The Ritz-Carlton has announced that in 2016 it will open a new hotel in Pearl Island, south of Panama City.
The new facility will have 80 rooms, a spa, private beach club, three swimming pools and three restaurants. In addition, visitors will have access to a 1,800 square pavilion and function room with sea view.
Through this acquisition, PALIG will increase its already considerable business in Panama and Costa Rica, while expanding its presence in the Caribbean.
In total, the businesses that PALIG are attempting to acquire represent over $125 million in premiums and $675 million in assets, according to 2010 figures.
Pan-American Life Insurance Group (PALIG), a leading provider of life and health insurance in Latin America and the United States, today announced a definitive agreement to acquire certain businesses and assets of MetLife (NYSE: MET). In addition to acquiring all American Life Insurance Company (ALICO) operations in Panama and Costa Rica, PALIG plans to acquire MetLife’s American Life and General Insurance Company (ALGICID) in Trinidad and Tobago, as well as subsidiaries of ALICO in Barbados, the Cayman Islands and most of the Windward and Leeward Islands. Upon completion, this transaction would increase the size of the Pan-American Life Insurance Group and extend its geographic reach. Details of the transaction have not been disclosed.
Hospitality and tourism division of Empresas Bern, a Panamanian company with 30 years of experience in real estate development, construction and sales.
Operates in Panama
Phone: (507-) 206-8843 - (507) 6647-6100