The Penn Mutual Life Insurance Company, commonly referred to as Penn Mutual, was founded in Philadelphia, Pennsylvania, in 1847. It was the seventh mutual life insurance company chartered in the United States. As of 2019, it had 3,140 employees, $3.7 billion in revenue, and $36.7 billion in assets.
Penn Mutual is headquartered in Horsham, Pennsylvania, just outside Philadelphia.
Its subsidiaries include the brokerage firm Janney Montgomery Scott, which as of 2020 had $90 billion in assets under advisement for its clients.
In 2017, Penn Mutual settled a lawsuit against it for $110 million, in which policyholders had charged that the company had improperly withheld surplus funds, rather than distribute them as dividends.