Navigation Links
Pan-American Life Insurance Group Plans to Complete Coverage in Central America With Entry Into Costa Rica; Company Files Request for Authorization
Date:9/30/2009

NEW ORLEANS, Sept. 30 /PRNewswire/ -- Pan-American Life Insurance Group (PALIG), a leading provider of insurance and financial services, announced today that the company has filed a request for authorization to enter the Costa Rican Market.

"Pan-American Life's 98-year history and the Group's experience throughout Latin America have played a fundamental role in this business development decision. Expansion into Costa Rica is a natural step that supports the company's geographic expansion and regional strategic plan," said Jose S. Suquet, Chairman of the Board, President and CEO of Pan-American Life. "As an insurance industry leader in the region, ranked number 1 by collective market share in life and health insurance, entry into Costa Rica will complete our total coverage in the region - while underscoring our commitment to Central America."

Costa Rica's insurance market recently approved a new law authorizing private competition. It is currently Central America's second largest insurance market behind Panama, where Pan-American Life has had operations since 1912. Pan-American Life also has offices and affiliates in Honduras (1944), Guatemala (1914) and El Salvador (1911); and a strategic alliance with a leading insurance provider in Nicaragua to accommodate multinational clients.

"The Costa Rican insurance market is ready for substantial expansion," said Eugenio Magdalena, Executive Vice President of International Markets, Pan-American Life. "The growth potential is overwhelmingly evident when considering that Costa Rica's close neighboring personal insurance market, Panama, is almost four times greater in terms of premiums, even though both countries per capita GNP are similar, with Costa Rica roughly having one million people more than Panama."

Upon receipt of authorization from the Superintendencia General de Seguros - Costa Rica's equivalent of the Insurance Commissioner's Office, Pan-American Life has plans for preparation and filing of a customized portfolio of products, including individual life and health insurance, as well as group life, accident and health insurance.

About Pan-American Life Insurance Group

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 insurance company member, has been in business 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. Its international operations, offering individual and group life and health insurance throughout Latin America, includes affiliates in Panama, Guatemala, Cayman Islands and Colombia, and branch offices in Ecuador, El Salvador and Honduras. For more information, visit the Pan-American Life Web site at www.panamericanlife.com

SOURCE Pan-American Life Insurance Group


'/>"/>
SOURCE Pan-American Life Insurance Group
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Texas Doctor Files Case Pro Se in U.S. Supreme Court Against Insurance Giant on Integrity and Unethical Practices
2. Open Letter to Congress on Long Term Care Insurance and Health Care Reform
3. Rate Regulation for Health Insurance: Biden, Obama Administration Should Look to CAs Model Law Which Has Saved Drivers $62 Billion Since 1988
4. Healthcare Reform Must Include Full Participation by Licensed Professional Insurance Agents
5. Democratic Governors Urge Congress to Act on Health Insurance Reform
6. 45,000 excess deaths annually linked to lack of health insurance: Harvard study
7. HTH Worldwide Introduces Trip Protection Insurance With Major Medical Benefits
8. Regence BlueShield Receives Top Marks in Insurance Survey
9. Timothy L. Culvers New Book, Saras Story, Describes His Wifes Recovery and Battles with Health Insurance Companies
10. Lack of Insurance to Blame for Almost 45,000 Deaths: Study
11. Allied Worlds Nicole Baummer to Speak on Panel at National Employment Practices Liability Insurance ExecuSummit
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/22/2017)... ... March 22, 2017 , ... Influence Health, the ... solutions have enabled Children’s Hospital of The King’s Daughters (CHKD) to achieve a ... value of a digital marketing approach, the 206-bed pediatric teaching hospital in Norfolk, ...
(Date:3/22/2017)... (PRWEB) , ... March 22, 2017 , ... An intensive ... could occasionally transmit HIV, reports Leslie Norins, MD, PhD. He says investigating ... of domestically transmitted Zika virus and in new infections with HIV. , ...
(Date:3/22/2017)... Providence, RI (PRWEB) , ... March 22, 2017 ... ... Dr. Gwynne Bragdon to its Department of Orthopedic Surgery, Division of Hand, Upper ... extremity and orthopedic surgery. She is board-certified in both Orthopedics and Hand ...
(Date:3/22/2017)... ... March 22, 2017 , ... Last year, 43 million gallons ... Department of Agriculture report. While excess dairy can be caused by several factors, ... sensitivity is the inability to properly digest lactose, a sugar found in milk and ...
(Date:3/22/2017)... ... March 22, 2017 , ... The Carballo ... Jersey and the New York metropolitan region, is embarking on a cooperative charity ... families. , At present, more than two and a half million children in ...
Breaking Medicine News(10 mins):
(Date:3/22/2017)... 22, 2017 TapImmune, Inc. ... the development of innovative peptide and gene-based immunotherapeutics ... today announced that it will participate in two ... Glynn Wilson , Chairman and CEO of ... business, clinical pipeline and partnering opportunities for its ...
(Date:3/22/2017)... -- Piramal Pharma Solutions (PPS), a leading ... event to introduce the new and expanded manufacturing capabilities ... . The inaugural event was attended by Governor ... and Piramal Pharma Solutions CEO, Vivek Sharma . ... ...
(Date:3/22/2017)... March 22, 2017 A new independent ... is the proven ultraviolet-C (UV-C) disinfection solution of ... (HAIs). Published in the March ... Control , the peer-reviewed study of UV-C disinfection ... Vancouver General Hospital and Rochester General Hospital. According ...
Breaking Medicine Technology: