AM Best Affirms Credit Ratings of Guardian Life Insurance Company of America and Its Subsidiaries
AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” (Superior) of
The ratings reflect Guardian’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and very strong enterprise risk management (ERM).
The group has maintained a solid risk-based capital profile with risk-adjusted capitalization at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). Guardian’s capital profile includes access to capital markets through its moderate use of surplus notes and additional liquidity as a member of the
The ratings also consider Guardian's diversified product portfolio, which is supported by strong market positions in its core individual life, individual disability and group insurance markets. The consistency of Guardian’s balance sheet and operating performance are based on its continued low risk profile that is embedded into its ERM program, as well as strong underwriting performance. The company is actively managing its exposure to credit-related risk as part of its ERM process and has demonstrated the ability to withstand prolonged credit exposure should it worsen.
While Guardian has achieved favorable sales growth within its core lines of business in recent years, the company operates in highly competitive markets that have historically resulted in some sales and earnings volatility.
The following Long-Term IRs have been assigned with stable outlooks:
Guardian Life Global Funding – “aa+” (Superior) program rating
— “aa+” (Superior) on
— “aa+” (Superior) on
— “aa+” (Superior) on
The following Long-Term IRs have been affirmed with stable outlooks:
— “aa-” (Superior) on
— “aa-” (Superior) on
— “aa-” (Superior) on
— “aa-” (Superior) on
Guardian Life Global Funding – “aa+” (Superior) program rating
—“aa+” (Superior) on all outstanding notes issued under the program
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in
Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
src="https://cts.businesswire.com/ct/CT?id=bwnewssty=20230714107638r1sid=acqr8distro=nxlang=en" style="width:0;height:0" />
View source version on businesswire.com: https://www.businesswire.com/news/home/20230714107638/en/
Senior Financial Analyst
+1 908 882 1995
[email protected]
Associate Director, Public Relations
+1 908 882 2310
[email protected]
Associate Director
+1 908 439 2200
[email protected]
Senior Public Relations Specialist
+1 908 882 2318
[email protected]
Source: AM Best
AM Best Places Credit Ratings of GuideOne Insurance Companies’ Members Under Review With Negative Implications
Homestead Insurance Agency Specializes in Medicare in Medina and Brunswick, Ohio: For those needing Medicare in Medina and Brunswick, Ohio, Homestead Insurance Agency Inc can help.
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News