Pan-American Life Insurance Group (PALIG) has launched its operations in Mexico with an initial investment of $4m for first two years, aimed to provide superior service and exceptional value to distributors/producers and clients.

Under the general supervision of Julio Verduzco, the new subsidiary has been authorized by the Department of Revenue and Public Credit (SHCP) to offer its Pan-American WorldAccess and Pan-American PreferredAccess and Personal Accidents products.

Verduzco will be responsible for the execution of a distribution channel comprising agents, promoters and brokers to provide services to clients in Mexico.

The International Major Medical plan, Pan-American WorldAccess and Pan-American PreferredAccess provide a one-stop, full service life and health insurance benefit for high net worth individuals.

The clients will receive all of these benefits without the traditional actuarial limitations and with policies on pre-existing conditions and waiting periods that are different than those of the competition.

Julio Verduzco said, "The launching of these products in the Mexican market responds to the need to cater to a Premium potential clientele segment that requires medical insurance that provides coverage in hospitals in the United States and the rest of the world including global specialists."