1 Feb 2024
Pan-American Life Inaugurates its Modern Offices in Santa Maria Business District
Panama City, Panama – February 1, 2024 Pan-American Life Insurance Group, a leading provider in Life, accident, and health with over 110 years of presence in Panama, is solidifying its local presence with a new chapter in its history. It has inaugurated its new corporate offices in the Santa Maria Business District, as part of its commitment to continue offering solutions to simplify and enhance the experience of protection for more families and companies in Panama and the region.
Robert DiCianni, President, Global Benefits, is visiting the country to commemorate this new chapter and says “the opening of these modern corporate offices not only represents a physical change of location, but another confident step towards the future and a major milestone in the company’s history, which has made the Group’s Panamanian operation its largest worldwide.”
DiCianni explains, “Pan-American Life established its Regional Hub in Panama in 2008. Now, in its new offices, it will continue to play a key role by working closely with the company’s operations in 21 countries in Latin America and the Caribbean.”
Investment in high-end technology and infrastructure
The new headquarters for Panama offers a unique working environment that prioritizes comfort and collaboration. It seeks to redefine the work experience for its strategic partners, employees, and insureds.
“Every corner has been strategically designed to enhance the service experience and the synergy of ideas, creating an environment where excellence and innovation constructively converge,” said the executive.
DiCianni also emphasized the company’s central role in the history and growth of the Panamanian insurance industry. For over a century, the company has stood out for its strength, its profitability, and its contribution to the country’s development. Today, it is the #1 Insurer in Panama in Corporate Health Policies, according to data from the Insurance and Reinsurance Bureau of Panama as of the end of 2023.
Major projects for 2024
Pan-American Life’s financial strength is a crucial foundation for its future. It ensures stability in the present and will be a driving force for innovation and efficiency in the years to come.
Tony Eleta, PALIG Panama Country Manager, emphasized that 2023 showed important signs of recovery in the insurance sector, which grew faster than the country’s gross domestic product.
“For Pan-American Life, these results are proof of our legacy and our financial strength, which have allowed the company to maintain an 18 percent market share in personal insurance with more than $152 million in written premiums. In health insurance, we have a 25 percent market share and are ranked #1. And with a 35 percent market share in Group Medical, we have over 1,000 corporate clients that can testify to our philosophy: Providing security and wellbeing to thousands of Panamanians.”
“2024 will be the ideal opportunity to kick start our operational processes, expand distribution, and provide solutions to customers and strategic partners in order to maintain our sustained growth,” said Eleta.
Penetration in non-traditional insurance segments for small businesses will also be very important. In addition, the company will promote sales of individual and corporate Personal Accident products, group insurance for employees, and wellness solutions for local and multinational businesses.
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 affiliates and branches 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, follow us on Facebook @PanAmericanLife, Twitter @PanAmericanLife, Instagram @panamericanlife.latam, and connect with us on LinkedIn at Pan-American Life Insurance Group.