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GRUPO SURA: Roadmap to profitability

Article - April 8, 2014
Innovation plays a big role in this investment portfolio
Now in its 70th anniversary year, Grupo Sura has plenty to celebrate. In March, Euromoney named it ‘Best Managed Company in Colombia’ in 2013 and ranked it second in the Financial and Banking Services category for Latin America. Grupo Sura also boasts investment grade from both Standard & Poor’s and Fitch Ratings. 
The holding company is dedicated to managing a portfolio of investments in economic sectors as wide-ranging as cement and chocolate, in addition to its core business of insurance, finance and asset management. Grupo Sura is the majority shareholder in companies such as Bancolombia, Grupo Nutresa, Inversiones Argos, Protección, and SURA Asset Management.  

“Our main strength lies in the quality of the people who work with us. That is one of the areas that receives the most investment”
David Bojanini, Group President, says that the holding has grown thanks to its passion for innovation, especially in the insurance sector. “One of the most important innovations in insurance industry has been to change our clients’ concept of insurance by offering them services that differ from a traditional insurance service,” he explains. As an example he cites auto insurance, which Sura has expanded by rendering preventative services and on-road break-down assistance – something no company had ever done before.
In mid-2011, Grupo Sura acquired Dutch company ING’s pension, insurance and investment fund assets in five Latin American countries for $3.7 billion, thus catapulting the group onto the global stage. “This required an entire financing strategy that wouldn’t put our good ratings at risk,” recalls Mr. Bojanini. “But having achieved it definitely positioned Sura as the Latin American leader in mandatory pensions and as an important player in the insurance and savings and investment industries.”
Grupo Sura has had its shares listed in the Colombian stock exchange since 1945 and is today the sole Colombian company listed in LATIBEX.