Our History

arrow

We've literally been doing this for more than 175 years.

For our entire history, we’ve worked at setting ourselves apart from the industry by creating custom, individual life insurance policies for our clients. Never using a generic, one-size-fits-all approach to building someone’s future.

It’s this approach that’s kept us in business since our founding in 1847 in Philadelphia. And helping generations of families feel the serenity and confidence of a secure financial future will keep us going for another 175 years — and for many years long after that.

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), a secure, end-to-end digital platform that accelerates the application process for financial professionals and their clients.

2022

We celebrated 175 years of helping people get stronger.

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.

Take the next step

Join a thriving team of financial professionals, associates and partners who are committed to helping people get stronger. And here's the thing: Professionally, you'll get stronger too.

Learn More