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Guardian Ratings and Company Information
Best Insurance Reports: A++
Url of page where rating was collected:
Best Rating: In addition to the superior rating from Best's Insurance Reports, Guardian receives high marks from other financial analysts that follow and rate insurance companies.
Type of Insurance Company: Mutual
Name of Parent Company:
The Guardian Insurance & Annuity Company, Inc.
Berkshire Life Insurance Company of America
Park Avenue Securities LLC (PAS)
RS Investment Management Co. LLC
Reed Group, Ltd.
Company History: In 1860 The Germania Life Insurance Company of America was formed by 21 businessmen. The company changed its name to the Guardian Life Insurance Company of America in 1917. The Guardian Life Group includes The Guardian Life Insurance Company of America, The Guardian Insurance and Annuity Company, Inc., and Berkshire Life Insurance Company of America as well as some additional subsidiaries and affiliated companies. A 2001 merger with Berkshire Life Insurance Company added distribution and capabilities in the disability income insurance marketplace. Guardian's marketing targets the upper income life insurance and disability income market and the small and medium size group employee benefits market. A primary strategy for growth is to improve its distribution by growing (and making more productive) its career agency system as well as by growing its independent agent and broker channels for individual insurance sales. Employee benefit sales are handled by Guardian's group representatives who work directly with clients and also through brokers. Guardian's main business segments include individual insurance, group insurance , equity products and disability income insurance. Equity products include mutual funds marketed by the career agents and by independent broker dealers. Guardian's thrift institution offers trust and fiduciary services which are sold by members of the career agency force. The individual markets operations are focused on the upper income small business owner and the market for professionals for life insurance and disability income insurance. The career agency force is more experienced than the industry average (having a retention rate double that of the industry). Their average case size and average premium per policy are also significantly higher than that of peer companies. Guardian continues its efforts to expand alternative distribution as well as to create marketing target to ethnic groups and women. Guardian's group insurance segments focuses on small and medium size groups for employee benefits and includes offerings for medical, dental, vision, disability and life sold by the career agency force, brokers and through worksite marketing. Guardian's Equity Products segment includes variable life, variable annuities and mutual funds distributed by the career agents and by brokerage firms. The career agents produced two-thirds of the sales of variable annuities in recent years.
Principle Sales Methods: Sells through own offices nationwide.
Life Annuity Business: Guardian Life Insurance Co. sells a variety of Life Insurance products to individuals and businesses. The company offers whole life insurance, universal and variable universal life insurance, and term insurance to individuals. Whole life dividends declared totaled up to over $776 million in 2013. The company has approximately $307 billion life insurance in force on a consolidated basis.
Health Business: Guardian Life Insurance Co. offers a range of health-related options for employers to cover employees, such as disability, vision, dental, and critical illness plans.
Company Financial Status:
Assets & Premiums: Capital: $6.1 billion at the end of 2013
Assets: $42.06 billion
Standard & Poor's rating: AA (very strong)
Moody's rating: Aa2 (Excellent)
Lines of Insurance:
Health, Long Term Care, Life, Disability
States licensed to sell insurance in:
AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY