Financials

Financials

Guarantee Trust Life Insurance Company’s enjoyed another strong year in our 87 years as a company. In 2022, GTL posted a $33 million operating gain while growing surplus by 14 percent, assets by 5 percent, reserves by 4 percent and achieving net premium of $258 million.

As of 2022, GTL is proud to have a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a- by AM Best.

Net Premium Income

(In Millions)

2019
2020
2021
2022

Net Gain Before Federal Taxes

(In Millions)

2019
2020
2021
2022

Surplus

(In Millions)

2019
2020
2021
2022

Balance Sheet

$834 million in total assets
$807 million in invested assets
$657 million in total liabilities
$617 million in total reserve for life policies and contracts, and accident and health
policies
$176 million in net surplus

Invested Assets

85% Bonds
2% Stocks
10% Mortgages
1% Cash & Short Term Investments
2% Other

Bonds

93% of the bonds we hold are designated “Highest Quality” (Class 1) or “High Quality” (Class 2) by the National Association of Insurance Commissioners (NAIC).

Diversification

The portfolio is well diversified across a variety of high quality sectors with 41% in Corporate Bond Securities and 9% in Municipal Bond Securities.