Penn Mutual

---

title: "Penn Mutual" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["brutalist-architecture-in-pennsylvania", "companies-based-in-montgomery-county,-pennsylvania", "financial-services-companies-established-in-1847", "historic-american-buildings-survey-in-philadelphia", "john-haviland-buildings", "mutual-insurance-companies-of-the-united-states", "1847-establishments-in-pennsylvania"] description: "Mutual life insurance company" topic_path: "arts" source: "https://en.wikipedia.org/wiki/Penn_Mutual" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0

::summary Mutual life insurance company ::

::data[format=table title="Infobox company"]

Field	Value
name	Penn Mutual Life Insurance Company
logo	[[File:Pennmutuallogo.gif
type	Mutual
foundation
location	Horsham, Pennsylvania, United States
key_people	David O'Malley, President and CEO
num_employees	3,140 (2019)
industry	Life Insurance and Annuities
revenue	$3.7 billion USD (2019)
net_income	$396 million USD (2019)
assets	$36.7 billion USD (2019)
homepage	www.pennmutual.com
::

|name = Penn Mutual Life Insurance Company |logo = [[File:Pennmutuallogo.gif|Pennmutuallogo]] |type = Mutual |foundation = |location = Horsham, Pennsylvania, United States |key_people = David O'Malley, President and CEO |num_employees = 3,140 (2019) |industry = Life Insurance and Annuities |revenue = $3.7 billion USD (2019) |net_income = $396 million USD (2019) | assets = $36.7 billion USD (2019) |homepage = www.pennmutual.com ::figure[src="https://upload.wikimedia.org/wikipedia/commons/6/68/Penn_Mutual_building.jpg" caption="The Penn Mutual Tower (1975, left), 1931 addition (center), and 1913 headquarters building (right, hidden behind trees)"] ::

::figure[src="https://upload.wikimedia.org/wikipedia/commons/4/41/Penn_Mutual_Life_Insurance_Company_entrance.jpg" caption="Penn Mutual entrance"] ::

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.

In 2024, Penn Mutual announced that the Penn Mutual Board of Trustees approved a record $265 million dividend award in 2025 to participating policyholders. Dividends are a key measure of a mutual company’s performance, and Penn Mutual's dividend history remains one of the strongest and most consistent in the industry. Concurrently, after 42 years, Penn Mutual sold its investment advisory division, Janney Montgomery Scott, to funds managed by private equity firm KKR & Co.

Buildings

Penn Mutual's original Philadelphia headquarters was erected in 1850–51 to designs by architect Gordon Parker Cummings, at the northeast corner of Third and Dock. The five-story building was the "first cast-iron building in Philadelphia, and one of the earliest cast-iron buildings in the nation." It was razed in 1956.

In 1860 the company moved into an existing building at 921–23 Chestnut that dated from 1810. In February 1889 the company moved out, temporarily, so that property could be cleared to prepare for a new edifice "to be as high as the Record cupola", the conspicuously tall Philadelphia Record tower standing immediately adjacent on Chestnut. "The new building will have a front of 77 feet on Chestnut street and will be nine stories in height, with a tower 17 feet square, which will reach to a height of 175 feet." (That 1889 building, with its subsequent additions, was ultimately destroyed and replaced by Paul Cret's Old Federal Reserve Bank Building in 1931.)

In 1916 Penn Mutual moved to an entirely new headquarters designed by Edgar Viguers Seeler, at the corner of Walnut and 6th Street. The 1916 building still stands. In 1931 the growing company built an equally boxy addition next door along Walnut, to the east, although the addition by architect Ernst J. Matthewson towered over the original with twenty stories of granite.

Then in 1971–75, the company dramatically expanded its floorspace again at the same site. The architects were Mitchell/Giurgola. Their Penn Mutual Tower project encompassed a third, higher modernist glass tower, the preservation and integration of the 1916 structure and the 1931 structure, and a move further east along Walnut which incorporated another unrelated historic property—but only as a facade, a freestanding scrim.

References

References

1. [https://fortune.com/fortune500/penn-mutual-life-insurance/ "Penn Mutual Life Insurance"]
2. "Annual Report". Penn Mutual.
3. "Consumer Information for Penn Mutual (2005)". [[National Association of Insurance Commissioners.
4. "The Penn Mutual Life Insurance Company".
5. "Penn Mutual to Sell Janney Montgomery Scott to KKR".
6. "Architectural Data Form". U.S. Dept. of Interior.
7. "Castner Scrapbook v.16, Companies 1, page 2".
8. (22 February 1889). "Another Big Chestnut Street Building". Philadelphia Times (via newspapers.com, subscription req'd).
9. (13 March 1889). "Site for the New Penn Mutual". Philadelphia Inquirer (via newspapers.com, subscription req'd).
10. "Philadelphia's Victorian Architecture (pdf)".
11. (1 January 1998). ["The Architecture of Additions Design and Regulation"]({{Google books). W. W. Norton & Company.
12. That building had its own history as the Pennsylvania Fire Insurance Company Building, 508–10 Walnut Street, designed by [[John Haviland]] in 1838 originally with four stories, three bays, and the [[winged sun]]s and papyrus-leaf-column decorations of [[Egyptian Revival architecture
13. {{Philadelphia Architects and Buildings. Penn Mutual Tower

::callout[type=info title="Wikipedia Source"] This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page. ::