Press Releases & Company News

Penn Mutual Announces the Appointment of Melissa Ballenger to the Penn Mutual Board of Trustees

PHILADELPHIA, PA – May 15, 2025 – The Penn Mutual Life Insurance Company (Penn Mutual) is pleased to announce the appointment of Melissa Ballenger to its distinguished Board of Trustees. Ballenger brings extensive leadership experience, spanning more than three decades in global financial services, technology and public accounting, to serve in this key governance role for the Penn Mutual enterprise.

Most recently, Ballenger was Chief Financial Officer of Mosaic, a financial technology platform for sustainable home improvements. Previously, she was a financial services executive, including Chief Financial Officer roles at the global public firms State Street (in EMEA), Santander Bank and TD. She also served as Principal Accounting Officer and Controller at Mastercard.

Ballenger is credentialed as a Certified Director by the National Association of Corporate Directors (NACD). She has provided strategic advice to multiple Boards of Directors, informing their governance over critical corporate priorities in a variety of environments. Her executive scope includes strategic and financial planning and execution, capital markets and treasury management, operational efficiency and risk management, and M&A.

A Certified Public Accountant, Ballenger began her career as an auditor at Arthur Andersen. She graduated summa cum laude from the College of William & Mary with a bachelor’s degree in Business Administration – Accounting.

“Building on our foundation of financial strength and our core commitment to mutuality, our Board of Trustees act in the service of our policyholders, guiding Penn Mutual’s future,” said Dave O’Malley, Chairman, President and CEO. “Our Trustees represent a variety of industries and bring unique expertise that is invaluable in supporting Penn Mutual’s strategic direction, while we maintain an unwavering focus on making decisions that best serve our Financial Professionals and policyholders. We appreciate their dedicated service to Penn Mutual.”

View a complete listing of our Board of Trustees on PennMutual.com. Ballenger’s appointment is effective as of April 2025.

About The Penn Mutual Life Insurance Company
For over 175 years, Penn Mutual has empowered individuals, families and businesses on the journey to achieve their financial goals. Through our partnership with Financial Professionals across the U.S., we help instill the confidence and reliability that comes from a stronger financial future. Penn Mutual and its affiliates offer a comprehensive suite of competitive products and services to meet the unique needs of Financial Professionals and their clients, including life insurance, annuities, wealth management and institutional asset management. To learn more, including current financial strength ratings, visit www.pennmutual.com.

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Contact:
Stephanie Kensy
Penn Mutual
215-956-8337
corporatecommunications@pennmutual.com

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