The Penn Mutual Life Insurance Company (Penn Mutual) is pleased to announce the promotion of David O’Malley to president and chief operating officer (COO), effective January 1, 2016. Over the last 21 years, O’Malley -- who started his career as a Drexel University co-op student in the company’s investment department -- has shown exceptional dedication, delivers profoundly successful results and has been instrumental in the firm’s growth.

Upon graduation from Drexel in 1994, O’Malley’s work ethic and performance fast-tracked him to a full-time role at Penn Mutual, where over the next few years, he was responsible for overseeing fixed income portfolios and managing various sectors of the bond portfolio. His first major appointment came in 2006, when he was named chief risk officer.

His impressive rise continued just a year later, when he was promoted to senior vice president, overseeing the development of the firm’s life insurance and annuity product portfolio. In 2013, he took on the responsibility of chief operating officer.

"Dave has been integral to our success, and is one of the reasons for my optimism about our company’s future," says Eileen McDonnell, chairman and chief executive officer of Penn Mutual. "His inspiring ascent from intern to president and COO is telling of his hard work and dedication to our company and what we stand for. We are thrilled to welcome him as Penn Mutual’s 19th president, and I look forward to our continued partnership in growing Penn Mutual."

O’Malley’s collaborative leadership skills, expertise and results-driven determination have helped strengthen teams in many areas of the company, and ultimately the business, returning value to Penn Mutual’s policyholders.

"Looking back since the start of my career, the meaningful relationships that I have formed, the mentors that have helped to push me along, and the culture at Penn Mutual have been significant factors in my development," says O’Malley.

Since 1847, Penn Mutual has been driven by our noble purpose to create a world of possibilities. At the heart of this purpose is the belief that purchasing life insurance is the most protective, responsible and rewarding action a person can take, and is central to a sound financial plan.

The company is committed to helping families unlock life’s possibilities through life insurance and annuity solutions. This is accomplished through a national network of financial professionals, who help clients make great things possible.