"We are pleased that SUGESE approved Pan-American Life to operate in Costa Rica," said Jose S. Suquet, chairman of the board, president and CEO of Pan-American Life. " This much-anticipated moment marks a continued expansion in the execution of our regional strategic plan. The new competitive landscape in Costa Rica favors Pan-American Life, considering the company's 99-year history and the Group's deep-rooted experience throughout Latin America."
PALIG plans to offer individual health, group life, accident insurance, health insurance products and an insurance product valid for both local in-country benefits and global medical care. The company says it plans to tout its new subsidiary through a series of media, broker and institutional briefings in July.