Total assets at the end of 2024 stood at $48.16 billion, up from $46.74 billion a year earlier. Surplus rose to $4.3 billion from $3.3 billion. Penn Mutual reported paying $245.8 million in policyholder dividends in 2024, up from $188.7 million in 2023. For 2025, the company approved a $265 million dividend, which it said is the highest in its history, and raised the interest component of the dividend scale for whole life policies to 6%.
The expansion is a centerpiece of Lara’s “Sustainable Insurance Strategy,” a broad effort to stabilize California’s fractured insurance market amid mounting climate-related losses. In recent years, major carriers have pulled back from insuring properties in wildfire-prone regions, citing escalating claims and regulatory constraints. The FAIR Plan – intended as a backstop for those unable to…
In 2017, a district judge dismissed the DOJ’s claims, finding they did not meet necessary legal standards. However, in March 2025, a court-appointed special master recommended the case proceed to trial, stating that the DOJ’s evidence lacked substance. Source link
The plaintiffs, which included Travelers and a group of insurers affiliated with Philadelphia Indemnity, reimbursed their insureds for expenses following the breach, including costs of forensic investigations, legal counsel, constituent notifications, and credit monitoring. Their insureds—more than 100 nonprofit and educational organizations across 35 states and the District of Columbia—used Blackbaud’s software to manage donor…
In the latest edition of Insurance Business TV, join Daniel Mogelnicki, of Westfield Specialty, as he examines the state of the E&O and MPL market. In this interview he delves into the specific opportunities in MPL classes, and offers tips for brokers operating in the space. Source link
Charles Ferdin, managing partner, emphasized the opportunity to deepen engagement with Latino families, a key customer base for the firm. “As a Latino, the ability to offer financial protection and security to the Latino family is critical – PSLIC’s life insurance platform combined with our unique distribution strategy perfectly complements the wide array of mortgage…
