Pan American Life Insurance Company, a New Orleans life insurer hit hard by Katrina, is starting to reestablish normalcy, a company executive says.[@@]
Pan-American Life has set up temporary offices near Dallas and talked to Louisiana insurance regulators and all major rating agencies, says Tom Richert, Pan-American Life’s director of marketing.
More important, Pan-American Life has located 300 of its 450 home-office employees, up from just 150 last week.
Pan-American Life has set up a fund to help employees devastated by the fund. Chief Executive Jose Suquet has pledged to contribute $10,000, and Pan-American Life will be seeking additional contributions from company vendors, business partners and other Pan-American Life managers, Richert says.
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Pan-American Life has established new offices in the Baton Rouge, La., and Philadelphia areas as well as in the Dallas area. But Pan-American Life will return to its headquarters in New Orleans, Richert says.