The Penn Mutual Life Insurance coverage Firm has introduced that it has maintained its dividend scale for 2023 and the board of trustees has authorized a document $163 million payout to eligible policyholders subsequent yr.
Dividends are a key measure of a mutual insurance coverage agency’s efficiency, the corporate stated. Penn Mutual has persistently paid dividends to eligible policyholders for almost 175 years.
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“We’re proud that our dividend motion during the last 20 years stays one of many strongest and most constant within the trade,” stated Dave O’Malley, president and CEO of Penn Mutual. “This noteworthy achievement, notably given in the present day’s financial uncertainty, displays our long-term perspective, a shared dedication to upholding the corporate’s monetary energy and serving one of the best pursuits of our policyholders.”