How does a company get to be over 150 years old, while still staying relevant today? The answer lies in maintaining a strong set of values while keeping our clients’ needs primary in everything we do. As a mutual insurance company, Guardian is owned by policyholders who share in the company’s actual financial results through annual dividends*. These payments are determined by the firm’s profits, and Guardian has paid a dividend every year since 1868. The company takes the very long view, invest soundly, and maintain a strong capital base that enables it to meet its insurance commitments today and far into the future. Its sole responsibility is to its clients and policyholders, and that is reflected in everything the company does.
Guardian keeps its founding principles in sight, and regard them as critical to the success and integrity of the company. Each employee and financial representative lives by Guardian’s values
- Do the right thing
- People count
- Hold yourself to very high standards
Since being founded in 1860 – more than 150 years ago – Guardian has been dedicated to protecting individuals, their families, and businesses.
It all began at Delmonico’s restaurant in New York City, where a group of 21 prominent German-American businessmen, led by civil rights lawyer Hugo Wesendonck, gathered to create the Germania Life Insurance Company of America. The founders raised $200,000 in equity capital, which was twice the amount required by New York State law, showcasing that from the beginning, it has been committed to being financially strong for the long-term benefit of policyholders.
Renamed “The Guardian Life Insurance Company of America” in 1918, it converted in 1925 from a mixed stock and mutual company into one that is wholly owned by our policyholders. It continued to expand its product portfolio over the years, expanding into the employee benefits market in 1957 and increasing its presence in the individual disability income insurance market with the merger of Berkshire Life Insurance Company of America in 2001.
Today, Guardian is one of the largest mutual insurance companies in the United States with over $6.8 billion in capital and $1.3 billion in operating income**. It has approximately 6,000 employees in the United States and a network of more than 3,000 financial representatives in more than 70 agencies nationwide.
*Dividends are not guaranteed. They are declared annually by Guardian’s Board of Directors.
** Before taxes and dividends to policyholders
Financial information concerning The Guardian Life Insurance Company of America as of December 31, 2014 on a statutory basis:
Admitted Assets = $45.3 Billion; Liabilities = $39.6 Billion (including $34.9 Billion of Reserves); and Surplus = $5.7 Billion.
