NEW YORK--(BUSINESS WIRE)--The Guardian Life Insurance Company of America (Guardian), one of the nation’s largest mutual life insurers and a leading provider of employee benefits, today announced its 2013 results. The company continued to deliver strong performance across the board, ending the year with $6.1 billion in capital, marking its fifth consecutive year of capital growth. As a result, Guardian declared a $776 million dividend payout to its Whole Life policyholders.
Consolidated net investment income grew 2.0% to $2.1 billion, despite challenges in the market and a slow economic recovery. For the year, on a consolidated basis, Guardian paid out $4.9 billion of benefits to policyholders, had a statutory gain of $1.2 billion from operations, before taxes and dividends to policyholders, and had $307 billion life insurance in force.
“2013 was another solid year for Guardian. As a mutual company, we enjoy a shared interest with our policyholders, who are also our owners. Our financial results allowed us to declare another strong dividend payout to those clients which is a key measure of our success,” said Deanna Mulligan, President and Chief Executive Officer of Guardian. “Guardian has been around for 153 years, but we’re not resting on our laurels. We are developing new products and services to ensure we move forward in ways that benefit our clients and our 8,000 combined employees and financial professionals in the field.”
Guardian finished the year with all four major credit ratings agencies affirming the company’s financial strength:
Additional details regarding Guardian’s 2013 financial performance are available in the company’s annual report, now available at: http://www.ar.guardianlife.com/
Financial information concerning The Guardian Life Insurance Company of America as of December 31, 2013 on a statutory basis: Admitted Assets = $42.1 Billion; Liabilities = $37.1 Billion (including $32.7 Billion of Reserves); and Surplus = $5.0 Billion.
Dividends are not guaranteed and are declared annually by Guardian’s Board of Directors.
A mutual insurer founded in 1860, The Guardian Life Insurance Company of America (Guardian) and its subsidiaries are committed to protecting individuals, business owners and their employees with life, disability income and dental insurance products, and offer funding vehicles for 401(k) plans, annuities and other financial products. Guardian operates one of the largest dental networks in the United States, and protects more than eight million employees and their families at over 115,000 companies. The company has approximately 5,000 employees in the United States and a network of over 3,000 financial representatives in more than 80 agencies nationwide. For more information about Guardian, please visit www.GuardianLife.com.
© 2011 The Guardian Life Insurance Company of America, New York, NY all rights reserved.