Eric Henderson, the head of Nationwide’s annuity business, will be leaving the firm at the end of the year after a long career spanning nearly four decades. This was announced on Tuesday and Nationwide will be conducting a search, both internally and externally, to find his replacement. Henderson has been leading Nationwide’s annuity team since 2007 and became the president of Nationwide Annuity in 2019. Under his leadership, the annuity business has seen three consecutive record sales years, making it Nationwide’s most profitable business line despite challenges in the market and interest-rate environments.
Henderson started his journey at Nationwide as an actuarial assistant in 1985 and has since held various roles of increasing responsibility. In 2007, he took the helm of the annuity team. He will continue to lead the annuity team until his retirement and assist in a smooth transition for his successor. During his tenure, Nationwide’s annuity business experienced significant growth, generating $150 billion in sales between 2007 and 2023. Henderson was responsible for overseeing all aspects of the company’s individual annuity segment, including product innovation, sales, and distribution.
John Carter, president and COO of Nationwide Financial, praised Henderson’s leadership abilities, noting his resilience and courage in navigating challenging economic conditions and volatile markets. Carter highlighted Henderson’s strategic shift towards fixed products during the pandemic, which resulted in nearly $10 billion in fixed annuity sales in 2023. Henderson’s talent for recruiting and developing high-performing leadership teams was also commended, positioning the annuity business for continued success in the future.
In addition to his role at Nationwide, Henderson serves as a board member on the Insured Retirement Institute and the LIMRA Annuity Executive Advisory Board. His departure from Nationwide marks the end of an era for the annuity business, but his legacy of strong leadership and strategic decision-making will continue to impact the company for years to come.