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Pan‑American Life Insurance Group Completes Merger of Mutual Trust Life Insurance Company into Pan‑American Life Insurance Company
United States
January 02, 2023
Estimated Reading Time: 2m
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 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 (PALIG)
Pan‑American Life Insurance Group (PALIG) is a leading provider of life, accident, and health insurance, serving more than 7.3 million customers across the United States, Latin America, and the Caribbean. Founded in 1911 and headquartered in New Orleans, Louisiana, PALIG operates through over 30 member companies and 2,200 employees with a presence in 22 countries. Backed by a Financial Strength Rating of A (Strong) from Fitch Ratings and A (Excellent) from AM Best, PALIG offers top‑rated individual and group insurance products, along with employee benefits designed to support lifelong well‑being. Guided by a purpose — to be there when people need us most — PALIG is committed to delivering both financial protection and benefits solutions. Learn more about how they are people you can trust for life at palig.com.
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