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

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)

22,211

54.7%

Private Placement Debt

6,900

17.0%

Policy Loans

3,046

7.5%

Commercial Mortgages

3,231

8.0%

Affiliates & Subsidiaries1

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 Equity2

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)

14,208

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 Bonds3

29,653

100.0%

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

1Affiliates and Subsidiaries includes $683 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 and convertible bonds, but excludes commercial mortgages and preferred stock.