Pan-American Life Insurance
Pan-American Life Insurance is one of the largest Hispanic businesses in the U.S. and it insures over one million customers in 22 countries. Pan-American is a provider of insurance that is sold primarily through career and independent agents, and the company offers individual and group life, medical, and pension packages. Learn more in our Pan-American Life Insurance company overview below.
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UPDATED: Jun 4, 2021
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2013 Assets: $3+ billion2013 Revenues: $653.7 million2013 Total equity: $616 million2013 Total revenues: $654 million2013 Net income: $53 million
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Company History: The Pan-American Life Insurance group 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.