The Penn Mutual Life Insurance Company Financial Strength Reaffirmed by Top Rating Agencies
HORSHAM, Pa., Dec. 16, 2021 /PRNewswire/ -- The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, is pleased to announce that Kroll Bond Rating Agency (KBRA) and Standard and Poor’s (S&P) have again recognized the financial strength of the company and its subsidiaries. During recent reviews by both agencies, Penn Mutual received stable outlooks and was noted for its strong competitive position, solid market presence in U.S. individual life and annuities markets, differentiated technology and national distribution network.
“Our legacy of financial strength is foundational to the company and our success,” said Dave Raszeja, Penn Mutual’s senior vice president and chief financial officer. “We’re proud to have these agencies continue to recognize our commitment to mutuality and our investments in people, products and innovation as part of our long-term, prudent management approach and prioritization of our policyholders.”
Ratings agencies provide an independent view of the future ability of an insurance company to fulfill its long-term obligations to policyholders. KBRA reaffirmed Penn Mutual’s AA (Very High Quality) Insurance Financial Strength Rating (IFSR). KBRA recognized Penn Mutual’s focus on risk management as a core competency, highly productive distribution channels and investment in technology to differentiate itself from peers.
S&P reaffirmed Penn Mutual’s A+ (Strong) rating highlighting the company’s national distribution network with diversified distribution channels. They also acknowledged the company’s improved brand awareness, diversified enterprise revenue streams and digital platforms that have enabled it to continue executing on life insurance sales despite pandemic-related environments.
Both KBRA and S&P’s reviews serve as independent proof for financial professionals, prospective clients and current policyholders to reinforce the company’s ability to make good on its promises to provide protection, give greater financial flexibility, and allow for a safe retirement.
About The Penn Mutual Life Insurance Company
Penn Mutual helps people become stronger. Our expertly crafted life insurance is vital to long-term financial health and strengthens people’s ability to enjoy every day. Working with our trusted network of financial professionals, we take the long view, building customized solutions for individuals, their families, and their businesses. Penn Mutual supports its financial professionals with retirement and investment services through its wholly-owned subsidiary Hornor, Townsend & Kent, LLC, member FINRA/SIPC. Visit Penn Mutual at www.pennmutual.com.
©2021 The Penn Mutual Life Insurance Company, 600 Dresher Road, Horsham, PA 19044
An insurer’s financial strength rating represents an opinion by the issuing agency regarding the ability of an insurance company to meet its financial obligations to its policyholders and contract holders and not a statement of fact or recommendation to purchase, sell or hold any security, policy or contract. These ratings do not imply approval of our products and do not reflect any indication of their performance. For more information about a particular rating or rating agency, please visit the website of the relevant agency.
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SOURCE The Penn Mutual Life Insurance Company