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August 22, 2005
Guardian Life Recognized by CIO Magazine
For Third Consecutive Year in CIO 100 Awards
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Jackie Kanas
The Guardian Life Insurance Company of America
Tel: 212.598.1554
jacqueline_kanas@glic.com
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NEW YORK, N.Y., August 22, 2005 — IDG's CIO magazine announced The Guardian Life Insurance Company of America, New York, as a recipient of their 2005 CIO 100 award. The annual award program recognizes organizations around the world that exemplify the highest level of operational and strategic excellence in information technology (IT). This year's award theme is the Bold 100, which recognizes those executives and organizations who embrace great risk for the sake of great reward.
"Guardian is honored to receive this recognition from CIO for a third consecutive year," said Dennis Callahan, Executive Vice President and Chief Information Officer, Guardian. "As an enterprise, Guardian's boldness is exemplified by taking calculated risks, setting aggressive goals with solid risk mitigation plans, and executing rapidly. A strong partnership between IT and the businesses enables Guardian to deliver cost-effective technology services that facilitate world-class customer service, product innovation, and operational efficiency."
"The Bold 100 honorees stand out because they have dared to take on risk for the chance of reward in an extremely conservative business climate," said Abbie Lundberg, Editor-in-Chief, CIO. "The executives leading these organizations are smart, inventive and determined - I offer them my warmest congratulations."
Guardian was recognized primarily for implementing a new dynamic hedging technology to manage exposure to capital market risk without reinsurance for its variable annuity products, and for leveraging grid technology to support the volume of calculations necessary to pursue this strategy. Guardian was also recognized for bucking an industry trend toward demutualization and going public. Guardian is committed to remaining a mutual insurance company to meet the long-term interests of its policyholders.
"The development and execution of the Annuity Rider Dynamic Hedging initiative exemplified Guardian's leadership, teamwork, innovation and transparent risk management culture," said Thomas Sorell, Executive Vice President and Chief Investment Officer, Guardian. “By working together across numerous internal businesses, our policyholders will benefit from our new capability to both develop and guarantee our own risk-based annuity products." Bruce Long, Executive Vice President, Equity Products, Guardian, added, "Our IT team delivered again on a complex project to help the business folks solve a very difficult problem."
The 2005 CIO 100 awards will be presented at the Hotel Del Coronado in San Diego, California, on August 23 at the conclusion of the seventh annual CIO 100 Symposium® and Awards Ceremony.
About Guardian
Founded in 1860, The Guardian Life Insurance Company of America, New York, NY (Guardian) is the fourth largest mutual life insurance company in the United States. As of December 31, 2004, Guardian and its subsidiaries had $39.5 billion in assets. With more than 5,000 employees and 2,900 financial representatives, as well as over 80 agencies nationwide, Guardian and its subsidiaries protect individuals, businesses and their employees with life, disability, health and dental insurance products, and offer 401(k), financial products and trust services. More information about Guardian can be obtained at: www.guardianlife.com.
About GIAC
Variable annuities are issued by the The Guardian Insurance & Annuity Company, Inc. (GIAC), a Delaware corporation, and are distributed by Guardian Investor Services LLC (GIS). GIAC and GIS are located at 7 Hanover Square, New York, NY 10004-4025. Phone 1-800-221-3253. GIAC and GIS are wholly owned subsidiaries of The Guardian Life Insurance Company of America, New York, NY, (Guardian). GIS is a member: NASD, SIPC.
Variable annuities and their underlying investment options are sold by prospectuses only. Prospectuses contain important information, including fees and expenses. You should read the prospectuses carefully before investing or sending money. Please consider the investment objectives, risks, fees and charges of the investment company carefully before investing. Prospectuses contain this and other important information. Prospectuses can be obtained by calling 1-800-221-3253.
About the CIO 100
The recipients of this year's CIO 100 award were selected through a three-step process. First, companies filled out an online application form detailing their bold practices in both business and IT. Next, teams of CIO magazine editors and writers reviewed the applications in depth, looking for unique practices and substantial results. Finally, the teams met for a day-long meeting to debate the merits of each nominee and vote on the final 100.
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