HORSHAM, PA —The Penn Mutual Life Insurance Company has recently announced an unprecedented estimated dividend award of $200 million for participating policyholders in 2024. This record-breaking payout marks the company’s 175th consecutive year of issuing dividends.
Penn Mutual’s President and CEO, Dave O’Malley, expressed his pride in the announcement. “Our 2024 dividend reflects the commitment of the company to continually deliver for our policyholders,” he said. “With our unwavering commitment to mutuality, we continue to make decisions for long-term growth and financial strength.”
The company’s financial robustness is also evident in its external ratings, which include AM Best A+ (Superior), Fitch Ratings AA- (Very Strong), Moody’s Investor Service Aa3 (High Quality), S&P Global Ratings A+ (Strong), and Kroll Bond Rating Agency AA (Very Strong).
Penn Mutual’s total adjusted surplus has now grown to over $3 billion. The company attributes this success to its strong product offerings, a prudently positioned investment portfolio, diversified business lines, and consistent operating results, all of which have been instrumental in increasing the company’s dividends year after year.
“This dividend award demonstrates our ability to deliver in a dynamic operating environment,” added O’Malley, emphasizing the company’s resilience and adaptability in the face of fluctuating market conditions.
For more detailed information about Penn Mutual’s financial strength, interested parties are encouraged to visit the company’s website.
This landmark dividend award further solidifies Penn Mutual’s position as a leader in the life insurance industry, demonstrating its commitment to policyholder value and financial stability. It serves as a testament to the company’s enduring legacy of reliability and growth, offering reassurances to current and potential policyholders about its financial health and longevity.
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