Fitch Ratings affirms 'A' rating for Pan-American Life Insurance Co.

New Orleans CityBusiness, Jul 10, 2007

Fitch Ratings affirmed the 'A' insurer financial strength rating and stable outlook on Pan-American Life Insurance Co. and its subsidiary Pan-American Assurance Co.

Fitch said Pan-American Life's rating is supported by its balance sheet strength and its niche position in the Latin American and Hispanic markets and also reflects its view that it has a defensible position and good growth prospects in its core markets.

Fitch noted Pan-American's management is executing strategies to improve operating performance but anticipates it will be another few years before the are fully reflected in operating results. Other concerns Fitch expressed include lack of scale and the company's ability to grow while managing expenses and preserving capital.