NU Online News Service, Nov. 5, 3:52 p.m. EDT

Losses from a capital hedge it has in place to protect statutory capital in its life insurance segment drove down Nationwide's third-quarter net income to $85 million, compared to $208 million during the same time a year ago.

However, over the first nine months of the year, the Columbus, Ohio-based insurance and financial services company said its diverse business segments–particularly sales growth of variable annuities and life insurance–resulted in a net income of $569 million this year from $541 million a year ago at Sept. 30.

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