Financial Information

Financial Information for National Guardian Life Insurance Company.

  • Report from 2019
  • Summary of Financial Position
  • Liabilities, Capital & Surplus
  • Summary of Operations
Knut A. Olson
Chief Executive Officer

Read Knut's full message in NGL's 2019 Annual Report.

During this unprecedented period in our world, with economic fluctuations and the uncertainty of the coronavirus, I wanted to modify our original annual report message to assure you that National Guardian Life Insurance Company (NGL) will continue to be here for you when you need us. We have a longstanding history of financial strength and stability. We survived many challenging times in our 110 years, and this is no different. I am proud to see how our employees and partners continue to step up to ensure we are providing the excellent service you expect, even while our work environment has changed. Our focus on people remains our highest priority. We are adapting very well to this “new normal” and expect to be an even stronger NGL in the future.

Reflecting on 2019
We had an exciting 2019 with many transitions aimed to strengthen us for long-term opportunities. Part of the transition was ensuring NGL has the leadership in place who can help us grow our business and adapt to our changing environment. I believe we are well positioned for continued growth with the recent addition of several experienced leaders who have the knowledge and capabilities to drive NGL into the future.

Last year we also said goodbye to one of our long-time Board members and key leaders, former NGL President & CEO John D. Larson, who passed away in September. John left behind a legacy of caring for people, a commitment to Madison and a profound integrity in all of his dealings. Prior to his passing we worked with our Board of Directors to create the John D. Larson Scholarship Fund for the University of Wisconsin-Madison School of Business. This scholarship was established to honor John who was an integral part of NGL for nearly 50 years.

Financial Strength and Stability
The world’s oldest and most authoritative insurance rating information source, AM Best, revised NGL’s outlooks to positive from stable and affirmed A- (Excellent) rating effective February 28, 2020. This is positive news and confirms our excellent ability to meet ongoing policy obligations. Our strong financial positioning means that NGL can be counted on when you need us most. For more than a century NGL has been a leader in the insurance industry. We believe in providing insurance solutions that link people to the right products and partners for life’s journey. Our purpose is to help people face life’s financial challenges with confidence, dignity and grace.

Read the full letter and more in NGL's 2019 Annual Report.

Summary of Financial Position

Consolidated Statutory Basis (in millions)




Bonds $3,847 $4,037
Mortgage Loans $106 $100
Cash and Short-Term Investments $151 $188
Other Invested Assets $246 $250
Other Assets $149 $144
Total Assets $4,499 $4,719

Liabilities, Capital and Surplus 

(In millions)

Liabilites Cap Surplus for 2018

Summary of Operations

Consolidated Statutory Basis (in millions)

Consolidated Statutory basis chart



Total Revenue $957 $954
Policy Benefits $662 $663
Commissions and Operating Expenses $903 $900



Net Gain Before Income Taxes       $54 $54
Income Taxes $15 $18
Net Gain from Operations $39 $36
Capital Gains (Losses) $6 $1
Net Income $44.5 $37

Basis of Presentation: These statements reflect management's presentation of the consolidated financial condition of NGL and its results of operations in accordance with statutory accounting principles.