SEPTEMBER 29, 2017 01:29:38 Eastern Daylight Time
A.M. Best Affirms Credit Ratings of Pan-American Life Insurance Company and Its Affiliates
FOR IMMEDIATE RELEASE
OLDWICK - SEPTEMBER 29, 2017 01:29:38 Eastern Daylight Time
Pan-American Life’s rating affirmations reflect the benefits derived from its established and recognized presence in Latin America and the U.S. Hispanic marketplace, as well as an improved balance sheet due to its solid consolidated risk-adjusted capitalization and well-performing fixed-income investment portfolio. Additionally, Pan-American Life continues to report positive net operating performance driven by its diverse operations and steady stream of net investment income. Additionally, the integration of MTL into the organization progressed as planned, and created favorable synergies and enhanced scale within the U.S. operations. Partially offsetting these strengths are the challenges to further grow statutory capital, as well as to improve operating performance within certain lines of business and to successfully execute its strategic business plans throughout the enterprise. The ratings also reflect the economic, political, and financial system risks associated with the Latin American and Caribbean countries where Pan-American Life writes a significant amount of premium.
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