2011 loss: $793 million
The outlook was cloudy for Nationwide Mutual Insurance last year. Hurricane Irene devastated swathes of the Northeast and record numbers of tornadoes ripped through the south. The run of record-breaking extreme weather forced the company to pay out $2.3 billion in weather related claims in 2011, its highest tally ever, and nearly double the year before. Nationwide paid out a total of $13.2 billion in claims last year.
Other winds buffeting the company's balance sheets included its investments tied to interest rates. Its financial services business did well, however, making record sales of variable annuities. This year, the company is expanding eastward with the acquisition of Harleysville Mutual Insurance Company. Now it just has to hope the skies there stay blue.
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