2019 annual report

2019 was defined by growth. We invested in what makes our company great: our employees.

We prioritized our customers with innovative new products, shared a record dividend with our policyholders, and achieved our highest ever earnings and capital levels.

And we stood by our simple but powerful ideals: do the right thing, hold ourselves to high standards, and know that people count. Because everyone deserves a Guardian.

Dear Policyholders,

As I write this, Guardian’s many accomplishments of 2019 seem so far away. Like you, our focus for much of early 2020 has been on the spread of the coronavirus through our communities. Guardian colleagues moved quickly and decisively to make sure we were safe, secure, and able to continue to serve our 29 million customers without interruption. As the situation unfolded, most of our people shifted to working remotely, using technology and processes we had put in place over the last few years to maintain business continuity and high levels of service. We like to say we are built for challenging times, and I am proud to say our organization came together and rose to this occasion.

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But this crisis tested more than our technology and organizational flexibility. It showed that what we believe in is the real strength of our company:

We believe in our values. We do the right thing. People count. We hold ourselves to very high standards. These values have guided the way we work with you and with each other for generations, and they have been critical in helping us navigate these uncertain times.

We believe in keeping the promises we make to you. Your financial confidence is always top priority for us. We put our risk management experience to work for you every day. We are rated among the top one percent of all insurers for financial strength.¹ Our long-term planning always takes market and economic volatility into account and is focused on fulfilling our promises to policyholders for decades to come. As a mutual company, we are guided by your needs, not the short-term demands of the stock market.

We believe in making it easier for you to connect with us. We have continued to expand our digital product catalog and accident insurance to better meet your needs. Our priority is to create newer, faster, and increasingly digital ways for you to connect with us so that we can continue to serve you during times of uncertainty.

We believe in supporting the communities we serve. Through financial support, tens of thousands of hours of employee volunteerism, and programs in financial education, talent development, and dental health for underserved populations, our commitment to making a difference continues to grow.

We believe in the continuity of strong leadership. Late last year, we named Andrew McMahon as President of Guardian. Andrew’s dynamic leadership will help guide us going forward.

Finally, we believe that the measure of a great company isn’t simply its ability to survive challenging times — it’s about learning, adapting, and evolving. For nearly 160 years, we have faced challenges, and each Guardian generation has risen to the occasion. We believe that’s a track record worth counting on. Thank you for believing in us.

Our customer service teams are here for you during these uncertain times.

We’re committed to providing a high-quality experience and uninterrupted service for our customers, and we’re honored to have been noted once again for our efforts:

J.D. Power recognized us for providing “An Outstanding Customer Service Experience” for Phone support at our Individual Life Contact Center.²
DALBAR awarded us with their 2019 Service Awards for our Individual Markets (IM) Life, Disability, and Retirement Contact Center teams and the Park Avenue Securities Service Desk team.

Data-driven results

How we're using data and AI to help our customers thrive

Learning through empathy

How understanding the consumer’s point of view leads to better experience

"Guardian is a strong, reputable company with good phone personnel. Whenever I call, they always make me feel comfortable. Thank you for being there for me." – Alice C., life insurance customer

Here to help our customers

Financial highlights and ratings

(on a consolidated basis)

2019 Financial Highlights (on a consolidated basis)
Premiums	$9.6 billion
Operating Income (Before Taxes & Dividends To Policyholders)	$1.7 billion
Capital	$9.3 billion
Assets Under Management	$79.3 billion
Policyholder Dividend Declared	$984 million
Benefits Paid To Policyholders	$7.0 billion
Life Insurance In Force	$699 billion

Ratings
Moody's Investors Service	Aa2 Excellent
A.M.Best Company	A++ Superior
Standard & Poor's	AA+ Very Strong
Fitch	AA+ Very Strong
COMDEX**	99 out of 100

View our complete financial report

"Very simply, Guardian’s reputation is stellar, and never once have I gotten off of the phone with unanswered questions or without being 100% satisfied with my experience." – Thomas D., Life Insurance Customer

Helping communities thrive

Our corporate social responsibility programs help create equity and access to needed services for people in underserved communities.

"I have been with Guardian for more than 30 years and have always received outstanding service. I would highly recommend Guardian to anyone." - John C., Wealth Management Customer