Guardian performed well in 2010. We grew capital by $423 million and concluded the year with risk-based capital of 492%, which is indicative of one of the strongest capital positions in the life insurance industry. Additionally, consolidated statutory operating income increased to $1.1 billion, up 6.6% from the prior year. And we declared a $740 million dividend to individual life policyholders, our largest such allocation ever.
As of/ For the period ended ($ in million) | Dec. 31, 2010 | Dec. 31, 2009 |
| Operating Income Before Tax | $328 | $191 |
| Net Realized Capital Losses, After Tax | ($23) | ($96) |
| Policyholder Dividends Incurred | $730 | $708 |
| Net Income | $205 | $28 |
| Operating Income Margin, After Tax | 2.9 % | 1.6% |
| Capital | $5,343 | $4,920 |
| Capitalization Ratio | 16.1% | 15.9% |
| Risk Based Capital ("RBC") | 492% | 487% |
| Total Admitted Assets | $33,178 | $30,895 |
