Ratings
We’re proud of being one of the most highly rated companies in the industry, earning the trust of our policyholders, investors, and partners.
Financial and investment highlights
As one of the largest mutual insurance companies in the country, Guardian has the benefit of aligning our interests to our policyholders and customers. Our history of returning a portion of our profits through a dividend demonstrates our financial strength and commitment to our customers since 1860.
- Moody's Investors Service
Aa1
High Quality
2 of 21 - A.M. Best Company
A++
Superior
1 of 15 - Standard & Poor's
AA+
Very Strong
2 of 20
Guardian’s dividend
Returning benefits to our customers
In 2023, we declared a dividend payment to our participating policyholders of nearly $1.4 billion for 2024, the largest dividend payout in the company’s history. This milestone is a testament to Guardian’s financial stability and experience in navigating a range of risks.
Download the PDF to learn more about Guardian’s dividend payments.
$2 billion
Surpassed an operating income of $2 billion for the first time in the company’s history
$11.4 billion
Ended the year with more than $11.4 billion of capital
$1.398 billion
Approved all-time-high dividend of $1.398 billion and increased the dividend interest rate to 5.90%
A year of strength in financial performance
We surpassed an operating income of more than $2 billion, an all-time record for Guardian, and maintained more than $11 billion in capital. This was driven by robust investment returns, sound underwriting, and prudent expense management.
As of December 31, 2023
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The following condensed financial statements of The Guardian Life Insurance Company of America have been derived from audited statutory financial statements, which are available upon request.
Investments
Investments that keep true to our principles
Guardian’s investments have always been a cornerstone of our business and an important contributor to our strong financial ratings. Our successful track record is a result of an investment philosophy centered on delivering long-term value for our policyholders, which includes:
Focusing on the breadth and diversification of our investment portfolio.
Constructing a high-quality portfolio to withstand unpredictable economic cycles.
Operating with strong risk discipline.
We take pride in continually striving for superior risk-adjusted returns, while ensuring we deliver on our financial promises.
Statement Value | $ millions | % of invested assets |
|---|---|---|
Bondsi | 52,093 | 71.0% |
Commercial mortgagesii | 7,657 | 10.4% |
Policy loans | 5,106 | 7.0% |
Private & real estate equity | 3,800 | 5.2% |
Affiliates & subsidiariesiii | 2,008 | 2.7% |
Public equity, cash, short-term & other invested assets | 2,738 | 3.7% |
Total invested assetsiv | 73,402 | 100% |
As of December 31, 2023
The ratings of The Guardian Life Insurance Company of America® (Guardian) quoted in this report are as of December 31, 2023 and are subject to change. The ratings earned by Guardian do not apply to the investments issued by The Guardian Insurance & Annuity Company, Inc. (GIAC) or offered through Park Avenue Securities LLC (PAS). Rankings refer to Guardian’s standing within the range of possible ratings offered by each agency.
1 Total bonds consist of 94% Investment Grade and 6% Below Investment Grade public and private debt but excludes surplus note debentures classified as Schedule BA invested assets, commercial mortgages, and preferred stock.
2 Affiliates and subsidiaries includes $913 million in affiliates classified as LLCs on the annual statement that are not private equity.
i Total bonds consist of 94% Investment Grade and 6% Below Investment Grade public and private debt but excludes surplus note debentures classified as Schedule BA invested assets, commercial mortgages, and preferred stock.
ii Includes commercial mortgage loans and mortgage debt funds.
iii Affiliates and subsidiaries includes $913 million in affiliates classified as LLCs on the annual statement that are not private equity.
iv Presentation of Invested Assets is a condensed view which will not align to the Audited Statutory Financial Statements.