NEW ORLEANS, June 16 /PRNewswire-HISPANIC PR WIRE/ — Pan-American Life Insurance Company climbs to the 10th position in the 28th annual ranking of the Hispanic Business 500, a list of the largest Hispanic businesses in the United States, from number 16 in 2009. Additionally, in the Finance Sector, Hispanic Business Magazine ranked the company #2 among the top 10 Hispanic companies.
“Pan-American Life Insurance has remained committed to a steady and strong growth strategy. We are uniquely positioned to address the needs of Hispanics in the U.S., a competitive advantage across niche areas of individual and group life and health offerings,” said Chairman of the Board, President and CEO Jose S. Suquet. “Our recent rating upgrade to A from A.M. Best is a testament to our performance and more importantly to how our stability and strength position us positively for continued growth in the Hispanic market. We are equally grateful for the collaborative efforts of our employees and partners, and for the confidence of Hispanic policyholders whose life and health we protect.”
Today, 64 percent of the company’s senior management team, and more than 70 percent of the overall company employees are Hispanic. Additionally, 63 percent of the company’s policyholders reside in Latin America or are of Hispanic origin.
In 2009, Pan-American Life grew its revenues by 5.6 percent to $423 million over the previous year. Total assets reached $2.2 billion and total capital $468 million.
Since 1979, the Hispanic Business 500 has served as a barometer of the U.S. Hispanic economy and of the leading Hispanic businesses in the country.
About Pan-American Life
The Pan-American Life Insurance Group is a leading provider of insurance and financial services serving nearly half a million customers throughout the Americas. New Orleans-based Pan-American Life Insurance Company, the Group’s flagship member, has been delivering trusted financial products and services since 1911, employing more than 700 worldwide, providing top-rated life and health insurance, worksite benefits and financial services in 47 states and the District of Columbia (DC). The Group’s member companies offer individual and/or group life and health insurance throughout Latin America. The Group has branches and affiliates in Puerto Rico, Colombia, Ecuador, El Salvador, Guatemala, Honduras, Panama, and the Cayman Islands. For more information, visit the Pan-American Life Web site at http://www.panamericanlife.com
SOURCE Pan-American Life Insurance Group