Pan-American Life Launches Operations in Mexico
Pan-American to invest $4 million within the first two years of operations.
Insurance Networking News, January 22, 2013
Pan-American Life Insurance Group (PALIG), a provider of insurance and financial services, has launched operations in Mexico with an initial investment of $4 million and an offer of two of its portfolio products of international major medical insurance and personal accidents coverage.
PALIG says the Mexican subsidiary received the authorization from the Department of Revenue and Public Credit (SHCP) to operate and market its major medical expense insurance—Pan-American WorldAccess and Pan-American PreferredAccess—and personal accidents products, and will be under the general supervision of Julio Verduzco. Verduzco will be responsible for the implementation of a distribution channel composed of agents, promoters and brokers, with a specialized profile to provide services to clients in Mexico.
Pan-American WorldAccess and Pan-American PreferredAccess fall under the umbrella of Pan- American Life's Private Client concept, which will provide a life and health insurance benefit for high-net-worth individuals, PALIG says. Through these major medical plans, individuals seeking international health insurance will have access to a concierge service and health benefits, delivered through a global network of medical providers.
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