The Penn Mutual Life Insurance Company Board Appoints Eileen McDonnell Chairman

  The Penn Mutual Life Insurance Company Board Appoints Eileen McDonnell
  Chairman

Business Wire

HORSHAM, Pa. -- June 21, 2013

The Board of Trustees of The Penn Mutual Life Insurance Company announced
today that Eileen C. McDonnell has been appointed to Chairman in addition to
her role as President and Chief Executive Officer of Penn Mutual, effective
July 1.

Eileen McDonnell, President and Chief Executive Officer of Penn Mutual (Photo:
The Penn Mutual Life ...

Eileen McDonnell, President and Chief Executive Officer of Penn Mutual (Photo:
The Penn Mutual Life Insurance Company)

She is succeeding Robert E. Chappell who is retiring from the chairmanship
after 17 years in that role. He is remaining on the board as a trustee.

Commenting on Eileen’s appointment, Bob Chappell said, “Eileen’s impact on
Penn Mutual in her five years with the company has been outstanding. As with
her transition to CEO a few years ago, I know that her transition to Chairman
will be a smooth one. She and the executive team have done a great job in
advancing Penn Mutual’s strategy, and I have no doubt that as Chairman of the
Board, she will continue leading Penn Mutual to an optimistic future. On a
personal note, it has truly been my privilege to have served as Chairman for
the last 17 years.”

McDonnell has held the title of President and Chief Executive Officer since
February of 2011.

According to Eileen, “It is an honor to follow in Bob Chappell’s footsteps and
I’m grateful to know that his wise counsel and contributions will continue as
a member of the board. While the past few years have proved challenging for
many in the insurance industry, we at Penn Mutual clearly benefit from a rich
history of thoughtful, steadfast leadership and an enduring commitment to our
policyholders. We will continue to serve those who believe in the complete
value of life insurance and all its possibilities as the foundation of
financial peace of mind.”

McDonnell is one of only a few women who have ever held comparable leadership
positions at a major U.S. life insurer. She joined Penn Mutual in February
2008 as Executive Vice President and Chief Marketing Officer, and Chairman of
the Board of Hornor, Townsend & Kent, Inc. She is also a member of Penn
Mutual’s Board of Trustees, as well as a member of the Janney Montgomery Scott
LLC Board of Managers. Janney Montgomery Scott is a wholly owned subsidiary of
Penn Mutual. McDonnell, a veteran of the financial services industry, was
president of New England Financial, a wholly owned subsidiary of MetLife and
senior vice president at Guardian Life Insurance Company. McDonnell also held
positions at AXA/Equitable. In addition, she was a member of the Master of
Science in Management faculty at The American College, where she held the
Chair for Women and Financial Services.

An active industry participant, Eileen is Chair of the Insurance Federation of
Pennsylvania and a board member of the American Council of Life Insurers
(ACLI). In addition she is on the board of Universal Health Services, Inc.
(NYSE: UHS), and is a National Advisor for Vision 2020.

McDonnell graduated from Molloy College, Rockville Centre, New York, where she
served as member of its board of trustees. McDonnell earned her MBA in finance
and investments from Adelphi University, in Garden City, N.Y. where she was
recently honored for outstanding service to the school.

About The Penn Mutual Life Insurance Company

Since its founding in 1847, Penn Mutual has been driven by our noble 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/.

©2013 The Penn Mutual Life Insurance Company, 600 Dresher Road, Horsham, PA
19044

A3YK-0619-12E2

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Contact:

Karma
Adrienne Kowalski, 215-790-7739
Adrienne@karmaverse.com
or
Penn Mutual
Ann Callaghan, 215-957-7496
callaghan.ann@pennmutual.com
 
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