PALICPan American Life Insurance Company (New Orleans, LA)
PALICPacific-Antai Life Insurance Company (Shanghai, China)
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The rating affirmations reflect New Era, PALIC and NEMW's generally positive net operating gains, their efforts to improve the overall quality of the balance sheets and core business focus, which serve senior markets, as well as pursuing selective acquisitions of blocks of business.
PALIC paid statutory dividends of $23 million in 2008 and another $32 million in 2009 to the intermediate holding company, Pan-American Life Insurance Group, Inc.
PALIC is the lead member of Pan-American Life Group, which is ultimately owned by Pan-American Life Mutual Holding Company.