Press Releases
Pan-American Life Included in Hispanic Business 500; Company Ranks 26th in the U.S., First in Louisiana
NEW ORLEANS 6/15/2006 12:00:00 AM
NEW ORLEANS--(BUSINESS WIRE)--June 15, 2006--Pan-American Life Insurance Company has been recognized as one of the top 500 Hispanic businesses in the United States by Hispanic Business in the magazine's annual business directory. Pan-American is ranked 26th in the nation, first among Louisiana businesses, and third among financial companies.
"Pan-American Life has been committed to the Hispanic community since our inception in 1911," said President and CEO Jose S. Suquet. "From our policyholders to our management team, we are rooted in the Hispanic tradition and proudly acknowledge this strength as a key differentiator in the industry."
Three key areas of Pan-American Life's business structure demonstrate its connection to the Hispanic market: 54 percent of the company's senior management, more than 50 percent of its employees, and approximately 60 percent of its policyholders are Hispanic.
The company operates in the United States, Puerto Rico and six Latin American countries, where it insures thousands of lives and currently has $1.6 billion in assets under management.
This year marks the 24th anniversary of the Hispanic Business 500, a directory that has served as a barometer of the U.S. Hispanic economy. Companies are selected based on overall business operations, ownership information and financial data. Since the directory first appeared with only 400 companies in 1983, its tally of revenues has increased seven-fold and only twice have the numbers dipped from the previous year.
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 services since 1911, employing more than 700 worldwide, providing top-rated life and health insurance, worksite benefits and financial services in 47 states, the District of Columbia (DC) and Puerto Rico. 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, Panama, Puerto Rico, and the Cayman Islands. For more information, visit the Pan-American Life Web site at www.panamericanlife.com
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