Guardian Life Limited (GLL) is reporting after-tax profits of $9.3 billion for the year ended December 31, 2020, an increase of 17 per cent on the $7.9 billion achieved in 2019.
This performance, the company said in a news release, reflects growth in core business and improvements in its asset-liability matching and operational efficiency.
The company closed the year with an asset base of $135 billion, a strong solvency or MCCSR (minimum continuing capital and surplus requirements) ratio of 211.3 per cent and a return on average shareholders’ equity of 34 per cent.
The company noted that the novel coronavirus pandemic had a deleterious impact on the economy during 2020, resulting in the curtailment of domestic investments as evidenced by the bearish performance of the Jamaica Stock Exchange.
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