History
We make it possible for Latin Americans to be able to ensure that they live in the world they have always lived in and the world to come.
This story began 80 years agoHistory
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The Suramericana de Seguros SA Company is born, the origin of the SURA identity
On December 12, 1944, in the Second Notary Office of Medellín, representatives of 36 companies and 150 individuals created the Compañía Suramericana de Seguros, with a continental vision.
Creation of the First Insurance Policy
On April 25, 1945, four months after its founding, the company issued its first policy. The insured was Talleres Robledo SA, with coverage of $15.000, valid until April 1946.Creation of the company's first subsidiary: birth of Suramericana de Seguros de Vida
After two years of operations, the company creates a subsidiary specializing in life insurance, consolidating its presence in the insurance sector.
First own headquarters in the center of Medellin
In its first five years, the company grew in numbers and personnel, which led to the opening of its headquarters in the center in 1951. Although planned since 1948, construction was delayed due to instability following the assassination of Jorge Eliécer Gaitán. This headquarters operated for more than 20 years until its move to Otrabanda in 1970, reflecting the growth of the company.Expansion and commitment to the environment
During this decade, the company diversified its services with the creation of Suramericana de Capitalización and the Investment Management Company, strengthening its role in savings and investment.
First broadcast of Noticiero Suramericana
Suramericana de Seguros sponsors the "Noticiero Suramericana", consolidating its presence in the media and reinforcing its corporate identity.We reached one thousand employees!
This milestone marks a constant growth, with the arrival of new talent to Suramericana. It also boosts the cultural sphere with the publication of Artes plásticos en Colombia (1959), by the Catalan Juan de Garganta, edited by Colina.
Stories that continue to add to ours
We were part of the creation of the Corporación Financiera Industrial Agrícola, 6 years later it was fully acquired and became the South American Financial Corporation.Birth of the South American Foundation, today SURA Foundation
On June 7, 1971, the Board of Directors of the Suramericana Insurance Company approved Jorge Molina’s proposal to create the Suramericana Foundation. According to the minutes, its objective was “to improve the social, educational, civic and cultural conditions of the people.” These principles have guided its work for more than 50 years and remain in force in educational, cultural and citizenship initiatives, strengthening capacities in Latin America.
First work that begins the SURA Art Collection
During his tenure, Jorge Molina promoted art, civics and education. In 1972, together with the Board of Directors, he created an art gallery to turn the company's facilities into a meeting place for art. The collection began with El caballero Mateo (1965) by Alejandro Obregón and, since then, art has been a pillar of SURA's identity in Colombia and Latin America. Today, the collection has 1.028 works.A friend for the country is born
The Tigre de Suramericana begins to be part of history, one of the most positioned characters in advertising in Colombia, managing to become part of the culture.
Opening of the headquarters in Otrabanda
The opening of the headquarters in Otrabanda in 1973 marked a turning point for the company. Its construction took a decade (1963-1973), but, despite the difficulties, it became an architectural reference for the city and the country. Otrabanda integrates the company's values in art, culture and biodiversity.Suramericana, partner company and co-founder of Conavi National Savings and Housing Corporation
Suramericana de Seguros was a founding partner of the National Savings and Housing Corporation (Conavi), which was later absorbed by Bancolombia in 2005. Its involvement in housing facilitation dates back to 1954 with the creation of the Industrial Construction Company, its third subsidiary. It also contributed to urban development in Colombia.
Creation of the South American Financial Corporation
In 1976, Suramericana created the Corporación Financiera Suramericana after acquiring the Corporación Financiera Industrial Agrícola. In 1978, it strengthened its presence in the sector with the purchase of Colombo-Mexicana de Inversiones, which later became the Compañía Suramericana de Financiamiento Comercial.Synergies that make us efficient
In the face of several acquisitions of Antioquian companies listed on the stock exchange by conglomerates that concentrated their ownership, leaders of Suramericana and other companies proposed a “Movement to defend the corporation and industrial heritage of Antioquia.” This gave rise to a scheme of reciprocal shareholding by some companies in others. Since then, collaboration and synergy strategies have been developed between food companies (today Grupo Nutresa), infrastructure (today Grupo Argos) and financial services (today Grupo SURA).
Subfinancing is born
In 1980, to strengthen its presence in the financial market, Suramericana transformed Colombo-Mexicana de Inversiones into Sufinanciamiento, today Sufi de Bancolombia. A year later, it created Leasing Suramericana (Suleasing) to promote financial leasing, now Leasing Bancolombia.Birth of Suleasing
The creation of Leasing Suramericana, Compañía de Financiamiento Comercial (Suleasing), today Leasing Bancolombia, diversifies the options of this financial service in the country. The emergence of this company shows the expansion of the catalogs of services offered by the SURA brands, companies that, although diverse, share the SURA identity.
Emergence of the Cultural Committee
The Cultural Committee was formed by Nicanor Restrepo Santamaría and Marta Eleva Bravo to promote cultural activities in Otrabanda. This committee, made up of experts and directors of the Company, promotes artistic diversity as a basis for human well-being and sustainable development.Commitment to the country
Nicanor Restrepo Santamaría's participation in the peace processes in Colombia in the 80s and 90s reflects his social and political commitment. He advocated for peace and promoted a business model free of drug trafficking, thus facing important challenges of the time.
Birth of Susalud (today EPS) and Sufiducia.
The last decade of the 1995th century was crucial for SURA, with the creation of the Compañía Suramericana de Servicios de Salud (Susalud) in XNUMX, which became EPS SURA. Sufiducia, now Fiduciaria Bancolombia, was also established, focusing on the management of Collective Investment Funds and the administration of financial resources.Protection is created
The Pension Fund Administrator Protección is created. The stockbroker Suvalor is created. Corfinsura is created, when the Corporación Financiera Nacional y la Corporación Financiera Suramericana merge.
Birth of Corfinsura
The birth of Corfinsura resulted from the merger between the National Financial Corporation and the South American Financial Corporation, giving rise to the current Bancolombia Investment Bank.Social Security System
The implementation of the social security system in Colombia, enacted by Law 100 of 1993, marked one of the most significant social milestones of the final decades of the XNUMXth century. The Colombian State prioritizes and expands coverage of the health rights of Colombians. SURA actively participated in the sector's discussions and continues to do so today.
BIC, now Bancolombia, entered the New York Stock Exchange.
Since its inception, the company's history has been linked to Banco Industrial Colombiano (BIC), founded in 1945. Suramericana de Seguros became its main shareholder, and in July 1995, BIC was listed on the New York Stock Exchange, marking a milestone in the internationalization of the Colombian financial sector. In 1998, BIC acquired 51% of the shares of Banco de Colombia, leading to the merger that gave rise to Bancolombia, today the most important bank in the country.Creation of Suratep (today ARL SURA)
Suramericana Labor Risk Insurance (Suratep) was founded with the aim of managing risks associated with work accidents and occupational diseases. The company later became what is now ARL SURA, a significant company for the lives of many Colombians. In the late 1990s, the company consolidated its connection to the Colombian Social Security System together with Susalud y Protección.
SURA Group is born: investments are focused
In order to optimize the capital of Suramericana de Seguros shareholders, improve profitability and strengthen its structure, Suramericana de Inversiones (today Grupo SURA) was created in 1997, separating its investments from insurance activities. Today, Grupo SURA manages investments in financial services with three main holdings: Suramericana, SURA Asset Management (created in 2011) and a majority stake in Bancolombia.Acquisition of the Panama Interoceanic Highway.
The direction that the company will take over the next 20 years begins to take shape: growth and expansion into the Latin American and Caribbean markets. One of the first regions to receive the SURA identity was Panama, with the acquisition of the Interoceánica insurance company, which at the time was one of the main insurance companies in the Central American country. This is how Seguros SURA Panama was later created, a benchmark for SURA's internationalization.
Grouping of insurance activities.
In line with improving the management and specialization of the Companies, responding to market conditions, preparing for future expansion opportunities and attracting international investors, in 1999 the strategic decision was made to create Inversura, today Suramericana, which grouped investments in voluntary insurance companies that participated in the Colombian social security system (EPS SURA and ARL SURA).Munich Re acquires 19.5% of Inversura
In 2001, Munich Re, a world leader in reinsurance, acquired 19,5% of Inversura, now Suramericana. The German company remains a long-term strategic shareholder, contributing experience, knowledge and confidence to Suramericana's growth, strengthening its relationship with foreign companies.
Bancolombia Group is born
Since 1945, Compañía Suramericana de Seguros and Banco Industrial Colombiano (today Bancolombia) have maintained an alliance that has strengthened over time. In 2005, with Grupo SURA as the main shareholder of Bancolombia, Conavi and Corfinsura were integrated, marking the beginning of Grupo Bancolombia. This operation expanded the bank's portfolio of financial products and services and facilitated its international expansion, while strengthening Grupo SURA's future investment portfolio.Acquisition of Banco Agrícola in El Salvador
As part of Bancolombia's growth and internationalization interests, between 2006 and 2007 it acquired Banco Agrícola de El Salvador, the most important banking institution in the Central American country.
We are first in the hearts of Colombians
Our insurance companies positioned themselves in first place in the Colombian market by acquiring Agrícola de Seguros. This transaction was completed on July 1 of that year, after approval by the Superintendencia Financiera.Partnerships that allow us to fulfill our mission
Doing it together allows us to have better results and this alliance with Almacenes Éxito allowed us to offer insurance in the retail channel to new clients.
New SURA image
One of the most significant changes in the identity of the Suramericana family occurred when the Suramericana brand became SURA, unifying the names of the businesses (Seguros SURA, ARL SURA and EPS SURA). According to Gonzalo Pérez Rojas, this decision was made to centralize the identity of the brand and facilitate its internationalization in other Latin American countries that are not necessarily part of South America.Birth of SURA Asset Management
SURA Asset Management is created as a company of Grupo SURA to manage the assets acquired from ING in Chile, Colombia, Mexico, Peru and Uruguay. Thus, SURA becomes a leader in mandatory pensions in Latin America and one of the most important investment managers in the region by assets managed. With this operation, the SURA art collection incorporates 377 works by renowned Mexican artists.
Acquisition of Proseguros, in the Dominican Republic
Suramericana agrees to buy Proseguros, which has been Seguros SURA Dominican Republic since 2012. Protección acquires AFP Crecer in El Salvador, which was later sold in 2024.Inclusion in Dow Jones Sustainability
In 2011, Grupo SURA received one of the highest international recognitions by being included in the Dow Jones World Sustainability Index, as one of the 342 global companies recognized for their social, economic and environmental management. It was the first time that a Colombian company in the financial sector entered this list, where it has remained year after year, reflecting the best practices implemented in the group's companies and its commitment to responsible management towards stakeholders, societies and the environment.
Acquisition of Asesuisa in El Salvador and Banco Agromercantil in Guatemala
Suramericana acquires Asesuisa, a leading insurer in El Salvador, which was later sold in 2023. This event was part of the expansion and internationalization undertaken by Suramericana in Latin America. Following this trend, Bancolombia, as a strategic investment of Grupo SURA, initially purchases 40% of Banco Agromercantil (BAM) in Guatemala, increasing its position in the Central American country.Mergers that take us further
Bancolombia has completed the acquisition process of the Panama operation of the British group HSBC, now Banistmo.
South American Growth: Acquisition of RSA Businesses in Latin America
Suramericana acquires RSA Insurance Group's businesses in Chile, Mexico, Colombia, Uruguay, Brazil and Argentina, positioning Seguros SURA among the industry's leading operations in the region. In addition, it agrees with Bancolombia to acquire Seguros Banistmo, which is incorporated into Seguros SURA Panama, and creates SURA Re Ltda. to offer reinsurance services. 2015 marks a milestone in the company's growth.SURA Ventures is born
As a future bet on the development of financial services businesses in its portfolio, Grupo SURA created its corporate venture program called SURA Ventures in 2017, with the aim of investing in companies based on innovation and exponential technologies.
A Billion Dollar Story in the Stock Market
We placed ordinary bonds for $1 billion pesos on the public securities market, an operation carried out on June 22, 2016. Bids were received for $1,82 billion pesos, which represents 2,27 times the initial amount offered.Traveling Exhibitions in Latin America
Since the 1970s, SURA has stood out for its contributions to art and culture. Beginning in the 2017st century, these efforts to disseminate art reached international levels. In XNUMX, traveling exhibitions were held throughout Latin America, connecting the art of Colombia, Mexico, Uruguay, Argentina, El Salvador, the Dominican Republic, and Panama, fostering new spaces for dialogue about art in Latin America.
SURA Foundation Chile and Mexico
The SURA Foundation has fostered a network of experiences with the regions and countries of Latin America; thus, since 2017, the year in which the Foundation arrived in Mexico and Chile, links have been built based on community care and respect.Acquisition of SURA Insurance in Mexico
In November 2017, the strategic decision was made to reorganize the portfolio of companies within Grupo SURA in Mexico and focus the businesses on each of their specialties. Therefore, in 2018, the transfer of the Life Insurance business to the sister company, Seguros SURA México, a subsidiary of Suramericana, was formalized.
A strategic shareholder arrives at SURA Asset Management
Grupo SURA announced the agreement with the Canadian fund Caisse de dépôt et placement du Québec (Cdpq) to join SURA Asset Management as a strategic partner, through the acquisition of 6.68% of the property for approximately USD 247 million, equivalent to the participation of Bancolombia and Grupo Wiese. Since then, CDPQ has contributed its extensive knowledge to the strategic development of SURA Asset Management as a Latin American leader in asset management.Challenges: between the pandemic and collective need
2020 was a year that marked humanity. The confinement due to the health crisis caused by Covid-19, the difficult economic and food conditions for large social sectors and the mental health challenges faced at a social and individual level were some of the events that marked the pandemic. However, SURA faced adversity and continued to provide services in Colombia and Latin America.
Movement in business
Despite the challenges posed by 2020, human and financial movements at SURA did not stop. That year saw the acquisition in Colombia of Gestión Fiduciaria, now Fiduciaria SURA, by SURA Asset Management.Presence in Colombia: care providers.
In the midst of the difficult times of the pandemic, EPS SURA administered five million vaccines against Covid-19, marking a fatality rate three times lower than that of the country. Supporting Colombians during the pandemic was a priority for the company: accompanying them through care and co-responsibility.
SURA Foundation, 50 years of commitment to society.
The 50th anniversary of the SURA Foundation was celebrated. The project created at the beginning of the 1970s has managed to connect with the lives of thousands of Latin Americans for more than five decades of building citizenship. Since its inception, the Foundation has acted through three lines of support: quality education, cultural promotion, and strengthening citizenship and democracy. Three values that light the way as an identity today.New business opportunities
In the eventful year of 2021, the SURA group of companies saw the emergence of the biotechnology company VaxThera, a pioneering entity in the country, responsible for strengthening the health dimension in Colombia and the Latin American subcontinent through the design, development, creation and packaging of vaccines.
Asulado is born
In 2022, Asulado was created, a SURA Asset Management company that operates in the pension insurance and life annuity sectors in Colombia.News!
Among the events that took place in 2023, there are: SURA Asset Management consolidated SURA Investments, specialized in investments and asset management. Grupo SURA signed a Framework Agreement to exchange shares with Grupo Nutresa, while the acquirers transferred their shares in SURA. In addition, Suramericana assets in Argentina and El Salvador are sold to consolidate the regional presence and optimize operations.
