 |
November 27, 2006
GUARDIAN ANNOUNCES LARGEST DIVIDEND IN COMPANY'S 146-YEAR HISTORY
Projected Dividend Payout is 7% Increase Over 2006
| For media inquiries, contact:
|
Jennifer McClellan
Manning Selvage & Lee
Tel: 212.468.3554
Fax: 212.468.3654
Jennifer.McClellan@mslpr.com
|
| Anayo Afolabi
The Guardian Life Insurance Company of America
Tel: 212.598.8329
Fax: 212.919.2790
anayo_afolabi@glic.com
|
NEW YORK, November 27, 2006 — The Guardian Life Insurance Company of America (Guardian) announced today that its board of directors has approved a record dividend allocation of $618 million to eligible life participating policyholders in 2007. This dividend allocation represents an increase of 7%, or $41 million, over last year's dividend payout and is the largest in Guardian's 146-year history.
"We are pleased to announce the Company's record dividend payout," said Dennis J. Manning, president and chief executive officer of Guardian. "As a mutually-owned life insurance company we are dedicated to consistently improving policyholder value and paying dividends is one of the most important ways we do that."
The Company announced that 96% of Guardian's participating life policyholders will receive a 2007 dividend equal to or exceeding what they received in 2006.
"This record distribution demonstrates the benefits that Guardian is committed to delivering to its policyholders," said Manning. "Our goal is to provide the greatest amount of life insurance protection for the lowest possible net cost, while at the same time maintaining our exceptional financial strength, and expense controls. Efficiencies we obtain from operations are put into effect for the benefit of our clients and policyholders."
Guardian's ratings are among the highest in the industry. Additional information about Guardian's financial strength can be found at:
www.guardianlife.com
About Guardian
Founded in 1860, The Guardian Life Insurance Company of America, New York, NY (Guardian) is one of the largest mutual life insurance companies in the United States. As of December 31, 2005, Guardian and its subsidiaries had $36.9 billion in assets (on a consolidated statutory basis). With more than 5,000 employees and 3,000 financial representatives, as well as over 85 agencies nationwide, Guardian and its subsidiaries protect individuals, businesses, and their employees with life, disability, health, long-term care, and dental insurance products, and offer 401(k), financial products and trust services. More information about Guardian can be obtained at: www.guardianlife.com.
| |
