Jueves 18 de de Julio 2019

Pan-American Life Insurance Group Reports Record Revenues and Strong Earnings Growth

Revenues topped $1 billion for the first time, while operating
earnings and net income grew more than 30 percent versus prior year

NEW ORLEANS–(BUSINESS WIRE)–Pan-American Life Insurance Group (PALIG), a leading provider of
insurance and financial services throughout the Americas, announced
today financial results for the full year ending December 31, 2016.

For the first time in its history, PALIG saw revenue and total premium
exceed $1 billion. This reflects a 25.7 percent increase in revenue and
a 17 percent increase in total premium. GAAP pre-tax operating earnings
increased by 32.9 percent compared with 2015 to total $72.1 million. Net
income for 2016 increased 38 percent to $48.9 million, as compared to
$35.3 million the year before. Total assets for the Group grew to $5.6
billion, a 3.28 percent increase, while its total equity increased 10
percent to $933 million.

Each of the four key business segments made significant contributions to
the company’s overall revenue growth. Respectively they delivered the
following premium: International Life: $265 million; U.S. Life: $237
million; International Group: $326 million; U.S. Group: $237 million.
This distribution reflects a healthy balance in the company’s portfolio
by line of business as well as by geographic footprint – the Life
business represents 47 percent of premium with Group business
representing 53 percent; and the United States represents 45 percent of
premium while international business accounts for 55 percent.

“2016 marked the beginning of a new chapter in Pan-American Life’s
history. Thanks to more than a decade of careful strategic planning,
excellent execution and an unwavering commitment to delivering peace of
mind to our policyholders, we are now a billion dollar company,” said
José S. Suquet, Chairman of the Board, President and CEO of Pan-American
Life Insurance Group. “Our sustained top and bottom line growth
positions us to continue strengthening our legacy across the Americas in
2017 and beyond.”

About Pan-American Life Insurance Group
Life Insurance Group is a leading provider of insurance and financial
services throughout the Americas that has been delivering trusted
financial services since 1911. The New Orleans-based Group is comprised
of more than twenty member companies, employs more than 1,700 worldwide
and offers top-rated individual and/or group life, accident and health
insurance, employee benefits and financial services in 49 states, the
District of Columbia (DC), Puerto Rico, the U.S. Virgin Islands, and
throughout Latin America and the Caribbean. The Group has branches and
affiliates in Costa Rica, Colombia, Ecuador, El Salvador, Guatemala,
Honduras, Mexico, Panama, and 13 Caribbean markets, including Barbados,
Cayman Islands, Curacao and Trinidad and Tobago. For more information,
visit the Pan-American Life Web site at
follow us on Twitter @PanAmericanLife, and connect with us on LinkedIn
at Pan-American Life Insurance Group.


Pan-American Life Insurance Group
Marta C. Reeves, 504-566-3112
Abislaiman, 305-520-9017