July 23, 2014 1:05 AM ET


Company Overview of Pan-American Life Insurance Group, Inc.

Company Overview

Pan-American Life Insurance Group, Inc., along with its subsidiaries, provides insurance and financial services in the Americas. The company provides life insurance products, including universal life, term life, and annuity insurances; and health insurance products, such as individual, group, discount medical, and personal accident insurances. It also offers various employee benefit solutions, including compliant, limited benefit indemnity, medical stop loss, supplemental coverage, dental, vision, pharmacy, group term life, and medical accident expense with accidental death and dismemberment solutions, as well as a group voluntary life insurance plan. The company offers its products and solu...

601 Poydras Street

New Orleans, LA 70130

United States



Key Executives for Pan-American Life Insurance Group, Inc.

Chairman of the Board
Age: 58
Chief Financial Officer and Executive Vice President
Senior Vice President and President - Pan-American Private Client - International Major Medical Insurance
Chief Investment Officer and Senior Vice President
Senior Vice President
Compensation as of Fiscal Year 2014.

Pan-American Life Insurance Group, Inc. Key Developments

Pan-American Life Insurance Group Appoints Miguel Sierra as Country Manager of Operations in Mexico

Pan-American Life Insurance Group appointed Miguel Sierra as country manager of the company's operations in Mexico. Sierra, CEO and managing director for Pan-American Life's Caribbean business since 2012, previously served as the president and CEO in the Colombia and Ecuador markets for the Swiss insurance group ACE.

Pan-American Life Insurance Group Appoints Alex S. Rizo as Vice President, Accident and Health

Pan-American Life Insurance Group (PALIG) announced the appointment of Mr. Alex S. Rizo as Vice President, Accident and Health. The newly created position reflects Pan-American Life's intent to expand its Accident and Health product offering in both domestic and international markets. As Vice President, Accident and Health, Rizo's key responsibilities will be to oversee operations, sales and product development for the Accident and Health lines of business in all of the jurisdictions that Pan-American Life currently operates in. Rizo's previous professional experience includes his 22-year tenure with American International Group (AIG), during which time he worked across Latin America, notably in Chile, Colombia, Panama and Uruguay. Most recently he served as the Executive Director and Vice President, Consumer Division Head in Mexico.

Pan-American Life Insurance Group Announces Earnings Results for the Full Year Ended December 31, 2013

Pan-American Life Insurance Group announced earnings results for the full year ended December 31, 2013. For the year, the company's revenues grew 17.5% to $653.7 million, while GAAP pre-tax operating earnings increased by 107% to close the year at $56 million. Excluding one-time acquisition-related charges in both 2012 and 2013, pre-tax operating earnings grew $16 million or 34.5% in 2013. Revenue gains were primarily attributable to continued strong growth both in the Latin America markets where Pan-American Life Insurance Group operates and the new markets from the acquisition of MetLife's Algico/Alico operations in the Caribbean, Panama, and Costa Rica. Net income for the year was $53 million compared to $24 million in 2012, reflecting strong operating results in all segments, investment gains and a positive variance of $13.2 million in one-time acquisition-related expenses.

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