Eileen McDonnell, CEO of The Penn Mutual Life Insurance Company, Recognized in 2018 Class of Most Admired CEOs by Philadelphia Business Journal
Regional award highlights McDonnell’s dedication and innovation within Penn Mutual.
HORSHAM, Pa. – December 05, 2018 – The Penn Mutual Life Insurance Company (Penn Mutual) is pleased to announce that Eileen McDonnell, chairman and CEO of Penn Mutual, is named a Philadelphia Business Journal 2018 Most Admired CEO Awards honoree. Throughout her 10-year tenure, McDonnell has propelled the insurance company toward remarkable success through her innovative business developments, unique initiatives to grow the company and unwavering commitment to associates. McDonnell will be recognized at a ceremony hosted by the publication on Dec. 6.
In its fifth year, the Most Admired CEO Awards seek to spotlight regional business leaders who have elevated the vision of their company, bolstered their financial performance, continually motivated employees and ultimately contributed to the overall success of the Philadelphia business community.
The regional award comes on the heels of exceptional accomplishments seen by Penn Mutual over the last 12 months. Earlier this year, the company received high honors from the Novarica Insurance Technology Research Council, recognizing a digital experience debuted by the company that condenses the application, underwriting and policy delivery process from an industry average of 30 days or more to as little as 24 hours. McDonnell also led the charge in promoting diversity both within the workplace and throughout the industry. Penn Mutual is proud to have a board and executive team that is over 40 percent female. In addition, McDonnell led the launch of myWorth, a company powered by Penn Mutual that aims to educate women on financial planning.
Other company accomplishments include Penn Mutual’s massive growth, with the firm now securing $150 billion of life insurance in force and solidifying its position as a leading life insurer. Additionally, Penn Mutual was again included on the prominent Fortune 1,000 list this year, and has risen up the ranking by 219 spots since 2015. Penn Mutual is also one of seven Fortune 1,000 companies with a dual female CEO-CFO team.
David O’Malley, president and chief operating officer at Penn Mutual, says that McDonnell has always honored the company’s storied 171-year-old past, but remains forward-looking. “Eileen understands the importance of staying ahead in the industry. She has not only enacted meaningful objectives and initiatives to spur growth, but keeps our corporate values at the foundation of everything we do. It is her goal-oriented philosophies and innovative approach to industry advancements that have pushed Penn Mutual forward.”
McDonnell credits her inclusion to the Most Admired CEO Awards program this year to the dedicated Penn Mutual associates and shared leadership mentality that resonates throughout the company. “I’m proud to look back at what we accomplished in the last year, and excited to see where 2019 and beyond take us,” she says. “Being included on this list is a testament that we, as an entire company, are moving the needle in the right direction to advance our industry as a whole.”
About The Penn Mutual Life Insurance Company
Since 1847, Penn Mutual has been committed to helping people live life with confidence. At the heart of this purpose is the belief that life insurance is central to a sound financial plan. Through our network of trusted advisers, we are dedicated to helping individuals, families and businesses achieve their dreams. Penn Mutual supports its advisers with retirement and investment services through Hornor, Townsend & Kent, Inc. Registered Investment Advisor and wholly owned subsidiary. Member FINRA/SIPC. We are proud to work together in a values-driven and relationship-based culture. Visit Penn Mutual at www.pennmutual.com.