Toran to retire as COO of Penn Mutual

Daniel J. Toran, president and chief operating officer of the Penn Mutual Life Insurance Co., will retire at the end of this year. A 37-year veteran of the life insurance industry, Mr. Toran, 59, spent 12 years with the Horsham, Pa.-based company. He joined in 1996 as executive vice president, rising to the ranks of president and chief operating officer in 1997. In this capacity, he concentrated on Penn Mutual’s distribution growth strategies and enhanced the company’s philosophy of the Producer Value Commitment program, which provided agents with home office service in nine critical areas. Robert E. Chappell, chairman and chief executive, will replace Mr. Toran as president, effective Jan. 1.