Pan-American Benefits Solutions launched to provide limited medical group benefits in the U.S.

Pan-American Life Insurance Group, a leading provider of insurance and financial services, announced today the launch of its new member company, Pan-American Benefits Solutions, Inc.

As research and continuous media reports maintain, there are approximately 46 million uninsured Americans, and of those 33.1% are Hispanics and more than 9 million are children mostly from working families. Additionally, according to the U.S. Census Bureau 40.3% of employees are not covered by a health insurance plan offered by their employer (2007). Potential solutions point to two critical factors: access and affordability.

Pan-American Benefits Solutions is a provider of group benefit programs that offer solutions for the pressures of rising insurance costs in the current market. Pan-American Benefits Solutions offers limited medical group benefits in the United States, granting employers in search of more economic plans access to affordable group healthcare.

"Pan-American Life is the leading provider of individual life and health, and group life and health insurance in the countries we serve in Central and South America. As such, we have nearly a 100-year heritage built on understanding the complex multicultural nature of the Hispanic population," said Jose S. Suquet, Chairman, President and CEO, Pan-American Life Insurance Group (PALIG). "Pan-American Life Insurance Group's corporate mission is to be the company that Hispanics in the Americas turn to for help in protecting their financial security and improving their sense of well being. Pan-American Benefits Solutions is an important part of the overall Group's strategy, not only with leveraging our strength of developing new and relevant products for Hispanics, but in this case also a sense of responsibility by addressing the issues surrounding the rising costs of employer benefits and the growing number of uninsured employees in the U.S."

"Pan-American Benefits Solutions offers options without sacrificing quality," explains John Foley, Senior Vice President Domestic Markets. "Our group benefit programs are uncomplicated, with products and services that are easy to use and understand, providing affordable coverage for the times when it is needed most. In 2010 we expect to have a full array of services and benefits including dental and vision coverage and access to affordable prescription medicine."