Managing Challenges Together
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Helping you protect what matters
APRIL 23, 2020
To Our Valued Policyholders,
We hope this finds you and your loved ones doing well during these challenging times. Over the past several months we have witnessed the devastating human impact of COVID-19 across the country and around the world. On top of that, the pandemic’s widespread economic fallout includes volatile markets and low interest rates along with the push and pull of short-term deflation and the challenge of rapidly rising deficits.
Each of us has been asked to modify our way of life in order to protect ourselves and one another. Penn Mutual is no different. Our associates have risen to the challenge of working remotely—and seamlessly—to provide uninterrupted service to you and your financial professional. We are proud of their passion and resilience as they continue to move the company forward and we are pleased to share stories of their contributions to our shared success in the Annual Report we just released.
We are grateful to those of you who are working on the front lines of this pandemic providing compassion and care for those needing medical assistance, as well as keeping essential services operational. We appreciate the sacrifices that you and your families are making on behalf of all of us.
For those who have contracted the virus, we hope that your recovery is swift and complete. And to those who have experienced the loss of someone you hold dear, please know you have our deepest sympathies.
Penn Mutual was built for times like these. As a mutual company we have provided a source of strength and stability for over 173 years. Know that we are here for you, that we are focused on the things we can control and that, together, we look forward to brighter days ahead.
The Penn Mutual Executive Team
Eileen C. McDonnell, David O’Malley, Ray Caucci, Greg Driscoll, Thomas H. Harris, Nina M. Mulrooney, Dave Raszeja, and Victoria Robinson
MARCH 17, 2020
Given the evolving status of the Coronavirus (COVID-19), we want to assure you that Penn Mutual is committed to providing uninterrupted service to our policyholders, contract owners and financial professionals, while also maintaining the safety and well-being of our associates.
You can count on Penn Mutual at challenging times like this. Our financial professionals and associates have dedicated themselves to delivering quality products and services that help you navigate life's uncertainties, from a position of strength. We've been keeping our promises for 173 years with a record of strong financial performance. We've protected what matters most through recessions, wars and pandemics and have always taken the long-term view.
Our legacy of financial strength, fueled by prudent risk management and diversified investment strategy, ensures our claims paying ability remains strong to meet all of our obligations. We are well positioned to handle interest rate changes, market volatility and other disruptors.
Given the current COVID-19 situation, we regularly monitor global and local developments as well as guidelines from the Centers for Disease Control and the World Health Organization. We remain confident in the precautions we've taken so far and in our ability to operate our business in a changing environment. We will continue to use our risk management expertise to see us through this period.
We fully expect to maintain high levels of service and responsiveness to our clients and financial professionals. Our support systems and processes, strengthened by increased digital capabilities, enable us to serve policy holders, contract holders and financial professionals from just about anywhere. All of our associates are set up to work from home and remote systems have been thoroughly tested.
Helping you protect what matters is important to us. We hope that you and your loved ones are safe and healthy. Let us know if we can help in any way.