Nationwide Life Insurance Co. has settled a naming issue with a subsidiary by relenting after competitive fears over bank sales proved unfounded.
The Columbus, Ohio, company, known for eight years as Financial Horizons Life Insurance Co., had changed its name recently to Nationwide Life and Annuity Insurance Co.
And a sister company that creates insurance products and sells them through 16 banking companies - Financial Horizons Distributors Agency - is expected to take on its parent's name within a month, according to Karen Eisenbach, the distribution company's vice president for business development.
Nationwide originally assigned the Financial Horizon name to the subsidiary because its own agents didn't want those in the banks selling products with the same name, Ms. Eisenbach said.
But executives have since discovered "the anticipated conflicts really aren't there," Ms. Eisenbach said.