Guardian Life / About Guardian
FINANCIAL HIGHLIGHTS

Financials

Guardian performed well in 2017. We ended the year with $8 billion in capital and $71.5 billion in assets under management. Additionally, operating income before tax and dividends was $1.6 billion. 

2017 Financial Highlights (on a consolidated basis)

Premiums

$9.4 billion

 

Operating Income (before taxes & dividends to policyholders)

$1.6 billion

 

Capital

$8.0 billion

 

Assets Under Management

$71.5 billion

 

Policyholder Dividend Declared

$913 million

 

Benefits Paid to Policyholders

$6.1 billion

 

Life Insurance in Force

$637 billion

 

Premiums

$9.4 billion

Operating Income (before taxes & dividends to policyholders)

$1.6 billion

Capital

$8.0 billion

Assets Under Management

$71.5 billion

Policyholder Dividend Declared

$913 million

Benefits Paid to Policyholders

$6.1 billion

Life Insurance in Force

$637 billion

Guardian’s Dividend and Financial Performance

Guardian is a mutual life insurance company, which means that our participating life policyholders share in our financial results, in part, through the payment of annual dividends. Download the PDF to learn more about Guardian’s dividend payments.

Statutory Filings

2015 Fourth Quarter Statutory Filing

2016 Fourth Quarter Statutory Filing

2017 Fourth Quarter Statutory Filing

Investments

As of 12/31/17, the majority of Guardian's total investment portfolio is comprised of public fixed income (57.3%) excluding surplus note debentures, private placement debt (18.3%), and commercial mortgages (7.9%). Public equity represents 0.9% of our total investment portfolio and is hedged to protect Guardian's capital from market volatility. Public fixed income holdings excluding surplus note debentures are comprised of public corporates (65.8%), structured finance (13.8%), municipal securities (7.6%), U.S. governments (8.6%), high yield public corporates & bank loans (4.3%). Our portfolio is of excellent credit quality with strong liquidity; 95.3% of our total fixed income excluding surplus notes are investment grade.

Asset Class Allocation – December 31, 2017

Statement Value $ Millions % of Invested Assets

Public Fixed Income (excl. surplus note debentures)

28,889

57.3%

 

Private Placement Debt

9,236

18.3%

 

Commercial Mortgages

4,001

7.9%

 

Policy Loans

3,520

7.0%

 

Affiliates & Subsidiaries1

1,819

3.6%

 

Private & Real Estate Equity

1,478

2.9%

 

Cash, Short-Term & Other Invested Assets

1,050

2.1%

 

Public Equity2

462

0.9%

 

Total Invested Assets

$50,455

100%

 

Fixed Income and Convertible Bonds – December 31, 2017

Statement Value $ Millions % of Bonds

NAIC 1 (Aaa-A/AAA-A)

21,653

56.8%

 

NAIC 2 (Baa/BBB)

14,685

38.5%

 

Investment Grade Subtotal

36,338

95.3%

 

NAIC 3 (Ba/BB)

753

2.0%

 

NAIC 4 (B)

869

2.3%

 

NAIC 5&6 (Caa/CCC & below)

165

0.4%

 

Below Investment Grade Subtotal

1,787

4.7%

 

Total Bonds3

$38,125

100%

 

Guardian Fixed Income Investor Presentation, December 2017

On April 12, 2018 Guardian made the following financial information available.

IRS Form 8937- Report of Organizational Actions Affecting Basis of Securities

Dividends are not guaranteed. They are declared annually by Guardian’s Board of Directors.

1Affiliates and Subsidiaries includes $824 million in affiliates classified as LLCs on the annual statement that are not private equity.

2Public Equity excludes Bond & Cash Mutual Funds and includes commodity ETFs.

3Total Bonds includes public and private debt but excludes surplus note debentures classified as Schedule BA invested assets, commercial mortgages and preferred stock.

 

Financial information concerning Guardian as of December 31, 2017, on a statutory basis: Admitted Assets = $55.6 Billion; Liabilities = $48.9 Billion (including $41.8 Billion of Reserves); and Surplus = $6.7 Billion.

 

Please note that page 25 and Note 10 of the 2016 GLICOA's Annual Statement were amended.

Kindly click here to access the amended statement.