Pan-American Life Insurance Group Completes Merger of Mutual Trust Life Insurance Company into Pan-American Life Insurance Company
January 9, 2023 by Pan-American Life Insurance Group
NEW ORLEANS–(BUSINESS WIRE)–Pan-American Life Insurance Group (PALIG), a leading provider of life, accident and health insurance throughout the Americas, today announced that it has completed the merger of Mutual Trust Life Insurance Company®, a Pan-American Life Insurance Group Stock Company, into Pan-American Life Insurance Company (PALIC) as a fully integrated division named Mutual Trust Life Solutions, effective December 31, 2022.
“This consolidation 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. “The full integration of Mutual Trust solidifies Louisiana-domiciled Pan-American Life Insurance Company’s market leadership position with increased scale, greater financial strength, a sterling ratings profile and enhanced growth opportunities.”
As a fully integrated division of Pan-American Life, Mutual Trust Life Solutions 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 remains in New Orleans, Louisiana and Bruce Parker, President for Global Life continues to lead PALIG’s Life business. Geri Gaughan, will continue to lead Mutual Trust Life Solutions as President and Chief Operating Officer. Luke Cosme, 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, 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.
Marta C. Reeves
Pan-American Life Insurance Group