Guardian Life celebrates 20 years with record profit
Guardian Life President Eric Hosin. (Photo: Llewellyn Wynter)
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 Limited, during the company’s 19th Annual Awards Ceremony held on Saturday at the Sunken Gardens, Hope Gardens.
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 of this year.
The company will soon break ground for a 176-apartment complex, complete with amenities such as a swimming pool, tennis court, gym, and a jogging trail.
Noting that what started out as a US$28.5 million investment in 1999, is today an organisation with a net worth of over 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.
He said: “2018 was a record year 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 explained that at age 20, Guardian Life was still pretty young, and would continue to be philanthropic and contribute to nation building.
The awards ceremony, which saw over 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.