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 whole life, individual disability insurance, and employee benefits, today announced record performance for the 2016 fiscal year.
The company achieved the highest earnings in its 156-year history, ending the year with $7.4 billion in capital and marking eight consecutive years of capital growth. Policyholders received a record-high dividend1 of $850 million for 2016.
“What sets Guardian apart is our strong performance across a diverse mix of insurance and fee-based businesses,” said President and CEO Deanna Mulligan. “Our strong and steady growth in our core insurance business with the additions of leading positions in absence management and new offerings in dental, vision, and supplemental health help us deliver on our mission to be the trusted, mutual partner for our customers.”
Guardian's focus on preparing customers for the future has consistently helped the company deliver outstanding results, deliver growth, and continue to provide excellent customer service.
- Guardian is among the top five providers of whole life insurance with a 6% market share2.
- The company’s group insurance ranked fourth, with 7% market share in combined sales of Group Life, Dental, and Disability3.
- The acquisition of Aon Hewitt’s absence management business makes ReedGroup, Guardian’s wholly owned subsidiary, the second-largest absence management business.
For the year, on a consolidated basis, Guardian earned $1.5 billion in operating income before taxes and dividends to policyholders. The company received $11.7 billion in premiums and deposits, paid out $5.9 billion in benefits to policyholders, and had $600 billion of life insurance in force.
Additional 2016 Company Highlights
Guardian is frequently recognized for its exceptional customer service
and earned the following accolades:
- J.D. Power recognized Guardian for the sixth consecutive year for customer service excellence. Guardian’s retirement contact center was certified by the J.D. Power Certified Contact Center Program for providing, “an outstanding customer service experience.”
- Guardian’s individual disability income insurance contact center earned the DALBAR Insurance Service Award, for the second consecutive year. Guardian is the only insurance provider to earn this distinction for 2016.
- Guardian earned a perfect score on The Human Rights Campaign’s Corporate Equality Index and named the company as one of the 2017 Best Places to Work for LGBTQ Equality.
Annual Report Now Available Online
Additional details regarding Guardian’s 2016 financial performance and how the company fulfills its promise to customers are available in the company’s annual report, which was also released today, now available at: https://www.guardianlife.com/annual-report-2016/
The Guardian Life Insurance Company of America® (Guardian) is one of the largest mutual life insurers, with $7.4 billion in capital and $1.5 billion in operating income (before taxes and dividends to policyholders) in 2016. Founded in 1860, the company has paid dividends to policyholders every year since 1868. Its offerings range from life insurance, disability income insurance, annuities, and investments to dental and vision insurance and employee benefits. The company has approximately 8,800 employees and a network of over 2,750 financial representatives in 58 agencies nationwide. For more information about Guardian, please visit our website, www.GuardianLife.com. You can also follow Guardian on Facebook, LinkedIn, Twitter and YouTube.
Financial information concerning The Guardian Life Insurance Company of America® as of December 31, 2016 on a statutory basis: Admitted Assets = $51.9 Billion; Liabilities = $45.7 Billion (including $39.4 Billion of Reserves); and Surplus = $6.2 Billion.
1. Dividends are not guaranteed. They are declared annually by Guardian’s Board of Directors.
2. 2016 U.S. Retail Individual Life Insurance Sales, LIMRA
3. Third Quarter 2016, LIMRA Group Dental, Disability, and Life Reports
2017-38056 Exp. 3/2019