updated 11/18/2010 9:16:17 AM ET 2010-11-18T14:16:17

NEW YORK, Nov. 18, 2010 (GLOBE NEWSWIRE) -- The Guardian Life Insurance Company of America (Guardian), one of the largest mutual life insurers and a leading provider of employee benefits, today announced that its Board of Directors has approved payment of $740 million in dividends to the company's individual life policyholders in 2011. The allocation is the largest-ever distribution to Guardian's participating policyholders and reflects a dividend interest rate of 6.85%.

"Guardian has consistently delivered on its commitment to provide participating policyholders with strong dividend performance throughout our 150 year history," said Dennis J. Manning, Guardian's Chairman and Chief Executive Officer. "We are especially pleased to pay record dividends at a time of economic uncertainty and remain committed to providing our policyholders with a strong performing whole life policy while maintaining excellent financial strength and ratings."

Added Deanna M. Mulligan, Guardian's President and Chief Operating Officer: "Dividends are one of the most important ways that a mutual insurer such as Guardian provides value to its participating life insurance policyholders. This strong dividend allocation comes as a result of Guardian's investment performance and favorable mortality experience."

As a mutual company, Guardian is organized and maintained for the benefit of its participating policyholders. The company's value proposition is to provide high quality, low net-cost life insurance while maintaining the greatest degree of financial strength. Annual dividends are one of the most important ways that Guardian's policyholders participate in the company's success. 

About Guardian

A mutual insurer founded in 1860, The Guardian Life Insurance Company of America and its subsidiaries are committed to protecting individuals, business owners and their employees with life, long-term care, disability income, group medical and dental insurance products, and offer 401(k), annuities and other financial products. Guardian operates one of the largest dental networks in the United States, and protects more than six million employees and their families at 120,000 companies. The company has more than 5,400 employees in the United States and a network of over 3,000 financial representatives in more than 80 agencies nationwide.

For more information about Guardian, please visit: www.GuardianLife.com .

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