Pan-American had previously held a 20% stake in USNow
New Orleans-based Pan-American Life Insurance Group (Pan-American), a provider of life and health insurance, worksite benefits and financial services, has acquired USNow, a provider of group healthcare plans for underinsured and uninsured individuals and corporate employees.
According to Pan-American, USNow has been representing its Life’s worksite product line in the US Since 2006. Pan-American had previously held a 20% ownership stake in USNow.
John Foley, senior vice president, Domestic Markets for Pan-American, said: “Making USNow a part of Pan-American Life is of great strategic importance to our business as we expand our distribution in the United States, strengthen our commitment to the US Hispanic market, and continue to identify new sources of revenue growth.”
USNow operations will remain based in Dallas, Texas, under the leadership of Mr. Foley.