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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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

Thriving in retirement: Butch’s story
Planning for the unexpected: Amy’s Story

How do you retire from a business you built from scratch? In 1989, after launching his career in electrical construction, Butch Schnulle and his brother opened their own electrical contracting company with a total of eight employees. Over the next 26 years, their business grew in size to more than 100 employees, and when Butch’s brother retired, he took over control of the company on his own.

As the business continued to grow, Butch and his wife Rose turned to a Guardian financial representative to help them organize their finances, work toward their financial goals, and get ready for retirement. In 2017, after 28 years in business, Butch and Rose consulted with their financial representative and made the decision to sell the company. This allowed them the financial freedom and confidence to enjoy their retirement.

When asked what advice he would give to young business owners, Butch says, “Hire a good financial representative as early as you can. Work toward becoming financially stable as early as possible, so that you have the flexibility to retire when you want.”

Butch and Rose are currently enjoying a retirement filled with travel, spending time with their family, and planning many more years together.

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.

Financial empowerment
Oral health
Workforce development
Environmental stewardship
Employee engagement

Our Money Management for Life program has helped nearly 13,000 people by providing them with personal finance courses in their local community colleges.

More than 5,500 people took courses through the Money Management for Life program this year
Provided 181 students with $98,653.54 in debt forgiveness
Seventy-five percent of students reported they were much better prepared to manage their personal finances as a result of taking the course

"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

Our leadership team

Deanna M. Mulligan

Chief Executive Officer

Andrew McMahon

President

Kermitt Brooks

Executive Vice President, General Counsel

Dean Del Vecchio

Executive Vice President, Chief Information Officer and Chief of Operations

Michael Ferik

Executive Vice President, Individual Markets

Jean LaTorre

Executive Vice President and Chief Investment Officer

Kevin Molloy

Executive Vice President and Chief Financial Officer

Brian L. Scanlon

Executive Vice President of Business Development and Marketing

Diana L. Scott

Executive Vice President and Chief Human Resources Officer

Christopher B. Smith

Senior Vice President and Head of Group Benefits

View our Board of Directors

2020-95285