Pan-American Life Insurance Group came in at No. 18 on the 30th annual ranking of the HispanicBusiness 500, a list of the largest Hispanic enterprises in the U.S., the company announced today.
HispanicBusiness also ranked the insurance group at No. 2 among the top 10 companies in the finance sector and No. 1 on the list of Louisiana companies.
"Pan-American Life is uniquely positioned to address the needs of the Hispanic market in the U.S., a competitive advantage in the group and institutional areas," said Jose S. Suquet, chairman, president and CEO, Pan-American Life. "In 2011, we continued to experience growth in the Hispanic market with over 40 percent of new sales resulting from the category. ... We expect to continue our strong results through 2012 as we expand our partnerships with companies that have leading positions in providing services to the Hispanic community."
On the life side of the business, Pan-American Life is bringing value, added products and services to Hispanic middle-income parents. By focusing on this segment, Pan-American Life is providing Hispanic families with the tools which historically have been unavailable to them.
In 2011, Pan-American Life grew its revenues by 9.8 percent to $470 million over the previous year. Total assets reached $2.3 billion and total capital $538 million.
In its 30th anniversary year, the HispanicBusiness 500 has continually served as the source to turn to for the most relevant and valuable information regarding the Hispanic market. It provides companies the insight and focus needed to help achieve goals, expand business and make a difference in the community.
Pan-American is a leading provider of insurance and financial services serving nearly half a million customers throughout the Americas. It is based in New Orleans.
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