The Penn Mutual Life Insurance Company (Penn Mutual) and M Financial Group have formed a new specialty carrier relationship.
Image: Penn Mutual Life Insurance’s office building. Photo: Courtesy of Bruce Andersen/Wikipedia.org.
The partnership will make Penn Mutual the primary provider of whole life insurance for M Financial.
M Financial is one of the largest independent financial services design and distribution networks serving the affluent and corporate markets through an exclusive network of more than 145 member firms.
Penn Mutual president and chief operating officer David O’Malley said: “Penn Mutual is excited to partner with an organization that shares our philosophy that life insurance is a foundational element of a successful financial plan.
“M Financial has a tremendous track record of possessing advisers that solve client objectives.”
While Penn Mutual has working relationships with other industry distribution leaders, the new partnership enhances Penn Mutual’s access to the affluent market for life insurance. At the same time, Penn Mutual’s inclusion will bolster M Financial’s existing financial services portfolio.
M Financial M Benefit Solutions president and Private Client and Benefit Solutions, vice president Andy Graves said: “We’ve seen a growing demand and heightened interest from our Member Firm’s to explore new solutions. This distribution partnership with Penn Mutual gives our Member Firms access to additional competitive solutions that our clients seek in today’s environment.”
Source: Company Press Release