All Subsidiaries Will Operate Under Pan-American Life Insurance Group

Effective January 1, 2007, Pan-American Life Insurance Company, along with its domestic and international subsidiaries, will operate under a new parent holding company – the Pan-American Life Insurance Group.

The new name is part of the company’s reorganization under a mutual holding company structure. The move was overwhelmingly approved by policyholders this fall and by the Louisiana Department of Insurance this month.

Under a mutual holding company structure, Pan-American Life will have additional means to raise capital and more organizational flexibility, creating opportunities for greater growth through acquisitions and further financial strengthening of the company.

“The new holding company is just part of the process,” said Jose Suquet, President and CEO of Pan-American Life. “The mutual holding company structure gives us a number of different capital raising options that a mutual insurance company does not have while maintaining and preserving policyholder control and membership rights.”

“The reorganization will not cause any change in premiums or a reduction in policy benefits, values or guarantees, and policyholder dividends will be protected.”

Earlier this year, Pan-American Life received 30,890 votes from eligible policyholders, with 95.5% being in favor of adopting the plan of reorganization. This successful vote came just months after the Board of Directors unanimously approved the plan.

Suquet also stressed that a mutual holding company structure positions Pan-American Life for a future of continued growth, financial strength and stability.

About Pan-American Life Insurance Company

New Orleans-based Pan-American Life has been a leading international insurance company for more than 90 years. Founded in 1911, Pan-American employs more than 800 worldwide, providing its top-rated life and health insurance, worksite benefits and financial planning products in 43 states, the District of Columbia (DC) and Puerto Rico. Its international operations, offering life and group health insurance throughout Latin America, includes affiliates in Panama, Guatemala and Colombia, and branch offices in Ecuador, El Salvador and Honduras.

_______________________________________________________________

Contacts-Pan-American Life Insurance Company, New Orleans

Marta Reeves, 504-566-3112

Fleishman-Hillard, Miami
Stephanie Vainder, 305-520-9024

© Business Wire 2007