on long-term promises - guardian life on long-term promises ... built a wide portfolio of products...
TRANSCRIPT
2011 ANNUAL REPORT
DELIVERINGON LONG-TERM PROMISES
The Guardian Life Insurance Company of America7 Hanover SquareNew York, NY 10004-4025www.GuardianLife.com
Pub 5401
GU
AR
DIA
N A
NN
UA
L REP
OR
T 2011
TABLE OF CONTENTS
2 LETTER TO POLICYHOLDERS
3 FINANCIAL HIGHLIGHTS
5 EXECUTIVE MANAGEMENT & BOARD OF DIRECTORS
6 DELIVERING ON LONG-TERM PROMISES
16 2011 FINANCIALS
18 IMPORTANT INFORMATION
20 COMPANY LISTINGS
28 CONTACT US
GUARDIAN SUBSIDIARIES AND AFFILIATES
Berkshire Life Insurance Company of America (BLICOA)e-Money Advisor Holdings, LLCFirst Commonwealth, Inc.Guardian Baillie Giff ord LimitedGuardian Investor Services LLC (GIS)The Guardian Insurance & Annuity Company, Inc. (GIAC)Innovative Underwriters, Inc.Managed Dental Care (California)Managed DentalGuard, Inc. (New Jersey)Managed DentalGuard, Inc. (Ohio)Managed DentalGuard, Inc. (Texas)Park Avenue Life Insurance Company Park Avenue Securities LLCRS Investment Management Co. LLC
Guardian is an Equal Opportunity Employer
Design by Agenda:www.agendanyc.com
1DELIVERINGDELIVERING ONON LONG-TERMLONG-TERM PROMISESPROMISES || GUARDIANGUARDIAN 20112011
MY COLLEAGUES AND I KNOW WE
NEED TO EARN YOUR CONFIDENCE EACH
AND EVERY DAY. WE WILL CONTINUE
TO MAKE OUR POLICYHOLDERS’ NEEDS,
AND DELIVERY ON OUR LONG-TERM
PROMISES, OUR HIGHEST PRIORITY—
THROUGH THE QUALITY OF THE DECISIONS
WE MAKE, AND THE INTEGRITY, HARD
WORK, AND DEDICATION OF OUR PEOPLE.
DEANNA M. MULLIGANPresident and Chief Executivef Officerffi
Scan here with your mobile device to visit our annual report online at www.ar.guardianlife.com
2 DELIVERING ON LONG-TERM PROMISES | GUARDIAN 2011
I am pleased to report Guardian delivered a strong performance in 2011 despite continuedweakness in the economy. We declared the highest dividend payout to our individual life policyholders in our history, $795 million. Our capital, a key indicator of our financial position, figrew by $117 million to $5.5 billion. We generated record sales results in our businesses and grew our career agent network. Additionally, all four major credit ratings agencies affirmed ourffialready strong financial strength ratings.fi
These results demonstrate that our company continues to provide products and services that address our clients’ needs, even in a climate of fi nancial uncertainty. What’s more, fiour life insurance policyholders renewed their policies at a rate that is among the highest in the industry.
Our accomplishments speak to the contributions of Guardian’s more than 8,000 home offi ce and fiffi eld associates, whose hard fiwork, dedication, and commitment to quality and service place them among the best in the industry. All of us at Guardian are proud of these results and the manner in which we achieved them: ethically, socially responsibly,
and by embracing the enduring values that have guided us for over 150 years: we do the right thing; people count; and we hold ourselves to very high standards.
In succeeding Dennis J. Manning as CEO in July 2011, I am the benefi ciary of his signififi cant ficontributions to our company as well as those of the generations of leadership that came before me. Like Dennis and his predecessors, I am fully committed to building for the future and leaving the company even stronger than it is today. It is an honor to be part of this tradition of safeguarding our policyholders’ trust.
My colleagues and I know we need to earn your confi dence each and every day. We will ficontinue to make our policyholders’ needs, and delivery on our long-term promises, our highest priority—through the quality of the decisions we make, and the integrity, hard work, and dedication of our people.
DEANNA M. MULLIGANPresident and Chief Executive Officer ffi
TO OUR POLICYHOLDERS
3DELIVERING ON LONG-TERM PROMISES | GUARDIAN 2011 33DELIVERINGDELIVERING ONON LONG-TERMLONG-TERM PROMISESPROMISES || GUARDIANGUARDIAN 20112011
GUARDIAN FINANCIAL HIGHLIGHTS
2 0 1 0 2 0 11
B E N E F I T S PA I D T O P O L I C Y H O L D E R S ( O N A C O N S O L I D AT E D B A S I S )
$5.0 BILLION$4.9 BILLION
C A P I TA L
$5.5 BILLION$5.3 BILLION
S TAT U T O R Y G A I N F R O M O P E R AT I O N S B E F O R E TA X E S A N D D I V I D E N D S T O P O L I C Y H O L D E R S
( O N A C O N S O L I D AT E D B A S I S )
$1,101 MILLION$1,082 MILLION
$273 BILLION
$795 MILLION
$258 BILLION
$740 MILLION
L I F E I N S U R A N C E I N F O R C E ( O N A C O N S O L I D AT E D B A S I S )
W H O L E L I F E D I V I D E N D S D E C L A R E D
3DELIVERING ON LONG-TERM PROMISES | GUARDIAN 2011
DELDELIVEIVERINRING OG ON LN LONGONG-TE-TERM RM PROPROMISMISES ES | G| GUARUARDIADIAN 2N 201101144
( F( Fromrom le left ft to to rigright ht ))
RobRobertert Br Broatoatch,ch, Br Bradladley ey ThoThomasmas,,DeaDeannanna Mu Mullilligangan, T, Thomhomas as SorSorellell, , ScoScott tt DolDolfi ,fi , Tr Tracyacy Ri Richch
DELIVERING ON LONG-TERM PROMISES | GUARDIAN 2011 5
BOARDOF DIRECTORS
EXECUTIVE MANAGEMENT
John J. BrennanChairman Emeritus, Vanguard
Robert E. Broatch, CPA Executive Vice President,Chief Financial Officer, Risk andffiOperational Excellence, The Guardian Life Insurance Company of America
Lloyd E. CampbellConsultant, Spencer Stuart
Richard E. CavanaghRetired President and Chief Executive Offi cer, The Conference Board, Inc.ffi
Nancy E. CooperRetired Executive Vice Presidentand Chief Financial Officer,ffiCA Technologies
James E. DaleyRetired Executive Vice President, Electronic Data Systems Corporation
Deborah L. DuncanExecutive Vice President and Chief Financial Officer, Fremont Groupffi
Paul B. GuentherRetired President,PaineWebber Group, Inc.
Deanna M. MulliganPresident and Chief Executive Officer,ffiThe Guardian Life Insurance Companyof America
John A. SomersFormer Executive Vice President and Retired Head of Fixed Income and RealEstate, Teachers Insurance and Annuity Association
Stephen J. SqueriGroup President, Global Corporate Services, American Express Company
Donald C. Waite IIIDirector, Offi ce of Executives in ffiResidence and Adjunct Professor, Columbia Graduate School of Business
INDEPENDENT ACCOUNTANTS
PricewaterhouseCoopers LLPNew York, NY
Deanna M. MulliganPresident and Chief Executive Officer ffi
Robert E. Broatch, CPA Executive Vice President, Chief Financial Officer, Risk and ffiOperational Excellence
D. Scott DolfiChief Operating Officerffi
Tracy L. RichExecutive Vice President,General Counsel, and Corporate Secretary
Thomas G. Sorell, CFA Executive Vice Presidentand Chief Investment Officer ffi
Bradley A. ThomasInterim Executive Vice President,Human Resources
DELIVERING ON LONG-TERM PROMISES | GUARDIAN 20116
MUTUALITY
Because Guardian is a mutualcompany, it is managed in the best interests of its owners—the policyholders. Mutuality allows the company to operate for the long term, guided by core values that ensureGuardian is doing the right thing for its customers.
How does being a mutual companymake Guardiandiff erent fromffffa publicly held company?
Since our policyholders are also our owners, everythingwe do is aimed at serving their best interests. Unlike publicly held companies, we have no stockholders,
and therefore no confl icts flbetween the short-termdemands of Wall Street andthe long-term interests of our policyholders. Freed from having to pursue immediate gains through overly aggressive product pricing or risky investments, we’re able to focus on maintaining ourfi nancial strength.fi
How does Guardian’s mutuality benefit ficustomers?
Whole life policyholders benefit directly from our fimutual structure through the dividends paid to them, whichserve to lower the long-term net cost of our whole life policies.The prudent and effi cient way ffiwe manage our company hashistorically allowed us to pay competitive dividends.
All of our clients benefi t fifrom our rigorous risk management, which helps us to perform well in difficultffieconomic periods. We have built a wide portfolio of products that not only enhance the range of customer needs we canmeet, but also contribute to our business diversity, stability and, ultimately, our policyholder dividend.
Finally, the long-term view aff orded by mutuality ffffallows us to invest in dedicated career FinancialRepresentatives and group benefits sales associates who fibuild lasting relationships with customers, helping them achieve security for their businesses and families through expert knowledge and guidance.
DELIVERING ON LONG-TERM PROMISES
DELDELIVEIVERINRING OG ON LN LONGONG-TE-TERM RM PROPROMISMISES ES | G| GUARUARDIADIAN 2N 2011011 77
FINANCIAL STRENGTH
GuGuarardidianan f fococususeses o on n mamainintataininining g a a ststrorongng fi finnanancicialal fifipoposisititionon a andnd p prorovivididingng v valalueueovoverer t thehe l lonong g tetermrm. . ThTheecocompmpanany y dodoeses n notot m mananagage e ququararteter r toto q quauartrterer, , bubut t ininststeaead d lolookoks s yeyearars s anand d dedecacadedes s ahaheaeaddtoto e ensnsurure e itit w wilill l bebe h herere e toto p payay popolilicycy c clalaimims s inin t thehe f fututurure.e.
HoHow w didid d GuGuarardidiananpeperfrfororm m fifi n nanancicialallyly fifiinin 2 201011?1?
DeDespspitite e ththe e chchalallelengngining g ececononomomicic e envnvirirononmementnt, , wewe cocontntininueued d toto b buiuildld o on n ouour r fifi n nanancicialal s strtrenengtgth h inin 2 201011.1. O Oururfificocompmpanany’y’s s cacapipitatal l inincrcreaeaseseddtoto $ $5.5.5 5 bibillllioion,n, a a 2 2% % inincrcreaeasese ovoverer t thehe p prereviviouous s yeyearar,,bobolslsteterered d prprimimararilily y byby s sololididopopereratatining g reresusultlts s anand d gagaininssonon p pririvavatete e eququitity y hoholdldiningsgs..WeWe a alslso o coconcncluludeded d ththe e yeyearar
wiwithth r risisk-k-babasesed d cacapipitatal l ofof 48486%6%, , inindidicacatitiveve o of f onone e ofof t thehe ststrorongngesest t cacapipitatal l poposisititionons s ininththe e lilifefe i insnsururanancece i indndusustrtry.y.CoConsnsololididatateded s statatututotoryry opopereratatining g inincocomeme b befeforore e didivividedendnds s wawas s $1$1,1,10101 m milillilionon, , upup 2 2% % frfromom t thehe p prereviviouous s yeyearar. .
InIn a addddititioion,n, w we e dedeclclararededwhwholole e lilifefe d divivididenendsds o of f $7$79595mimillllioion—n—ouour r lalargrgesest t didivividedendnd toto p pololicicyhyhololdedersrs e evever.r. S Sevevereralalfafactctorors s cocontntriribubuteted d toto t thihissrerecocordrd-s-setettitingng r resesulult—t—ouourr
20200707 20200808 20200909 20201010 20201111
$$666644
$$772233 $$771122$$774400
$795
WWHHOOLLEE LLIIFFEEDDIIVVIIDDEENNDDSS DDEECCLLAARREEDDRERESUSULTLTS S ININ $ $ M MILILLILIONONSS
DELDELIVEIVERINRING OG ON LN LONGONG-TE-TERM RM PROPROMISMISES ES | G| GUARUARDIADIAN 2N 201101188
exexcecellllenent t bubusisinenessss r resesulultsts a andnd cacarerefuful l exexpepensnse e mamananagegemementnt,,asas w welell l asas b betetteter r ininveveststmementnt eaearnrniningsgs, , momortrtalalitity y cocoststs,s,anand d opopereratatining g exexpepensnseses t thahannunundederlrlieie t thehe g guauararantnteeees s ininouour r popolilicicieses. .
HoHow w dodo t thehe m majajoror raratitingng a agegencncieies s raranknkGuGuarardidianan’s’s fi finnanancicialal fifiststrerengngthth??
AlAll l fofourur m majajoror c creredidit t raratitingngssagagenencicieses a affiffi rmrmeded o ourur a alrlreaeadydyffiffiststrorongng fi finnanancicialal s strtrenengtgthhfifiraratitingngs s inin 2 201011.1. F Fititchch a andnd StStanandadardrd & & P Poooor’r’s s rarateted d usus A AA+A+, , MoMoodody’y’s s AaAa2,2, a andndA.A.M.M. B Besest t CoCompmpanany y gigiveves s usus i itsts h higighehestst r ratatining g fofor r lilifefe ininsusurarancnce e cocompmpananieies,s, A A++++..WeWe h havave e reretatainineded t thehe s samame e raratitingngs s sisincnce e 20200808, , whwhenen wewe w werere e ththe e ononlyly m majajoror l lififeeininsusurarancnce e cocompmpanany y upupgrgradadededbyby t twowo r ratatining g agagenencicieses d dururining g
ththe e woworsrst t fifinnanancicialal d dowowntntururnnfifisisincnce e ththe e GrGreaeat t DeDeprpresessisionon. .
RISK MANAGEMENT
EnEnteterprpririsese r risisk k mamananagegemementntininvovolvlveses s strtrikikining g ththe e ririghght t babalalancnce e bebetwtweeeen n ririsksk a andnd rerewawardrd t to o prprovovidide e lolongng-t-tererm m vavalulue e anand d ststababililitity.y. G Guauardrdiaian’n’sscocompmprerehehensnsivive e apapprproaoachch toto t thihis s prprococesess s cocoveversrs a allllasaspepectcts s ofof t thehe c comompapanyny’s’s bubusisinenessss—i—incncluludidingng c capapititalal,,ininveveststmementnts,s, p proroduductcts,s,exexpepensnseses, , anand d seselelectctioion n ofof unundederwrwrirititingng c cririteteriria.a.
HoHow w dodoeses G Guauardrdiaian n dedetetermrminine e ththeeamamouountnt o of f ririsksk i it t cacan n tatakeke a andnd s stitillll r rememaiain n fifi n nanancicialallyly s strtronong?g?fifi
OuOur r cocompmpanany’y’s s ririsksk--mamananagegemementnt p pololicicieies s anand d prpracactiticeces s arare e dedesisigngneded t to o hehelplpusus m maiaintntaiain n ouour r fifi n nanancicialal fifiststrerengngthth a andnd p payay c comompepetitititivevedidivividedendnds s toto p pololicicyhyhololdedersrs. .
WeWe h havave e esestatablblisishehed d a a prpresesetettotolelerarancnce e fofor r cacapipitatal l ananddinincocomeme v vololatatililitity y inin c chahallllenengigingngececononomomicic s scecenanaririosos. . ThThisis apapprproaoachch i infnforormsms t thehe k kinind d ofof p proroduductcts s ouour r cocompmpanany y offoffeersrs, , ththe e tytypepes s ofof r risisksks w we e ffffffffunundederwrwriritete a andnd a accccepept,t, a andnd t thehecocompmpososititioion n anand d coconcncenentrtratatioion n ofof o ourur i invnvesestmtmenentsts..
DELIVERING ON LONG-TERM PROMISES | GUARDIAN 2011 9
Our company also makes extensive use of reinsurance,hedging strategies, and other proven methods to manage risks to acceptable tolerances. These practices have helped us successfully navigate the volatility in today’s still-uncertain global economic environment.
How does Guardianmanage the risks to its investmentportfolio?
While we use manysophisticated risk-management tools, we also emphasizediversifi cation and research.fiOur equity portfolios vary byinvestment style, capitalization,geography, and manager. Our fi xed income portfolio spans fia wide range of assets and credit ratings. Our private equity and real estate holdings
are also well differentiated. ffffWe monitor the markets closely and have processes in place that allow us tomove quickly and decisivelyif risks are exceeding tolerance. Moreover, our company regularly stress tests our balance sheet and many individual investments todetermine how they would perform in a range of scenarios.
CAPITALRESULTS IN $ MILLIONS
2007 2008 2009 2010 2011
$4,628
$4,256
$4,920
$5,343 $5,460
DELDELIVEIVERINRING OG ON LN LONGONG-TE-TERM RM PROPROMISMISES ES | G| GUARUARDIADIAN 2N 20110111010
ThThisis r rigigororouous s apapprproaoachch t to o poportrtfofolilio o mamananagegemementnt h hasas yiyieleldeded d a a rerecocordrd o of f susuccccesess.s.InIndedepependndenent t rereseseararchchanand d ananalalysysisis o of f cocompmplelexxsesecucurirititieses h hasas e enanablbleded o oururcocompmpanany y toto a avovoidid m manany y ofof ththe e susubpbpririmeme l loaoansns a andnd o oththerer unundederprpererfoformrmining g sesecucurirititieses ththatat p proroveved d dedetrtrimimenentatal l totonunumemerorousus o orgrgananizizatatioionsns i in n 20200808. . OuOur r momorere r rececenent t ririsksk--cocontntrorol l effeff o ortrts s hahaveve h helelpepeddffffffffmimininimimizeze e expxpososurure e toto t thehe EuEuroropepeanan d debebt t crcrisisisis. .
WeWe c conontitinunue e toto e evovolvlve e anand d adadapapt t asas c cirircucumsmstatancnceses chchanangege o ovever r titimeme. . FoFor r exexamamplple,e,ouour r cocompmpanany y isis c cururrerentntlyly momoninitotoriringng a andnd e evavaluluatatininggememerergigingng i issssueues s ththatat i incncluludede ececononomomicic a andnd c conontatagigionon ununcecertrtaiaintntieies s asassosociciatateded w witith h ththe e EuEuroropepeanan d debebt t crcrisisisis,,popolilititicacal l tuturbrbululenencece i in n ththe e MiMiddddlele E Easast t anand d NoNortrth h AfAfriricaca, ,
ririsisingng e enenergrgy y prpriciceses, , ananddththe e popossssibibililitity y ththatat i intntereresesttraratetes s cocoululd d eieiththerer r rememaiainnexexceceptptioionanalllly y lolow w fofor r anan exextetendndeded p pererioiod d oror r risise e momorere shshararplply y ththanan a antnticicipipatateded. . WeWe e expxpecect t cocontntininueued d mamarkrketetvovolalatitililityty a andnd a arere p pososititioioniningng ouour r poportrtfofoliliosos t to o dedealal w witith h a a wiwidede r ranangege o of f cocontntiningegencncieies.s.
MANAGING THE MARKETS
ThThe e ininveveststmementnt e envnvirirononmementnthahas s bebeenen c chahallllenengigingng f foror seseveveraral l yeyearars,s, a andnd 2 201011 1 wawassnono e excxcepeptitionon. . DeDespspitite e ththeevovolalatitilele c clilimamatete, , GuGuarardidianan’s’s ininveveststmementnt p porortftfololioio cocontntininueued d toto p pererfoformrm w welell.l.
WhWhatat i is s GuGuarardidianan’s’sovovereralall l ininveveststmementntobobjejectctivive?e?
OuOur r cocompmpanany’y’s s prprimimarary y ininveveststmementnt o objbjecectitiveve i is s toto gegeneneraratete a attttraractctivive e reretuturnrns s fofor r popolilicycyhoholdlderers s ovoverer t thehe l lononggtetermrm w whihilele p prorotetectctining g fifinnanancicialalfifiststrerengngthth. . MaMananagigingng t thehe r risisksks ofof o ourur a assssetets s inin a accccorordadancnce e wiwithth o ourur o oblbligigatatioionsns t toopopolilicycyhoholdlderers s isis a a t topop p pririororitity.y.
WeWe s seeeek k toto m meeeet t ththesese e obobjejectctiviveses b by y ememplployoyining g aalolongng-t-tererm m asasseset t alallolocacatitionon ststraratetegygy, , auaugmgmenenteted d byby tatactcticicalal a adjdjusustmtmenentsts. . WeWe cocontntininuaualllly y momoninitotor r anand d evevalaluauatete a allll o of f ouour r ininveveststmementnt sesectctoror c clalasssseses, , shshififtitingngpoportrtfofolilio o alallolocacatitionons s totowawardrdththosose e ththatat a appppeaear r momostst atattrtracactitiveve w whihilele r rememaiaininingng hihighghlyly d diviverersisififieed.d.fifi
DELDELIVEIVERINRING OG ON LN LONGONG-TE-TERM RM PROPROMISMISES ES | G| GUARUARDIADIAN 2N 2011011 1111
WhWhy y didid d GuGuarardidianan’s’sininveveststmementnt p porortftfololioio peperfrfororm m soso w welell l inin 2 201011?1?
ThThe e onongogoining g susuccccesess s ofof o oururininveveststmementnt s strtratategegy y isis a a reresusultlt o of f acactitiveve p porortftfololioio a andndririsksk-m-mananagagememenent t prpracactiticeces,s,exexececututeded b by y anan e expxpererieiencncededteteamam o of f prprofofesessisiononalals s whwhoohahaveve w wororkeked d ththrorougugh h prprevevioioususpepeririodods s ofof m mararkeket t tuturbrbululenencece..ThTheyey t thohororougughlhly y ananddinindedepependndenentltly y rereseseararchch
eveverery y dedecicisisionon, , whwhilile e kekeepepining g aaclclosose e wawatctch h onon m macacroroececononomomicic, , popolilititicacal,l, a andnd c comompepetitititivevededevevelolopmpmenentsts..
BUILDING RELATIONSHIPS
GuGuarardidianan’s’s fi fi e eldld a assssocociaiatetes s fifiprprovovidide e anan e essssenentitialal l linink k bebetwtweeeen n ththe e cocompmpanany y anand d itits s cucuststomomerers.s. T Theheirir k knonowlwlededgegeanand d exexpeperirienencece, , cocoupupleled d wiwithth GuGuarardidianan’s’s p proroduductcts s anand d seservrviciceses, , cacan n hehelplp s sececurure e ththee
wewellll-b-beieingng o of f inindidivividudualals,s, fafamimililieses, , anand d bubusisinenesssseses..
WhWhatat a arere t thehebebenenefifitts s ofof s serervivingngfifipopolilicycyhoholdldererssththrorougugh h cacarereerer agagenentsts a andnd g groroupup sasaleles s rereprpresesenentatatitiveves?s?
OuOur r cocompmpanany y atattrtracactsts,,trtraiainsns, , anand d reretatainins s FiFinanancnciaiallReReprpresesenentatatitiveves s whwho o bubuilild d lolongng-t-tererm m rerelalatitiononshshipips s wiwithth
GGUUAARRDDIIAANN GGEENNEERRAALL IINNVVEESSTTMMEENNTT PPOORRTTFFOOLLIIOO PPRROOFFIILLEE:: YEYEARAR-E-ENDND 2 2010111
FIXFIXED ED INCINCOMEOME
5353.2.2%%PRIPRIVATVATE PE PLACLACEMEEMENT NT DEBDEBTT
1515.3.3%%COMCOMMERMERCIACIAL ML MORTORTGAGGAGES ES
9.9.6%6%POLPOLICYICY LO LOANSANS
8.8.7%7%
AFFAFFILIILIATEATES &S &SUBSUBSIDSIDIARIARIESIES
4.4.0%0%
PRIPRIVATVATE &E & RE REALALESTESTATEATE EQ EQUITUITYY
3.3.8%8%
PUBPUBLICLIC EQ EQUITUITYY
2.2.6%6%OTHOTHERER
2.2.8%8%
DELIVERING ON LONG-TERM PROMISES | GUARDIAN 201112
their clients and provide individualized solutions to help them make informeddecisions about insurance and fi nancial needs. Theyfiachieve this by sharing theirstrong knowledge of wealth protection, accumulation, and distribution products as they guide clients through the many decisions they face throughmultiple stages of life.
This same relationship-focused approach extendsto our group employee benefits business, which has fisome of the longest tenuredsales representatives in theindustry. Recognizing that no two businesses are alike, they work with employee benefits brokers to analyze fieach company’s unique circumstances and create tailored, comprehensive, and cost-eff ective strategies toffff
help employers attract and retain the best employees, and meet their coverage needs.
How does Guardianequip its careeragency field force to fiserve customers?
Our Financial Representatives can take advantage of a fullrange of life insurance andfi nancial products that our ficompany and subsidiarieshave developed to protecttheir clients’ fi nancial futuresfiand that of loved ones. These include policies that providea benefi t in the event that fia policyholder is prevented from working in their professiondue to disability; annuities to help accumulate assets for retirement; and mutual funds and other investmentproducts and services.
Financial Representatives also use sophisticated tools such as The Living BalanceSheet®, our custom-built,Web-based client servicingsystem, which provides 24-hour access to important personal documents, and coordinates account information from a menu of more than 6,000 financial fiinstitutions. It also helps clients gauge their financialfifi tness by highlighting theirassets, liabilities, insurance protection, net worth, and overall cash fl ow, giving flthem a holistic view of their finances.fi
DELDELIVEIVERINRING OG ON LN LONGONG-TE-TERM RM PROPROMISMISES ES | G| GUARUARDIADIAN 2N 2011011 1313
WhWhatat i is s GuGuarardidianan’s’sphphililososopophyhy a aboboututcucuststomomerer s serervivicece??
WeWe c conontitinunualallyly i invnvesest t inin o ourur pepeopoplele, , prprococesesseses,s, a andnd tetechchnonolologygy t to o mamakeke i it t eaeasisiererfofor r cucuststomomerers s anand d fifieeldldfifiasassosociciatateses t to o woworkrk w witith h usus. . ThThe e hihighgh q quaualilityty o of f ouour r seservrvicice e hahas s bebeenen w wididelely y rerecocogngnizizeded::•• J J.D.D. . PoPowewer r anand d AsAssosociciatateses awawarardeded d itits s prpresestitigigiouous s CaCallll C Cenenteter r CeCertrtifiifi c catatioion n totofifiouour r ReRetitireremementnt S Sololututioionsns CaCallll C Cenenteter.r.
•• TThehe C Cusustotomemer r SeServrvicice e InInststititutute e ofof A Amemeriricaca h hononororeded ouour r grgrououp p ememplployoyeeee b benenefiefitts s fifiCuCuststomomerer R Resespoponsnse e UnUnitit wiwithth I Intnterernanatitiononalal S Serervivicece ExExcecellllenencece A Awawardrds.s.•• DDALALBABAR,R, I Incnc. . awawarardeded d ouour r didisasabibililityty i incncomome e ininsusurarancnce e susubsbsididiaiaryry, , BeBerkrkshshirire e LiLifefe InInsusurarancnce e CoCompmpanany y ofof AmAmerericica,a, w witith h itits s 20201010 DADALBLBARAR S Seaeal l ofof E Excxcelellelencnce e foforrUnUndederwrwrirititingng a andnd i itsts S Seaeal l ofof ExExcecellllenencece f foror N Newew B Bususininesess s fofor r a a ththirird d coconsnsececututivive e yeyearar. . •• AAnonoththerer o of f ouour r susubsbsididiaiaririeses,,ThThe e GuGuarardidianan I Insnsururanancece
& & AnAnnunuitity y CoCompmpanany,y, I Incnc. . (G(GIAIAC)C), , rerececeiviveded t thehe 2 2010100DADALBLBARAR S Seaeal l ofof E Excxcelellelencnce e fofor r TrTranansasactctioion n PrPrococesessisingng,,asas w welell l asas t thehe 2 201010 0 AnAnnunuitity y SeServrvicice e AwAwarard.d. G GIAIAC C wawas s alalsoso awawarardeded d ththe e 20201010 D DALALBABAR R ReRecocogngnititioion n ofof E Excxcelellelencnceeinin C Calall l CeCentnterer S Supuppoportrt t to o FiFinanancnciaial l InIntetermrmedediaiaririeses f foror 40401(1(k)k) p proroduductcts.s.
20200707 20200808 20200909 20201010 20201111
$$11,,114422
$$998866$$11,,001155
$$11,,008822$1,101
SSTTAATTUUTTOORRYY PPRREE--TTAAXX OOPPEERRAATTIINNGG IINNCCOOMMEE BBEEFFOORREE DDIIVVIIDDEENNDDSSRERESUSULTLTS S ININ $ $ M MILILLILIONONSS
DELDELIVEIVERINRING OG ON LN LONGONG-TE-TERM RM PROPROMISMISES ES | G| GUARUARDIADIAN 2N 20110111414
OuOur r cocommmmititmementnt t tooimimprprovovining g seservrvicice e ququalalitityyththrorougugh h tetechchninicacal l ininnonovavatitiononisis d dememononststrarateted d byby G Guauardrdiaian n AnAnytytimime™e™, , ouour r ememplployoyeeee bebenenefifitts s WeWeb-b-babasesed d plplatatfoformrm fifiththatat p prorovividedes s 2424/7/7 s supuppoportrt f fororcucuststomomerers,s, p proroduducecersrs, , anand d seservrvicice e prprovovididerers.s.
FOCUSED ON GROWTH
GuGuarardidianan i is s fofocucusesed d onon acachihievevining g grgrowowthth b byyststraratetegigicacalllly y ininveveststining g inin n newew opoppoportrtununititieies s ththatat s supuppoportrt t thehe cocompmpanany’y’s s fifinnanancicialal s strtrenengtgthhfifianand d ststababililitity,y, a andnd e enhnhananceceitits s ababililitity y toto p payay c comompepetitititiveve popolilicycyhoholdlderer d divivididenendsds o oveverrththe e lolongng t tererm.m.
HoHow w didid d GuGuarardidiananpoposisititionon t thehe c comompapanynyfofor r fufututurere g grorowtwthhinin 2 201011?1?
OuOur r cocompmpanany y totookok a a n numumbeber r ofof s stetepsps i in n 20201111 t to o poposisititionon u ussfofor r fufututurere g grorowtwth h anand d hehelplp enensusurere c comompepetitititivevenenessss. . WeWe p prerepaparered d ouour r grgrououp p ememplployoyeeee b benenefiefitts s bubusisinenessssfififofor r ththe e chchanangeges s wewe e expxpecect t totoememerergege i in n a a popostst-h-heaealtlthchcarareererefoformrm w wororldld b by y exexpapandndining g ththe e seservrvicice e cacapapabibililititieses a andnd cucuststomomizizatatioion n ofof t thehe w wororksksitite e anand d vovoluluntntarary y bebenenefifitts s fifioffoffeeriringngs s ememplployoyerers s cacan n mamakekeffffffffavavaiailalablble e toto t theheirir e empmploloyeyeeses atat t thehe w wororkpkplalacece; ; brbroaoadedeniningng ththe e didiststriribubutitionon n netetwoworkrkssususeded t to o prprovovidide e ememplployoyeeee bebenenefifi t ts;s; a andnd i incncrereasasining g ththe e fifirarangnge e ofof c cusustotomemer r neneededsswewe c canan m meeeet t ththrorougugh h nenew w prprododucuctsts a andnd s sererviviceces.s.
WeWe r refefrereshsheded o ourur c corore e lilifefe ininsusurarancnce e prprododucuctsts, , asas w welell l asas sosomeme k keyey a addddititioionanal l bebenenefifitts s fifiththatat a arere u usesed d toto t taiailolor r lilifefeprprododucuctsts f foror p pololicicyhyhololdedersrs. . WeWe inintrtrododucuceded s sevevereralal i indndivivididuaual l didisasabibililityty p proroduductcts,s, a andnd mamadede s strtratategegicic a adjdjusustmtmenentststoto c chahangngeses i in n ththe e vavaririabableleanannunuitity y mamarkrketet. . AdAddidititiononalallyly,,wewe c conontitinunueded t to o exexpapandnd ouour r nanatitiononalal n netetwoworkrks s ofof FiFinanancnciaial l ReReprpresesenentatatitiveves s anand d grgrououp p ememplployoyeeee b benenefiefitts s sasalelessfifirereprpresesenentatatitiveves.s.
DELDELIVEIVERINRINGG ON ON LO LONG-NG-TERTERMM PR PROMIOMISESSES | | GU GUARDARDIANIAN 20201111 1515
WhWhatat i isstt tthehe rrololee o offGuGuarardidianan’s’s aassssetetmamananagegemementntbubusisinenessss i inn t thehecocompmpanany’y’ss ooveverarallllststraratetegygy??
OnOnee o off t theheff oobjbjecectitivevess ooff ooururffasassesett mmananagagememenentttt b bususininesesss iisstoto p prorovividede aa ccononsisiststenenttaa ssouourcrceeofof iincncomomeeff a andnd aann a apppproroprpriaiateteririsksk/r/retetururnn pprorofifille,e,fifi a ass wwelelll aasstoto eenhnhanancece tthehe ppololicicyhyhololdederrdidivividedendnd.. O Ourur c comompapanyny i issyyacachihieveviningg t thihiss t thrhrououghgh R RSSInInveveststmementnts,s, aa m majajororitityyaa oownwnededyysusubsbsididiaiaryry.. R RSS IInvnvesestmtmenentstsseseekekss t too d deleliviverer c comompepetitititiveve,,coconsnsisistetentnt r retetururnsns ggenenereratatededbyby aayy pprorovevennaa i invnvesestmtmenenttapapprproaoachch.. I Itt m meeeetsts c clilienentsts’’evevololvivingng n neeeedsds tthrhrououghghwewellll-d-desesigignenedd pproroduductctssmamananagegedd b byy eexpxpererttyy iinvnvesestmtmenenttttteteamams,s, aandnd b byy c conontitinunualallylyyybubuilildidingng a andnd ddiviverersisifyfyiningg iitstsdidiststriribubutitionon cchahannnnelels.s.
MATTHEW H. SCANLAN is Chief Executive Offi cer of RS Investment Management Co. LLC (“RS Investments”), the San Francisco-based investment management fi rm of which Guardian is the indirect majority owner. He also serves as President and Trustee of the RS Investment Trust and the RS Variable Products Trust. Matt joined the company in 2012 after more than 30 years of experience in the investment management industry.
RS Investments offers solutions for institutional and individual investors and the advisers that serve them. The fi rm and its affi liated sub-advisers have distinct teams comprised of experienced investors who have expertise in research-driven value, growth, core growth, natural resources, international, and fi xed income strategies. Founded in 1986, RS Investments has offi ces in San Francisco, CA, Chapel Hill, NC, and New York, NY. RS Investments has been a Guardian subsidiary since 2006.
DELIVERING ON LONG-TERM PROMISES | GUARDIAN 201116
As of December 31 (in millions) 2011 2010*
ADMITTED ASSETS
Bonds $23,057 $21,391
Unaffi liated common and preferred stocksffi 1,110 1,278
Investments in affi liatesffi 886 857
Mortgage loans 3,156 3,230
Private and real estate equity 1,247 910
Policy loans 2,889 2,720
Receivable for securities and other invested assets 457 500
Cash and short-term investments 221 357
TOTAL INVESTED ASSETS 33,023 31,243
Due and accrued investment income 341 331
Premiums deferred and uncollected 874 845
Net deferred tax asset 639 521
Other assets 253 238
TOTAL ADMITTED ASSETS $35,130 $33,178
LIABILITIES AND SURPLUS
Reserves for policy benefitsfi 26,768 25,131
Policyholder dividends payable and other contract liabilities 1,908 1,856
Interest maintenance reserve 241 170
Asset valuation reserve 489 539
Amounts due to brokers and other liabilities 1,151 1,051
TOTAL LIABILITIES 30,557 28,747
Policyholders’ surplus 4,177 4,035
Surplus note 396 396
TOTAL LIABILITIES AND SURPLUS $35,130 $33,178
STATUTORY BASIS BALANCE SHEETS
Results Are Guardian Life Only (Not Consolidated)The condensed fi nancial statements of The Guardian Life Insurance Company of America have been derived from audited fistatutory financial statements, which are available upon request.fi
*Certain amounts from 2010 have been reclassifi ed to conform to the current-year presentation. fi
2011FINANCIALS
DELDELIVEIVERINRING OG ON LN LONGONG-TE-TERM RM PROPROMISMISES ES | G| GUARUARDIADIAN 2N 2011011 1717
ForFor th the Ye Yearear En Endedded De Decemcemberber 31 31 (i (in mn millillionions)s) 20201111 20201010
REVREVENUENUESES
PrePremiumiums,ms, an annuinuity ty conconsidsideraeratiotions,ns, an and fd fundund de depospositsits $5,$5,875875 $5,$5,943943
NetNet in invesvestmetment nt incincomeome 1,71,71515 1,61,66565
OthOther er incincomeome 168168 200200
TOTTOTAL AL REVREVENUENUEE 7,77,75858 7,87,80808
BENBENEFIEFITS TS ANDAND EX EXPENPENSESSES
BenBenefiefi t t paypaymenments ts to to polpolicyicyholholderders as and nd benbenefiefififi ciciariariesesfifi 3,43,41212 3,53,50909
NetNet in increcreasease to to po policlicy by beneenefifit t resreservervesesfifi 1,61,63838 1,61,60707
ComCommismissiosions ns andand op operaeratinting eg expexpensensess 1,61,63737 1,61,63434
TOTTOTAL AL BENBENEFIEFITS TS ANDAND EX EXPENPENSESSES 6,66,68787 6,76,75050
GaiGain fn fromrom op operaeratiotions ns befbeforeore po policlicyhoyholdelder dr diviividendends ds andand ta taxesxes 1,01,07171 1,01,05858
PolPolicyicyholholderder di dividvidendends is incuncurrerredd (78(784)4) (73(730)0)
GaiGain fn fromrom op operaeratiotions ns befbeforeore ta taxesxes an and rd realealizeized ld lossosseses 287287 328328
IncIncomeome ta tax ex expexpensense (81(81)) (10(100)0)
IncIncomeome fr from om opeoperatrationions bs befoefore re netnet re realializedzed ca capitpital al loslossesses 206206 228228
NetNet re realializedzed ca capitpital al loslossesses (10(10)) (23(23))
NETNET IN INCOMCOMEE $19$196 6 $20$2055
STASTATUTTUTORYORY BA BASISSIS ST STATEATEMENMENTS TS OF OF OPEOPERATRATIONIONSS
DELDELIVEIVERINRING OG ON LN LONGONG-TE-TERM RM PROPROMISMISES ES | G| GUARUARDIADIAN 2N 20110111818
TheThe Gu Guardardianian In Insursurancance &e & AnnAnnuituity Cy Compompanyany, I, Inc.nc. (G (GIACIAC), ), aaDelDelawaaware re corcorporporatiation on thathat it is as awhowhollylly ow ownedned su subsibsidiadiary ry of of TheThe GuaGuardirdian an LifLife Ie InsunsuranranceceComCompanpany oy of Af Amermericaica, i, issussuesesannannuituitiesies an and vd variariablable le lifeifeinsinsuraurancence po policliciesies. V. Variariablable e annannuituitiesies, v, variariablable le lifeife in insursurancance e proproducducts,ts, an and md mutuutual al funfunds ds areareoffoff er ered ed thrthrougough th the he disdistritributbutororffffffffGuaGuardirdian an InvInvestestor or SerServicvices es LLCLLC(GI(GIS).S). GI GIAC AC andand GI GIS aS are re loclocateated ad at t 7 H7 Hanoanoverver Sq Squaruare, e, NewNew Yo York,rk, NY NY 10010004 04 (1-(1-800800-22-221-31-3253253).).
AnnAnnuituitiesies ar are le longong-te-termrminvinvestestmenment vt vehiehiclecles ds desiesignegned fd for or retretireiremenment pt purpurposeoses. s. WitWithdrhdrawaawalslsor or sursurrenrenderders ms may ay be be subsubjecject tt toosursurrenrenderder ch chargarges.es. Am Amounountstswitwithdrhdrawnawn ma may by be se subjubjectect to toordordinainary ry incincomeome ta tax ax and nd pospossibsiblelemanmandatdatoryory Fe Federderal al incincomeome ta tax x witwithhohholdilding ng andand, i, if tf takeaken pn priorior tr to o ageage 59 59½, ½, a 1a 10% 0% IRSIRS pe penalnalty ty maymay alsalso ao applpply. y. WitWithdrhdrawaawals ls havhave te theheeffeffecect ot of rf redueducincing tg the he deadeath th ffffffffbenbenefiefit,t, ca cash sh sursurrenrenderder va valuelue, a, and nd fifianyany li livinving bg beneenefifitsts..fifi
VarVariabiable le proproducducts ts andand th theireirundunderlerlyinying vg variariablableeinvinvestestmenment ot optiptionsons, a, and nd mutmutualual fu fundsnds, a, are re solsold bd by y proprospespectuctus os onlynly. Y. You ou shoshoulduldcarcarefuefullylly co consinsiderder th theeinvinvestestmenment ct compompanyany’s ’s invinvestestmenment ot objebjectictivesves, r, riskisks,s,chachargerges, s, andand ex expenpensesses be beforforeemakmakinging an an in invesvestmetmentntdecdecisiision.on. Th The pe prosrospecpectustusconcontaitains ns thithis as and nd othother er impimportortantant in inforformatmationion. P. Plealeaseserearead td the he proprospespectuctus cs carearefulfully ly befbeforeore in invesvestinting og or sr sendendinging monmoney.ey. Yo You mu may ay obtobtainain a a proprospespectuctus bs by cy contontactactinging yo yoururParPark Ak Avenvenue ue SecSecuriuritietiessregregististereered rd reprepreseesentantativtive oe or br by y calcallinling 1g 1-80-800-20-221-21-3253253.3.
TheThe Li Livinving Bg Balaalancence Sh Sheeteet®®disdisplaplays ys thethe fi finanancincial al holholdindingsgsfifiideidentintififi ed ed by by th the ce clielient nt basbasededfifiupoupon in infonformarmatiotion an and nd valvaluatuationionssproprovidvided ed dirdirectectly ly by by thethe cl clienient ot orrby by eleelectrctronionic fc feedeeds fs fromrom th the e cliclientent’s ’s fifi na nancincial al insinstittitutiutionsons..fifiValValuatuationions ps provrovideided bd by ey eleclectrotronicnic feefeeds ds reflrefl ec ect tt the he mosmost ct currurrententflfl
infinformormatiation on proprovidvided ed by by thethefifi na nancincial al insinstittitutiution on as as of of thethe da date te fifiandand ti time me notnoted,ed, bu but ct can an reflreflecect t flflvalvaluatuationions fs fromrom an an ea earlirlier er datdateeandand ti time.me.
TheThe Li Livinving Bg Balaalancence Sh Sheeteet® a® andndTheThe Li Livinving Bg Balaalancence Sh Sheeteet® l® logoogoareare re regisgistertered ed serservicvice me markarks os of f TheThe Gu Guardardianian Li Life fe InsInsuraurancence ComCompanpany oy of Af Amermericaica (G (Guaruardiadian),n), NewNew Yo York,rk, NY NY. T. The he gragraphiphics cs andand textext ut usedsed he hereirein an are re thethe ex excluclusivsive e proproperperty ty of of GuaGuardirdian an andand proprotectectedted un underder U. U.S. S. andandIntInternernatiationaonal cl copyopyrigright ht lawlaws. s.
©©CopCopyriyrightght 20 2005-05-2012012, 2, TheThe GuaGuardirdian an LifLife Ie InsunsuranranceceComCompanpany oy of Af Amermericaica
SecSecuriuritieties ps prodroductucts as and nd serservicvicesesareare off off er ered ed thrthrougough Ph Parkark Av Avenuenue e ffffffffSecSecuriuritieties Ls LLC LC (PA(PAS) S) andandGuaGuardirdian an InvInvestestor or SerServicvices es LLCLLC (GI(GIS),S), 7 7 HanHanoveover Sr Squaquare,re, Ne New w YorYork, k, NY NY 10010004.04. GI GIS iS is as a wh whollolly y ownowned ed subsubsidsidiariary oy of Tf TheheGuaGuardirdian an LifLife Ie InsunsuranranceceComCompanpany oy of Af Amermericaica, N, New ew YorYork,k,
IIMMPPOORRTTAANNTT IINNFFOORRMMAATTIIOONN
DELDELIVEIVERINRING OG ON LN LONGONG-TE-TERM RM PROPROMISMISES ES | G| GUARUARDIADIAN 2N 2011011 1919
NY.NY. PA PAS iS is as a wh whollolly oy ownewned d subsubsidsidiariary oy of Gf GIACIAC, N, New ew YorYork, k, NY.NY.
GISGIS an and Pd PAS AS areare me membembers rs of of FINFINRA,RA, SI SIPC.PC.
PasPast pt perferformormancance de doesoes no not t guaguaranranteetee fu futurture re resuesultslts..InvInvestestmenments ts offoff er ered ed thrthrougoughhffffffffGIAGIAC, C, GISGIS, a, and nd PASPAS ar are ne nototdepdeposiosits ts or or oblobligaigatiotions ns of,of, or orguaguaranranteeteed od or er endondorsersed bd by, y, anyanybanbank ok or dr depoepositsitoryory in instistituttutionion,,nornor ar are te theyhey in insursured ed by by thethe FedFederaeral Dl Depoepositsit In InsursurancanceeCorCorporporatiation,on, th the Fe Fedeederalral Re Reserserve ve BoaBoard,rd, th the Ne Natiationaonal Cl Credredit it UniUnion on AssAssociociatiation,on, or or an any oy othether ar agengency.cy. MutMutualual fu fundsnds an and vd variariablable e proproducducts ts invinvolvolve re riskisk, i, inclncludiudingngpospossibsible le losloss os of tf the he priprincincipalpal amoamountunt in invesvestedted. I. Invenvestmstmententretreturnurn an and pd prinrincipcipal al valvalue ue maymay fl ufl uctuctuateate so so th that at thethe in invesvestmetment,nt, whewhen rn redeedeemeemed, d, maymay be be wo worthrthmormore oe or lr lessess th than an thethe am amounounttorioriginginallally iy invenvestested.d.
DisDisabiabilitlity iy inconcome me insinsuraurancence is isundunderwerwritrittenten an and id issussued ed by by BerBerkshkshireire Li Life fe InsInsuraurancence ComCompanpany oy of Af Amermericaica, P, Pittittsfisfieleld,d,fifiMA,MA, a a whowhollylly ow ownedned st stockock subsubsidsidiariary oy of Tf The he GuaGuardirdian an LifLifeeInsInsuraurancence Co Compampany ny of of AmeAmericrica, a, NewNew Yo York,rk, NY NY. P. Prodroductucts ns not ot avaavailailableble in in al all sl stattates.es. Pr Produoductctproprovisvisionions as and nd feafeaturtures es maymay va vary ry frofrom sm stattate te to so stattate.e.
TheThe ra ratintings gs of of TheThe Gu Guardardianian Li Life fe InsInsuraurancence Co Compampany ny of of AmeAmericrica a quoquotedted in in th this is repreportort ar are ae as os of f MarMarch ch 1, 1, 2012012 a2 and nd areare su subjebject ct to to chachangenge. T. The he ratratingings es earnarned ed by by GuaGuardirdian an do do notnot ap applyply to to th the e invinvestestmenments ts ississuedued by by GI GIAC AC ororoffoff er ered ed thrthrougough Gh GIS IS andand PA PAS.S.ffffffff
DivDivideidendsnds ar are ne not ot guaguaranranteeteed. d. TheThey ay are re decdeclarlared ed annannualually ly bybyGuaGuardirdian’an’s Bs Boaroard od of Df Direirectoctors.rs.
FinFinancancialial in inforformatmationion co concencernirningngTheThe Gu Guardardianian Li Life fe InsInsuraurancence ComCompanpany oy of Af Amermericaica as as of of DecDecembember er 31,31, 20 2011 11 on on a sa stattatutoutory ry basbasis:is: Ad Admitmittedted As Assetsets =s = $3 $35.15.1
BilBilliolion; n; LiaLiabilbilitiities es = $= $30.30.5 B5 Billillionion(in(inclucludinding $g $26.26.8 B8 Billillionion of of ResReserverves)es); a; and nd SurSurpluplus =s =$4.$4.6 B6 Billillionion..
FinFinancancialial in inforformatmationion co concencernirningngTheThe Gu Guardardianian In Insursurancance &e & AnnAnnuituity Cy Compompanyany, I, Inc.nc. as as of of DecDecembember er 31,31, 20 2011 11 on on a sa stattatutoutory ry basbasis:is: Ad Admitmittedted As Assetsets =s = $1 $10.30.3 BilBilliolion; n; LiaLiabilbilitiities es = $= $10.10.1 B1 Billillionion (in(inclucludinding $g $1.81.8 Bi Billillion on of of ResReserverves)es); a; and nd CapCapitaital al andndSurSurpluplus =s = $0 $0.2 .2 BilBilliolion.n.
FinFinancancialial in inforformatmationion co concencernirningngBerBerkshkshireire Li Life fe InsInsuraurancence ComCompanpany oy of Af Amermericaica as as of of DecDecembember er 31,31, 20 2011 11 on on a sa stattatutoutory ry basbasis:is: Ad Admitmittedted As Assetsets =s = $3 $3.0 .0 BilBilliolion; n; LiaLiabilbilitiities es = $= $2.52.5 Bi Billillionon(in(inclucludinding $g $2.32.3 Bi Billillion on of of ResReserverves)es); a; and nd CapCapitaital al andndSurSurpluplus =s = $0 $0.5 .5 BilBilliolion.n.
DELIVERING ON LONG-TERM PROMISES | GUARDIAN 201120
GENERAL AGENCIESALABAMABirminghamSoutheastern Planning Corporation, LLC(205) 533-9452Andy MeehanRobert E. Mathis, CLUJohn E. Hill, JD, LLMAlfred P. Robertson, CLU, ChFC
ARIZONAPhoenixJohn Driscoll & Company, Inc.(602) 957-7155John M. Driscoll, CLU
CALIFORNIAClaremontPacifi c Advisors, Inc. (909) 399-1100Neil WillnerWalt Cardinet, CLUKelly Kidwell, CLU, ChFC, CFP, LUTCF
Diamond BarGuardian Life Insurance Company(909) 610-2500Lip Geap (Sony) Tan
Los AngelesGuardian Life Insurance Company(213) 624-2002Charles Bogue, CLU, ChFC
San DiegoGuardian Life Insurance Company(619) 684-6400Michael Geary
San DiegoPacifi c Advisors, Inc. (800) 345-6555Neil Willner Walt Cardinet, CLU Kelly Kidwell, CLU, ChFC, CFP,LUTCF
San FranciscoGuardian Life Insurance Company(415) 659-1200Amin H. Ladak
San JosePacifi c Advisors, Inc. (408) 487-9900Neil WillnerWalt Cardinet, CLUKelly Kidwell, CLU, ChFC, CFP, LUTCF
San RamonGuardian Life Insurance Company(925) 983-2900Kevin S. Park
COLORADOGreeleyGuardian Life Insurance Company(970) 534-3052Benjamin J. Sartin
Greenwood VillageV.W. Allabashi & Associates, LLC(303) 770-9020V.W. Allabashi, CLULyle Domenitz, LUTCF
CONNECTICUTFarmingtonMW Financial Group, Ltd.(860) 677-2600Robert N. Worgaftik, CLU, ChFC,CFP, CLTCRichard P. Gribinas, CFP, ChFC
FLORIDACoral GablesGuardian Life Insurance Company(305) 908-3838Anthony L. Rogers
EsteroGuardian Life Insurance Company(239) 676-3200Patrick F. Thuecks
Fort MyersAlliance Financial Group(239) 561-2900Douglas J. Gribin, CLU, ChFCWilliam J. Traum, CLU, ChFC
JacksonvilleNorth Florida Financial Corporation(904) 296-1944B. Lee Harrison, Jr., CLU, LUTCF, CLTC
MaitlandGuardian Life Insurance Company(407) 628-8222B. Lee Harrison, Jr., CLU,LUTCF, CLTCStewart Davis, Jr., CLU
MiamiNPC Financial, Inc.(305) 371-6333Jeffrey E. Newman, CLU, ChFC, ffffRHU
PensacolaNorth Florida Financial Corporation(850) 476-3491B. Lee Harrison, Jr., CLU, LUTCF, CLTC
TallahasseeNorth Florida Financial Corporation(850) 562-9075B. Lee Harrison, Jr., CLU, LUTCF, CLTC
COMPANYLISTINGS
DELDELIVEIVERINRING OG ON LN LONGONG-TE-TERM RM PROPROMISMISES ES | G| GUARUARDIADIAN 2N 2011011 2121
TamTampapaWesWestshtshoreore Fi Finannanciacial Gl Grouroupp(81(813) 3) 289289-36-363232B. B. LeeLee Ha Harrirrisonson, J, Jr.,r., CL CLU,U,LUTLUTCF,CF, CL CLTCTCSteStewarwart Dt Daviavis, s, Jr.Jr., C, CLU LU
TamTampapaGuaGuardirdian an LifLife Ie Insunsuranrance ce ComCompanpanyy(81(813) 3) 289289-85-850000PauPaul Bl Bullullaraara II IIII
GEGEORORGIGIAAAtlAtlantantaaAshAshforford Ad Advidvisorsors, s, IncInc..(77(770) 0) 390390-26-260000V. V. ThoThomasmas Pu Purcercell,ll, Jr Jr., ., CLUCLU, C, ChFChFC
AtlAtlantantaaPeaPeachtchtreeree Pl Plannanninging Co Corporporatrationion(40(404) 4) 260260-16-160000RobRobertert E. E. Ma Mathithis, s, CLUCLUJohJohn En E. H. Hillill, J, JD, D, LLMLLMAlfAlfredred P. P. Ro Roberbertsotson, n, CLUCLU, C, ChFChFC
JohJohns ns CreCreekekGuaGuardirdian an LifLife Ie Insunsuranrance ce ComCompanpanyy(67(678) 8) 225225-68-680000RanRandaldal C. C. Es Espeypey
HAHAWAWAIIIIHonHonoluolululuMidMid-Pa-Pacificifi c c ParPartnetners,rs, LL LLCCfifi(80(808) 8) 955955-64-640000GarGary Ky K. G. GragragsonsonDonDon Ha Haweswes
HonHonoluolululuWeaWealthlth St Stratrategyegy Pa Partnrtnersers, L, LLCLC(80(808) 8) 695695-21-210000NasNash Sh Suboubotictic
ILILLILINONOISISDeeDeerfirfielelddfifiGuaGuardirdian an LifLife Ie Insunsuranrance ce ComCompanpanyy(84(847) 7) 597597-24-240000MarMark Ck C. P. Pietietschsch
GleGlenvinviewewTheThe Hu Hunkenken An Agengency,cy, In Inc.c.(84(847) 7) 564564-01-012323H. H. ChrChris is HunHunkenken II IIIIScoScott tt B. B. HunHunkenken, L, LUTCUTCFF
ININDIDIANANAAIndIndianianapoapolislisHorHorizoizon Pn Planlanninning Gg Grouroup op of f MicMichiahiana,na, In Inc.c.(31(317) 7) 571571-23-236565KevKevin in L. L. BelBell, l, JD,JD, CL CLU, U, ChFChFCC
IOIOWAWACliCliveveFinFinancancialial Ar Archichitectects,ts, In Inc.c.(51(515) 5) 457457-12-127676KimKim A. A. We Weaveaver, r, CLUCLU, C, ChFChFC, C, CFPFP
KAKANSNSASASOveOverlarland nd ParParkkWooWoody dy FinFinancancialial Gr Groupoup, I, Inc.nc.(91(913) 3) 345345-10-103030RicRicharhard Wd W. W. Woodoody, y, CLUCLU,,ChFChFC, C, CFPCFP
KEKENTNTUCUCKYKYLouLouisvisvillilleeLifLifetietime me FinFinancancialial Gr GrowtowthhComCompanpany oy of Kf Kententuckucky, y, LLCLLC(50(502) 2) 327327-07-071111EarEarl Jl J. L. Luttuttnerner, C, CLULUSanSanforford Md M. A. Aderdersonson, J, JDD
LOLOUIUISISIANANAABatBaton on RouRougegeHRBHRBA, A, IncInc..(22(225) 5) 766766-97-970000DonDonaldald G. G. Sc Scullullyy
MetMetairairieieTheThe Pr Produoducercers Gs Grouroup, p, IncInc..(50(504) 4) 836836-29-292222RicRicharhard Hd H. V. Villillavaavaso,so, CL CLU, U, ChFChFCC
MAMARYRYLALANDNDBetBetheshesdadaGuaGuardirdian an LifLife Ie Insunsuranrance ce ComCompanpany y (30(301) 1) 907907-90-903030LloLloyd yd PolPolmatmateereer
RocRockvikvillelleFinFinancancialial Ba Balanlance ce GroGroup,up, LL LLCC(24(240) 0) 683683-97-970000SteStevenven Cr Crawfawfordord
SpaSparksrksEckEckelsels As Assocsociatiates,es, LL LLCC(41(410) 0) 828828-54-540000DenDennisnis Ec Eckelkels, s, CLUCLU, C, ChFChFC
MAMASSSSACACHUHUSESETTTTSSDanDanververssLivLivinging Le Legacgacy Fy Finainancincial al GroGroup,up, In Inc.c.(97(978) 8) 907907-60-600000GarGary Dy DeSteStefaefano,no, LU LUTCFTCF, C, CLTCLTC
FraFraminminghaghammRobRobertert Fi Fine ne & R& Randandy Sy S. F. Fineine InsInsuraurancence, L, LLCLC(50(508) 8) 820820-99-993939RobRobertert Fi FineneRanRandy dy S. S. FinFine, e, LUTLUTCFCF
NeeNeedhadhammTheThe Bu Bulfilfi nc nch Gh Grouroup Ip Insunsuranrance ce fifiAgeAgencyncy, L, LLCLC(78(781) 1) 449449-44-440202SetSeth Mh Medaedalielie, C, CLU,LU, Ch ChFCFC
WelWelleslesleyleyWelWelleslesleyley Fi Finannanciacial Gl Grouroup &p & InsInsuraurancence Ag Agencencyy(78(781) 1) 237237-17-172020RicRicharhard Pd Poitoitrasras, C, CLU,LU, Ch ChFC,FC, CF CFPP
MIMICHCHIGIGANANBinBinghagham Fm FarmarmssLucLucidoido-Mo-Morrirris &s & As Assocsociatiates,es, LL LLCC(24(248) 8) 647647-07-078080JosJosepheph A. A. Lu LucidcidooMicMichaehael Gl G. M. Morrorris,is, CL CLUU
DELDELIVEIVERINRING OG ON LN LONGONG-TE-TERM RM PROPROMISMISES ES | G| GUARUARDIADIAN 2N 20110112222
MIMINNNNESESOTOTAABloBloomiomingtngtononGuaGuardirdian an LifLife Ie Insunsuranrance ce ComCompanpanyy(95(952) 2) 446446-33-330000DerDerricrick Mk M. G. Girairard,rd, CF CFPP
MinMinneaneapolpolisisFosFosterter Kl Klimaima & & ComCompanpany, y, LLCLLC(61(612) 2) 746746-22-220000DouDouglaglas Ks K. F. Flinlink, k, CLUCLU, C, ChFChFCJohJohn Mn McGucGurrarrann
MIMISSSSISISSISIPPPPIIJacJacksoksonnAllAllen en FinFinancancialial Gr Groupoup, P, PAA(60(601) 1) 956956-66-665656DavDavid id B. B. AllAllen,en, CL CLU, U, ChFChFCC
MIMISSSSOUOURIRISt.St. Lo LouisuisGuaGuardirdian an LifLife Ie Insunsuranrance ce ComCompanpanyy(31(314) 4) 800800-11-115555DavDavid id G. G. BoyBoykinkin
MOMONTNTANANAAMisMissousoulalaNorNorthethern rn RocRockiekies Fs FinainancincialalGroGroup,up, In Inc.c.(40(406) 6) 728728-66-669999AndAndrewrew P. P. Li Link,nk, CL CLU, U, ChFChFCC
NENEBRBRASASKAKAOmaOmahahaGuaGuardirdian an LifLife Ie Insunsuranrance ce ComCompanpanyy(40(402) 2) 504504-64-644444RicRicharhard Wd W. W. Woodoody, y, CLUCLU, C, ChFChFC, C, CFPFP
NENEVAVADADALasLas Ve VegasgasV.WV.W. A. Allallabasbashi hi & A& Assossociaciatestes, L, LLCLC(70(702) 2) 735735-43-435555V.WV.W. A. Allallabasbashi,hi, CL CLUULylLyle De Domeomenitnitz, z, LUTLUTCFCF
NENEW W HAHAMPMPSHSHIRIREEBedBedforforddBalBaldwidwin &n & Cl Clarkarkee(60(603) 3) 622622-08-089292ChaCharlerles Hs H. B. Baldaldwinwin, C, CLU,LU, Ch ChFCFC
NasNashuahuaGuaGuardirdian an LifLife Ie Insunsuranrance ce ComCompanpanyy(60(603) 3) 324324-24-240000JamJames es M. M. ArcArchibhibaldald
NENEW W JEJERSRSEYEYCraCranfonfordrdFerFerrarrara Fa Finainancincial al GroGroup,up, LL LLCC(90(908) 8) 709709-00-002020SteStevenven A. A. Fe Ferrarrara,ra, CL CLUUDavDavid id J. J. ParParselsels, s, CLUCLU, C, ChFChFC
FaiFairfirfi el elddfifiIntInternernatiationaonal Pl Planlanninning Ag Allilliancance, e, LLCLLC(97(973) 3) 244244-44-442020DavDavid id R. R. AltAlter,er, CL CLUUGerGeraldald J. J. Cl Cleriericuzcuzio,io, CL CLU, U, ChFChFCC
ForFort Lt LeeeeGuaGuardirdian an LifLife Ie Insunsuranrance ce ComCompanpanyy(20(201) 1) 482482-82-828282MicMichaehael Rl Rheehee
ManManasqasquanuanC&AC&A Fi Finannanciacial Gl Grouroup, p, LLCLLC(73(732) 2) 528528-48-480000FraFrank nk J. J. ConCongilgiloseose, C, CLU,LU, Ch ChFC,FC, CFPCFP, M, MSFSSFS
ParParamuamussCerCertifitifi ed ed Fi Finannanciacial Sl Serverviceices, s, LLCLLCfifi(20(201) 1) 843843-77-770000ThoThomasmas A. A. Ci CiardardellellaaMicMichaehael Cl C. S. Saviavino,no, CL CLU, U, CFPCFP
PriPrincencetontonPetPetronrone Ae Assossociaciatestes, I, Inc.nc.(60(609) 9) 452452-92-929292ThoThomasmas M. M. Pe Petrotrone,ne, CL CLUU
RosRoselaelandndFinFinancancialial Be Benefinefi ts ts Re Reseasearchrch Gr Groupoup fifi(97(973) 3) 226226-11-119999BarBarry ry GimGimelselstobtob
ShrShrewsewsburburyyIntInternernatiationaonal Pl Planlanninning Ag Allilliancance, e, LLCLLC(73(732) 2) 530530-47-474747DavDavid id R. R. AltAlter,er, CL CLUUGerGeraldald J. J. Cl Cleriericuzcuzio,io, CL CLU, U, ChFChFCC
NENEW W YOYORKRKBroBrookloklynynBroBrookloklyn yn FinFinancancialial Gr Groupoup, L, Ltd.td.(71(718) 8) 302302-86-860000AbrAbrahaaham Sm S. E. EkstksteineinShrShrageage Po Posensen
BuffBuff al alo o ffffffffAllAllianiance ce AdvAdvisoisory ry GroGroup,up, In Inc.c.(71(716) 6) 817817-71-7109 09 RobRobertert J. J. Fa Fashashano,no, CL CLU, U, ChFChFC, C, MSFMSFSS
NewNew Yo York rk CitCityyNatNationional al FinFinancancialial Ne Netwotwork,rk, LL LLCC(21(212) 2) 764764-62-626262AntAnthonhony Ty T. M. Mazzazzei,ei, Sr Sr., ., CLUCLU, , ChFChFC, C, CLTCLTC, C, MSMMSM
NewNew Yo York rk CitCityyStrStrateategiegies fs for or WeaWealthlth(21(212) 2) 701701-79-790000RonRonaldald S. S. Ro Rosbrsbruchuch, C, CLU,LU, Ch ChFCFCJerJerry ry HarHarniknik, C, CLULUJosJosh Bh Beckecker,er, LU LUTCFTCF
NewNew Yo York rk CitCityyWeaWealthlth Ad Advisvisoryory Gr Groupoup(21(212) 2) 541541-88-880000HowHowardard J. J. El Eliasias, L, LUTCUTCFF
RegRego Po ParkarkN.MN.M.P..P. Pl Plannanninging Co Compampany ny IncInc..(71(718) 8) 268268-92-925555NatNathanhan M. M. Pe Perlmrlmuttutter,er, CL CLU, U, ChFChFCC
RyeRye Br BrookookStrStrateategiegies fs for or WeaWealthlth(91(914) 4) 288288-88-880000RonRonaldald S. S. Ro Rosbrsbruchuch, C, CLU,LU, Ch ChFCFCJerJerry ry HarHarniknik, C, CLULUJosJosh Bh Beckecker,er, LU LUTCFTCF
DELIVERING ON LONG-TERM PROMISES | GUARDIAN 2011 23
TarrytownGuardian Life Insurance Company(914) 460-1200Stephen DiGirolamo
WestburyNRL Wealth Creation Strategies, LLC(516) 334-4900Joseph V. Limongelli, LUTCFJohn A. Limongelli
WoodburyGuardian Life Insurance Company(516) 677-6200Adam S. Kaufman
WoodburyStrategies for Wealth(516) 682-2500Ronald S. Rosbruch, CLU, ChFCJerry Harnik, CLUJosh Becker, LUTCF
NORTH CAROLINACharlotteCP Planning Group, Inc.(704) 552-8507C. Richard Dobson, CLURobert E. Mathis, CLU
GreensboroDobson & Associates, Inc.(336) 230-0922C. Richard Dobson, CLURobert E. Mathis, CLU
RaleighConsolidated Planning, Inc.(919) 782-2900C. Richard Dobson, CLURobert E. Mathis, CLU
RaleighGuardian Life Insurance Company(919) 239-7929Daniel J. Shanahan
NORTH DAKOTAFargoFoster Klima & Company, LLC(701) 293-6379Douglas K. Flink, CLU, ChFCJohn McGurran
OHIOBeachwoodLifetime Financial Growth of Northern Ohio, LLC(216) 360-7400Earl J. Luttner, CLUSanford M. Aderson, JD
CantonSirak-Brockett Agency, Ltd.(330) 493-3211Gary Brockett, CLU, CFP
CincinnatiGuardian Life Insurance Company(513) 878-6920William Morgan Watson
CincinnatiLifetime Financial GrowthCompany of Ohio, LLC(513) 579-1114Earl J. Luttner, CLUSanford M. Aderson, JD
CincinnatiWilson Advisory Group, LLC(513) 891-6600Earl J. Luttner, CLUSanford M. Aderson, JD
ColumbusThe Columbus Financial Group(614) 785-5100Paul J. Vineis, CLU, CFP
DublinGuardian Life Insurance Company(614) 718-5343Paul T. Swift
OKLAHOMAOklahoma CityRedbud Financial Group, LLC(405) 767-1900Derrick Morton, CLU, ChFC
OREGONPortlandGuardian Life Insurance Company (503) 207-4550Jeffrey Pawlowski ffff
PortlandWealth Strategies Northwest, LLC(503) 221-1226Larry Plumb, CLU, CFPThaddeus C. Sweet, RHU
PENNSYLVANIABlue BellIndependence Planning Group(267) 468-0822Daniel J. Linehan, CLU, ChFC
LancasterFirst Financial Group(717) 393-4465Dennis Eckels, CLU, ChFC
PittsburghLifetime Financial Growth, LLC(412) 391-6700Earl J. Luttner, CLUSanford M. Aderson, JD
PlainsFirst Financial Group(570) 829-0717Dennis Eckels, CLU, ChFC
WayneGuardian Life Insurance Company(610) 293-8300Steven D. Earhart, CLU, ChFC, CFP, MSFS
DELDELIVEIVERINRING OG ON LN LONGONG-TE-TERM RM PROPROMISMISES ES | G| GUARUARDIADIAN 2N 20110112424
SOSOUTUTH H CACAROROLILINANAGreGreenvenvillilleeGuaGuardirdian an LifLife Ie Insunsuranrance ce ComCompanpanyy(86(864) 4) 416416-54-540000RobRobertert To Todd dd AchAchberbergerger
TETENNNNESESSESEEEBreBrentwntwoodoodPeaPeachtchtreeree Pl Plannanninging of of TenTennesnesseesee, L, LLCLC(61(615) 5) 376376-83-830000RobRobertert E. E. Ma Mathithis, s, CLUCLUJohJohn En E. H. Hillill, J, JD, D, LLMLLMAlfAlfredred P. P. Ro Roberbertsotson, n, CLUCLU, C, ChFChFCDarDarrelrell Dl Daweawes, s, CLUCLU, C, ChFChFC
MemMemphiphissChaChartwrtwellell Fi Finannanciacial Gl Grouroupp(90(901) 1) 692692-51-510000GeoGeorgerge H. H. Mo Mooreore
TETEXAXASSAusAustintinGuaGuardirdian an LifLife Ie Insunsuranrance ce ComCompanpanyy(51(512) 2) 651651-20-200909ScoScot Et E. D. Daviavis s
AusAustintinLilLiljenjenwalwall Dl Dallallas-as-SouSouth th TexTexasasAgeAgencyncy(51(512) 2) 343343-79-794747EriErik Lk Liljiljenwenwallall
DalDallaslasLilLiljenjenwalwall Dl Dallallas-as-SouSouth th TexTexas as AgeAgencyncy(21(214) 4) 346346-09-098585EriErik Lk Liljiljenwenwallall
El El PasPasooComCompaspass Bs Beneenefifitsts, I, Inc.nc.fifi(91(915) 5) 533533-99-990101JohJohn Mn M. D. Drisriscolcoll, l, CLUCLU
ForFort Wt WortorthhGuaGuardirdian an LifLife Ie Insunsuranrance ce ComCompanpanyy(68(682) 2) 233233-77-777070ShaShawn wn M. M. ArrArringingtonton
HouHoustostonnGuaGuardirdian an LifLife Ie Insunsuranrance ce ComCompanpanyy(83(832) 2) 308308-72-720000PatPatricrick Dk Dickicksonson
HouHoustostonnWeaWealthlth De Desigsign Gn Grouroup, p, LLCLLC(71(713) 3) 963963-87-874040RicRicharhard Ld L. R. Ray,ay, MS MSFSFS
UTUTAHAHMurMurrayrayTheThe Mc McParPartlatland nd GroGroupup(80(801) 1) 365365-04-048080TerTerry ry McPMcPartartlanlandd
VIVIRGRGININIAIARicRichmohmondndGuaGuardirdian an LifLife Ie Insunsuranrance ce ComCompanpanyy(80(804) 4) 482482-69-699090DevDevon on CurCuryy
VieViennannaGuaGuardirdian an LifLife Ie Insunsuranrance ce ComCompanpanyy(57(571) 1) 419419-55-550000HanHandandan G. G. Pa Pasqusquierier
VirVirginginia ia BeaBeachchGuaGuardirdian an LifLife Ie Insunsuranrance ce ComCompanpanyy(75(757) 7) 498498-57-570000WilWillialiam Em E. (. (JoeJoe) C) Counountsts
WAWASHSHININGTGTONONLynLynnwonwoododGuaGuardirdian an LifLife Ie Insunsuranrance ce ComCompanpanyy(42(425) 5) 771771-90-901010PauPaul Ll L. A. Adamdamss
WEWESTST V VIRIRGIGININIAAMorMorgangantowtownnLifLifetietime me FinFinancancialial Gr Growtowth/h/LutLuttnetner Fr Finainancincial al GroGroupup(30(304) 4) 292292-20-205050EarEarl Jl J. L. Luttuttnerner, C, CLULUSanSanforford Md M. A. Aderdersonson, J, JDD
WIWISCSCONONSISINNPewPewaukaukeeeeGreGreat at LakLakes es InsInsuraurancence ConConsulsultantants,ts, In Inc.c.(26(262) 2) 746746-92-927070DanDanieliel T. T. Me MelkalkaMarMark Sk Smitmithh
RREEGGIIOONNAALLGGRROOUUPP OOFFFFIICCEESS
ALALABABAMAMAABirBirminminghaghamm2102100 S0 SoutouthBrhBridgidge Pe Parkarkwayway, S, Suituite 3e 38585BirBirminminghagham, m, AL AL 3523520909ScoScott tt ThoThompsmpson,on, Re RegiogionalnalDirDirectectoror(80(800) 0) 879879-69-693434
ARARIZIZONONAAPhoPhoenienixxSmaSmall ll GroGroup up SalSaleses60 60 E. E. RioRio Sa Saladlado Po Parkarkwayway, S, Suituite 1e 10404TemTempe,pe, AZ AZ 85 85284284MikMike Te Taylaylor,or, Re Regiogionalnal Di Direcrectortor(86(866) 6) 747747-45-454242
CACALILIFOFORNRNIAIALosLos An AngelgelesesTheThe Ed Edge,ge, Bl Bldg.dg. 3, 3,801801 Pa Parkvrkviewiew Dr Driveive No Northrth, S, Suituite 1e 10000El El SegSegundundo, o, CA CA 9029024545ArtArthurhur St Sternern, R, Regiegionaonal Ml Manaanagerger(80(800) 0) 225225-33-339999
SanSan Fr Francancisciscoo555555 Mo Montgntgomeomery ry St.St., S, Suituite 1e 1600600SanSan Fr Francanciscisco, o, CA CA 9419411111RicRick Pk Portorterfierfi el eld, d, fifiDirDirectector,or, Ma Markerketinting &g & Sa Salesles(80(800) 0) 832832-95-955555
SouSouthethern rn CalCalifoifornirniaa4684685 M5 MacAacArthrthur ur CouCourt,rt, Su Suiteite 10 1000NewNewporport Bt Beaceach, h, CA CA 9269266060JosJosepheph St Stefaefano,no,DirDirectector,or, Ma Markerketinting &g & Sa Salesles(80(800) 0) 662662-64-646464
DELIVERING ON LONG-TERM PROMISES | GUARDIAN 2011 25
COLORADODenver116 Inverness Dr. East, Suite 285Englewood, CO 80112Kendall Fritsch,Regional Vice President,Western Sales(602) 567-2602
CONNECTICUTHartford29 South Main St., Suite 301West Hartford, CT 06107Stephen Murphy, RegionalDirector(800) 933-3304
DISTRICT OF COLUMBIAWashington, D.C.8161 Maple Lawn Blvd., Suite 100Fulton, MD 20759John Feeney,Director, Marketing & Sales(800) 945-6584
FLORIDAFort LauderdaleLakeside @ Lyons, 6820 LyonsTechnology Circle, Suite 150Coconut Creek, FL 33073Barbara Roberts, Regional Manager(800) 282-6908
Tampa1511 N. West Shore Blvd., Suite 600Tampa, FL 33607Todd Stahl, Regional Director(800) 282-6908
GEORGIAAtlanta2400 Lakeview Parkway, Suite 500Alpharetta, GA 30004Andrew Baylor,Director, Marketing & Sales(800) 677-0296
ILLINOISChicago550 W. Jackson Blvd., 8th FloorChicago, IL 60661Stephen Ring,Director, Marketing & Sales(800) 933-3136
INDIANAIndianapolis201 W. 103rd St., Suite 390Indianapolis, IN 46290Eric Stickford, Regional Manager(800) 533-3813
MASSACHUSETTSBostonOne Liberty Square, 3rd FloorBoston, MA 02109Daniel Shea, Regional Director(800) 541-4374
Bridgewater Small Group SalesOne Lakeshore Drive, 2nd FloorBridgewater, MA 02324David Poirier, Regional Director(877) 652-4151
MICHIGANDetroit555 South Old Woodward, Suite 501Birmingham, MI 48009Thomas Nowland, RegionalDirector(800) 422-3902
MISSOURISt. Louis8235 Forsyth Blvd., Suite 650St. Louis, MO 63105Terry Walsh,Regional Vice President, Central Sales(317) 815-8172
NEW JERSEYNew Jersey695 Rt. 46 West, Suite 402Fairfi eld, NJ 07004fiRichard Picardo, RegionalManager(800) 967-9277
NEW YORKLong IslandPark Atrium, 865 Merrick Ave.Suite 300Westbury, NY 11590Hayley Doran, Regional Manager(800) 553-0217
New York60 Broad St., Suite 3200New York, NY 10004Jeff Furbish,ffDirector, Marketing & Sales(800) 369-8223
Syracuse5784 Widewaters ParkwayDeWitt, NY 13214Matthew McAnaney, Regional Director(800) 545-0278
NORTH CAROLINACharlotte3025 Springbank Lane, Suite 240Charlotte, NC 28226Brad Schumacher, Regional Director(800) 846-9256
OHIOCincinnati9825 Kenwood Road, Suite 200Cincinnati, OH 45242Steve Berger,Director, Marketing & Sales(800) 543-1163
DELDELIVEIVERINRING OG ON LN LONGONG-TE-TERM RM PROPROMISMISES ES | G| GUARUARDIADIAN 2N 20110112626
CleClevelvelandand6486480 R0 Rockocksidside We Woodoods Bs Blvdlvd. S. Soutouth,h,SuiSuite te 220220IndIndepeependendencence, O, OH 4H 441341311TreTreg Bg Baldaldinging, R, Regiegionaonal Dl Direirectoctorr(80(800) 0) 222222-04-044747
PEPENNNNSYSYLVLVANANIAIABetBethlehlehemhemSmaSmall ll GroGroup up SalSaleses1521525 V5 Vallalley ey CenCenterter Pa Parkwrkway,ay, Su Suiteite 20 2000BetBethlehlehemhem, P, PA 1A 180180177CarCary Sy Salkalkin,in, Re Regiogionalnal Di Direcrectortor(80(800) 0) 356356-58-580808
PhiPhiladladelpelphiahiaOneOne Co Commemmercerce Sq Squaruare, e, SuiSuite te 192192002002005 M5 Markarket et StrStreeteetPhiPhiladladelpelphiahia, P, PA 1A 191091033GeoGeoffffrerey Ry Rosiosina,na, Re Regiogionalnal Di Direcrectortorffffffff(80(800) 0) 753753-82-820808
SOSOUTUTH H CACAROROLILINANAChaCharlerlestostonn880880 Jo Johnnhnnie ie DobDobbs bs BlvBlvd.,d., Su Suiteite 2 2MouMount nt PlePleasaasant,nt, SC SC 29 29464464ZacZacharhary Hy Hatcatch, h, RegRegionional al ManManageagerr(84(843) 3) 856856-42-426666
TETENNNNESESSESEEENasNashvihvillelle720720 Co Cool ol SprSpringings Bs Blvdlvd., ., SuiSuite te 660660FraFranklnklin,in, TN TN 37 37067067DanDanieliel Ju Justistice,ce, Re Regiogionalnal Di Direcrectortor(80(800) 0) 937937-93-934545
TETEXAXASSDalDallaslasWelWellinlingtogton Cn Cententer,er,14614643 43 DalDallaslas Pa Parkwrkway,ay, Su Suiteite 10 1000DalDallaslas, T, TX 7X 752552544DarDarceycey Ne Newsuwsum,m,DirDirectector,or, Ma Markerketinting &g & Sa Salesles(80(800) 0) 443443-03-033030
HouHoustostonn10310333 33 RicRichmohmond,nd, Su Suiteite 93 9300HouHoustoston, n, TX TX 7707704242ChrChris is GalGallaglagherher, R, Regiegionaonal Ml Manaanagerger(80(800) 0) 289289-90-909696
DDIISSTTRRIICCTTGGRROOUUPP OOFFFFIICCEESS
ARARIZIZONONAAPhoPhoenienixx2392390 C0 Cameamelbalback ck Rd.Rd., S, Suituite 2e 21515PhoPhoenienix, x, AZ AZ 8508501616JosJosepheph St Stefaefano,no,DirDirectector,or, Ma Markerketinting &g & Sa Salesles(80(800) 0) 227227-84-845757
ARARKAKANSNSASASLitLittletle Ro Rockck8208201 C1 Cantantrelrell Rl Roadoad, S, Suituite 3e 33535LitLittletle Ro Rock,ck, AR AR 72 72227227BraBrad Dd Daviavis, s, SalSales es RepRepresresententatiativeve(80(800) 0) 289289-92-920808
CACALILIFOFORNRNIAIAFreFresnosnoExeExecutcutiveive Su Suiteites as at Rt Riveiver Br Bluffluff8058050 N0 N. P. Palmalm Av Ave.,e., Su Suiteite 30 3000FreFresnosno, C, CA 9A 937137111BraBrady dy SpeSpencencer, r, SalSales es RepRepresresententatiativeve(55(559) 9) 389389-58-585858
SacSacramramententoo11311341 41 GolGold Ed Exprxpressess DriDrive,ve, SuSuiteite 12 1200GolGold Rd Riveiver, r, CA CA 9569567070RicRick Pk Portorterfierfi el eld, d, fifiDirDirectector,or, Ma Markerketinting &g & Sa Salesles(80(800) 0) 832832-95-955555
SanSan Di DiegoegoHazHazardard Ce Cententer Or Offiffi c ce Te Toweower,r,ffiffiSuiSuite te 880880, 7, 7676676 Ha Hazarzard Cd Cententer er Dr.Dr.SanSan Di Diegoego, C, CA 9A 921021088JosJosepheph St Stefaefano,no,DirDirectector,or, Ma Markerketinting &g & Sa Salesles(80(800) 0) 662662-64-646464
KAKANSNSASASKanKansassas Ci CitytyCorCorporporateate Wo Woodsods 11 11, , 10810800 00 FarFarleyley St Strereet,et, Su Suitite 2e 22020OveOverlarland nd ParPark, k, KS KS 6626621010TerTerry ry WalWalsh,sh,RegRegionional al VicVice Pe Presresideident,nt, CenCentratral Sl Salealess(31(317) 7) 815815-81-817272
LOLOUIUISISIANANAANewNew Or Orlealeansns3903900 N0 N. C. Causausewaeway By Blvdlvd, S, Suituite 8e 83030MetMetairairie,ie, LA LA 70 70002002ScoScott tt ThoThompsmpson,on, Re RegiogionalnalDirDirectectoror(80(800) 0) 879879-69-693434
MIMICHCHIGIGANANGraGrand nd RapRapidsidsCamCampaupau Sq Squaruare Pe Plazlazaa99 99 MonMonroeroe Av Ave. e. N.WN.W., ., SuiSuite te 502502GraGrand nd RapRapidsids, M, MI 4I 495095033JohJohn Dn Dietietricrich, h, SalSalesesRepRepresresententatiativeve(80(800) 0) 842842-69-696565
MIMINNNNESESOTOTAAMinMinneaneapolpolisisCenCententennianial Ll Lakeakes Is III7607601 F1 Franrance ce AveAvenuenue So Southuth, S, Suituite 2e 27070EdiEdina,na, MN MN 55 55435435TerTerry ry WalWalsh,sh,RegRegionional al VicVice Pe Presresideident,nt, CenCentratral Sl Salealess(31(317) 7) 815815-81-817272
MIMISSSSISISSISIPPPPIIJacJacksoksonn129129 Ex Execuecutivtive De DrivriveeMadMadisoison, n, MS MS 3913911010ScoScott tt ThoThompsmpson,on, Re RegiogionalnalDirDirectectoror(80(800) 0) 879879-69-693434
DELDELIVEIVERINRING OG ON LN LONGONG-TE-TERM RM PROPROMISMISES ES | G| GUARUARDIADIAN 2N 2011011 2727
NENEBRBRASASKAKAOmaOmahahaEagEagle le RunRun II II, 1, 13213215 5 BirBirch ch DrDriveive,,SuiSuite te 201201OmaOmaha,ha, NE NE 68 68154154TerTerry ry WalWalsh,sh,RegRegionional al VicVice Pe Presresideident,nt, CenCentratral Sl Salealess(31(317) 7) 815815-81-817272
NENEW W YOYORKRKAlbAlbanyany19 19 WesWest Bt Britritishish Am Ameriericancan Bl Blvd.vd.,,1st1st Fl FlooroorLatLathamham, N, NY 1Y 121121100ThoThomasmas He Healyaly, S, Saleales s RepRepresresententatiativeve(80(800) 0) 375375-82-823636
BuffBuffalalooffffffffUniUniverversitsity Cy Corporporaorate te CenCentretre,,100100 Co Corporporatrate Pe Parkarkwayway, S, Suituite 3e 30000AmhAmherserst, t, NY NY 1421422626ChaCharlerles Ls Lytlytle Ie II, I, SalSales es RepRepresresententatiativeve(80(800) 0) 628628-03-031818
RocRocheshesterter450450 Wi Willollowbrwbrookook Offi Offi c ce Pe ParkarkffiffiFaiFairporport,rt, NY NY 14 14450450PerPerry ry SarSaraceaceno,no, Sa Salesles RepRepresresententatiativeve(80(800) 0) 822822-91-913838
RyeRye118118 N. N. Be Bedfodford rd Rd.Rd., S, Suituite 1e 10606MouMount nt KisKisco,co, NY NY 10 10549549CliCliftofton Hn Hipkipkinsins, S, SalealessRepRepresresententatiativeve(80(800) 0) 369369-85-852626
NONORTRTH H CACAROROLILINANAGreGreensensborboroo800800 Gr Greeneen Va Vallelley Ry Roadoad, S, Suituite 2e 20202GreGreensensborboro, o, NC NC 2742740808SteStephephen Ln LeGreGroneone, S, Saleales s RepRepresresententatiativeve(80(800) 0) 846846-92-925656
OHOHIOIOColColumbumbususPolPolariaris Cs Cententerer8808800 L0 Lyrayra Dr Driveive, S, Suituite 6e 69090ColColumbumbus,us, OH OH 43 43240240SteSteve ve BerBergerger,,DirDirectector,or, Ma Markerketinting &g & Sa Salesles(80(800) 0) 543543-11-116363
OKOKLALAHOHOMAMATulTulsasaRicRichmohmond nd PlaPlazaza4204200 E0 E. S. Skelkelly ly Dr.Dr., S, Suituite 3e 32020TulTulsa,sa, OK OK 74 74135135DarDarceycey Ne Newsuwsum,m,DirDirectector,or, Ma Markerketinting &g & Sa Salesles(80(800) 0) 443443-03-033030
OROREGEGONONPorPortlatlandnd5285285 M5 Meadeadowsows Ro Road,ad, Su Suiteite 17 1700LakLake Oe Osweswego,go, OR OR 97 97035035RicRick Pk Portorterfierfi el eld, d, fifiDirDirectector,or, Ma Markerketinting &g & Sa Salesles(80(800) 0) 832832-95-955555
PEPENNNNSYSYLVLVANANIAIAPitPittsbtsburgurghhThrThree ee PenPenn Cn Cententer er WesWesttPenPenn Cn Cententer er BlvBlvd.,d., Su Suiteite 12 1288PitPittsbtsburgurgh, h, PA PA 1521527676TreTreg Bg Baldaldinging, R, Regiegionaonal Dl Direirectoctorr(80(800) 0) 222222-04-044747
TETENNNNESESSESEEEMemMemphiphiss5355350 P0 Poploplar ar AveAvenuenue, S, Suituite 3e 31212MemMemphiphis, s, TN TN 3813811717FraFrank nk GilGillialiam, m, SalSales es RepRepresresententatiativeve(80(800) 0) 937937-93-934545
TETEXAXASSAusAustintin7007000 N0 N. M. Mopaopac Ec Exprxpressesswayway, S, Suituite 1e 14040AusAustintin, T, TX 7X 787387311DarDarceycey Ne Newsuwsum,m,DirDirectector,or, Ma Markerketinting &g & Sa Salesles(80(800) 0) 443443-03-033030
VIVIRGRGININIAIARicRichmohmondnd6806800 P0 Paraaragongon Pl Placeace, S, Suituite 5e 53434RicRichmohmond,nd, VA VA 23 23230230JohJohn Fn Feeneeney,ey,DirDirectector,or, Ma Markerketinting &g & Sa Salesles(80(800) 0) 945945-65-658484
WAWASHSHININGTGTONONSeaSeattlttleeOneOne Un Unionion Sq Squaruare,e,600600 Un Univeiversirsity ty StrStreeteet, S, Suituite 1e 1800800SeaSeattlttle, e, WA WA 9819810101RicRick Pk Portorterfierfi el eld, d, fifiDirDirectector,or, Ma Markerketinting &g & Sa Salesles(80(800) 0) 832832-95-955555
WIWISCSCONONSISINNMilMilwauwaukeekee100100 No Northrth Co Corporporatrate De Drivrive,e, SuSuiteite 15 1500BroBrookfiokfieleld, d, WI WI 5305304545fifiSteStephephen Rn Ringing,,DirDirectector,or, Ma Markerketinting &g & Sa Salesles(80(800) 0) 933933-31-313636
DELIVERING ON LONG-TERM PROMISES | GUARDIAN 201128
If you would like to find a Guardian Financial fiRepresentative or service provider; report a problem or make an inquiry; or access a list of product area phone numbers and Guardian home offi ce locations, visit:ffi
WWW.GUARDIANLIFE.COM/CONTACTUS
CONTACT US
TABLE OF CONTENTS
2 LETTER TO POLICYHOLDERS
3 FINANCIAL HIGHLIGHTS
5 EXECUTIVE MANAGEMENT & BOARD OF DIRECTORS
6 DELIVERING ON LONG-TERM PROMISES
16 2011 FINANCIALS
18 IMPORTANT INFORMATION
20 COMPANY LISTINGS
28 CONTACT US
GUARDIAN SUBSIDIARIES AND AFFILIATES
Berkshire Life Insurance Company of America (BLICOA)e-Money Advisor Holdings, LLCFirst Commonwealth, Inc.Guardian Baillie Giff ord LimitedGuardian Investor Services LLC (GIS)The Guardian Insurance & Annuity Company, Inc. (GIAC)Innovative Underwriters, Inc.Managed Dental Care (California)Managed DentalGuard, Inc. (New Jersey)Managed DentalGuard, Inc. (Ohio)Managed DentalGuard, Inc. (Texas)Park Avenue Life Insurance Company Park Avenue Securities LLCRS Investment Management Co. LLC
Guardian is an Equal Opportunity Employer
Design by Agenda:www.agendanyc.com