Divestiture of a line of business

​ ​Grupo de Inversiones Suramericana S.A. (Grupo Sura) hereby announces that an agreement has been signed by SURA Asset Management Chile S.A., the parent of the life insurance company Seguros de Vida SURA S.A., to sell the latter´s annuity business in Chile, to BICECORP S.A. and Inversiones BICE Chileconsult S.A., for a base price of USD 232 million1.  It must be noted that this transaction does not entail in any way whatsoever the divestiture of the life insurance company Seguros de Vida SURA S.A. (Chile), merely the portion corresponding to its annuity business only.  This transaction forms part of a wider portfolio optimization initiative as well as a re-allocation of capital to the SURA Business Group’s core lines of business. It also creates additional value to the extent that its profitability outweighs the cost of the capital invested in this Company. The selling price of USD 232 million is the result of a highly competitive process that allowed it to be taken to a maximum level, since it represents a Price / Book ratio of 1.36 based on local accounting standards. It is important to mention that, based on IFRS accounting standards, this transaction has an impact on book profit, mainly due to accounting differences in the case of real estate assets that form part of the portfolio and the Company's reserves, as shall be seen later on in the earnings report for Q1 2018.  1 The price of this transaction was agreed in Chile at 5.168.716 Development Units (Unidades de Fomento or UF in Spanish) which is the equivalent of USD 232 million at today´s exchange rate.