Pan-American Life Insurance and Mutual Financial Group merge

Pan-American Life Mutual Holding (Pan-American Life) and Mutual Trust Holding (Mutual trust) have merged their activities.

The transaction, approved by both boards of directors, will create the leading insurer in the life, accident and health classes of business in the United States.

The approval of the authorities has not yet been obtained. Once the deal is sealed, the new company, that will have a workforce of 1 650 people, will continue to operate as a mutual.

Its turnover will attain 1 billion USD. It will be managing 5.5 billion USD in assets with a share capital of approximately 1 billion USD.