Press Releases
Pan-American Life Achieves Ranking as No.1 Business in Louisiana
NEW ORLEANS 7/10/2007 4:42:58 PM
For the second consecutive year, New Orleans-based insurance company
earns top ranking in Hispanic Business 500
NEW ORLEANS – July 9, 2007 – Pan-American Life Insurance Company has excelled for the second straight year in the Hispanic Business 500, the magazine’s annual business directory as the No.1 company in the state of Louisiana.
Additionally, the New Orleans-based insurance company held its 2005 ranking as 26th in the United States.
In the June issue, the magazine honored Pan-American Life as second among the top 10 companies in the finance sector –up from third in 2005.
“These rankings reflect the success of Pan-American Life’s committed corporate team in New Orleans, and our employees and agents throughout the U.S. and Latin America,” said President and CEO Jose Suquet.
Since November 2004, Suquet has enlisted seven new senior managers to reposition the company in the Americas. Today, 54 percent of the company’s senior management, more than 50 percent of its employees and 60 percent of its policyholders are Hispanics.
Pan-American Life had an 8.3 percent increase in revenues, growing from $242.27 million in 2005 to $262.43 million in 2006 while total assets reached $1.67 billion and total capital of $313 million, an all-time high.
This year marks the 25th 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.
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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