...Smaller Absolute Size: The life insurers in this peer group are relatively small in terms of assets and surplus but differentiate themselves through a targeted focus on specific products and services in niche markets, which allows them to compete against peers with greater scale, diversification and financial resources. Differentiated Niche Markets: The life insurers in this peer group are narrowly focused on separate and very distinct markets. Pan-American Life Insurance Group (Pan-American; A/Stable) targets the Hispanic and wealthy foreign national markets in the U.S. and is a leading life and health insurer in select Latin American and Caribbean markets. Navy Mutual Aid Association's (Navy Mutual; A+/Stable) customer base includes all personnel in the U.S. uniformed services, including members of the guard and reserve components, the National Oceanic and Atmospheric Administration and the U.S. Public Health Service Commissioned Corps, as well as retirees from these groups. Kemper Life...
