dividends                                                                           -                    -                  27.1                -                27.1
                                                               Total benefits                   185.5                115.4               180.7               39.0             520.6

Expenses
 Commissions                                                                                     62.4                 33.7                 27.9                6.2            130.2
 General operating expenses                                                                      47.3                 72.6                 75.3                3.7            198.9
 Debt extinguishment costs                                                                        -                     -                   -                 21.7             21.7
 Deferral of policy acquisition costs                                                           (59.9)                 (9.1)              (43.4)               -             (112.4)
                                                                    Subtotal                     49.8                 97.2                 59.8               31.6            238.4

      Amortization of policy acquisition costs                                                   92.2                 12.1                18.6                -               122.9
      Amortization of value of business acquired                                                  1.6                  1.3                 8.4                -                11.3
      Interest expense on debt                                                                    -                    -                   0.1               27.9              28.0
                                                              Total expenses                    143.6                110.6                86.9               59.5             400.6

                                                   Pre-tax operating earnings       $            56.2      $          45.4     $          63.8     $          (1.1)   $       164.3
Federal income tax expense                                                                                                                                                      (8.0)
                                                      Net operating earnings                                                                                          $       172.3

Net realized gains (losses) on investments, hedging
 instruments and hedged items, net of taxes (1)
 Realized gains on sales, net of hedging                                                                                                                                           8.4
 Realized losses on sales, net of hedging                                                                                                                                         (3.3)
 Other-than-temporary impairments, including mortgage loan
    valuation allowance adjustment                                                                                                                                            (12.6)
 Credit default swaps                                                                                                                                                          (2.8)
 Derivatives, excluding hedging gains and losses on sales
   and credit default swaps                                                                                                                                                        1.4
 Amounts credited to policyholder dividend obligation                                                                                                                             (2.1)
 Adjustment to VOBA amortization                                                                                                                                                   1.6
                                                                    Subtotal                                                                                                      (9.4)

Adjustment to amortization related to net realized
 gains (losses), net of taxes                                                                                                                                                     2.9

Discontinued operations, net of taxes                                                                                                                                             0.9

                                                                 Net income                                                                                           $       166.7



(1)
      Excluding operating items (periodic net coupon settlements on non-qualifying derivatives, trading portfolio realized gains and losses,
      trading portfolio valuation changes, and net realized gains and losses related to securitizations).

Note: All prior periods have been reclassified to reflect NFS Bermuda and TBG Lynch (a subsidiary of TBG Financial) as discontinued operations.


                                                                                            6
Nationwide Financial Services, Inc.
          Statistical Supplement
           September 30, 2006




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                    7
Nationwide Financial Services, Inc.
                                                                        Statistical Supplement
                                                                         September 30, 2006

                                                            Quarterly Consolidated Balance Sheets

($ in millions, except per share data)                                Q3'05                   Q4'05                Q1'06              Q2'06              Q3'06
Assets
  Investments
     Securities available-for-sale:
       Fixed maturity securities                                  $      31,092.2       $       30,106.0       $    28,645.0      $    27,980.9      $    28,579.0
       Equity securities                                                     78.6                   75.6                76.5               63.2               65.2
     Trading assets                                                          34.7                   34.4                27.8               21.0               22.8
     Mortgage loans                                                       9,332.5                9,148.6             9,048.3            9,060.7            8,981.2
     Real estate                                                            107.7                  108.7               108.6              108.4              104.8
     Policy loans                                                           935.6                  930.6               933.9              948.3              957.7
     Other long-term investments                                            617.6                  691.9               688.9              687.4              680.6
     Short-term investments                                               2,104.2                2,073.2             2,830.5            2,169.7            1,917.4
                                             Total investments           44,303.1               43,169.0            42,359.5           41,039.6           41,308.7

  Cash                                                                       47.6                   16.4                23.9               23.6               12.9
  Accrued investment income                                                 436.8                  396.3               398.9              388.7              412.6
  Deferred policy acquisition costs                                       3,710.4                3,685.4             3,794.7            3,875.6            3,783.5
  Value of business acquired                                                457.7                  449.7               443.3              405.2              399.1
  Other intangible assets                                                    46.1                   45.6                45.4               44.9               44.2
  Goodwill                                                                  389.6                  364.5               359.0              359.0              359.0
  Other assets                                                            2,227.5                2,069.2             2,200.3            2,117.3            2,433.2
  Assets held in separate accounts                                       65,802.5               65,963.8            66,933.7           64,829.1           66,126.8
                                                  Total assets    $     117,421.3        $     116,159.9       $   116,558.7      $   113,083.0      $   114,880.0

Liabilities and shareholders' equity
  Future policy benefits and claims                               $      40,787.4       $       39,748.1       $    39,519.4      $    38,451.3      $    38,131.9
  Short-term debt                                                           391.2                  252.3               147.4              189.8               88.6
  Long-term debt                                                          1,406.0                1,398.0             1,398.3            1,398.4            1,398.1
  Other liabilities                                                       3,658.6                3,447.3             3,433.7            2,977.6            3,504.6
  Liabilities related to separate accounts                               65,802.5               65,963.8            66,933.7           64,829.1           66,126.8
                                                                        112,045.7              110,809.5           111,432.5          107,846.2          109,250.0

  Shareholders' equity                                                    5,375.6                5,350.4             5,126.2            5,236.8            5,630.0
                  Total liabilities and shareholders' equity      $     117,421.3        $     116,159.9       $   116,558.7      $   113,083.0      $   114,880.0


                                                                       Capital Structure

($ in millions)                                                       Q3'05                   Q4'05                Q1'06              Q2'06              Q3'06

    Total capital, including AOCI                                 $        6,781.6      $         6,748.4      $     6,524.5      $     6,635.2      $     7,028.1
    Less AOCI                                                                196.1                  100.7              (77.9)            (202.0)              47.8
    Total capital, excluding AOCI                                 $        6,585.5      $         6,647.7      $     6,602.4      $     6,837.2      $     6,980.3

    Leverage, including AOCI
     Long-term debt--to--total capital                                      20.7%                   20.7%             21.4%              21.1%               19.9%

    Leverage, excluding AOCI
     Long-term debt--to--total capital                                      21.3%                   21.0%             21.2%              20.5%               20.0%

    Ratio of pre-tax operating earnings before interest
         expense to interest expense                                          6.9X                      7.8X               8.1X               8.7X               9.2X




                                                                                  8
Nationwide Financial Services, Inc.
                                                                                              Statistical Supplement
                                                                                               September 30, 2006



                                                                                       Individual Investments
                                                                                      Quarterly Earnings Trends

($ in millions)                                                                               Q3'05                      Q4'05                 Q1'06                Q2'06                 Q3'06
Operating Revenues
  Asset fees                                                                           $              118.5       $              118.1     $        124.0       $           125.0     $        125.2
  Administrative fees                                                                                   4.1                        4.3                4.6                     4.9                5.5
  Surrender fees                                                                                       16.0                       14.2               15.2                    14.2               14.7
                                                               Total policy charges                   138.6                      136.6              143.8                   144.1              145.4
      Net Investment Income
       General account assets                                                                         226.4                      220.3              212.7                   200.0              205.9
       Charge for invested capital                                                                      (6.5)                      (6.9)              (6.3)                   (6.1)             (6.8)
                                                   Total net investment income                        219.9                      213.4              206.4                   193.9              199.1
      Premiums on income products                                                                    26.4                         29.7               31.9                 34.6                  37.3
      Other income                                                                                    0.4                          0.4                0.5                  0.6                   0.5
                                                          Total operating revenues                  385.3                        380.1              382.6                373.2                 382.3
Benefits
 Interest credited                                                                                    148.2                      144.5                 137.7                132.7              131.5
 Immediate annuity benefits                                                                            22.7                       25.7                  28.5                 30.4               31.7
 Policy benefits                                                                                       14.6                       16.3                  12.5                 19.2               23.8
                                                                     Total benefits                   185.5                      186.5                 178.7                182.3              187.0
Expenses
 Commissions                                                                                           62.4                        65.7                 73.6                 86.2                  86.0
 General operating expenses                                                                            47.3                        50.7                 48.4                 56.0                  54.5
 Deferral of policy acquisition costs                                                                 (59.9)                      (62.0)               (74.4)               (90.8)                (86.9)
                                                                           Subtotal                    49.8                        54.4                 47.6                 51.4                  53.6

      Amortization of policy acquisition costs                                                         92.2                       83.7               97.6                    84.8               79.5
      Amortization of value of business acquired                                                        1.6                        2.1                2.3                     2.2                1.8
                                                                    Total expenses                    143.6                      140.2              147.5                   138.4              134.9
                                                         Pre-tax operating earnings    $               56.2       $               53.4     $           56.4     $            52.5     $           60.4

Key Ratios/Statistics
 Average Account Values:
   General account                                                                     $         16,110.5         $           15,515.1     $     14,825.4       $     14,374.0        $     13,824.3
   Separate account                                                                              35,669.0                     35,975.9           36,504.3             36,815.8              36,824.2
   Advisory services program                                                                        345.3                        393.7              443.3                491.6                 528.7
                         Total average individual investments account values           $         52,124.8         $           51,884.7     $     51,773.0       $     51,681.4        $     51,177.2

      Earned rate                                                                                    5.62%                       5.68%              5.74%                5.56%                 5.95%
      Credited rate                                                                                  3.68%                       3.73%              3.72%                3.69%                 3.80%
                          Interest spread on average general account values                          1.94%                       1.95%              2.02%                1.87%                 2.15%
      Prepayment penalties and bond call premium income                                              0.30%                       0.19%              0.11%                0.09%                 0.24%
                          Base interest spread on average general account values                     1.64%                       1.76%              1.91%                1.78%                 1.91%
      Asset fees to average separate account values                                                  1.33%                       1.31%              1.36%                1.36%                 1.36%
      General operating expenses to average account values                                           0.36%                       0.39%              0.37%                0.43%                 0.43%
      Pre-tax operating earnings to average account values                                           0.43%                       0.41%              0.44%                0.41%                 0.47%
      Pre-tax operating earnings to operating revenues                                               14.6%                       14.0%              14.7%                14.1%                 15.8%
      Average allocated capital                                                        $           1,689.8        $            1,649.3     $      1,563.0       $      1,504.3        $      1,467.4
      Return on average allocated capital                                                            16.7%                       12.1%              11.9%                11.8%                 13.1%
      Adjusted return on average allocated capital (1)                                              10.9%                        12.1%              11.9%                11.8%                 13.1%

(1)
      3Q 2005 return adjusted for $24.3 million impact of one-time tax adjustments associated with separate account dividend received deductions.

Note: All prior periods have been reclassified to reflect NFS Bermuda as discontinued operations.

                                                                                           Individual Investments
                                                                                           Account Value Activity

($ in millions)                                                                               Q3'05                      Q4'05                 Q1'06                Q2'06                 Q3'06
Individual Variable Annuities
  Balance, beginning of period                                                         $         40,726.4         $           41,651.8     $     40,796.0       $     42,071.5        $     41,140.7
       Deposits                                                                                      870.2                       903.5            1,045.0               1,279.9              1,263.4
       Withdrawals and surrenders                                                                 (1,429.5)                   (1,456.8)          (1,535.4)             (1,479.4)            (1,554.2)
                                                                         Net flows                 (559.3)                     (553.3)             (490.4)               (199.5)              (290.8)
       Investment performance/interest credited                                                   1,615.9                         971.1           1,903.4               (605.1)              1,070.8
       Policy charges                                                                              (138.9)                       (137.6)           (140.6)              (141.3)               (141.2)
       Benefits and other                                                                             7.7                          24.6               3.1                 15.1                  (8.4)
       Acquisitions/(terminations), net                                                               -                        (1,160.6)              -                    -                     -
      Balance, end of period                                                           $         41,651.8         $           40,796.0     $     42,071.5       $     41,140.7        $     41,771.1


Individual Fixed Annuities
  Balance, beginning of period                                                         $          8,731.8         $            8,559.3     $      8,041.8       $      7,746.6        $      7,425.0
        Deposits                                                                                     27.4                         31.0               38.6                 42.7                  53.3
        Withdrawals and surrenders                                                                 (274.0)                      (330.0)            (400.9)              (437.5)               (534.1)
                                                                         Net flows                 (246.6)                      (299.0)            (362.3)              (394.8)               (480.8)

       Policyholder interest credited                                                                82.8                         77.6               73.4                 79.2                   68.2
       Policy charges                                                                                 (3.2)                        (2.6)              (2.8)                (2.5)                 (3.1)
       Benefits and other                                                                             (5.5)                       (3.9)               (3.5)                (3.5)                (13.7)
       Acquisitions/(terminations), net                                                                 -                       (289.6)                -                    -                     -
      Balance, end of period                                                           $          8,559.3         $            8,041.8     $      7,746.6       $      7,425.0        $      6,995.6


      Income Products                                                                  $          1,954.7         $            1,978.3     $      2,025.1       $      1,970.6        $      1,994.0
      Advisory services program                                                        $            375.9         $              411.5     $        475.0       $        508.1        $        549.2
                               Total individual investment account values              $         52,541.7         $           51,227.6     $     52,318.2       $     51,044.4        $     51,309.9




                                                                                                         9
Nationwide Financial Services, Inc.
                                                                             Statistical Supplement
                                                                              September 30, 2006
                                                                        Individual Investments
                                                                       Account Values by Product

($ in millions)                                                          Q3'05                   Q4'05                 Q1'06              Q2'06              Q3'06
Individual Variable Annuities
    BEST of AMERICA products                                       $        33,989.0         $     32,937.0        $    34,117.5      $    33,495.1      $     34,215.3
    Private label annuities                                                  7,178.4                7,398.9              7,505.5            7,243.9             7,171.5
    Nationwide Financial Network and other                                     484.4                  460.1                448.5              401.7               384.3
                            Total individual variable annuities    $        41,651.8         $     40,796.0        $    42,071.5      $    41,140.7      $     41,771.1

Individual Fixed Annuities                                         $         8,559.3         $      8,041.8        $     7,746.6      $     7,425.0      $      6,995.6
Income Products                                                    $         1,954.7         $      1,978.3        $     2,025.1      $     1,970.6      $      1,994.0
Advisory Services Program                                          $           375.9         $        411.5        $       475.0      $       508.1      $        549.2
               Total individual investment account values          $        52,541.7         $     51,227.6        $    52,318.2      $    51,044.4      $     51,309.9


                                                                         Individual Investments
                                                                            Sales by Product

($ in millions)                                                          Q3'05                   Q4'05                 Q1'06              Q2'06              Q3'06
Individual Variable Annuities
    BEST of AMERICA products                                       $            720.1        $         767.6       $       912.5      $     1,116.3      $      1,096.6
    Private label annuities                                                      79.8                   82.3                73.0               96.7                94.8
    Nationwide Financial Network and other                                        1.1                    1.1                 0.9                1.0                 1.0
                            Total individual variable annuities    $            801.0        $         851.0       $       986.4      $     1,214.0      $      1,192.4

Individual Fixed Annuities                                         $            31.5         $          32.6       $        39.5      $        45.8      $         57.2
Income Products                                                    $            49.3         $          54.8       $        58.5      $        55.9      $         57.1
Advisory Services Program                                          $            65.1         $          49.2       $        62.6      $        70.1      $         47.7
                         Total individual investment sales                     946.9
                                                                   $                         $         987.6       $     1,147.0      $     1,385.8      $      1,354.4


                                                                         Individual Investments
                                                                            Sales by Channel

($ in millions)                                                          Q3'05                   Q4'05                 Q1'06              Q2'06              Q3'06
Individual Variable Annuities
    Non-affiliated
      Independent broker/dealers                                   $            309.4        $         311.5       $       347.7      $       412.6      $        403.1
      Wirehouse and regional firms                                              198.3                  197.8               220.8              274.4               312.7
      Financial institutions                                                    224.8                  250.3               318.2              410.6               383.3
      Life specialists                                                            -                      -                   0.8                -                   -
    Affiliated
      Nationwide agents                                                          48.1                   60.5                63.6               71.3                51.0
      Nationwide Financial Network                                               20.4                   30.9                35.3               45.1                42.3
                             Total individual variable annuities   $            801.0        $         851.0       $       986.4      $     1,214.0      $      1,192.4

Individual Fixed Annuities
  Non-affiliated
    Independent broker/dealers                                     $              1.9        $               1.6   $            2.6   $            2.5   $            5.4
    Wirehouse and regional firms                                                  1.2                        1.9                1.0                3.0                3.1
    Financial institutions                                                       16.3                        8.8               14.7               19.0               20.5
  Affiliated
    Nationwide agents                                                            11.0                   17.9                17.4              19.8                   24.7
    Nationwide Financial Network                                                  1.1                    2.4                 3.8               1.5                    3.5
                            Total individual fixed annuities       $             31.5        $          32.6       $        39.5      $       45.8       $           57.2

Income Products
   Non-affiliated
    Independent broker/dealers                                     $             17.6        $           20.4      $           28.1   $           28.5   $           19.5
    Wirehouse and regional firms                                                 19.0                    18.2                  17.0               15.5               25.8
    Financial institutions                                                        4.8                     8.6                   6.1                9.4                7.9
   Affiliated
    Nationwide agents                                                             3.7                    3.9                    3.6             3.1                   2.9
    Nationwide Financial Network                                                  4.2                    3.7                    3.7            (0.6)                  1.0
                                       Total income products       $             49.3        $          54.8       $           58.5   $       55.9       $           57.1

Advisory Services Program
  Non-affiliated
    Independent broker/dealers                                     $             57.7        $           44.4      $           48.0   $           60.2   $           41.3
    Financial institutions                                                        1.5                     3.2                   4.0                5.7                2.3
  Affiliated
    Nationwide Financial Network                                                  5.9                    1.6                   10.6                4.2                4.1
                           Total advisory services program         $             65.1        $          49.2       $           62.6   $           70.1   $           47.7

                           Total individual investment sales       $           946.9         $         987.6       $     1,147.0      $     1,385.8      $      1,354.4

                                                                                        10
Nationwide Financial Services, Inc.
                                                                                               Statistical Supplement
                                                                                                September 30, 2006


                                                                                          Retirement Plans
                                                                                      Quarterly Earnings Trends

($ in millions)                                                                          Q3'05                       Q4'05                    Q1'06                 Q2'06                 Q3'06
Operating Revenues
    Asset fees                                                                    $                34.2          $               34.4     $            33.9     $            33.6     $            32.9
    Administrative fees                                                                             1.8                           2.4                   2.7                  22.6                   7.9
    Surrender fees                                                                                  1.7                           1.9                   1.5                   1.1                   0.8
                                                           Total policy charges                    37.7                          38.7                  38.1                  57.3                  41.6

      Net investment income                                                                       165.7                         167.1                 164.2                 159.8                 164.7
      Other income                                                                                 68.0                          70.2                  76.3                  77.8                  80.2
                                                     Total operating revenues                     271.4                         276.0                 278.6                 294.9                 286.5

Benefits
  Interest credited                                                                               115.4                         115.6                 113.2                 113.0                 112.2

Expenses
  Commissions                                                                                      33.7                          34.3                  37.8                  36.6                  37.4
  General operating expenses                                                                       72.6                          72.8                  72.2                  78.2                  78.2
  Deferral of policy acquisition costs                                                              (9.1)                         (8.9)                 (9.4)                 (9.4)                 (8.8)
                                                                      Subtotal                     97.2                          98.2                 100.6                 105.4                 106.8

      Amortization of policy acquisition costs                                                     12.1                          11.9                  10.1                  10.9                   9.7
      Amortization of value of business acquired                                                    1.3                           0.6                   1.1                   1.2                   4.2
                                                                Total expenses                    110.6                         110.7                 111.8                 117.5                 120.7
                                                 Pre-tax operating earnings       $                45.4          $               49.7     $            53.6     $            64.4     $            53.6

Key Ratios/Statistics
  Average Account Values:
    General account                                                               $           11,010.1           $        11,151.0        $      11,241.2       $      11,050.0       $      10,909.6
    Separate account                                                                          19,342.2                    19,737.8               19,298.8              18,155.5              17,668.4
    Non insurance assets                                                                      13,023.6                    14,056.6               15,258.6              16,085.7              16,611.8
    Administration only                                                                       36,725.4                    37,508.5               39,690.3              42,162.9              43,048.9
                        Total average retirement plan account values              $           80,101.3           $        82,453.9        $      85,488.9       $      87,454.1       $      88,238.7

      Earned rate                                                                                6.02%                          5.99%                 5.84%                 5.78%                 6.03%
      Credited rate                                                                              4.19%                          4.15%                 4.03%                 4.09%                 4.11%
                    Interest spread on average general account values                            1.83%                          1.84%                 1.81%                 1.69%                 1.92%
      Prepayment penalties and bond call premium income                                          0.18%                          0.19%                 0.09%                 0.06%                 0.12%
                    Base interest spread on average general account values                       1.65%                          1.65%                 1.72%                 1.63%                 1.80%
      Asset fees to average separate account values                                               0.71%                         0.70%                 0.70%                 0.74%                 0.74%
      General operating expenses to average account values                                        0.36%                         0.35%                 0.34%                 0.36%                 0.35%
      Pre-tax operating earnings to average account values                                       0.23%                          0.24%                 0.25%                 0.29%                 0.24%
      Pre-tax operating earnings to operating revenue                                            16.7%                          18.0%                 19.2%                 21.8%                 18.7%
      Average allocated capital                                                   $               784.1          $              806.5     $           816.2     $           817.1     $           806.7
      Return on average allocated capital                                                        25.1%                          20.1%                 19.4%                 23.0%                 18.8%
                                                     (1)
      Adjusted return on average allocated capital                                               17.7%                          20.1%                 19.4%                 23.0%                 18.8%


(1)
      3Q 2005 return adjusted for $14.6 million impact of one-time tax adjustments associated with separate account dividend received deductions.


                                                                                          Retirement Plans
                                                                                        Account Value Activity

($ in millions)                                                                          Q3'05                       Q4'05                    Q1'06                 Q2'06                 Q3'06
Private Sector Pension Plans
    Balance, beginning of period                                                  $           39,324.9           $         41,235.7       $      42,906.5       $      46,249.9       $      46,650.1
        New deposits/sales                                                                      1,833.3                     1,676.4                2,327.7               1,873.8               1,828.3
        Participant withdrawals and surrenders                                                 (1,464.6)                   (1,601.7)              (1,855.7)             (1,624.0)             (1,632.6)
                                                                     Net flows                    368.7                        74.7                  472.0                 249.8                 195.7

        Investment performance/interest credited                                                1,591.8                        1,027.6            2,112.0                   (37.3)            1,310.4
        Policy charges and other                                                                  (53.5)                         (57.8)             (25.2)                  (73.1)              (66.8)
        Case acquisitions/(terminations), net                                                       3.8                          626.3              784.6                   260.8               (82.3)
      Balance, end of period                                                      $           41,235.7           $        42,906.5        $      46,249.9       $      46,650.1       $      48,007.1


Public Sector Pension Plans
  Balance, beginning of period                                                    $           38,968.6           $        40,673.4        $      40,092.0       $      41,729.2       $      40,278.9
        New deposits/sales                                                                      1,004.2                         940.3             1,020.0                    993.2            1,023.4
        Participant withdrawals and surrenders                                                   (634.2)                       (625.0)             (694.2)                  (654.2)            (567.9)
                                                                     Net flows                    370.0                         315.3               325.8                    339.0              455.5

        Investment performance/interest credited                                                1,359.3                       850.3               1,376.2                 (370.1)                 914.6
        Policy charges and other                                                                  (17.5)                      (17.4)                (18.0)                 (38.1)                 (19.0)
        Case acquisitions/(terminations), net                                                      (7.0)                   (1,729.6)                (46.8)              (1,381.1)                 (88.8)
      Balance, end of period                                                      $           40,673.4           $        40,092.0        $      41,729.2       $      40,278.9       $      41,541.2

                                     Total retirement plan account values         $           81,909.1           $        82,998.5        $      87,979.1       $      86,929.0       $      89,548.3


                                                                                                            11
Nationwide Financial Services, Inc.
                                                                          Statistical Supplement
                                                                           September 30, 2006

                                                                       Retirement Plans
                                                                   Account Values by Product

($ in millions)                                                        Q3'05                   Q4'05             Q1'06           Q2'06           Q3'06
Private Sector Pension Plans
    BEST of AMERICA annuity products                  $                    7,969.2        $       7,791.9    $     7,738.8   $     7,399.3   $     7,360.4
    BEST of AMERICA trust products                                        13,633.7               14,479.5         16,037.7        16,133.6        17,089.9
                             Subtotal BEST of AMERICA                     21,602.9               22,271.4         23,776.5        23,532.9        24,450.3
   The 401(k) Company                                                     12,215.3               13,147.7         16,349.9        17,024.0        17,405.2
   Nationwide Financial Network products                                   1,372.3                1,378.4          1,316.5         1,304.8         1,256.1
   Nationwide employee and agent benefit plans                             5,426.4                5,504.2          4,207.1         4,204.7         4,322.0
   Other                                                                     618.8                  604.8            599.9           583.7           573.5
                           Total private sector pension plans $           41,235.7        $      42,906.5    $    46,249.9   $    46,650.1   $    48,007.1

Public Sector Pension Plans
  IRC Section 457 annuities                                   $           15,321.2        $      15,790.2    $    16,148.1   $    14,908.2   $    15,243.4
  Administration only agreements                                          25,352.2               24,301.8         25,581.1        25,370.7        26,297.8
                            Total public sector pension plans $           40,673.4        $      40,092.0    $    41,729.2   $    40,278.9   $    41,541.2


                        Total retirement plan account values $            81,909.1        $      82,998.5    $    87,979.1   $    86,929.0   $    89,548.3


                                                                         Retirement Plans
                                                                         Sales by Product

($ in millions)                                                        Q3'05                   Q4'05             Q1'06           Q2'06           Q3'06
Private Sector Pension Plans
    BEST of AMERICA annuity products                  $                      335.3        $          285.8   $       351.0   $       327.8   $       291.0
    BEST of AMERICA trust products                                           947.9                   971.2         1,277.5           976.9         1,024.5
                             Subtotal BEST of AMERICA                      1,283.2                 1,257.0         1,628.5         1,304.7         1,315.5
   The 401(k) Company                                                        303.5                   288.3           535.9           422.3           365.2
   Nationwide Financial Network products                                      52.6                    58.4            56.5            40.6            42.9
   Other                                                                      25.8                    10.9            12.6            20.8            15.0
                            Total private sector pension plan $            1,665.1        $        1,614.6   $     2,233.5   $     1,788.4   $     1,738.6

Public Sector Pension Plans
  IRC Section 457 annuities                                   $              397.6        $          379.0   $       407.3   $       389.0   $       381.6
  Administration only agreements                                             606.7                   561.3           612.6           604.2           641.8
                            Total public sector pension plans $            1,004.3        $          940.3   $     1,019.9   $       993.2   $     1,023.4

                                    Total retirement plan sales $          2,669.4        $        2,554.9   $     3,253.4   $     2,781.6   $     2,762.0


                                                                         Retirement Plans
                                                                         Sales by Channel

($ in millions)                                                        Q3'05                   Q4'05             Q1'06           Q2'06           Q3'06
Private Sector Pension Plans
    Non-affiliated
      Independent broker/dealers                                $             828.6       $          770.3   $       994.7   $       810.4   $       824.6
      Wirehouse and regional firms                                            215.3                  248.4           337.0           245.8           239.7
      Financial institutions                                                  133.8                  137.2           167.7           120.4           141.2
      Pension plan administrators                                             108.2                  104.9           135.9           139.6           124.8
    Affiliated
      Nationwide Retirement Solutions                                          8.4                     8.5             8.6             8.0             7.9
      Nationwide agents                                                       39.0                    19.2            24.0            20.2            16.2
      Nationwide Financial Network                                            28.3                    37.8            29.7            21.7            19.0
      The 401(k) Company                                                     303.5                   288.3           535.9           422.3           365.2
                             Total private sector pension plans $          1,665.1        $        1,614.6   $     2,233.5   $     1,788.4   $     1,738.6

Public Sector Pension Plans
  Nationwide Retirement Solutions                              $           1,004.3        $          940.3   $     1,019.9   $       993.2   $     1,023.4

                                    Total retirement plan sales $          2,669.4        $        2,554.9   $     3,253.4   $     2,781.6   $     2,762.0


                                                                                     12
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings
NFS 2006 Q3 Financial Supplement Earnings

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NFS 2006 Q3 Financial Supplement Earnings

  • 1. 2006 Third Quarter 2006 Nationwide Financial® Statistical Supplement
  • 2. Nationwide Financial Services, Inc. Statistical Supplement September 30, 2006 This Page Intentionally Left Blank.
  • 3. Nationwide Financial Services, Inc. Statistical Supplement September 30, 2006 Table of Contents Page Quarterly Financial Highlights 1-2 NFS Financial Reporting Structure 2 Quarterly Consolidated Income Statements 4 Combining Income Statements For the three months ended September 30, 2006 5 For the three months ended September 30, 2005 6 Quarterly Consolidated Balance Sheets 8 Individual Investments Segment Quarterly earnings trends 9 Account value activity 9 Account values by product 10 Sales by product 10 Sales by channel 10 Retirement Plans Segment Quarterly earnings trends 11 Account value activity 11 Account values by product 12 Sales by product 12 Sales by channel 12 Individual Protection Segment Quarterly earnings trends 13 Policy reserves 13 Insurance in force 13 Sales by product 14 Sales by channel 14 Investment life quarterly earnings trends 15 Investment life policy reserve activity 15 Fixed life quarterly earnings trends 16 Fixed life policy reserve activity 16 Corporate and Other Segment Quarterly earnings trends 17 Medium term notes account value activity 17 Other Data Customer funds managed and administered 18 Separate account assets by segment and fund type 18 Securities available-for-sale 19 Aging of gross unrealized losses on securities available-for-sale 19 Credit quality of fixed maturity securities available-for-sale 20 Mortgage loans by region and property type 20 Deferred policy acquisition costs 21 Individual variable annuity deferred acquisition costs 22 Value of business acquired 23 Individual variable annuity guaranteed minimum death benefits 24 Individual variable annuity guaranteed minimum accumulation benefits 25 Individual variable annuity guaranteed minimum income benefits 25 Individual variable annuity guaranteed minimum withdrawal benefits 25 Individual variable annuity guaranteed minimum death benefit reserve activity 26 Individual variable annuity guaranteed minimum accumulation benefit embedded derivative activity 26 Individual fixed annuity and fixed option of variable annuity summary of crediting rate detail 26 27-40 Historical Data Glossary 41-44 Shareholder Information 45
  • 4. Nationwide Financial Services, Inc. Statistical Supplement September 30, 2006 Quarterly Financial Highlights ($ in millions except for per share data) Q3'05 Q4'05 Q1'06 Q2'06 Q3'06 Operating Revenues Individual investments $ 385.3 $ 380.1 $ 382.6 $ 373.2 $ 382.3 Retirement plans 271.4 276.0 278.6 294.9 286.5 Individual protection 331.4 339.7 338.4 333.7 338.6 Corporate and other 97.4 103.5 100.1 111.5 108.8 Total operating revenues $ 1,085.5 $ 1,099.3 $ 1,099.7 $ 1,113.3 $ 1,116.2 Net realized gains (losses) on investments, hedging (1) instruments and hedged items (14.5) 3.7 (8.1) (11.0) 5.5 Total revenues $ 1,071.0 $ 1,103.0 $ 1,091.6 $ 1,102.3 $ 1,121.7 Pre-tax Operating Earnings Individual investments $ 56.2 $ 53.4 $ 56.4 $ 52.5 $ 60.4 Retirement plans 45.4 49.7 53.6 64.4 53.6 Individual protection 63.8 59.6 64.9 60.5 71.0 Corporate and other (1.1) 22.6 11.6 16.6 21.7 Pre-tax operating earnings $ 164.3 $ 185.3 $ 186.5 $ 194.0 $ 206.7 Federal income tax expense (8.0) 33.1 42.2 (70.0) 52.0 Net operating earnings $ 172.3 $ 152.2 $ 144.3 $ 264.0 $ 154.7 Net realized gains (losses) on investments, hedging instruments and hedged items, net of taxes (1) (9.4) 2.4 (5.3) (7.2) 3.6 Adjustment to amortization related to net realized gains (losses), net of taxes 2.9 0.1 3.3 1.0 1.2 Discontinued operations, net of taxes 0.9 (24.4) - - - Net income $ 166.7 $ 130.3 $ 142.3 $ 257.8 $ 159.5 Per Diluted Share Net operating earnings $ 1.12 $ 0.99 $ 0.94 $ 1.76 $ 1.03 Net realized gains (losses) on investments, hedging (1) (0.07) 0.02 (0.03) (0.05) 0.02 instruments and hedged items, net of taxes Adjustment to amortization related to net realized gains (losses), net of taxes 0.02 - 0.02 0.01 0.01 Discontinued operations, net of taxes 0.01 (0.16) - - - Net income $ 1.08 $ 0.85 $ 0.93 $ 1.72 $ 1.06 Sales by Channel Non-affiliated Independent broker/dealers $ 1,280.4 $ 1,207.9 $ 1,487.8 $ 1,380.7 $ 1,363.9 Wirehouse and regional firms 449.1 482.3 590.1 555.6 596.4 Financial institutions 398.8 424.3 523.7 580.7 570.1 Pension plan administrators 108.2 104.9 135.9 139.6 124.8 Life specialists 82.5 69.0 172.6 84.0 46.3 Affiliated Nationwide Retirement Solutions 1,012.7 948.8 1,028.5 1,001.2 1,031.3 Nationwide agents 188.8 207.2 196.4 203.1 186.6 Nationwide Financial Network 160.2 181.6 185.7 171.0 168.3 The 401(k) Company 303.5 288.3 535.9 422.3 365.2 TBG Financial 92.3 36.0 110.4 62.7 21.4 Total $ 4,076.5 $ 3,950.3 $ 4,967.0 $ 4,600.9 $ 4,474.3 (1) Excluding operating items (periodic net coupon settlements on non-qualifying derivatives, trading portfolio realized gains and losses, trading portfolio valuation changes, and net realized gains and losses related to securitizations). Note: All prior periods have been reclassified to reflect NFS Bermuda and TBG Lynch (a subsidiary of TBG Financial) as discontinued operations. 1
  • 5. Nationwide Financial Services, Inc. Statistical Supplement September 30, 2006 Quarterly Financial Highlights ($ in millions except for per share data) Q3'05 Q4'05 Q1'06 Q2'06 Q3'06 Balance Sheet Data Total assets $ 117,421.3 $ 116,159.9 $ 116,558.7 $ 113,083.0 $ 114,880.0 Customer funds managed and administered $ 155,650.6 $ 155,612.9 $ 162,451.7 $ 160,051.6 $ 163,240.5 Shareholders' equity (1) Including accumulated other comprehensive income (AOCI) $ 5,375.6 $ 5,350.4 $ 5,126.2 $ 5,236.8 $ 5,630.0 AOCI 196.1 100.7 (77.9) (202.0) 47.8 Excluding AOCI $ 5,179.5 $ 5,249.7 $ 5,204.1 $ 5,438.8 $ 5,582.2 Net operating return on average equity excluding AOCI 13.5% 11.7% 11.0% 19.8% 11.2% (2) Adjusted net operating return on average equity excluding AOCI 11.2% 11.7% 11.0% 11.4% 11.2% Statutory capital and surplus $ 3,305.9 $ 3,262.1 $ 3,279.3 $ 3,437.4 $ 3,504.2 Stock Data Closing Price $ 40.05 $ 44.00 $ 43.02 $ 44.08 $ 48.10 Weighted average shares outstanding Basic 153.1 152.9 152.3 149.2 149.5 Diluted 153.9 153.6 152.9 149.9 150.3 Book value per share Including AOCI $ 35.09 $ 35.08 $ 34.40 $ 35.08 $ 37.61 Excluding AOCI $ 33.81 $ 34.42 $ 34.93 $ 36.43 $ 37.29 (1) Includes changes in fair value of certain investments and derivatives under SFAS 115 and SFAS 133. (2) 3Q 2005 return adjusted for $42.6 million impact of one-time tax adjustments associated with separate account dividend received deductions and $14.1 million charge related to calling of trust preferred securities. 2Q 2006 return adjusted for $113.1 million of released tax reserves and associated tax-related adjustments relating to prior tax years. Note: All prior periods have been reclassified to reflect NFS Bermuda and TBG Lynch (a subsidiary of TBG Financial) as discontinued operations. NFS Operating Segment Reporting Structure NATIONWIDE FINANCIAL SERVICES, INC. Individual Retirement Individual Corporate Investments Plans Protection & Other Variable Annuities Public Sector - 457 Fixed Life Medium Term Notes Universal Fixed Annuities Private Sector – 401(k) Structured Products Whole Term Income Products Corporate Other Investment Life Variable Universal Advisory Services COLI 2
  • 6. Nationwide Financial Services, Inc. Statistical Supplement September 30, 2006 This Page Intentionally Left Blank. 3
  • 7. Nationwide Financial Services, Inc. Statistical Supplement September 30, 2006 Quarterly Consolidated Income Statements ($ in millions) Q3'05 Q4'05 Q1'06 Q2'06 Q3'06 Operating Revenues Asset fees $ 163.1 $ 163.0 $ 168.9 $ 170.0 $ 169.2 Cost of insurance charges 97.8 97.5 98.9 100.2 100.6 Administrative fees 29.6 27.7 30.2 47.2 36.2 Surrender fees 24.1 22.6 23.0 20.2 21.6 Total policy charges 314.6 310.8 321.0 337.6 327.6 Traditional life and immediate annuity premiums 97.2 107.1 107.8 109.7 110.5 Net investment income 592.8 587.9 577.3 572.1 577.9 Operating realized gains (losses) 0.5 1.1 1.3 1.1 4.1 Other income 80.4 92.4 92.3 92.8 96.1 Total operating revenues 1,085.5 1,099.3 1,099.7 1,113.3 1,116.2 Benefits Interest credited 350.6 347.7 342.1 345.7 348.2 Life insurance and annuity benefits 142.9 149.9 156.1 156.4 163.8 Policyholder dividends 27.1 27.0 20.2 24.5 24.6 Total benefits 520.6 524.6 518.4 526.6 536.6 Expenses Commissions 130.2 140.1 153.1 160.4 160.7 General operating expenses 198.9 209.3 213.4 214.6 201.0 Debt extinguishment costs 21.7 - - - - Deferral of policy acquisition costs (112.4) (120.8) (135.1) (147.4) (138.8) Subtotal 238.4 228.6 231.4 227.6 222.9 Amortization of policy acquisition costs 122.9 123.7 125.7 127.5 109.8 Amortization of value of business acquired 11.3 10.0 11.6 12.5 14.9 Interest expense on debt 28.0 27.1 26.1 25.1 25.3 Total expenses 400.6 389.4 394.8 392.7 372.9 Pre-tax operating earnings $ 164.3 $ 185.3 $ 186.5 $ 194.0 $ 206.7 Federal income tax expense (8.0) 33.1 42.2 (70.0) 52.0 Net operating earnings $ 172.3 $ 152.2 $ 144.3 $ 264.0 $ 154.7 Net realized gains (losses) on investments, hedging instruments and hedged items, net of taxes (1) Realized gains on sales, net of hedging 8.4 20.5 7.3 11.0 10.2 Realized losses on sales, net of hedging (3.3) (7.9) (12.9) (19.1) (4.4) Other-than-temporary impairments, including mortgage loan valuation allowance adjustment (12.6) (7.5) (0.6) (2.5) (2.9) Credit default swaps (2.8) (0.4) (0.1) (0.1) (0.1) Derivatives, excluding hedging gains and losses on sales and credit default swaps 1.4 (1.9) 0.5 3.4 0.3 Amounts credited to policyholder dividend obligation (2.1) 0.3 0.1 (0.7) 0.5 Adjustment to VOBA amortization 1.6 (0.7) 0.4 0.8 - Subtotal (9.4) 2.4 (5.3) (7.2) 3.6 Adjustment to amortization related to net realized gains (losses), net of taxes 2.9 0.1 3.3 1.0 1.2 Discontinued operations, net of taxes 0.9 (24.4) - - - Net income $ 166.7 $ 130.3 $ 142.3 $ 257.8 $ 159.5 (1) Excluding operating items (periodic net coupon settlements on non-qualifying derivatives, trading portfolio realized gains and losses, trading portfolio valuation changes, and net realized gains and losses related to securitizations). Note: All prior periods have been reclassified to reflect NFS Bermuda and TBG Lynch (a subsidiary of TBG Financial) as discontinued operations. 4
  • 8. Nationwide Financial Services, Inc. Statistical Supplement September 30, 2006 Combining Income Statement For the three months ended September 30, 2006 Individual Retirement Individual Corporate ($ in millions) Investments Plans Protection and Other Total Operating Revenues Asset fees $ 125.2 $ 32.9 $ 11.1 $ - $ 169.2 Cost of insurance charges - - 100.6 - 100.6 Administrative fees 5.5 7.9 22.8 - 36.2 Surrender fees 14.7 0.8 6.1 - 21.6 Total policy charges 145.4 41.6 140.6 - 327.6 Traditional life and immediate annuity premiums 37.3 - 73.2 - 110.5 Net investment income 199.1 164.7 118.6 95.5 577.9 Operating realized gains (losses) - - - 4.1 4.1 Other income 0.5 80.2 6.2 9.2 96.1 Total operating revenues 382.3 286.5 338.6 108.8 1,116.2 Benefits Interest credited 131.5 112.2 49.5 55.0 348.2 Life insurance and annuity benefits 55.5 - 108.3 - 163.8 Policyholder dividends - - 24.6 - 24.6 Total benefits 187.0 112.2 182.4 55.0 536.6 Expenses Commissions 86.0 37.4 29.9 7.4 160.7 General operating expenses 54.5 78.2 68.8 (0.5) 201.0 Deferral of policy acquisition costs (86.9) (8.8) (43.1) - (138.8) Subtotal 53.6 106.8 55.6 6.9 222.9 Amortization of policy acquisition costs 79.5 9.7 20.6 - 109.8 Amortization of value of business acquired 1.8 4.2 8.9 - 14.9 Interest expense on debt - - 0.1 25.2 25.3 Total expenses 134.9 120.7 85.2 32.1 372.9 Pre-tax operating earnings $ 60.4 $ 53.6 $ 71.0 $ 21.7 $ 206.7 Federal income tax expense 52.0 Net operating earnings $ 154.7 Net realized gains (losses) on investments, hedging instruments and hedged items, net of taxes (1) Realized gains on sales, net of hedging 10.2 Realized losses on sales, net of hedging (4.4) Other-than-temporary impairments, including mortgage loan valuation allowance adjustment (2.9) Credit default swaps (0.1) Derivatives, excluding hedging gains and losses on sales and credit default swaps 0.3 Amounts credited to policyholder dividend obligation 0.5 Adjustment to VOBA amortization - Subtotal 3.6 Adjustment to amortization related to net realized gains (losses), net of taxes 1.2 Discontinued operations, net of taxes - Net income $ 159.5 (1) Excluding operating items (periodic net coupon settlements on non-qualifying derivatives, trading portfolio realized gains and losses, trading portfolio valuation changes, and net realized gains and losses related to securitizations). 5
  • 9. Nationwide Financial Services, Inc. Statistical Supplement September 30, 2006 Combining Income Statement For the three months ended September 30, 2005 Individual Retirement Individual Corporate ($ in millions) Investments Plans Protection and Other Total Operating Revenues Asset fees $ 118.5 $ 34.2 $ 10.4 $ - $ 163.1 Cost of insurance charges - - 97.8 - 97.8 Administrative fees 4.1 1.8 23.7 - 29.6 Surrender fees 16.0 1.7 6.4 - 24.1 Total policy charges 138.6 37.7 138.3 - 314.6 Traditional life and immediate annuity premiums 26.4 - 70.8 - 97.2 Net investment income 219.9 165.7 117.1 90.1 592.8 Operating realized gains (losses) - - - 0.5 0.5 Other income 0.4 68.0 5.2 6.8 80.4 Total operating revenues 385.3 271.4 331.4 97.4 1,085.5 Benefits Interest credited 148.2 115.4 48.0 39.0 350.6 Life insurance and annuity benefits 37.3 - 105.6 - 142.9 Policyholder dividends - - 27.1 - 27.1 Total benefits 185.5 115.4 180.7 39.0 520.6 Expenses Commissions 62.4 33.7 27.9 6.2 130.2 General operating expenses 47.3 72.6 75.3 3.7 198.9 Debt extinguishment costs - - - 21.7 21.7 Deferral of policy acquisition costs (59.9) (9.1) (43.4) - (112.4) Subtotal 49.8 97.2 59.8 31.6 238.4 Amortization of policy acquisition costs 92.2 12.1 18.6 - 122.9 Amortization of value of business acquired 1.6 1.3 8.4 - 11.3 Interest expense on debt - - 0.1 27.9 28.0 Total expenses 143.6 110.6 86.9 59.5 400.6 Pre-tax operating earnings $ 56.2 $ 45.4 $ 63.8 $ (1.1) $ 164.3 Federal income tax expense (8.0) Net operating earnings $ 172.3 Net realized gains (losses) on investments, hedging instruments and hedged items, net of taxes (1) Realized gains on sales, net of hedging 8.4 Realized losses on sales, net of hedging (3.3) Other-than-temporary impairments, including mortgage loan valuation allowance adjustment (12.6) Credit default swaps (2.8) Derivatives, excluding hedging gains and losses on sales and credit default swaps 1.4 Amounts credited to policyholder dividend obligation (2.1) Adjustment to VOBA amortization 1.6 Subtotal (9.4) Adjustment to amortization related to net realized gains (losses), net of taxes 2.9 Discontinued operations, net of taxes 0.9 Net income $ 166.7 (1) Excluding operating items (periodic net coupon settlements on non-qualifying derivatives, trading portfolio realized gains and losses, trading portfolio valuation changes, and net realized gains and losses related to securitizations). Note: All prior periods have been reclassified to reflect NFS Bermuda and TBG Lynch (a subsidiary of TBG Financial) as discontinued operations. 6
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  • 11. Nationwide Financial Services, Inc. Statistical Supplement September 30, 2006 Quarterly Consolidated Balance Sheets ($ in millions, except per share data) Q3'05 Q4'05 Q1'06 Q2'06 Q3'06 Assets Investments Securities available-for-sale: Fixed maturity securities $ 31,092.2 $ 30,106.0 $ 28,645.0 $ 27,980.9 $ 28,579.0 Equity securities 78.6 75.6 76.5 63.2 65.2 Trading assets 34.7 34.4 27.8 21.0 22.8 Mortgage loans 9,332.5 9,148.6 9,048.3 9,060.7 8,981.2 Real estate 107.7 108.7 108.6 108.4 104.8 Policy loans 935.6 930.6 933.9 948.3 957.7 Other long-term investments 617.6 691.9 688.9 687.4 680.6 Short-term investments 2,104.2 2,073.2 2,830.5 2,169.7 1,917.4 Total investments 44,303.1 43,169.0 42,359.5 41,039.6 41,308.7 Cash 47.6 16.4 23.9 23.6 12.9 Accrued investment income 436.8 396.3 398.9 388.7 412.6 Deferred policy acquisition costs 3,710.4 3,685.4 3,794.7 3,875.6 3,783.5 Value of business acquired 457.7 449.7 443.3 405.2 399.1 Other intangible assets 46.1 45.6 45.4 44.9 44.2 Goodwill 389.6 364.5 359.0 359.0 359.0 Other assets 2,227.5 2,069.2 2,200.3 2,117.3 2,433.2 Assets held in separate accounts 65,802.5 65,963.8 66,933.7 64,829.1 66,126.8 Total assets $ 117,421.3 $ 116,159.9 $ 116,558.7 $ 113,083.0 $ 114,880.0 Liabilities and shareholders' equity Future policy benefits and claims $ 40,787.4 $ 39,748.1 $ 39,519.4 $ 38,451.3 $ 38,131.9 Short-term debt 391.2 252.3 147.4 189.8 88.6 Long-term debt 1,406.0 1,398.0 1,398.3 1,398.4 1,398.1 Other liabilities 3,658.6 3,447.3 3,433.7 2,977.6 3,504.6 Liabilities related to separate accounts 65,802.5 65,963.8 66,933.7 64,829.1 66,126.8 112,045.7 110,809.5 111,432.5 107,846.2 109,250.0 Shareholders' equity 5,375.6 5,350.4 5,126.2 5,236.8 5,630.0 Total liabilities and shareholders' equity $ 117,421.3 $ 116,159.9 $ 116,558.7 $ 113,083.0 $ 114,880.0 Capital Structure ($ in millions) Q3'05 Q4'05 Q1'06 Q2'06 Q3'06 Total capital, including AOCI $ 6,781.6 $ 6,748.4 $ 6,524.5 $ 6,635.2 $ 7,028.1 Less AOCI 196.1 100.7 (77.9) (202.0) 47.8 Total capital, excluding AOCI $ 6,585.5 $ 6,647.7 $ 6,602.4 $ 6,837.2 $ 6,980.3 Leverage, including AOCI Long-term debt--to--total capital 20.7% 20.7% 21.4% 21.1% 19.9% Leverage, excluding AOCI Long-term debt--to--total capital 21.3% 21.0% 21.2% 20.5% 20.0% Ratio of pre-tax operating earnings before interest expense to interest expense 6.9X 7.8X 8.1X 8.7X 9.2X 8
  • 12. Nationwide Financial Services, Inc. Statistical Supplement September 30, 2006 Individual Investments Quarterly Earnings Trends ($ in millions) Q3'05 Q4'05 Q1'06 Q2'06 Q3'06 Operating Revenues Asset fees $ 118.5 $ 118.1 $ 124.0 $ 125.0 $ 125.2 Administrative fees 4.1 4.3 4.6 4.9 5.5 Surrender fees 16.0 14.2 15.2 14.2 14.7 Total policy charges 138.6 136.6 143.8 144.1 145.4 Net Investment Income General account assets 226.4 220.3 212.7 200.0 205.9 Charge for invested capital (6.5) (6.9) (6.3) (6.1) (6.8) Total net investment income 219.9 213.4 206.4 193.9 199.1 Premiums on income products 26.4 29.7 31.9 34.6 37.3 Other income 0.4 0.4 0.5 0.6 0.5 Total operating revenues 385.3 380.1 382.6 373.2 382.3 Benefits Interest credited 148.2 144.5 137.7 132.7 131.5 Immediate annuity benefits 22.7 25.7 28.5 30.4 31.7 Policy benefits 14.6 16.3 12.5 19.2 23.8 Total benefits 185.5 186.5 178.7 182.3 187.0 Expenses Commissions 62.4 65.7 73.6 86.2 86.0 General operating expenses 47.3 50.7 48.4 56.0 54.5 Deferral of policy acquisition costs (59.9) (62.0) (74.4) (90.8) (86.9) Subtotal 49.8 54.4 47.6 51.4 53.6 Amortization of policy acquisition costs 92.2 83.7 97.6 84.8 79.5 Amortization of value of business acquired 1.6 2.1 2.3 2.2 1.8 Total expenses 143.6 140.2 147.5 138.4 134.9 Pre-tax operating earnings $ 56.2 $ 53.4 $ 56.4 $ 52.5 $ 60.4 Key Ratios/Statistics Average Account Values: General account $ 16,110.5 $ 15,515.1 $ 14,825.4 $ 14,374.0 $ 13,824.3 Separate account 35,669.0 35,975.9 36,504.3 36,815.8 36,824.2 Advisory services program 345.3 393.7 443.3 491.6 528.7 Total average individual investments account values $ 52,124.8 $ 51,884.7 $ 51,773.0 $ 51,681.4 $ 51,177.2 Earned rate 5.62% 5.68% 5.74% 5.56% 5.95% Credited rate 3.68% 3.73% 3.72% 3.69% 3.80% Interest spread on average general account values 1.94% 1.95% 2.02% 1.87% 2.15% Prepayment penalties and bond call premium income 0.30% 0.19% 0.11% 0.09% 0.24% Base interest spread on average general account values 1.64% 1.76% 1.91% 1.78% 1.91% Asset fees to average separate account values 1.33% 1.31% 1.36% 1.36% 1.36% General operating expenses to average account values 0.36% 0.39% 0.37% 0.43% 0.43% Pre-tax operating earnings to average account values 0.43% 0.41% 0.44% 0.41% 0.47% Pre-tax operating earnings to operating revenues 14.6% 14.0% 14.7% 14.1% 15.8% Average allocated capital $ 1,689.8 $ 1,649.3 $ 1,563.0 $ 1,504.3 $ 1,467.4 Return on average allocated capital 16.7% 12.1% 11.9% 11.8% 13.1% Adjusted return on average allocated capital (1) 10.9% 12.1% 11.9% 11.8% 13.1% (1) 3Q 2005 return adjusted for $24.3 million impact of one-time tax adjustments associated with separate account dividend received deductions. Note: All prior periods have been reclassified to reflect NFS Bermuda as discontinued operations. Individual Investments Account Value Activity ($ in millions) Q3'05 Q4'05 Q1'06 Q2'06 Q3'06 Individual Variable Annuities Balance, beginning of period $ 40,726.4 $ 41,651.8 $ 40,796.0 $ 42,071.5 $ 41,140.7 Deposits 870.2 903.5 1,045.0 1,279.9 1,263.4 Withdrawals and surrenders (1,429.5) (1,456.8) (1,535.4) (1,479.4) (1,554.2) Net flows (559.3) (553.3) (490.4) (199.5) (290.8) Investment performance/interest credited 1,615.9 971.1 1,903.4 (605.1) 1,070.8 Policy charges (138.9) (137.6) (140.6) (141.3) (141.2) Benefits and other 7.7 24.6 3.1 15.1 (8.4) Acquisitions/(terminations), net - (1,160.6) - - - Balance, end of period $ 41,651.8 $ 40,796.0 $ 42,071.5 $ 41,140.7 $ 41,771.1 Individual Fixed Annuities Balance, beginning of period $ 8,731.8 $ 8,559.3 $ 8,041.8 $ 7,746.6 $ 7,425.0 Deposits 27.4 31.0 38.6 42.7 53.3 Withdrawals and surrenders (274.0) (330.0) (400.9) (437.5) (534.1) Net flows (246.6) (299.0) (362.3) (394.8) (480.8) Policyholder interest credited 82.8 77.6 73.4 79.2 68.2 Policy charges (3.2) (2.6) (2.8) (2.5) (3.1) Benefits and other (5.5) (3.9) (3.5) (3.5) (13.7) Acquisitions/(terminations), net - (289.6) - - - Balance, end of period $ 8,559.3 $ 8,041.8 $ 7,746.6 $ 7,425.0 $ 6,995.6 Income Products $ 1,954.7 $ 1,978.3 $ 2,025.1 $ 1,970.6 $ 1,994.0 Advisory services program $ 375.9 $ 411.5 $ 475.0 $ 508.1 $ 549.2 Total individual investment account values $ 52,541.7 $ 51,227.6 $ 52,318.2 $ 51,044.4 $ 51,309.9 9
  • 13. Nationwide Financial Services, Inc. Statistical Supplement September 30, 2006 Individual Investments Account Values by Product ($ in millions) Q3'05 Q4'05 Q1'06 Q2'06 Q3'06 Individual Variable Annuities BEST of AMERICA products $ 33,989.0 $ 32,937.0 $ 34,117.5 $ 33,495.1 $ 34,215.3 Private label annuities 7,178.4 7,398.9 7,505.5 7,243.9 7,171.5 Nationwide Financial Network and other 484.4 460.1 448.5 401.7 384.3 Total individual variable annuities $ 41,651.8 $ 40,796.0 $ 42,071.5 $ 41,140.7 $ 41,771.1 Individual Fixed Annuities $ 8,559.3 $ 8,041.8 $ 7,746.6 $ 7,425.0 $ 6,995.6 Income Products $ 1,954.7 $ 1,978.3 $ 2,025.1 $ 1,970.6 $ 1,994.0 Advisory Services Program $ 375.9 $ 411.5 $ 475.0 $ 508.1 $ 549.2 Total individual investment account values $ 52,541.7 $ 51,227.6 $ 52,318.2 $ 51,044.4 $ 51,309.9 Individual Investments Sales by Product ($ in millions) Q3'05 Q4'05 Q1'06 Q2'06 Q3'06 Individual Variable Annuities BEST of AMERICA products $ 720.1 $ 767.6 $ 912.5 $ 1,116.3 $ 1,096.6 Private label annuities 79.8 82.3 73.0 96.7 94.8 Nationwide Financial Network and other 1.1 1.1 0.9 1.0 1.0 Total individual variable annuities $ 801.0 $ 851.0 $ 986.4 $ 1,214.0 $ 1,192.4 Individual Fixed Annuities $ 31.5 $ 32.6 $ 39.5 $ 45.8 $ 57.2 Income Products $ 49.3 $ 54.8 $ 58.5 $ 55.9 $ 57.1 Advisory Services Program $ 65.1 $ 49.2 $ 62.6 $ 70.1 $ 47.7 Total individual investment sales 946.9 $ $ 987.6 $ 1,147.0 $ 1,385.8 $ 1,354.4 Individual Investments Sales by Channel ($ in millions) Q3'05 Q4'05 Q1'06 Q2'06 Q3'06 Individual Variable Annuities Non-affiliated Independent broker/dealers $ 309.4 $ 311.5 $ 347.7 $ 412.6 $ 403.1 Wirehouse and regional firms 198.3 197.8 220.8 274.4 312.7 Financial institutions 224.8 250.3 318.2 410.6 383.3 Life specialists - - 0.8 - - Affiliated Nationwide agents 48.1 60.5 63.6 71.3 51.0 Nationwide Financial Network 20.4 30.9 35.3 45.1 42.3 Total individual variable annuities $ 801.0 $ 851.0 $ 986.4 $ 1,214.0 $ 1,192.4 Individual Fixed Annuities Non-affiliated Independent broker/dealers $ 1.9 $ 1.6 $ 2.6 $ 2.5 $ 5.4 Wirehouse and regional firms 1.2 1.9 1.0 3.0 3.1 Financial institutions 16.3 8.8 14.7 19.0 20.5 Affiliated Nationwide agents 11.0 17.9 17.4 19.8 24.7 Nationwide Financial Network 1.1 2.4 3.8 1.5 3.5 Total individual fixed annuities $ 31.5 $ 32.6 $ 39.5 $ 45.8 $ 57.2 Income Products Non-affiliated Independent broker/dealers $ 17.6 $ 20.4 $ 28.1 $ 28.5 $ 19.5 Wirehouse and regional firms 19.0 18.2 17.0 15.5 25.8 Financial institutions 4.8 8.6 6.1 9.4 7.9 Affiliated Nationwide agents 3.7 3.9 3.6 3.1 2.9 Nationwide Financial Network 4.2 3.7 3.7 (0.6) 1.0 Total income products $ 49.3 $ 54.8 $ 58.5 $ 55.9 $ 57.1 Advisory Services Program Non-affiliated Independent broker/dealers $ 57.7 $ 44.4 $ 48.0 $ 60.2 $ 41.3 Financial institutions 1.5 3.2 4.0 5.7 2.3 Affiliated Nationwide Financial Network 5.9 1.6 10.6 4.2 4.1 Total advisory services program $ 65.1 $ 49.2 $ 62.6 $ 70.1 $ 47.7 Total individual investment sales $ 946.9 $ 987.6 $ 1,147.0 $ 1,385.8 $ 1,354.4 10
  • 14. Nationwide Financial Services, Inc. Statistical Supplement September 30, 2006 Retirement Plans Quarterly Earnings Trends ($ in millions) Q3'05 Q4'05 Q1'06 Q2'06 Q3'06 Operating Revenues Asset fees $ 34.2 $ 34.4 $ 33.9 $ 33.6 $ 32.9 Administrative fees 1.8 2.4 2.7 22.6 7.9 Surrender fees 1.7 1.9 1.5 1.1 0.8 Total policy charges 37.7 38.7 38.1 57.3 41.6 Net investment income 165.7 167.1 164.2 159.8 164.7 Other income 68.0 70.2 76.3 77.8 80.2 Total operating revenues 271.4 276.0 278.6 294.9 286.5 Benefits Interest credited 115.4 115.6 113.2 113.0 112.2 Expenses Commissions 33.7 34.3 37.8 36.6 37.4 General operating expenses 72.6 72.8 72.2 78.2 78.2 Deferral of policy acquisition costs (9.1) (8.9) (9.4) (9.4) (8.8) Subtotal 97.2 98.2 100.6 105.4 106.8 Amortization of policy acquisition costs 12.1 11.9 10.1 10.9 9.7 Amortization of value of business acquired 1.3 0.6 1.1 1.2 4.2 Total expenses 110.6 110.7 111.8 117.5 120.7 Pre-tax operating earnings $ 45.4 $ 49.7 $ 53.6 $ 64.4 $ 53.6 Key Ratios/Statistics Average Account Values: General account $ 11,010.1 $ 11,151.0 $ 11,241.2 $ 11,050.0 $ 10,909.6 Separate account 19,342.2 19,737.8 19,298.8 18,155.5 17,668.4 Non insurance assets 13,023.6 14,056.6 15,258.6 16,085.7 16,611.8 Administration only 36,725.4 37,508.5 39,690.3 42,162.9 43,048.9 Total average retirement plan account values $ 80,101.3 $ 82,453.9 $ 85,488.9 $ 87,454.1 $ 88,238.7 Earned rate 6.02% 5.99% 5.84% 5.78% 6.03% Credited rate 4.19% 4.15% 4.03% 4.09% 4.11% Interest spread on average general account values 1.83% 1.84% 1.81% 1.69% 1.92% Prepayment penalties and bond call premium income 0.18% 0.19% 0.09% 0.06% 0.12% Base interest spread on average general account values 1.65% 1.65% 1.72% 1.63% 1.80% Asset fees to average separate account values 0.71% 0.70% 0.70% 0.74% 0.74% General operating expenses to average account values 0.36% 0.35% 0.34% 0.36% 0.35% Pre-tax operating earnings to average account values 0.23% 0.24% 0.25% 0.29% 0.24% Pre-tax operating earnings to operating revenue 16.7% 18.0% 19.2% 21.8% 18.7% Average allocated capital $ 784.1 $ 806.5 $ 816.2 $ 817.1 $ 806.7 Return on average allocated capital 25.1% 20.1% 19.4% 23.0% 18.8% (1) Adjusted return on average allocated capital 17.7% 20.1% 19.4% 23.0% 18.8% (1) 3Q 2005 return adjusted for $14.6 million impact of one-time tax adjustments associated with separate account dividend received deductions. Retirement Plans Account Value Activity ($ in millions) Q3'05 Q4'05 Q1'06 Q2'06 Q3'06 Private Sector Pension Plans Balance, beginning of period $ 39,324.9 $ 41,235.7 $ 42,906.5 $ 46,249.9 $ 46,650.1 New deposits/sales 1,833.3 1,676.4 2,327.7 1,873.8 1,828.3 Participant withdrawals and surrenders (1,464.6) (1,601.7) (1,855.7) (1,624.0) (1,632.6) Net flows 368.7 74.7 472.0 249.8 195.7 Investment performance/interest credited 1,591.8 1,027.6 2,112.0 (37.3) 1,310.4 Policy charges and other (53.5) (57.8) (25.2) (73.1) (66.8) Case acquisitions/(terminations), net 3.8 626.3 784.6 260.8 (82.3) Balance, end of period $ 41,235.7 $ 42,906.5 $ 46,249.9 $ 46,650.1 $ 48,007.1 Public Sector Pension Plans Balance, beginning of period $ 38,968.6 $ 40,673.4 $ 40,092.0 $ 41,729.2 $ 40,278.9 New deposits/sales 1,004.2 940.3 1,020.0 993.2 1,023.4 Participant withdrawals and surrenders (634.2) (625.0) (694.2) (654.2) (567.9) Net flows 370.0 315.3 325.8 339.0 455.5 Investment performance/interest credited 1,359.3 850.3 1,376.2 (370.1) 914.6 Policy charges and other (17.5) (17.4) (18.0) (38.1) (19.0) Case acquisitions/(terminations), net (7.0) (1,729.6) (46.8) (1,381.1) (88.8) Balance, end of period $ 40,673.4 $ 40,092.0 $ 41,729.2 $ 40,278.9 $ 41,541.2 Total retirement plan account values $ 81,909.1 $ 82,998.5 $ 87,979.1 $ 86,929.0 $ 89,548.3 11
  • 15. Nationwide Financial Services, Inc. Statistical Supplement September 30, 2006 Retirement Plans Account Values by Product ($ in millions) Q3'05 Q4'05 Q1'06 Q2'06 Q3'06 Private Sector Pension Plans BEST of AMERICA annuity products $ 7,969.2 $ 7,791.9 $ 7,738.8 $ 7,399.3 $ 7,360.4 BEST of AMERICA trust products 13,633.7 14,479.5 16,037.7 16,133.6 17,089.9 Subtotal BEST of AMERICA 21,602.9 22,271.4 23,776.5 23,532.9 24,450.3 The 401(k) Company 12,215.3 13,147.7 16,349.9 17,024.0 17,405.2 Nationwide Financial Network products 1,372.3 1,378.4 1,316.5 1,304.8 1,256.1 Nationwide employee and agent benefit plans 5,426.4 5,504.2 4,207.1 4,204.7 4,322.0 Other 618.8 604.8 599.9 583.7 573.5 Total private sector pension plans $ 41,235.7 $ 42,906.5 $ 46,249.9 $ 46,650.1 $ 48,007.1 Public Sector Pension Plans IRC Section 457 annuities $ 15,321.2 $ 15,790.2 $ 16,148.1 $ 14,908.2 $ 15,243.4 Administration only agreements 25,352.2 24,301.8 25,581.1 25,370.7 26,297.8 Total public sector pension plans $ 40,673.4 $ 40,092.0 $ 41,729.2 $ 40,278.9 $ 41,541.2 Total retirement plan account values $ 81,909.1 $ 82,998.5 $ 87,979.1 $ 86,929.0 $ 89,548.3 Retirement Plans Sales by Product ($ in millions) Q3'05 Q4'05 Q1'06 Q2'06 Q3'06 Private Sector Pension Plans BEST of AMERICA annuity products $ 335.3 $ 285.8 $ 351.0 $ 327.8 $ 291.0 BEST of AMERICA trust products 947.9 971.2 1,277.5 976.9 1,024.5 Subtotal BEST of AMERICA 1,283.2 1,257.0 1,628.5 1,304.7 1,315.5 The 401(k) Company 303.5 288.3 535.9 422.3 365.2 Nationwide Financial Network products 52.6 58.4 56.5 40.6 42.9 Other 25.8 10.9 12.6 20.8 15.0 Total private sector pension plan $ 1,665.1 $ 1,614.6 $ 2,233.5 $ 1,788.4 $ 1,738.6 Public Sector Pension Plans IRC Section 457 annuities $ 397.6 $ 379.0 $ 407.3 $ 389.0 $ 381.6 Administration only agreements 606.7 561.3 612.6 604.2 641.8 Total public sector pension plans $ 1,004.3 $ 940.3 $ 1,019.9 $ 993.2 $ 1,023.4 Total retirement plan sales $ 2,669.4 $ 2,554.9 $ 3,253.4 $ 2,781.6 $ 2,762.0 Retirement Plans Sales by Channel ($ in millions) Q3'05 Q4'05 Q1'06 Q2'06 Q3'06 Private Sector Pension Plans Non-affiliated Independent broker/dealers $ 828.6 $ 770.3 $ 994.7 $ 810.4 $ 824.6 Wirehouse and regional firms 215.3 248.4 337.0 245.8 239.7 Financial institutions 133.8 137.2 167.7 120.4 141.2 Pension plan administrators 108.2 104.9 135.9 139.6 124.8 Affiliated Nationwide Retirement Solutions 8.4 8.5 8.6 8.0 7.9 Nationwide agents 39.0 19.2 24.0 20.2 16.2 Nationwide Financial Network 28.3 37.8 29.7 21.7 19.0 The 401(k) Company 303.5 288.3 535.9 422.3 365.2 Total private sector pension plans $ 1,665.1 $ 1,614.6 $ 2,233.5 $ 1,788.4 $ 1,738.6 Public Sector Pension Plans Nationwide Retirement Solutions $ 1,004.3 $ 940.3 $ 1,019.9 $ 993.2 $ 1,023.4 Total retirement plan sales $ 2,669.4 $ 2,554.9 $ 3,253.4 $ 2,781.6 $ 2,762.0 12