Guardian Life / About Guardian

FINANCIAL HIGHLIGHTS

Financials

Guardian performed well in 2014. We ended the year with $6.8 billion in capital and $81.1 billion in assets under management. Additionally, operating income before tax and dividends was $1.3 billion. 

2014 Financial Highlights (on a consolidated basis)

Premiums and Deposits

$17.3 billion

Operating Income (before taxes & dividends to policyholders)

$1.3 billion

Capital

$6.8 billion

Assets Under Management

$81.1 billion

Policyholder Dividend Declared

$787 million

Benefits Paid to Policyholders

$5.3 billion

Life Insurance in Force

$529 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.1 Download the PDF to learn more about Guardian’s dividend payments.

Statutory Filings

2014 First Quarter Statutory Filing

2014 Second Quarter Statutory Filing

2014 Third Quarter Statutory Filing

2014 Fourth Quarter Statutory Filing

Investments

As of 12/31/14, the majority of Guardian's total investment portfolio is comprised of public fixed income (54.7%), private placement debt (17.0%), and commercial mortgages (7.5%). Public equity represents 1.1% 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 (66.6%), municipal securities (9.6%), structured finance (9.2%), U.S. governments (5.9%), high yield public corporates & bank loans (5.7%), international developed market debt (2.2%) and emerging market debt (0.8%). Our portfolio is of excellent credit quality with strong liquidity; 92.9% of our total fixed income and convertible bonds are investment grade.

Asset Class Allocation – December 31, 2014

Statement Value $ Millions % of Invested Assets

Fixed Income (ex Private)

$17.3 billion

54.7%

Private Placement Debt

6,900

17.0%

Policy Loans

3,046

7.5%

Commercial Mortgages

3,231

8.0%

Affiliates & Subsidiaries2

1,604

3.9%

Private & Real Estate Equity

1,627

4.0%

Cash, Short-Term & Other Invested Assets

922

2.2%

Convertible Securities

652

1.6%

Public Equity3

441

1.1%

Total Invested Assets

40,634

100.0%

Fixed Income and Convertible Bonds – December 31, 2014

Statement Value $ Millions % of Bonds

NAIC 1 (Aaa-A/AAA-A)

$17.3 billion

47.9%

NAIC 2 (Baa/BBB)

13,332

45.0%

Investment Grade

27,540

92.9%

NAIC 3 (Ba/BB)

1,075

3.6%

NAIC 4 (B)

948

3.2%

NAIC 5&6 (Caa/CCC & below)

90

0.3%

Below Investment Grade

2,113

7.1%

Total Bonds4

29,653

100.0%

On June 16, 2014, Guardian made the following information available in connection with a financing transaction. Click here to view.

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

2Affiliates and Subsidiaries includes $683 million in affiliates classified as LLCs 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.