HORSHAM, Pa. – The Penn Mutual Life Insurance Company (Penn Mutual) is pleased to announce its Board of Trustees has approved a 2019 dividend award payout to eligible policyholders of $87 million—an increase over the 2018 award.
Headquartered in Horsham, PA, Penn Mutual attributes the substantial dividend payout increase to the growth and strong performance of its whole life business. While the company will decrease its dividend scale in 2019, Penn Mutual’s dividend action history over the last 20 years remains the industry’s strongest and most consistent.
Chairman and CEO Eileen McDonnell commented, “Penn Mutual has demonstrated enduring financial strength and a commitment to delivering on its promises to policyholders for 171 years. We are proud to be able to say that Penn Mutual has never failed to pay dividends to eligible policyholders—even through our country’s most challenging economic times.”