Pan-American Life Ranks in Top Twenty among the Top Hispanic Companies in the United States in the 2012 Hispanic Business 500
NEW ORLEANS, July 11, 2012 /PRNewswire/ -- Pan-American Life Insurance Group is ranked at the number eighteen position in the 30th annual ranking of the Hispanic Business 500, a list of the largest Hispanic businesses in the United States. Additionally, in the Finance Sector, Hispanic Business Magazine ranked the company number two among the top 10 Hispanic companies and number one on the list of Louisiana based companies.
Following a one hundred year old tradition, Pan-American Life Insurance Group has continued to see a steady and strong growth pattern in the past year. "Pan-American Life is uniquely positioned to address the needs of the Hispanic market in the U.S., a competitive advantage in the group and institutional areas," said Chairman of the Board, President and CEO, Jose S. Suquet. "In 2011, we continued to experience growth in the Hispanic market with over 40 percent of new sales resulting from the category. Our core PanaMed worksite product remained the driving force for increased sales and membership among this group. We expect to continue our strong results through 2012 as we expand our partnerships with companies that have leading positions in providing services to the Hispanic community." On the life side of the business, Pan-American Life is bringing value, added products and services to Hispanic middle income parents. By focusing on this segment, Pan-American Life is providing Hispanic families with the tools which historically have been unavailable to them.
Today, 51 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 are of Hispanic origin.In 2011, Pan-American Life grew its revenues by 9.8 percent to $470 million over the previous year. Total assets reached $2.3 billion and total capital $538 million.
In its thirtieth anniversary year, the Hispanic Business 500 has continually served as the source to turn to for the most relevant and valuable information regarding the Hispanic market. It provides companies the insight and focus needed to help achieve goals, expand business and make a difference in the community.
About Pan-American Life Insurance Group
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 services since 1911, employing more than 800 worldwide, providing top-rated life and health insurance, worksite benefits and financial services in 47 states, the District of Columbia (DC), Puerto Rico, and the U.S. Virgin Islands. The Group's member companies offer individual and/or group life and health insurance throughout Latin America. The Group has branches and affiliates in Costa Rica, Colombia, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Panama, and the Cayman Islands. For more information, visit the Pan-American Life Web site at palig.com.
SOURCE Pan-American Life Insurance Company
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