Press Releases

Gerard Cuddy

The Penn Mutual Life Insurance Company Announces New Board Member

Former Beneficial Bank President and Chief Executive Officer Gerard P. Cuddy to serve on company’s board of trustees

HORSHAM, Pa.June 12, 2019 — The Penn Mutual Life Insurance Company (Penn Mutual) is pleased to announce the election of former president and chief executive officer of Beneficial Bank, Gerard P. (Gerry) Cuddy, to the company’s board of trustees. Cuddy joined the board on April 1, 2019.

Cuddy is an accomplished executive with extensive experience in the local banking and financial services industry. As a result of its recent merger with Beneficial Bank, he now serves on the board of directors of WSFS Financial Corporation (NASDAQ: WSFS), a multi-billion dollar financial services company based in Wilmington, Delaware. He also held senior management positions with First Union National Bank and Citigroup in the metro Philadelphia region, and served as senior vice president of Fleet/Bank of America.

Cuddy joins the Penn Mutual board of trustees as the 172-year-old company continues its impressive growth. Since debuting on the Fortune 1000 list in 2015 at number 980, Penn Mutual has continued to climb the rankings, ascending to number 723 in the recently released 2019 rankings. Additionally, the company oversees more than $150 billion of life insurance in force. 

Of Cuddy’s inclusion to the board, Eileen McDonnell, chairman and CEO of Penn Mutual, says, “The foundation of our company is built on our unwavering commitment to mutuality. We have never lost focus on the importance of our advisers and policyholders. Given Gerry’s professional experience, long tenure and impressive record within the financial sector, we know he will be a pillar in supporting our continued growth and commitment to those we serve.”

In addition to Penn Mutual’s board, Cuddy serves on the board of the Foreign Policy Research Institute and previously served as a Board of Education member for the Archdiocese of Philadelphia.

About The Penn Mutual Life Insurance Company
Penn Mutual is committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Visit Penn Mutual at


Morgan Polley
Gregory FCA

Lauren Kane
Penn Mutual