Pan-American Life
Pan-American Life Insurance Company began celebrating its 100th anniversary in March. The year-long anniversary celebration—A Century of Promises Kept—will be a tribute to all who have contributed to the success of the company.
Festivities began with a ceremonial employee and retiree event in late March at the InterContinental Hotel, and an anniversary gala scheduled for April 10, which will take place at the Roosevelt Hotel, featuring a tribute from the Louisiana Philharmonic Orchestra. At the gala, Pan-American Life will host a number of honored guests, including 380 international delegates.
Pan-American Life Insurance Group is a provider of insurance and financial services assisting nearly half a million customers throughout the Americas; employing more than 800 worldwide; and providing products in 47 states, the District of Columbia (DC) and Puerto Rico. Member companies offer individual and group insurance throughout Latin America, with branches and affiliates in Costa Rica, Colombia, Ecuador, El Salvador, Guatemala, Honduras, Panama, Puerto Rico and the Cayman Islands.
Pan-American’s heritage originated at sea during the transportation of produce to the United States from Central and South America. It was there that Crawford H. Ellis, a native of New Orleans, got to know the people and cultures of those countries—and there that he realized the need for insurance protection for both the workers and merchants of those goods.
Ellis began his career as a bookkeeper with the United Fruit Company in New Orleans and, by the age of 26, was responsible for more than 25 ships that brought fruit into that city’s port. In 1911, he joined forces with Dr. Edward G. Simmons, an expert in life insurance; Dr. Marion Souchon, a renowned surgeon and physician; and Eugene J. McGivney, a corporate lawyer, to create a life insurance company that served the needs of Central and South America, as well as the United States. In March 1912, Pan-American Life issued its first life insurance policy.
Today, Pan-American Life Insurance Group is a strong, established company with more than $2.2 billion in total assets and $521 million in GAAP equity. With the direction of Chairman, President and CEO José S. Suquet, who in 2004 became the first Hispanic to lead the company, Pan-American Life has been restructured to refocus on its core business in Latin America and the U.S. Hispanic market.
