The Penn Mutual Life Insurance Company Financial Strength Affirmed by Top Rating Agencies
Moody’s Investors Service and Kroll Bond Rating Agency give the life insurance company and its subsidiaries top marks
HORSHAM, PA – November 16, 2020—The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, is pleased to announce that Moody’s Investors Service and Kroll Bond Rating Agency (KBRA) have once again recognized the strength of the company and its related life insurance subsidiaries. During both agencies’ recent reviews, Penn Mutual received stable outlooks and outstanding marks for its product portfolio and growing market position.
“We’re proud to have these agencies affirm our financial strength,” commented Dave Raszeja, senior vice president and chief financial officer at Penn Mutual. “These votes of confidence are significant at a time when many agencies have a negative outlook on the industry as a whole, in large part because of the pandemic and its impact on the economic environment. We have maintained an enviable position of financial strength and stability for more than 173 years because of our long-term, mutual perspective, prudent management approach and priority focus on our policyholders.”
Ratings agencies provide an independent view of the future ability of an insurance company to fulfill its long-term obligations to policyholders. Moody’s Investors Service reaffirmed Penn Mutual’s Aa3 (High Quality) rating, which reflects the company’s solid capitalization, liquidity and good asset quality. KBRA reaffirmed Penn Mutual’s AA (Very High Quality) Insurance Financial Strength Rating (IFSR). KBRA recognized Penn Mutual’s commitment to mutuality, prioritization of policyholders, long-term financial strength and viability of the enterprise, and innovative technology. The agency also noted Penn Mutual’s highly productive distribution channels and investment in technology has differentiated the company from its peers.
About The Penn Mutual Life Insurance Company
Penn Mutual is 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 financial professionals, we are dedicated to helping individuals, families and businesses achieve their dreams. 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.
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.