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Notice of Transfer of the insurance business of Pan‑American International Insurance Corporation to Pan‑American Life Insurance Company (Barbados) Inc
Sint Maarten
June 01, 2025
Estimated Reading Time: 3m
NOTICE OF INTENTION OF PAN‑AMERICAN INTERNATIONAL INSURANCE CORPORATION AND PAN‑AMERICAN LIFE INSURANCE COMPANY (BARBADOS) INC. TO MAKE AN APPLICATION FOR THE TRANSFER OF THE INSURANCE BUSINESS OF PAN‑AMERICAN INTERNATIONAL INSURANCE CORPORATION TO PAN‑AMERICAN LIFE INSURANCE COMPANY (BARBADOS) INC. '
PAN‑AMERICAN INTERNATIONAL INSURANCE CORPORATION, a company duly organized and existing under and by virtue of the Laws of Cayman Islands with its registered office at 23 Lime Tree Bay Avenue, Governor’s Square, Building 4, Floor 2, P.O Box 1051, Grand Cayman, KY1102, Cayman Islands, and registered as an external company under the Companies Act Cap. 308 of the Laws of Barbados, AND PAN‑AMERICAN LIFE INSURANCE COMPANY (BARBADOS) INC., a company incorporated under the Companies Act Cap. 308 of the Laws of Barbados with its registered office at Cheapside Road, Bridgetown, Barbados.
HEREBY GIVE NOTICE:
That they intend to make an application to seek the sanction of the Financial Services Commission to transfer the insurance business of PAN‑AMERICAN INTERNATIONAL INSURANCE CORPORATION to PAN‑AMERICAN LIFE INSURANCE COMPANY (BARBADOS) INC. on 1st July 2025 in accordance with a Scheme pursuant to the provisions of sections 47 – 49 of the Insurance Act Cap. 310 of the Laws of Barbados. PAN‑AMERICAN INTERNATIONAL INSURANCE CORPORATION and PAN‑AMERICAN LIFE INSURANCE COMPANY (BARBADOS) INC. are licensed to conduct insurance business in Barbados.
AND
That the agreement under which the Scheme is proposed to be effected shall be opened to the inspection of the shareholders, members and policyholders of PAN‑AMERICAN INTERNATIONAL INSURANCE CORPORATION and PAN‑AMERICAN LIFE INSURANCE COMPANY (BARBADOS) INC. for a period of thirty (30) days after the publication of this Notice at the offices of:
PAN‑AMERICAN INTERNATIONAL INSURANCE CORPORATION and PAN‑AMERICAN LIFE INSURANCE COMPANY (BARBADOS) INC.
Cheapside Road
Bridgetown, Barbados
AND
Shareholders, members and policyholders of PAN‑AMERICAN INTERNATIONAL INSURANCE CORPORATION and PAN‑AMERICAN LIFE INSURANCE COMPANY (BARBADOS) INC. will also receive a copy of this Notice along with a statement of the nature and terms of the agreement under which the Scheme is proposed to be effected; a summary of the material facts of the agreement; and a copy of each of the actuarial reports upon which the agreement is founded, by electronic mail at least thirty (30) days before the application is made. Copies of these documents can also be viewed HERE. Shareholders, members and policyholders may also be informed of the transfer through telephone calls and during their in‑person visits to Pan‑American International Insurance Corporation.
The Scheme will not impact the policy rates; terms and conditions; coverage and benefits; and service and administration of the policies.
Any person who is likely to be affected by this proposed Scheme may, within 30 days of publication or service upon him of this Notice, make an application to the Financial Services Commission in respect of any matter related to the Scheme.
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 thirty‑member companies, employs more than 2,200 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.