March 02, 2015 10:16 AM ET

Insurance

Company Overview of The Penn Mutual Life Insurance Company

Company Overview

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

United States

Founded in 1847

Key Executives for The Penn Mutual Life Insurance Company

Chairman, Chief Executive Officer and President
Age: 52
Chief Financial Officer, Senior Vice President and Member of Executive Team
Chief Operating Officer
Age: 39
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
Age: 56
Compensation as of Fiscal Year 2014.

The Penn Mutual Life Insurance Company Key Developments

The Penn Mutual Life Insurance Company Appoints James S. (Jim) Hunt as Board of Trustee

The Penn Mutual Life Insurance Company announced the election of James S. (Jim) Hunt to the company's Board of Trustees, effective January 1, 2015. Jim has an impressive business background, having spent 15 years with Ernst & Young, and most recently as executive vice president and CFO with Walt Disney Parks and Resorts Worldwide, where he worked on an executive team that was responsible for leading the business through a period of significant global expansion and product diversification, as well as global business technology strategy. Hunt retired from The Walt Disney Company in 2012 after 20 years of service. The election to the company's board comes at a time when the company is placing an emphasis on building its brand visibility and customer engagement. In addition to Penn Mutual, Jim serves on the Board of Directors of Brown & Brown Inc., where he is a member of both the audit and compensation committees and the Board of Trustees of Children's Hospital Los Angeles, as chair of the finance committee.

The Penn Mutual Life Insurance Company Announces Dividend Scale Increase

The board of directors of The Penn Mutual Life Insurance Company approved a dividend scale increase for policies issued prior to 2005, while policies issued 2005 and later will maintain their dividend scale. The total dividend award payout for 2015 is $41.2 million, $8 million greater than the 2014 dividend award, marking the fifth consecutive year that Penn Mutual's dividend payout has increased.

The Penn Mutual Life Insurance Company Updates its Guaranteed Protection Universal Life Product

The Penn Mutual Life Insurance Company has revised the pricing for its Guaranteed Protection Universal Life (GPUL) product. Penn Mutual has reduced no-lapse guarantee premiums for the popular lifetime level and 10 pay options by 3-5%, on average. The premium reduction, combined with the existing Chronic Illness Accelerated Benefit Rider, which is included on most policies at no additional charge at issue, enhances the competitive features offered to help clients' needs. The new product went into effect nationwide for new business on September 22, 2014.

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