For Immediate Release
|Title:||Pan-American Life Insurance Group Strengthens Corporate Finance Team with Five New Appointments|
NEW ORLEANS, Oct. 24, 2012 /PRNewswire/ – Pan-American Life Insurance Group (PALIG), a leading provider of insurance and financial services throughout the Americas, is pleased to announce the appointment of five executives to the Group’s finance team. David Demmon has joined PALIG as Vice President, Controller and Chief Accounting Officer; Alywin Fruge has come to PALIG as Vice President of Internal Audit and Richard Mabry as Vice President, Corporate Tax. Michael Douglas joins PALIG as Second Vice President Field Controller and Carlos Roberto Aldana as Vice President Corporate Development.
"The deep industry knowledge and expertise of these five executives further strengthens Pan-American Life’s finance team, and the Group’s commitment to financial security for our policyholders," said Carlos Mickan, Executive Vice President, and Chief Financial Officer. "At a time of significant growth for our Group, their collective, vast expertise and insights will guide strategies and reinforce oversight."
David Demmon has more than 20 years of experience in the insurance industry including multinational experience in accounting, financial and management roles, with leadership roles with Aviva North America, Kemper Investors Life Insurance and Zurich Financial Services / Farmers Group Inc. Mr. Demmon received his B.S. in Economics from the University of Oregon and is a licensed Certified Public Accountant and Certified Internal Auditor.
Alywin Fruge adds valuable insight with extensive experience in growth strategies and establishing core administrative, quality assurance and general audit methodologies across a variety of Internal Audit capacities. Mr Fruge earned his B.S. in Management with a focus on Accounting from Tulane University. He is a member of the Information Systems Audit and Control Association (ISACA) and the New Orleans Chapter of the Institute of Internal Auditors (IIA).
Richard Mabry has more than 20 years of tax experience, with key roles in multiple tax planning strategies, advising on acquisition strategies and has developed and implemented comprehensive initiatives and structures for international companies. Mr. Mabry earned a B.A. in Business, Accounting and Philosophy from Wittenberg University. He received his M.B.A. in Finance from Ohio State University and an M.S. in Taxation from the University of Cincinnati. He is a licensed Certified Public Accountant and holds the professional designation of Fellow, Life Management Institute.
Michael Douglas financial services and insurance experience is centered in the areas of operational accounting and finance, strategic planning, reengineering and analysis, and product line extensions. Previously with MetLife, Mr. Douglas held various senior management positions over nearly 15 years with the company in the U.S., Central America, the Caribbean and the UK.
Carlos Roberto Aldana has nearly a decade of insurance and financial sector experience, most recently as a director/relationship manager with Merrill Lynch, Pierce, Fenner & Smith Inc. with a focus on transaction management and execution. Mr. Aldana earned a B.S. in Industrial Engineering from the Instituto Tecnologico y de Estudios Superiores de Monterrey. He received an M.S. in Engineering from GMI Engineering and Management Institute and an M.B.A. in Analytic Finance, Economics and Accounting from the University of Chicago GSB.
About Pan-American Life
The Pan-American Life Insurance Group is a leading provider of insurance and financial services throughout the Americas. New Orleans-based Pan-American Life Insurance Company, the Group’s flagship member, has been delivering trusted financial services since 1911, employing more than 1,300 worldwide, providing top-rated life and health insurance, employee benefits and financial services in 47 states, the District of Columbia (DC), Puerto Rico, and the U.S. Virgin Islands. The Group’s member companies offer individual and/or group life and health insurance throughout Latin America and the Caribbean. The Group has branches and affiliates in Costa Rica, Colombia, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Panama, and 15 Caribbean markets*, including Barbados, Cayman Islands, Curacao and Trinidad and Tobago. For more information, visit the Pan-American Life Web site at palig.com
* Several Pending Regulatory Approval