GreenWood International Insurance Services, Inc., a Massachusetts based managing general underwriter, announced they have been acquired by Pan-American Life Insurance Group, a leading provider of life and health insurance in Latin America and the U.S. Hispanic market.
GreenWood International, an 11-year-old company, underwrites and administers various insurance products, including medical stop loss, personal accident (business travel, accident and voluntary AD&D), occupational accident, and primary employer's indemnity insurance policies. GWI's presence servicing principally employers less than 1,000 lives is anticipated to serve as a platform for Pan-American Life to expand throughout the United States across multiple insurance product lines. GreenWood International has grown to over $30 million of earned premium and serves over 480 groups throughout the United States. GWI will remain in their current offices located in Boston, Austin and Kansas City.
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