A message from the Chairman & CEO
At Guardian, success is defined by the trust you place in us and the promises we keep. Our focus is on helping you move toward tomorrow with confidence by protecting what matters today, supporting your financial future, and providing holistic benefits to inspire well-being®. This purpose shapes every decision we make and reinforces our commitment to stand behind you through every stage of your life.
In The 2025 Guardian Annual, I'm excited to share how we are advancing our strategy, strengthening Guardian, and creating lasting value for future generations.
Our commitment: Financial strength, value, and innovation
In 2025, Guardian achieved $2.5 billion in operating income and approved a record $1.7 billion dividend payment for 2026 to our participating whole life policyholders.1,2 We remain one of the strongest and most highly rated insurance companies in the United States with an Aa1 (High Quality) rating by Moody’s, an A++ (Superior) rating by A.M. Best Company, and an AA+ (Very Strong) rating from Standard & Poor’s. Our Comdex score of 100 is the highest a company can earn and is further validation of our financial strength.* These industry-leading results reflect our sound underwriting, responsible capital management, and robust investment returns, providing assurance we will fulfill our future commitments.
Last year, we advanced our investment management capabilities through new strategic partnerships with Janus Henderson and Hamilton Lane. These partnerships will accelerate growth and provide access to differentiated opportunities that strengthen our investment portfolio and create long-term value for our policyholders.
Built on mutuality; committed to generations
Mutuality at Guardian means we do the right thing by you — our customers, communities, partners, and colleagues. The 2025 Guardian Annual highlights what it means to show up each day focused on supporting well-being for your mind, body, and wallet® and driving success. This year’s stories bring to life how we support you, including Nichole, who helped her close friend and her family in a time of deep grief, and Tina, who used her critical illness insurance benefit to better her own physical wellness.
Since our founding in 1860, when a community of immigrants joined together to protect their businesses and families, we have embraced the spirit of mutuality as a mindset. Today, we actively invest in your well-being because shared success is the foundation for lasting value.
Delivering superior service
Thank you to our partners and financial advisors for your continued dedication in serving our customers. My thanks to our colleagues for their unwavering commitment to excellence, reflected in continued recognition from J.D. Power and DALBAR for superior service.
To those we serve, your trust drives us to get better each day. We are honored to be on this journey with you.
Andrew J. McMahon
Chairman & Chief Executive Officer
*Comdex is not a rating but a composite of all ratings that a company has received from the major ratings agencies (A.M. Best, Fitch, Moody’s, and Standard & Poor’s). Comdex represents a company’s percentile standing, on a scale of 1 to 100 (with 100 being the best), in 2025 in relation to other companies that have been rated by the major agencies.
View The 2025 Guardian Annual PDF
1 Dividends are not guaranteed. They are declared annually by Guardian’s Board of Directors. The total dividend calculation includes mortality experience and expense management as well as investment results. In addition, the Board established a minimum amount of dividend allocation — no less than $1.56 billion to be distributed in 2026 to participating life policyholders with policy dates as of January 1, 1984 and later.
2 Financial information concerning Guardian as of December 31, 2025, on a statutory basis: Admitted Assets = $93.8 Billion; Liabilities = $83.8 Billion (including $64.0 Billion of Reserves); and Surplus = $10.0 Billion.
Financial information concerning GIAC as of December 31, 2025, on a statutory basis: Admitted Assets = $11.0 Billion; Liabilities = $10.3 Billion (including $4.1 Billion of Reserves); and Capital and Surplus = $0.7 Billion.
Financial information for Berkshire Life Insurance Company of America as of December 31, 2025, on a statutory basis: Admitted Assets = $5.7 Billion; Liabilities = $5.5 Billion (including $1.2 Billion in Reserves); and Capital and Surplus = $0.2 Billion.