Business

Guardian Life makes record profits for 20th anniversary

Sunday, March 17, 2019

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FOR the first time in its 20-year history, Guardian Life Limited has achieved a consolidated net profit of $6.9 billion.

The announcement was made by Eric Hosin, president, Guardian Life, during the company's 19th Annual Awards Ceremony hold on Saturday, March 9, 2019 at the Sunken Gardens, Hope Gardens in Kingston.

Noting that what started out as a US$28.5-million investment in 1999, is today an organisation with a net worth of more than US$155 million, after dividends paid to shareholders, Hosin used the platform to congratulate all Guardian Life employees for the exceptional work done over the years.

“The year 2018 was a record for the company in many respects. Our solvency ratio at the end of 2018 was 245 per cent; 95 percentage points above the regulatory minimum requirement of 150 per cent and our shareholders' equity stood at $19.6 billion, a 23 per cent increase over 2017's $16 billion,” Hosin announced.

Hosin shared that Guardian Life's first real estate project, The Hampshire, which was sold out within a week of being introduced to the market, is looking to be completed in May this year.

He noted that his company was soon to break ground for a 176-apartment complex, complete with amenities such as a swimming pool, tennis court, gym, and jogging trail.

He explained that at age 20, Guardian Life was still pretty young, and would continue to be philanthropic and contribute to nation building.

The event, which saw more than 400 team members from across the island coming together to celebrate the company's 20th anniversary, was used as a platform to recognise the approximately 120 employees who have been with the company since inception, and administrative and sales staff for their sterling performance for 2018.


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