Nationwide's annuity president announces retirement

COLUMBUS, Ohio, April 24 -- Nationwide Mutual Insurance issued the following news:

By Mike Switzer

After a nearly four-decade transformative career at Nationwide, Eric Henderson, president of Nationwide's annuity business, has shared plans to retire at the end of the year. Henderson has led Nationwide's annuity team since 2007 and has served as President of Nationwide Annuity since 2019.

Legacy of innovation & business performance

Under his leadership, the business has launched innovative solutions in response to changing consumer needs, expanded its digital and technology capabilities to deliver a better experience for partners and customers, and built a greater discipline around how the company manages its product portfolio and pricing for profitable growth. Henderson capped his career by leading Nationwide's annuity business to three-consecutive record sales years, making it the company's most profitable business line despite facing historic headwinds, including volatile market and interest rate environments.

"Throughout his career, Eric has displayed tremendous resiliency and courage to successfully manage risk and lead teams through challenging economic conditions and turbulent markets," said John Carter, president and COO of Nationwide Financial. "When headwinds began to impact the variable annuity business during the pandemic, Eric and his leadership team quickly pivoted focus to our portfolio of fixed products. That shift paid off, with nearly $10 billion in fixed annuity sales in 2023, at a time when others in the industry were forced to exit business lines. Outcomes like this are indicative of Eric's entire career in which his team helped us grow market share, contribute more profit to the broader Nationwide enterprise and become widely regarded as one of the top annuity providers in the industry."

High-performing leadership

Henderson began his career at Nationwide as an Actuarial Assistant in 1985. He held positions of increasing responsibility across the company's annuity business before assuming leadership of the team in 2007. Nationwide's annuity business has grown exponentially under his leadership, producing $150 billion in sales for Nationwide between 2007 and 2023.

"A hallmark of admired leaders is their ability to recruit and develop high-performing leadership teams and organizations," Carter said. "Eric has built a high-performing and inclusive leadership team that is well positioned to lead our annuity business for years to come."

Nationwide will begin an internal and external search for Henderson's replacement. Eric will continue to lead the company's annuity team until his retirement and help ensure a smooth leadership transition when his successor is named.

"We'll take some time this year to celebrate Eric's tremendous contributions to Nationwide," Carter added. "He has dedicated his career to helping more Americans achieve a secure retirement - and at the end of this period of transition we will wish him the very best as he embarks on the next chapter with his family."

Henderson also serves as a board member on the Insured Retirement Institute (IRI), LIMRA Annuity Executive Advisory Board, Central Ohio Salvation Army and the BalletMet Board of Trustees.

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Original text here: https://news.nationwide.com/nationwides-annuity-president-announces-retirement/