Guardian Publishes Its 2022 Annual Report
The Guardian Life Insurance Company of America® (Guardian) released “The Guardian Annual 2022: Moments that matter,” which documents steady progress toward the transformation of the 163-year-old Company, as well as its continued financial strength during a year of inflation and rising interest rates.1
With a focus on innovation, internal culture, and the moments that matter most to Guardian’s consumers, the report presents key accomplishments around the Company’s strategic priorities to wow the consumer, reimagine mutuality, and unleash what’s possible. Stories that underscore the real-life impact of the Company’s innovative products and compassionate service also punctuate the report.
The Guardian Annual details new annuity options, dental plans, and bereavement services that are direct outcomes of Guardian’s deep focus on the consumer. Empathy for what the consumer is experiencing at critical points of interaction has also been incorporated into employee training and the redesign of online transactions, programs, and platforms. Last year, Guardian also received numerous awards and accolades for its excellent customer service and work environment.
Guardian continued its unwavering legacy of financial strength and stability in 2022, highlighted by an increased Moody’s rating2 and improved Comdex score.3 The Company also paid its highest dividend in Guardian’s history to participating whole life policyholders.4
“The past year was just the beginning of our transformation,” notes Andrew J. McMahon, Chief Executive Officer and President. “There is more to come, as we make progress on our strategy that will build on Guardian’s legacy of serving consumers and will make us a leading champion of well-being year after year.”
Key financial information highlighted in the report includes:
Premium growth of 6%
Operating income of $1.7 billion
$11 billion of capital
Record dividend allocation of $1.26 billion and dividend interest rate increase to 5.75%
Moody’s Investors Service ratings increase to Aa1, Stable
Comdex score of 99 out of 100
Kevin Molloy, Chief Financial Officer, notes, “We have responded quickly and effectively to changing market conditions, focused resources where we can deliver the most value for customers and invested for growth in our general account investment portfolio capabilities. Our results and ratings reflect our success.”
Guardian Recognized As One Of ‘India’s Best Workplaces™ for Women 2021’ By The Great Place to Work® Institute
Guardian India Operations Private Limited, a subsidiary of The Guardian Life Insurance Company of America® (Guardian Life), a Fortune 250 company, one of the largest mutual life insurers and a leading provider of employee benefits in the US, has been recognized as one of ‘India’s Best Workplaces™ for Women 2021’ – Top 100 by the Great Place to Work® Institute, India, under the large organizations category. This recognition symbolizes building a High-Trust, High-Performance Culture™ that offers a workplace where women colleagues thrive, feel empowered, and build camaraderie in an inclusive environment and culture.
More than 700 organizations were evaluated and studied based on criteria from The Institute Gender Parity in Experience & Representation across various levels to arrive at India’s Best Workplaces™ for Women 2021. As a global authority on workplace culture, Great Place to Work® has been studying employee experience and people practices across organizations for over three decades. Every year, more than 10,000 organizations from over 60 countries partner with Great Place to Work® Institute for assessment, benchmarking and planning of actions to strengthen their workplace culture.
In India, the research conducted by Great Place to Work® has focused on the level of trust in workplaces, what drives employee experience, and its impact on the business outcomes. The research reveals that there is a clear and direct relationship between employee engagement and company performance, and that best workplaces consistently outperform.
“Inclusion and diversity is an important pillar of our success. We continually invest in and inspire – colleagues to progress into leadership roles and manage increased responsibilities across the organization. We are committed to drive a greater sense of inclusion across Guardian and foster an environment where every colleague feels valued, heard and respected.” said Dean Del Vecchio, Executive Vice President, Chief Information Officer and Chief of Operations, Guardian Life.
“This recognition is a testimony to the programs and initiatives that helped in building an inclusive workplace in India and symbolizes our commitment to create a culture that focuses on inclusion, learning and innovation.” said Ajay Jain, Chief Executive Officer, Guardian India Operations Private Limited.