Pan-American Life Insurance Group (PALIG) has reported its strongest financial performance in its 115-year history, posting record results for the year ended Dec. 31, 2025.
Total premiums rose 8% year on year to an all-time high of $1.86 billion, reflecting momentum across its core life, accident and health lines. Pretax operating income increased to almost $115 million, while net income reached $110 million, supported by sustained premium growth, favorable experience and strong investment income. Meanwhile, total assets climbed to $7.5 billion and total equity grew 15% to $1.4 billion.
PALIG's growth has also accelerated over the past decade. After taking more than a century to surpass $1 billion in annual premiums, the group has nearly doubled that level within roughly 10 years, underlining the scale of expansion across its Americas footprint.
"The group remains well positioned, with one of the strongest management teams in the industry, a growing presence across the Americas, and a clear strategic path forward," said Jose Suquet, chairman of the board and CEO of PALIG.
Market and peer context
From a market perspective, PALIG’s 8% premium growth in 2025 sits well above the broader regional trend.
Swiss Re Institute projects total insurance premiums in Latin America to grow by around 4% in real terms in 2026, with life and health business a key driver as inflation moderates and income levels rise.
Globally, life insurance is expected to remain the main engine of premium expansion. Swiss Re forecasts that life premiums will grow by about 3% a year in real terms in 2025 and 2026, more than double the average rate of the past decade, supported by higher interest rates, ageing populations and a growing middle class in emerging markets.
Against that backdrop, PALIG is growing broadly in line with, or slightly ahead of, some larger multinational peers in comparable segments, while outpacing average regional growth. The numbers highlight the ability of a mid‑sized, regionally focused carrier to deliver near top‑quartile premium growth and capital accretion by concentrating on protection‑led life, accident and health products rather than capital‑intensive savings business.
The group’s footprint, which spans the US Hispanic market and key Latin American and Caribbean economies, positions it squarely in the path of several long-term demand drivers, including rising life and health insurance penetration, expanding employer-sponsored benefits and growing private medical spend as public systems face capacity constraints.
Swiss Re Institute also estimates that emerging markets, excluding China, will see life premiums grow by around 5.7% a year in real terms over 2025 to 2026, significantly faster than advanced markets, as income growth and demographic shifts support protection and retirement product demand.
For PALIG and its peers, higher interest rates are also supporting for new business profitability, particularly in long-duration life and health cash-flow profiles. At the same time, regulators and rating agencies remain focused on risk management, capital discipline and ALM under evolving solvency and accounting regimes.
