Guardian announces $1.398 billion dividend allocation

New York, N.Y. – December 12, 2023 – The Guardian Life Insurance Company of America® (Guardian) announced that its board of directors has approved a record dividend allocation of $1.398 billion to participating policyholders in 2024. The company also increased its Dividend Interest Rate (DIR) to 5.90%. 

“Guardian’s record dividend allocation reflects our strong business strategy, commitment to our purpose of inspiring well-being, and our unwavering legacy of financial strength and mutuality. We are proud of these results and our ongoing track record of upholding our commitments each year,” said Andrew McMahon, CEO and President of Guardian. “This announcement is just one example of how our business decisions over the past few years have guided our ongoing success. As we head into 2024 and look at our multi-year strategy, we are confident in our position and ability to drive long-term value.” 

The largest dividend payout in the company’s history comes against a backdrop of economic challenges, including volatile financial markets, inflationary trends, and geopolitical turmoil. At the same time, Guardian continues to fulfill its promise to customers and last year paid $7 billion in benefits to policyholders. These milestones are a testament to Guardian’s financial stability and experience navigating a range of risks since 1860. Over a century later, Guardian’s financial strength continues to be reaffirmed by third-party independent rating agencies, with a composite Comdex score of 99—putting Guardian in the top 1% of insurance companies based on claims-paying ability.  

“Especially during difficult times, we are reminded of the importance of our purpose to inspire well-being and the impact we make in people’s lives. Our commitment to mutuality extends beyond the dividend as we strive to uplift individuals and the communities where they live and work,” explained McMahon. “To ensure we can continue living up to that purpose for generations to come, we are investing in technology and digital experiences, delivering new products and services, and leveraging artificial intelligence (AI) to accelerate business growth and deliver the modern experience consumers expect.” 

About Guardian 

Guardian makes a difference in the lives of people when they need us most. With more than 160 years of stability and fiscal integrity, we are a trusted resource to millions of consumers, helping them prepare and plan for a bright future and recover and thrive in times of unexpected loss. We believe in inspiring well-being across mind, body, and wallet, and in driving value beyond dividends. We invest in our colleagues, are building a progressive and inclusive culture, and are helping to uplift communities through thoughtful social and environmental programs. Guardian, which is based in New York City, is a leading provider of life, disability, dental, and other benefits, and has received accolades for its culture and service. Our colleagues and financial representatives serve with care and experience, and our commitments rest on a strong financial foundation, which at year-end 2022 included $11 billion in capital and the largest dividend of $1.26 billion in the company's history. For more information, visit guardianlife.com or follow us on Facebook, LinkedIn, Twitter, and YouTube.

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