Company Overview of The Penn Mutual Life Insurance Company
The Penn Mutual Life Insurance Company offers various life insurance and annuity products. The company provides term life, whole life, universal life, variable universal life, and joint or survivorship life insurance products; fixed, variable, and immediate annuities; and business consulting services. It also offers a range of investment products and services, which include mutual funds, stocks, bonds, government securities, and unit investment trusts; wealth management; financial, retirement, and intergenerational planning; and strategic portfolio management; and asset management and other investment services to corporate and institutional clients. In addition, the company provides investme...
600 Dresher Road
Horsham, PA 19044
Founded in 1847
Key Executives for The Penn Mutual Life Insurance Company
Chairman, Chief Executive Officer and President
Chief Financial Officer, Senior Vice President and Member of Executive Team
Chief Operating Officer, Chairman of Penn Mutual Asset Management, Inc. and Chief Executive Officer of Penn Mutual Asset Management, Inc.
Chief Executive Officer of The Pennsylvania Trust Company and President of The Pennsylvania Trust Company
Chief Executive Officer of Janney Montgomery Scott LLC and President of Janney Montgomery Scott LLC
Compensation as of Fiscal Year 2015.
The Penn Mutual Life Insurance Company Key Developments
The Penn Mutual Life Insurance Company Announces Promotion of David O’Malley to President and Chief Operating Officer, Effective January 1, 2016
Nov 24 15
The Penn Mutual Life Insurance Company announced the promotion of David O’Malley to president and chief operating officer, effective January 1, 2016.
O’Malley’s work ethic and performance fast-tracked him to a full-time role at Penn Mutual, where over the next few years, he was responsible for overseeing fixed income portfolios and managing various sectors of the bond portfolio. His first major appointment came in 2006, when he was named chief risk officer. In 2013, he took on the responsibility of chief operating officer.
The Penn Mutual Life Insurance Company to Make Dividend Payout for 2016
Nov 24 15
The Penn Mutual Life Insurance Company announced that the Penn Mutual Board of Trustees have approved a 2016 dividend payout of USD 48 million. Representing a 17% increase for 2016, the distribution is said to be a 61% increase over five years ago, with the company having increased or maintained its dividend scale for the past five years.
The Penn Mutual Life Insurance Company Launches Two New Products
Sep 29 15
The Penn Mutual Life Insurance Company announced the immediate availability of two new annuity products, Premier Foundation Indexed Annuities and Guaranteed Foundation Fixed Annuity. These additions to Penn Mutual’s annuity offerings will significantly enhance the company’s ability to serve a broad range of consumer needs. Premier Foundation Indexed Annuities are designed to offer consumers market based growth potential tied to the performance of the market indices (up to a cap)—without the downside risk of direct market investment. With a choice of three products, offering five, eight or 10 year surrender charge periods, Premier Foundation Indexed Annuities are geared for consumers with various time horizons who want tax-deferred growth potential without risk to their principal. Each of the products also offers a unique combination of options and flexibility through: two diverse indexed account options and a fixed account option, ability to allocate funds to multiple accounts and change allocations annually, optional living benefit riders for those with growth or inflation concerns, and access to contract value through free withdrawals, required minimum distributions (RMD’s), or partial annuitization. Guaranteed Foundation Fixed Annuity is designed for consumers seeking growth to help build a source of lifetime retirement income, fill retirement income gaps or safeguard a portion of retirement savings to allow for more aggressive investing of other assets. It is geared for those who prefer predictable, tax advantaged growth with more flexibility than alternative savings vehicles, such as certificates of deposit. The product offers: guaranteed, tax-deferred, growth, guaranteed lifetime retirement income, access to contact value through free withdrawals, RMD’s, or partial annuitization, and competitive interest rates and a choice of guarantee periods.
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