The Penn Mutual Life Insurance Company Announces 9th Consecutive Year of Increasing or Maintaining Dividend Scale
HORSHAM, Pa. – Nov. 21, 2016 –The Penn Mutual Life Insurance Company (Penn Mutual) is proud to announce that over the last nine years, and most notably since the financial crisis in 2008, they have increased or maintained their annual dividend scale. This month, they have announced that they again increased their dividend payout to $58 million, up $10 million from the previous year’s payout.
Penn Mutual, headquartered in Horsham, PA, is the only company among other major whole life competitors that has not decreased their dividend scale in the post-recession era.
One of our foundational elements is to remain steadfast and loyal to our mutual principles and financial strength on behalf of our policyholders,” says Eileen McDonnell, chairman and CEO at Penn Mutual. “The fact that we have increased or maintained our dividend scale every year since 2009 is verification of our long-term perspective, financial strength, and promise to our policyholders that our products, especially our whole life products, deliver best-in-class value.”
As dividends are a measured factor in the performance of a mutual insurance company, Penn Mutual credits the dividend increase in part to the growth in their whole life business.
“Along with our team of advisers, we are passionate about empowering our clients to make sound financial decisions and live life with confidence,” adds Dave O’Malley, President of Penn Mutual. “We are excited about this dividend announcement, and consciously choose to lead in our industry by continuing to act in the best interest of our policyholders.”
About The Penn Mutual Life Insurance Company
Since 1847, Penn Mutual has been driven by our purpose to create a world of possibilities. At the heart of this purpose is the belief that purchasing life insurance is the most protective, responsible and rewarding action a person can take, and is central to a sound financial plan. The company is committed to helping families unlock life’s possibilities through life insurance and annuity solutions. This is accomplished through a national network of financial professionals, who help clients make great things possible. Penn Mutual supports its field representatives with brokerage services through Hornor, Townsend & Kent, Inc., Registered Investment Advisor and wholly owned subsidiary. Member FINRA/SIPC. Visit Penn Mutual on the Internet at http://www.pennmutual.com.