The Penn Mutual Life Insurance coverage Firm has introduced that it has maintained its dividend scale for 2023 and the board of trustees has authorised a document $163 million payout to eligible policyholders subsequent 12 months.
Dividends are a key measure of a mutual insurance coverage agency’s efficiency, the corporate mentioned. Penn Mutual has constantly 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,” mentioned Dave O’Malley, president and CEO of Penn Mutual. “This noteworthy achievement, significantly given right this moment’s financial uncertainty, displays our long-term perspective, a shared dedication to upholding the corporate’s monetary power and serving the very best pursuits of our policyholders.”