​ This was the first time that the Company posted its financial statements under IFRS in Colombia, with the consequent effect on how these are read. Grupo SURA's two main subsidiaries Suramericana and SURA Asset Management continued to do well, with the former recording a 14.9% increase in premiums and the latter a 20.4% in commissions. While consolidated revenues rose by 8%, to COP 3.1 billion (USD 1.2 billion), net income was affected by wealth tax and the non-recurring effects of the new accounting standards. Upon isolating both effects, net income would have risen by 13.1%. Medellin- Colombia May 29, 2015.  Today Grupo SURA presented its results for the first quarter of 2015 under  International Financial Reporting Standards -IFRS , which not only record the Business Group´s performance in a much more comprehensive manner but also affect how its financial statements are read and interpreted. The figures reported at the end of March, included an 8% growth in consolidated revenues for a total of  COP 3.1 billion (USD 1.2 billion) , as well as net income, on a YTD basis, of  COP 313 192 million (USD 120.5 million) . This latter figure showed a drop of 55.6% mainly due to (i) wealth tax due this year; and (ii) the non-recurring effect of recording dividends received in 2014 from our related companies under International Financial Reporting Standards (IFRS). With regard to the former item, wealth tax corresponding to 2015 amounted to  COP 101.078 million (USD 38.9 million) , of which COP 4,563 million (USD 1.8 million) are paid by Grupo SURA. As for the second item, based on IFRS, dividends paid by our related companies shall not be recorded this year in the same way as before, with these totaling COP 338.675 million (USD 130.3 million) for 2014. Here it must be noted that under IFRS, revenues from related companies are recorded via the equity method. Upon isolating the effects of both items, the Company´s net income would have risen by 13.1%. David Bojanini , Chief Executive Officer of Grupo SURA stated  "with regard to the operating results of our different businesses, we continue satisfied with the performance shown during the first few months of this year and remain optimistic for the remainder of 2015. Our business plans are being fulfilled in a satisfactory fashion". With regard to Grupo SURA's two main subsidiaries,  Suramericana , its insurance and social security holding, recorded an increase in premiums of 14.9%, for a total of  COP 1.2 billion (USD 471.2 million) , with the car, mandatory road accident and Group Life branches of insurance doing particularly well. The other main subsidiary,  SURA Asset Management , which specializes in the pension, savings and investment sectors, showed an increase in commissions of 20.4% and assets under management rising by 15.8%, thereby consolidating the Company´s leadership of the Latin American pension market and further advancing its aim of becoming No. 1 in the regional savings industry. These subsidiaries coupled with Bancolombia, account for 67.6% of the total market value of Grupo SURA's portfolio. Also with regard to subsidiary performance, it is worth noting that the insurance companies, Seguros de Vida Suramericana S.A., Seguros Generales Suramericana S.A. and Seguros de Riesgos Laborales Suramericana S.A. were issued with local financial strength ratings by BRC Standard and Poor's while maintaining their AAA ratings, the highest awarded on the domestic market in token of their security and financial robustness. Likewise, Fitch Ratings confirmed its BBB + credit rating for SURA Asset Management along with a stable outlook, emphasizing its consistent performance, diversified and stable sources of income, controlled debt and good risk management. Other salient figures with regard to Grupo SURA´s financial statements included consolidated assets which at the end of Q1 came to COP 47.6 billion (USD 18.3 billion), showing a drop of -0.5% compared to year-end 2014. Similarly, the equity attributable to the shareholders of Grupo SURA came to USD 19.9 billion (USD 7.7 billion), showing a decline of 9.9%, this mainly due to price fluctuations of the listed stocks making up Grupo SURA's portfolio. Changes under IFRS Now that it is reporting its results under IFRS, the following relationships between Grupo SURA and the companies that make up its portfolio, shall from hereonafter be understood as follows: Related companies are those in which Grupo SURA holds stakes of between 20% and 50% (Bancolombia, Grupo Argos, Grupo Nutresa and Protección, the latter through SURA Asset Management) Revenues from these companies were previously recorded in the form of dividends declared by these same. Now, these revenues shall be recognized under the equity method, according to the proportion of net income corresponding to the percentage stake held by Grupo SURA in each. Subsidiaries are those where Grupo SURA holds more than a 50% stake (mainly Sura Asset Management and Suramericana) and the financial performance of both are recorded on the parent company´s financial statements on a consolidated basis.