Penn Mutual Announces Record $200 Million Dividend Award to Policyholders

News provided by

The Penn Mutual Life Insurance Company

Nov 17, 2023, 11:00 ET

HORSHAM, Pa., Nov. 17, 2023 /PRNewswire/ -- The Penn Mutual Life Insurance Company (Penn Mutual) announced today the 2024 dividend award for participating policyholders will reach an estimated $200 million, the highest level in its history. This marks the 175^th consecutive year of dividend payments made by the company.

"Our 2024 dividend reflects the commitment of the company to continually deliver for our policyholders," said Dave O'Malley, President and CEO of the company. "With our unwavering commitment to mutuality, we continue to make decisions for long-term growth and financial strength."

Penn Mutual's external ratings also reflect this financial strength. Penn Mutual's ratings include: AM Best, A+ (Superior); Fitch Ratings, AA- (Very Strong); Moody's Investor Service, Aa3 (High Quality); S&P Global Ratings, A+ (Strong); and Kroll Bond Rating Agency, AA (Very Strong). The company's total adjusted surplus has grown to over $3 billion. Strong product offerings, a prudently positioned investment portfolio, diversified business lines and consistent operating results have been the key to continuing to grow the company's dividends.

"This dividend award demonstrates our ability to deliver in a dynamic operating environment," added O'Malley.

Visit the Penn Mutual website for more information about the company's financial strength: https://www.pennmutual.com/about-us/financial-strength/ratings

About The Penn Mutual Life Insurance Company

For more than 175 years, Penn Mutual has been helping people get stronger. Our expertly crafted life insurance is vital to long-term financial health and strengthens people's ability to enjoy every day. Working with our trusted network of financial professionals, we take the long view, building customized solutions for individuals, their families, and their businesses. Penn Mutual supports its financial professionals with retirement and investment services through its wholly-owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC. Visit Penn Mutual at www.pennmutual.com.

Penn Mutual, 1847Financial, and HTK are registered trademarks of The Penn Mutual Life Insurance Company and its affiliates.

Contact:
Nicole Campbell
Penn Mutual
215-956-8572
[email protected]

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SOURCE The Penn Mutual Life Insurance Company