Guardian Life / About Guardian
FINANCIAL HIGHLIGHTS

Financials

Guardian performed well in 2016. We ended the year with $7.4 billion in capital and $66.5 billion in assets under management. Additionally, operating income before tax and dividends was $1.5 billion. 

2016 Financial Highlights (on a consolidated basis)

Premiums and Deposits

$11.7 billion

 

Operating Income (before taxes & dividends to policyholders)

$1.5 billion

 

Capital

$7.4 billion

 

Assets Under Management

$66.5 billion

 

Policyholder Dividend Declared

$850 million

 

Benefits Paid to Policyholders

$5.9 billion

 

Life Insurance in Force

$600 billion

 

Premiums and Deposits

$11.7 billion

Operating Income (before taxes & dividends to policyholders)

$1.5 billion

Capital

$7.4 billion

Assets Under Management

$66.5 billion

Policyholder Dividend Declared

$850 million

Benefits Paid to Policyholders

$5.9 billion

Life Insurance in Force

$600 billion

What’s in a Dividend?

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 First Quarter Statutory Filing

2016 Second Quarter Statutory Filing

2016 Third Quarter Statutory Filing

2016 Fourth Quarter Statutory Filing

Investments

As of 12/31/16, the majority of Guardian's total investment portfolio is comprised of public fixed income (57.7%), private placement debt (17.5%), and commercial mortgages (7.4%). Public equity represents 0.8% of our total investment portfolio and is hedged to protect Guardian's capital from market volatility. Public fixed income holdings are comprised of public corporates (66.8%), structured finance (12.7%), municipal securities (8.3%), U.S. governments (5.9%), high yield public corporates & bank loans (6.2%) and no emerging market debt (0.0%). Our portfolio is of excellent credit quality with strong liquidity; 93.5% of our total fixed income and convertible bonds are investment grade.

Asset Class Allocation – December 31, 2016

Statement Value $ Millions % of Invested Assets

Fixed Income (ex Private)

27,100

57.7%

 

Private Placement Debt

8,211

17.5%

 

Commercial Mortgages

3,472

7.4%

 

Policy Loans

3,405

7.3%

 

Private & Real Estate Equity

1,671

3.6%

 

Affiliates & Subsidiaries2

1,520

3.2%

 

Cash, Short-Term & Other Invested Assets

1,023

2.2%

 

Convertible Securities

151

0.3%

 

Public Equity3

366

0.8%

 

Total Invested Assets

46,919

100%

 

Fixed Income and Convertible Bonds – December 31, 2016

Statement Value $ Millions % of Bonds

NAIC 1 (Aaa-A/AAA-A)

18,135

51.2%

 

NAIC 2 (Baa/BBB)

15,007

42.3%

 

Investment Grade

33,141

93.5%

 

NAIC 3 (Ba/BB)

1,200

3.4%

 

NAIC 4 (B)

1,002

2.8%

 

NAIC 5&6 (Caa/CCC & below)

104

0.3%

 

Below Investment Grade

2,306

6.5%

 

Total Bonds4

35,447

100%

 

Guardian Fixed Income Investor Presentation, May 2017

On January 24, 2017, Guardian made the following information available in connection with a financing transaction.

1Dividends are not guaranteed. They are declared annually by Guardian’s Board of Directors.

2Affiliates and Subsidiaries include $477 million in affiliates classified as LLC's on the annual statement that are not private equity.

3Public Equity excludes Bond & Cash Mutual Funds and includes commodity ETFs.

4Total Bonds includes public and private debt and convertible bonds, but excludes commercial mortgages and preferred stock.

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.