The Guardian Life Insurance Company of America announced that its Board of Directors approved a record dividend allocation of $1.26 billion to eligible individual life policyholders and increased its Dividend Interest Rate to 5.75%. The 2023 dividend marks the largest payout in the company’s 162-year history and is 11.7% higher than the 2022 dividend.
“Guardian continues to deliver remarkable results year after year for our policyholders,” said Andrew McMahon, Guardian Chief Executive Officer and President. “We are all faced with mounting economic uncertainty and the pressures of high inflation, yet Guardian stands out in the industry with an increased dividend allocation for 2023, underscoring the important steps we have taken as a mutual company to meet and exceed the financial well-being expectations of our policyholders.”
Guardian’s increased dividend rate reflects its strong financial position, supported by a multi-year strategy of growing complementary businesses, sound underwriting, and long-term investment approach. The company has also taken steps to unlock greater value for consumers by managing capital efficiently and optimizing its business portfolio for growth. Recent key transactions include the divestiture of ReedGroup and the reinsurance of Guardian’s variable annuity business.
Guided by its purpose to inspire well-being, Guardian continues to evolve its business to expand how it serves its consumers, colleagues, and communities. With a commitment to service excellence and differentiated product offerings to support consumers’ financial, emotional, and physical well-being, Guardian’s recent achievements include:
- J.D. Power recognized Guardian Life for the 12th consecutive year for providing “An outstanding customer service experience” for phone support.
- Enhanced financial strength reaffirmed by three independent ratings agencies, including an upgrade by Moody’s, resulting in a composite Comdex score increase to 99 that places Guardian in the 1% of carriers based on claims paying ability.
- Launch of emotional well-being and mental health benefits and an enhanced core Dental product for Guardian’s Group Benefits customers.
Guardian is a Fortune 250 mutual company based in NYC and a leading provider of life, disability, dental, and other benefits. At year-end 2021 the company had $10.7 billion in capital and $1.9 billion in operating income. For more information, please visit guardianlife.com.
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