Penn Mutual How to Upload a Document Onto Insight
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| Type | Mutual |
|---|---|
| Industry | Life Insurance and Annuities |
| Founded | 1847 (1847) |
| Headquarters | Horsham, Pennsylvania, United States |
| Key people | David O'Malley, President and CEO |
| Acquirement | $3.7 billion USD (2019) |
| Net income | $396 one thousand thousand USD (2019) |
| Full assets | $36.vii billion USD (2019) |
| Number of employees | iii,140 (2019) |
| Website | www.pennmutual.com |
The Penn Mutual Tower (1975, left), 1931 addition (center), and 1913 headquarters building (right, hidden behind trees)
The Penn Common Life Insurance Company, ordinarily referred to as Penn Mutual, was founded in Philadelphia, Pennsylvania, in 1847. It was the seventh mutual life insurance company chartered in the The states. As of 2019, it had three,140 employees, $iii.7 billion in acquirement, and $36.7 billion in avails.[1] [2]
Penn Mutual is headquartered in Horsham, Pennsylvania, merely outside Philadelphia.[3]
Its subsidiaries include the brokerage firm Janney Montgomery Scott (acquired in 1982), which as of 2020 had $ninety billion in avails nether advisement for its clients.[four] [v] [half-dozen] [7]
In 2017, Penn Mutual settled a lawsuit against it for $110 million, in which policyholders had charged that the visitor had improperly withheld surplus funds, rather than distribute them as dividends.[8]
Buildings [edit]
Penn Common's original Philadelphia headquarters was erected in 1850–51 to designs past architect Gordon Parker Cummings, at the northeast corner of Third and Dock.[9] [ten] The five-story building was the "outset cast-iron building in Philadelphia, and 1 of the earliest cast-fe buildings in the nation." [9] It was razed in 1956.
In 1860 the company moved into an existing building at 921-23 Anecdote that dated from 1810.[11] In February 1889 the company moved out, temporarily, then that property could be cleared to prepare for a new edifice "to be as high every bit the Record cupola", the clearly tall Philadelphia Record tower standing immediately next on Chestnut.[12] "The new edifice will have a front of 77 feet on Chestnut street and will exist nine stories in height, with a belfry 17 feet foursquare, which volition reach to a pinnacle of 175 feet."[eleven] The architect was Theophilus P. Chandler Jr.[xiii] (That 1889 edifice, with its subsequent additions, was ultimately destroyed and replaced by Paul Cret'south Old Federal Reserve Banking company Building in 1931.)
In 1916 Penn Common moved to an entirely new headquarters designed by Edgar Viguers Seeler, at the corner of Walnut and sixth Street. The 1916 building however stands. In 1931 the growing visitor congenital an equally boxy addition adjacent door along Walnut, to the eastward, although the improver by architect Ernst J. Matthewson towered over the original with twenty stories of granite.[xiv]
So in 1971–75, the visitor dramatically expanded its floorspace again at the same site. The architects were Mitchell/Giurgola. Their Penn Mutual Tower projection encompassed a tertiary, higher modernist glass tower, the preservation and integration of the 1916 structure and the 1931 construction, and a move further due east along Walnut which incorporated another unrelated celebrated holding—but only as a facade, a freestanding scrim.[14] That building had its own history as the Pennsylvania Fire Insurance Visitor Building, 508-10 Walnut Street, designed by John Haviland in 1838 originally with four stories, three bays, and the winged suns and papyrus-leaf-column decorations of Egyptian Revival. These 3 trophy had been duplicated, and the cornice constructed, by Theophilus P. Chandler Jr. in 1902.[fourteen] The tower won an American Institute of Architects Honour Award in 1977.[fifteen] [16]
See besides [edit]
- Mutual Life Insurance Visitor
References [edit]
- ^ "Penn Mutual Life Insurance"
- ^ "Annual Study". Penn Mutual. Retrieved 2020-04-thirty .
- ^ "Consumer Information for Penn Common (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 .
- ^ "Most 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 .
- ^ a b "Architectural Data Grade" (PDF). Historic American Buildings Survey. U.S. Dept. of Interior. Retrieved 17 October 2020.
- ^ "Castner Scrapbook five.16, Companies 1, page 2". Gratis Library of Philadelphia . Retrieved 17 October 2020.
- ^ a b "Another Big Anecdote Street Building". Philadelphia Times (via newspapers.com, subscription req'd). 22 Feb 1889. Retrieved 17 October 2020.
- ^ "Site for the New Penn Mutual". Philadelphia Inquirer via newspapers.com (sub req'd). xiii March 1889. Retrieved 17 October 2020.
- ^ Harbeson, John. "Philadelphia's Victorian Architecture (pdf)". journals.psu.edu . Retrieved 17 Oct 2020.
- ^ a b c Byard, Paul Spencer (1 Jan 1998). The Compages of Additions Design and Regulation. W.Westward. Norton & Company. p. 108. Retrieved 17 October 2020.
- ^ Gallery, John Andrew, ed. (2004), Philadelphia Compages: A Guide to the City (2nd ed.), Philadelphia: Foundation for Compages, ISBN0962290815 , p.122
- ^ "Penn Mutual Tower" on PhiladelphiaBuildings.org
External links [edit]
- Penn Mutual official site
- Philadelphia Buildings
Source: https://en.wikipedia.org/wiki/Penn_Mutual
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