In the light of the information that has been circulating in the media this week, and for the purpose of duly informing the market regarding its relationship as a minority reinsurer of its subsidiary Seguros SURA Colombia; this with regard to the Hidroituango project as well as its relationship with EPM, Grupo SURA would like to share the following information:
- Seguros SURA Colombia is not the insurer of the Hidroituango project and it has no direct contractual relationship with EPM in this particular case. It is, however, a reinsurer of the Mapfre policy in the amount of 13% and, in turn, this percentage has been reinsured at 98.7%, which leaves Seguros SURA Colombia with a final exposure of 1.3%. Consequently, Seguros SURA Colombia would have to assume a maximum of USD 2.5 million dollars (about COP 9,200 million Colombian pesos at the current exchange rate), a sum that has already been duly held in reserve since 2018.
- We would also like to reaffirm the fact that Grupo SURA has never had a seat on the Board of Directors of EPM, nor has any other person representing our financial and insurance activities.
- We would also like to point out that Mr. Andrés Bernal C. has never worked for the insurance companies belonging to Suramericana S.A. He was, however, the Chief Finance Officer of another subsidiary of Grupo SURA, that bears no relation to our insurance activity, a post he held until 2017. It is indeed public knowledge that in 2012, Mr. Bernal agreed to sit on the Board of Directors of EPM in an exclusively personal capacity. In no event did his being a member of said Board imply any institutional representation on our part; this was plainly evident by the fact that after leaving the SURA Business Group in 2017 he continued as a member of the aforementioned Board in his capacity as a CEO of another entirely different company.