<ARTICLE> 7
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM NATIONWIDE
LIFE INSURANCE COMPANY'S QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTER ENDED
JUNE 30, 1998, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH UNAUDITED
CONSOLIDATED FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED> 
<MULTIPLIER> 1,000,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<DEBT-HELD-FOR-SALE>                            13,611
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                          99
<MORTGAGE>                                       5,242
<REAL-ESTATE>                                      275
<TOTAL-INVEST>                                  19,883
<CASH>                                               6
<RECOVER-REINSURE>                                   0
<DEFERRED-ACQUISITION>                           1,859
<TOTAL-ASSETS>                                  68,344
<POLICY-LOSSES>                                 18,983
<UNEARNED-PREMIUMS>                                  0
<POLICY-OTHER>                                       0
<POLICY-HOLDER-FUNDS>                                0
<NOTES-PAYABLE>                                      0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             4
<OTHER-SE>                                       2,559
<TOTAL-LIABILITY-AND-EQUITY>                    68,344
<PREMIUMS>                                         105
<INVESTMENT-INCOME>                                732
<INVESTMENT-GAINS>                                  22
<OTHER-INCOME>                                      31
<BENEFITS>                                         614
<UNDERWRITING-AMORTIZATION>                        102
<UNDERWRITING-OTHER>                               209
<INCOME-PRETAX>                                    277
<INCOME-TAX>                                        95
<INCOME-CONTINUING>                                182
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       182
<EPS-PRIMARY>                                     0.00
<EPS-DILUTED>                                     0.00
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0