The Penn Mutual Life Insurance Company Announces Record Dividend Payout

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The Penn Mutual Life Insurance Company

Nov 21, 2022, 09:12 ET

Company Maintains Dividend Scale, Awards $163 Million Payout in 2023

HORSHAM, Pa., Nov. 21, 2022 /PRNewswire/ -- The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, is pleased to announce that the company has maintained its dividend scale for 2023 and the Board of Trustees has approved a record $163 million payout to eligible policyholders in 2023.

Dividends are a key measure of a mutual company's performance and Penn Mutual has consistently paid dividends to eligible policyholders for nearly 175 years. This announcement extends the company's long track record of delivering strong performance and value to policyholders.

"We're proud that our dividend action over the last 20 years remains one of the strongest and most consistent in the industry," said Dave O'Malley, President and CEO. "This noteworthy achievement, particularly given today's economic uncertainty, reflects our long-term perspective, a shared commitment to upholding the company's financial strength and serving the best interests of our policyholders."

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.

Contact:
Jeff Leinen
Penn Mutual
215-956-8530
[email protected]

SOURCE The Penn Mutual Life Insurance Company