The Penn Mutual Tower (1975, left), 1931 addition (center), and 1913 headquarters building (right, hidden behind trees)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.[1][2]
Penn Mutual is headquartered in Horsham, Pennsylvania, just outside Philadelphia.[3]
Its subsidiaries include the brokerage firm Janney Montgomery Scott (acquired in 1982), which as of 2020 had $90 billion in assets under advisement for its clients.[4][5][6][7]
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.[8]
^"Penn Mutual Life Insurance"
^"Annual Report". Penn Mutual. Retrieved 2020-04-30.
^"Consumer Information for Penn Mutual (2005)". NAIC. Archived from the original on September 26, 2007. Retrieved 2007-01-06.
^Talati, Sonia (May 5, 2017). "Janney: Growing by Poking at Giants". Barron's.
^"About Us | Janney Montgomery Scott". Janney.com. Retrieved 2020-04-30.
^"About Us | Janney Montgomery Scott". Janney.com. Retrieved 2020-04-30.
^"Janney Montgomery Scott LLC"
^"Penn Mutual Settles Insurance Surplus Fund Suit for $110M". Law360. Retrieved 2020-04-30.
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from Philadelphia fans and its Pennsylvania-based title sponsorship, PennMutual Life Insurance Company, the CRC remained in Philadelphia until 2021,...
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as "income," regardless of whether that item is in fact income. See PennMutual Indemnity Co. v. Commissioner and Murphy v. Internal Revenue Serv. The...
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Sixteenth Amendment but also Article I, Sections 8 and 9." Similarly, in PennMutual Indemnity Co. v. Commissioner, the United States Court of Appeals for...
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