NEW ORLEANS--(BUSINESS WIRE)--Pan-American Life Insurance Group (PALIG), a leading provider of insurance and financial services throughout the Americas, announced today that Daniel Costello is joining the Group as Senior Vice President – International Country Management. In this capacity, Mr. Costello will have direct oversight for all of Pan-American Life’s operations in Latin America. He will also join the company’s Executive Management Committee.
“We are very pleased to welcome Dan into the Pan-American Life family,” said José S. Suquet, the Group’s Chairman of the Board, President and CEO. “His expertise in strategy, multi-channel distribution, operations and product development will be a tremendous asset as we continue to leverage the growth potential that exists in our international markets.”
Prior to joining Pan-American Life, Mr. Costello spent over 30 years with American International Group (AIG) and AIA Group. Most recently, he served as President and CEO of AIA International - Korea, a company with over 3 million policies, US$2 billion in total annual premium, and US$180 million in operating profit after tax (OPAT). In his five years in this role, he increased OPAT by 11.5% CAGR, significantly reduced Accident and Health loss ratios and doubled new business premium from protection products.
Prior to his role in Korea, Mr. Costello was Senior Vice President and global head of the Individual Life and Accident and Health Profit Center for American Life Insurance Company (Alico) responsible for the profitable growth of Alico’s Individual products in over 50 countries.
“Dan has managed successful insurance operations in all of the major regions of the world including Asia, the Middle East and Latin America,” added Robert DiCianni, President – International Group Business at Pan-American Life. “He has proven his ability to create and execute strategic plans for sustainable growth and we are excited to have his leadership as we continue to strengthen our legacy in Latin America, delivering trusted financial security and peace of mind to millions.”
Mr. Costello holds a Bachelors in Business Administration from St. Norbert College in Wisconsin. He also obtained his Employee Benefits Specialist certification from International Foundation / Wharton School, University of Pennsylvania.
About Pan-American Life Insurance Group
Pan-American Life Insurance Group is a leading provider of insurance and financial services throughout the Americas that has been delivering trusted financial services since 1911. The New Orleans-based Group is comprised of more than twenty member companies, employs more than 1,650 worldwide and offers top-rated individual and/or group life, accident and health insurance, employee benefits and financial services in 49 states, the District of Columbia (DC), Puerto Rico, the U.S. Virgin Islands, and throughout Latin America and the Caribbean. The Group has branches and affiliates in Costa Rica, Colombia, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Panama, and 13 Caribbean markets, including Barbados, Cayman Islands, Curacao and Trinidad and Tobago. For more information, visit the Pan-American Life Web site at palig.com, follow us on Twitter @PanAmericanLife, and connect with us on LinkedIn at Pan-American Life Insurance Group.