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Pan-American Life Insurance Ratings and Company Information
Best Insurance Reports: A
Url of page where rating was collected:
Best Rating: A.M. Best rating: A (excellent)
Fitch: A (Strong)
Type of Insurance Company: Mutual
Name of Parent Company:
Pan-American Greenwood International
Pan-American Life Insurance Group
Pan-American Private Client
Risk Solution Resources, LLC
Pan-American Benefits Solutions, Inc.
Pan-American Life Insurance Company of Trinidad and Tobago
Company History: Pan-American Life Insurance was founded in 1911 by Crawford H. Ellis. The company began selling insurance internationally in 1913. In 1961 Ellis resigned as President and was replaced by John Ruddock. Jose Sequet assumed ownership of the company in 2004, making him the first Hispanic president Pan-American Life ever had. This year Hispanic Business ranked Pan-American as the 11th largest Hispanic company in the U.S. The company now employs over 1,400 people, insures over 1 million customers, and serves 22 countries. In 2013, the company acquired MetLife's Algico/Alico operations in the Caribbean, Panama, and Costa Rica.
Principle Sales Methods: Career and independent agents and brokers.
Life Annuity Business: Pan-American Life offers Universal and Term Life policies for individuals. The company also offers group life, medical, and/or pension packages that are able to be customized and executive benefit plans, a variety of annuity products, and a group pension program.
Health Business: Pan-American Life offers Individual and Group health plans along with international major medical coverage, multinational solutions, and medical stop loss coverage for companies in the U.S. and Latin America.
Special Business: Pan-American offers personal, travel, blanket, student, medical, mass marketing, group accident, and occupational accident insurance.
Company Financial Status:
Assets & Premiums:
2013 Assets: $3+ billion
2013 Revenues: $653.7 million
2013 Total equity: $616 million
2013 Total revenues: $654 million
2013 Net income: $53 million
Lines of Insurance:
States licensed to sell insurance in:
AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VT, VA, VI, WA, WV, WI, WY