William Penn Life
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Mary Martin
Published Legal Expert
Mary Martin has been a legal writer and editor for over 20 years, responsible for ensuring that content is straightforward, correct, and helpful for the consumer. In addition, she worked on writing monthly newsletter columns for media, lawyers, and consumers. Ms. Martin also has experience with internal staff and HR operations. Mary was employed for almost 30 years by the nationwide legal publi...
Published Legal Expert
UPDATED: Aug 20, 2020
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Company Overview:
Company History: William Penn Life Insurance Company was founded in 1963 in New York. The company was acquired as a subsidiary by ITT Hamilton Life Insurance Company in 1967, then again by Maiden Lane Life Insurance Company (subsidiary of Continental Corp) in 1983. Continental Corp gained full ownership 2 years later, only to be purchased by Banner Life Insurance Company (subsidiary of Legal & General Group PLC) in 1989. Now William Penn has an investment portfolio that consists of 92% investment grade assets, including 18% U.S. government and U.S. agency holdings; commercial Mortgage Backed Securities holdings, of which 83% rated A or above with 76% rated AAA; and Asset Backed Securities holdings, of which 93% are rated A or higher. The company employees 300 people.
Principle Sales Methods: Independent agents and brokers who work in New York
Life Annuity Business: Company offers Universal and Term Life.