Nationwide Life Insurance (NWLIC) 8-K Results of Operations and Financial Condition

Exhibit 99.1

NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES

(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)

Condensed Consolidated Balance Sheets

(in millions)

	December 31,
	2007		2006
	(Unaudited)
Assets
Investments	$	33,911.6	$	36,526.9
Deferred policy acquisition costs		3,997.4		3,758.0
Other assets		1,954.5		2,325.6
Separate accounts assets		69,676.5		67,351.9
Total assets	$	109,540.0	$	109,962.4
Liabilities and Shareholder’s Equity
Future policy benefits and claims	$	31,998.4	$	34,409.4
Long-term debt, payable to Nationwide Financial Services, Inc. (NFS)		700.0		700.0
Other liabilities		2,927.9		3,055.4
Separate account liabilities		69,676.5		67,351.9
Total liabilities		105,302.8		105,516.7
Total shareholder’s equity		4,237.2		4,445.7
Total liabilities and shareholder’s equity	$	109,540.0	$	109,962.4

NATIONWIDE LIFE INSURANCE COMPANY AND SUBSIDIARIES

(a wholly-owned subsidiary of Nationwide Financial Services, Inc.)

Condensed Consolidated Statements of Income

(in millions)

	Years ended December 31,
	2007			2006		2005
	(Unaudited)
Revenues:
Policy charges	$	1,208.3		$	1,132.6	$	1,055.1
Premiums		291.7			308.3		260.0
Net investment income		1,975.8			2,058.5		2,105.2
Net realized investment (losses) gains		(166.2	)		7.1		10.6
Other income		7.5			0.2		2.2
Total revenues		3,317.1			3,506.7		3,433.1
Benefits and expenses:
Interest credited to policyholder accounts		1,262.6			1,330.1		1,331.0
Benefits and claims		479.3			450.3		377.5
Policyholder dividends		24.5			25.6		33.1
Amortization of deferred policy acquisition costs		368.5			450.3		466.3
Interest expense, primarily with NFS		70.0			65.5		66.3
Other operating expenses		529.5			536.8		538.3
Total benefits and expenses		2,734.4			2,858.6		2,812.5
Income from continuing operations before federal income tax expense		582.7			648.1		620.6
Federal income tax expense		128.5			28.7		95.8
Income from continuing operations		454.2			619.4		524.8
Cumulative effect of adoption of accounting principle, net of taxes		(6.0	)		—		—
Net income	$	448.2		$	619.4	$	524.8