The Penn Mutual Life Insurance Company’s Financial Strength Affirmed by Top Global Rating Agency
Standard and Poor’s give strong marks to life insurance company and its subsidiaries
HORSHAM, Pa. – January 11, 2021 — The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, is pleased to announce that Standard and Poor’s (S&P) has once again recognized the financial strength of the company. During the agency’s recent review, Penn Mutual received high marks for its strong competitive position and solid capitalization of the enterprise.
Ratings agencies provide an independent view of the future ability of an insurance company to make good on its promises to provide protection. S&P reaffirmed Penn Mutual’s A+ (Strong) rating, which reflects the company’s solid market presence in affluent individual life insurance and annuity markets, diversified distribution channels and investments to digital capabilities. In its report, S&P also cited the company’s improved brand awareness in supporting the competitive position, including accolades received for innovation around the Accelerated Client Experience (ACE), mobile application and increased awareness among millennials and next-generation customers through rugby sponsorships.
“Financial strength continues to be foundational to serving our policyholders’ best interests,” commented Dave Raszeja, senior vice president and chief financial officer. “By maintaining a long-term view and making strategic investments in people, products and innovation, we’re able to deliver on the promises that we’ve made. We’re proud to have the rating agency recognize our strategy and disciplined execution and continue to give us a vote of confidence.”
“Our organization has been diligent in working through this pandemic to maintain service to our policyholders and financial professionals and continue to perform at the highest levels,” continues Raszeja. “The validation of these ratings affirmations reinforces those efforts.”
Standard and Poor’s review serves as independent proof for financial professionals, prospective clients and current policyholders to reinforce the company’s ability to make good on its promises to provide protection, give greater financial flexibility, and allow for a safe retirement.
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 financial professionals, we are dedicated to helping individuals, families and businesses achieve their dreams. 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.