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September 5, 2023
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January 1, 2023
Pan-American Life Insurance Group Announces Merger of Mutual Trust Life Insurance Company into Pan-American Life Insurance Company
Fully Integrated Division to be Named Mutual Trust Life Solutions
January 1, 2023 – New Orleans, LA—Pan-American Life Insurance Group (PALIG), a leading provider of life, accident and health insurance throughout the Americas, today announced that Mutual Trust Life Insurance Company®, a Pan-American Life Insurance Group Stock Company, was merged into Pan-American Life Insurance Company (PALIC) as a fully integrated division to be named Mutual Trust Life Solutions.
“This move further strengthens our position as a premier life, accident and health insurance provider in the Americas,” said José S. Suquet, Chairman of the Board and CEO of Pan-American Life Insurance Group. “As a result of this merger, the Louisiana domiciled Pan-American Life Insurance Company has become a larger organization with greater financial strength, a sterling ratings profile and enhanced growth opportunities.”
Mutual Trust will continue to operate from its existing offices in Oak Brook, Illinois, with no resulting changes to distribution channels or product portfolio. The global headquarters of Pan-American Life will remain in New Orleans, Louisiana and Bruce Parker, President for Global Life will continue to lead PALIG’s Life business. Mutual Trust’s current President and Chief Operating Officer, Geri Gaughan, will continue to lead Mutual Trust Life Solutions. Luke Cosme, current Senior Vice President Sales and Marketing will continue to lead the sales organization.
ABOUT PAN-AMERICAN LIFE INSURANCE GROUP
Pan-American Life Insurance Group (PALIG), a leading provider of life, accident and health insurance 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 2,100 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 website at palig.com, like us on Facebook
@PanAmericanLife, follow us on Twitter @PanAmericanLife, and connect with us on LinkedIn at Pan-American Life Insurance Group.
Contacts
Marta C. Reeves
Pan-American Life Insurance Group
MReeves@palig.com
Isabel Abislaiman
FleishmanHillard
isabel.abislaiman@fleishman.com
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