Our History

Making Good on Our Promises Since 1847

Since our founding in 1847 in Philadelphia, Penn Mutual has remained steadfast in our commitment to delivering personalized life insurance solutions—never relying on a one-size-fits-all approach. Our focus on individual needs and long-term relationships has set us apart for more than 175 years.

This enduring philosophy continues to guide us today, as we help place protection solutions at the center of building stronger financial futures for families, individuals, and businesses. With a legacy of trust, strength, and consistency, we look forward to serving our policyholders and Financial Professionals for many years to come.

1800s

1847

Penn Mutual was founded, chartered and open for business.

1848

On October 20, we paid our first death claim of $4,963.33.

1849

In the form of a scrip certificate, we declared our first dividend.

1888

Our first annuities were issued.

1900s

1909

Our total assets passed $100 million.

1920

Our life insurance in force reached $1 billion.

1932

We issued our first retirement policy.

1968

Over one million of our policies and master group contracts were in force.

1982

We introduced universal life insurance, becoming the first major East Coast mutual company to do so.

1997

On our 150th anniversary, we established a trust at The American College to celebrate our past and contribute to a brighter future.

2000s

2003

We were voted the 8th best place to work in our home state, Pennsylvania.

2007

We introduced our online Client Service Center.

2008

A.M. Best recognized us for receiving a financial strength rating of "A" or higher for at least 75 years.

2012

We founded the Penn Mutual Center for Veterans Affairs at The American College to provide scholarships to active and retired service members and their spouses.

2015

We made our debut on the Fortune 1000 list at #980. We've moved up the list every year since.

2018

We launched our Accelerated Client Experience (ACE), our signature, pioneering platform that speeds up the end-to-end application process for financial professionals and their clients.

2022

We celebrated our 175th anniversary as a company and delivering on our promises.

AM Best affirmed our A+ (Superior) financial strength rating and recognized us for receiving a rating of “A” or higher for 95 consecutive years – the longest streak in the industry.

2022

We were first recognized as a Certified™ Great Place To Work®, with our fully flexible work environment empowering employees across the U.S. to choose where they work best.

Who's Penn Mutual?

We're Penn Mutual, a leader in life insurance, placing protection solutions at the center of stronger financial futures.

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