The Guardian Life Insurance Company of America has announced its dividend for 2013 on all participating policy holders. Guardian will pay out a total of $803 million in dividends to its policy holders, the largest dividend payout in the Guardian's history.
While Guardian should be very pleased with the announcement of its largest dividend payout over its 150+ year history, the announcement also disclosed its dividend interest rate for 2013, 6.65%. Certainly a competitive rate among other mutual insurers, but a 30 basis point drop from 2012's rate.
Guardian's release also came with no financial data regarding sales performance for 2012. This could be due to Guardian's current Home Office displacement–7 Hanover Square, the office building that houses Guardian's Home Office located in New York City's Financial District was damaged due to flooding from Hurricane Sandy and the building is currently closed down.
We'll continue to bring you updates from Guardian Life and other insurance company dividend announcements.
Brandon launched the Insurance Pro Blog in July of 2011 as a project to de-mystify the life insurance industry. Brandon was born in Northern New England, and he currently calls VT home. He attended Syracuse University and graduated with a triple major in Economics, Public Administration, and Political Science.