Pan-American Life Insurance Group is ranked at the number fifteen position in the 31st annual ranking of the HispanicBusiness 500, a list of the largest Hispanic businesses in the United States, moving up three spots since last year. Additionally, in the Finance Sector, HispanicBusiness Magazine ranked the company number two among the top 10 Hispanic companies and number one on the list of Louisiana based companies.
Pan-American Lifes increase in ranking in the HispanicBusiness 500 affirms our commitment to delivering trusted financial security to help meet the life and health insurance needs of our customers throughout the Americas, said Chairman of the Board, President and CEO, José S. Suquet. Steady growth in the Hispanic market accounted for 28 percent of new sales in 2012. The Hispanic community trusts that Pan-American Life is uniquely positioned to address their needs. This recognition is a testament to that confidence.
Today, 35 percent of the companys senior management team, and more than 70 percent of the overall company employees are Hispanic. Additionally, 67 percent of the companys policyholders are of Hispanic origin.
In 2012, Pan-American Life grew its revenues by 19 percent to $556 million over the previous year. Total assets reached $3 billion and total capital $588 million.
Since 1979, the HispanicBusiness 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 Insurance Group
The Pan-American Life Insurance Group is a leading provider of insurance and financial services 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 1,300 worldwide, providing top-rated life and health insurance, employee benefits and financial services in 47 states, the District of Columbia (DC), Puerto Rico, and the U.S. Virgin Islands. The Groups member companies offer individual and/or group life and health insurance throughout Latin America and the Caribbean. The Group has branches and affiliates in Costa Rica, Colombia, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Panama, and 15 Caribbean markets, including Barbados, Cayman Islands, Curacao and Trinidad and Tobago. For more information, visit the Pan-American Life Web site at palig.com.