Pan-American Life Insurance Group in New Orleans reported net income for 2017 increased 22.7 percent to $60.0 million from $48.9 million in 2016.
The insurance and financial services company's revenue reached $1.08 billion, a 6.8 percent increase over 2016, and total premium grew 3 percent to $1.10 billion.
The company, which operates throughout the Americas, said it experienced strong performance across its four key business segments, with international group and U.S. life in particular producing double-digit growth in sales versus 2016. It recorded business segment premiums of $245 million in international life; $242 million in U.S. life; $386 million in international group; and $226 million in U.S. Group.
Total assets surpassed $6 billion for the first time in the company's history.