Photographer: Jorge A. Arango - Fundación herencia ambiental

Performance of
Grupo SURA in
Latin America
was determined by:

  • Solid operating performance of its main businesses.
  • Strategic decisions of its subsidiaries to ensure profitable growth.
  • External aspects such as the high volatility of capital markets.
  • Advances in innovation, sustainability, corporate governance, social investment, reputation and brand.

our strategy

Strategic priorities of Grupo SURA

Transformation and evolution of business

To respond, with assertiveness, to constant changes of the environment and look for opportunities, leveraged in new technologies and innovative models.

Financial strength and investment capacity

To allow for the resources to support the strategy of the Organization, continue with capital assignment plans, respond to obligations and contribute to the Companies growth, consolidation and profitability.

Creation of greater value to clients

To seek to overcome the expectations, and to support, the Financial Services Companies of our portfolio, in an effort to differentiate ourselves, anticipate issues and scenarios, with solutions, and identify better ways to support each of our clients, throughout the different stages of their lives.

75.4%

of the portfolio in
financial services

Focus on financial services

Grupo SURA was consolidated as a holding company of the SURA-Bancolombia Financial Conglomerate. Referent in Latin America in the financial services of insurance, pensions, savings, investment, asset management and banking.

Financial conglomerate
sura-bancolombia

convenciones

  • Clients:

    51
    million

  • Employees:

    59,317

  • Assets under
    management
    (AUM)*:

    COP 686.9 billion
    (USD 211,367 millon)

    *Sum of assets managed by Conglomerate Companies. Calculation: sum of AUM of SURA AM; consolidated technical reserves and managed directly by Suramericana; deposits of Bancolombia and AUM of Fiduciaria Bancolombia and Valores Bancolombia. It is not comparable with data published in the Annual Report 2017 due to change in the calculation methodology.

Clients19.8 millon

Collaborators8,705

Countries6

Organizational chart(Commissions + safe margin)

COP
2.24 billon

(USD 758.8 millon)

5.7%

Net income 

COP
0.29 billon

(USD 98.5 millon)

-52.7%

Assets under management (AUM)

COP
418.6 billon

(USD 128,798 millon)

4%

Clients17.2 millon

Collaborators20,445

Countries9

OPERATING INCOME(Premiums issued + provision of services)

COP
15.2 billon

(USD 5,145.1 millon)

3.6%

TECHNICAL RESULTS 

COP
2.38 billon

(USD 804.2 millon)

13%

NET INCOME 

COP
524,868 millon

(USD 177.5 millon)

3.6%

Clients14 millon

Collaborators30,089

Countries4

GROSS PORTFOLIO(Of credits, before provisions)

COP
173.8 billon

(USD 53,487 millon)

8%

NET INCOME 

COP
2.66 billon

(USD 899.3 millon)

1.7%

EQUITY 

COP
24.8 billon

(USD 7,646.4 millon)

7.5%

Main figures 2018 grupo Sura (Holding)

OTHER RELEVANT FIGURES 2018-SURA BUSINESS GROUP
(Grupo SURA, SURA Asset Management y Suramericana)

Our shareholders

At december 31 of 2018

11,102

Shareholders have
Grupo SURA

9,465

individuals of that total

501

are
international

See participation shareholders

Among
leaders in
sustainability

  • Grupo SURA was included for the eighth consecutive year among the 317 companies that make up the Dow Jones Sustainability World Index.
  • Grupo SURA had a rating higher than 98% of the companies in the Financial Services and Capital Markets sector.
  • Included in the Sustainability Yearbook 2019 of the RobecoSAM firm and recognized with a silver medal (Silver Class), as one of the three with the best performance in its sector.

Our financial
results
during 2018
were especially
determined by:

Strong operating performance of our subsidiaries, which strengthened the growth of their main lines of business and diversified their porfolios of products and solutions, while striving to maintain control of expenses.

Strategic decisions that seek the optimal use of capital, such as not participating in business of annuities in Chile and pension insurance in Colombia, as well as the impact of the change in the accounting for health insurance premiums, also in Colombia.

External aspects such as the high volatility of the capital markets, which was reflected in the decrease in income from returns on own investments that support the insurance and pension businesses, in contrast to a positive performance of the indicator in 2017. To a lesser extent, a negative exchange effect influenced by the devaluation of the Colombian peso against the dollar.

resultados
2018 del
grupo
empresarial
sura

David Bojanini
President Grupo Sura

“The operational growth of the main lines of business of Suramericana and SURA Asset Management in 2018, as well as the higher efficiencies, allowed us to offset part of the impact that the high volatility of the financial markets had on the returns of our own investments throughout the year of the Companies. Strategic decisions were also made in our subsidiaries to ensure profitable and sustainable growth in the long term”.

Management Report of the
President and the Board of Directors

Ethics and Corporate Governance

27 thousand employees

Trained, virtually, on the Ethics
and Corporate Governance System

97.3% of recomendations

Were adopted in the
Country Code survey.

Our Board
of
Directors

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High
management

DAVID BOJANINI GARCÍA
Chief Executive Officer

TATYANA MARÍA OROZCO
DE LA CRUZ
Chief Corporate Affairs Officer

Management and Departments, in charge of:

  • Planning and Strategy.
  • Risk.
  • Human Talent.
  • Internal and Shared Services.
  • Corporate Responsibility (Sustainability and Social Management).

RICARDO JARAMILLO
MEJÍA
Chief Financial Officer

Gerencias a cargo:

  • Investors Relations.
  • Accounting.
  • Treasury.
  • Tax matters.
  • Investment Management.
  • Projects and New Businesses.

JUAN LUIS MÚNERA GÓMEZ
Chief Legal Officer and Corporate Secretary

Direcciones a cargo:

  • Corporate Legal Issues.
  • Financial Legal Matters and Investments.
  • Compliance.
  • Corporate Secretariat.
  • The Communications and Corporate Identity Management reports to the Presidency.
  • The Internal Audit, functionally, reports to the Board of Directors, and administratively, to the Presidency.
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structure of
administration

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VER IMAGEN
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Financial
Conglomerate
SURA-Bancolombia

For the purpose of the expedition of issuance of the decrees and other regulations that govern the Ley de Conglomerados Financieros en Colombia (Financial Conglomerates Law), in Colombia, Grupo SURA, as a financial holding Company, continued to lead a Plan of Action, with all the Companies who became part of the Conglomerado Financiero SURA (SURA Financial Conglomerate). The aforementioned, assumed the challenges entailed, in the implementation of the new guidelines, contained in these regulations, especially in Corporate Governance, risk management, conflict of interest management, and capital adequacy.

Grupo SURA actively participates in the formal spaces for dialogue, that the Colombian Government has arranged, to build these guidelines, in order to have adequate regulation, adjusted to international standards, and to the local context of financial industry, also adhering to normative issues of the countries, where the Companies of the Organization operate.

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Milestones of
our financial
managemen

We continue to develop tools that allow us to strengthen the financial strategy, seeking to achieve the goals of generating value and profitability.

We move forward in our process of deleveraging and optimizing the capital invested.

We seek efficiencies and deepen knowledge in a comprehensive financial function between the holding company and its subsidiaries.

Comprehensive
cycle
of financial
resources
management

Relevant
transactions
in 2018

SURA Asset Management

Agreed in March to sell the annuities business in Chile, to focus on strengthening its core pension, savings and investment businesses. The operation amounts to about USD 214 million.

Seguros SURA México

Obtained in October the last necessary authorization to acquire the life solutions business of SURA Asset Management in that country, announced since November 2017.

This strengthens the growth opportunities of each Company in the business in which they are experts and an orderly transition is underway to ensure continuity of service for customers.

Caisse de Dépôt et Placement du Québec (CDPQ)

Canada's second largest pension fund manager, becomes a strategic partner of Grupo SURA in SURA Asset Management. CDPQ agreed in December to purchase USD 247 million of 6.68% of the shareholding that Banco Agrícola (subordinated to Bancolombia) and International Investments (a subsidiary of Grupo Wiese, of Peru) have held to date. The approval of the Mexican regulator is expected to complete the operation.

Financial
Statements
as of
December 31, 2018

Consolidated
Financial
Statements 2018
VIEW PDF
Separate
Financial
Statements 2018
VIEW PDF

Milestones of
our financial
managemen

We continue to develop tools that allow us to strengthen the financial strategy, seeking to achieve the goals of generating value and profitability.

We move forward in our process of deleveraging and optimizing the capital invested.

We seek efficiencies and deepen knowledge in a comprehensive financial function between the holding company and its subsidiaries.

Comprehensive
cycle
of financial
resources
management

Relevant
transactions
in 2018

SURA Asset Management

Agreed in March to sell the annuities business in Chile, to focus on strengthening its core pension, savings and investment businesses. The operation amounts to about USD 214 million.

Seguros SURA México

Obtained in October the last necessary authorization to acquire the life solutions business of SURA Asset Management in that country, announced since November 2017.

This strengthens the growth opportunities of each Company in the business in which they are experts and an orderly transition is underway to ensure continuity of service for customers.

Caisse de Dépôt et Placement du Québec (CDPQ)

Canada's second largest pension fund manager, becomes a strategic partner of Grupo SURA in SURA Asset Management. CDPQ agreed in December to purchase USD 247 million of 6.68% of the shareholding that Banco Agrícola (subordinated to Bancolombia) and International Investments (a subsidiary of Grupo Wiese, of Peru) have held to date. The approval of the Mexican regulator is expected to complete the operation.

Financial
Statements
as of
December 31, 2018

Consolidated
Financial
Statements 2018
VIEW PDF
Separate
Financial
Statements 2018
VIEW PDF

Advances
of the
SURA Business Group
on four fronts

1

Strengthening
leadership

2

Attraction and
loyalty

3

Development of
talent

4

Creation of
well-being

view Featured facts

Featured facts:

The Occupational Health and Safety System was implemented with coverage for collaborators, contractors and suppliers in Colombia. Practices were also established that fulfill this same objective in the Companies of the other nine countries in which SURA has a presence.

The development program was extended to commercial teams, with the training of more than 400 leaders in six countries.

The different training programs, for leaders in all countries, were continued, appropriating common basic concepts, and strengthening our corporate culture.

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Key
indicators

Training

Total investment in training:
USD 6,266,009

Total hours of training:
1,123,187

Average investment
per employee:
USD 214

Training hours
per employee
(total annual average and per Company 2018)

SURA Business Group:
38

Suramericana:
34

SURA Asset Management:
50

Grupo SURA:
64

View indicadores

GEOGRAPHAL
DISTRIBUTION
OF COLLABORATORS

Distribution
by age

Indicators,
by gender
of
SURA business group

GEOGRAPHAL
DISTRIBUTION
OF COLLABORATORS

view more

Distribution
by age

view more

Indicators,
by gender
of
SURA business group

view more
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Innovation
System

USD 32.3 millon
invested through SURA Ventures (2016-2018); 3 investments in 2018, after analyzing 154 companies.

2 alliances
potential development between SURA Ventures companies and the financial services companies of the Grupo SURA portfolio.

2 projects
in progress, to generate new sources of income, with the potential to become new companies.

What is SURA Ventures? Portfolio of
SURA Ventures

This is how we do

Sustainability for Grupo SURA is the ability to rethink, anticipate, ask the right questions and manage risks to face the challenges of a competitive environment, based on our corporate principles.

We manage
risks and
opportunities

MORE INFORMATION HERE
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We adopt
responsible
practices

responsible practices

The way we achieve our results is as important
as the results themselves.

Commitment to
eco-efficiency
Committed to
respect for
Human Rights

responsible practices

The way we achieve our results is as important
as the results themselves.

Commitment to
eco-efficiency
Committed to
respect for
Human Rights
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We engage
stakeholders

We consider our stakeholders
in decision making

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We foster
corporate
streghthening

institutional strengthening

We work hand in hand with organizations, institutions and governments, providing resources, knowledge and talent, without compromising particular interests, to reflect, investigate and positively influence the construction of public policies that promote the development of the countries where we are present.

Meet some of our main allies here:

  • Asociación Nacional de Empresarios de Colombia (ANDIndi).
  • Asofondos(Colombia).
  • Asafondos (El Salvador).
  • Asociación de Administradoras de Fondos de Pensiones de Chile.
  • BID Invest (investment branch for the private sector of the IDB – Inter-American Development Bank).
  • Consejo Empresarial de la Alianza del Pacífico (CEAP).
  • World Business Council for Sustainable Development (WBCSD).
  • Consejo Privado de Competitividad (Colombia).
  • Corporación Excelencia en la Justicia (Colombia).
  • Corporación Transparencia por Colombia.
  • Federación de Aseguradores Colombianos (Fasecolda).
  • Fundación Empresarios por la Educación (Colombia).
  • Fundación Endeavor Colombia.
  • Fundación para la Educación Superior y el Desarrollo (Fedesarrollo).
  • Fundación Ideas para la Paz (Colombia).
  • Fundación para el Progreso de Antioquia (Proantioquia).
  • Fundación Solidaridad por Colombia.
  • United Nations Environmental Program for Financial Initiatives (UNEP-FI).
  • United Nations Global Compact.
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We contribut
e to social
development

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Reputation
and trust

Reputation and trust is one of the strategic pillars of Grupo SURA, understood as the result of fulfilling the promise of value, based on good practices, based on ethical principles and developing long-term relationships with stakeholders.

Radar of
communication
trends

A RADAR OF TRENDS IN COMMUNICATION WAS BUILT

know more about
the fundamentals
of communication
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Featured
facts

Featured facts 2018

  • In the brand digital architecture component, the integrated portals of the businesses of our subsidiaries were launched in Mexico, Uruguay and Colombia (Insurance, ARL and EPS).
  • The Policy Framework for Risk Management and Reputational Crisis was updated and approved, with the scope of the Business Group.
  • The indicator of knowledge and familiarity of the brand continued to grow in six of the 10 countries where SURA has presence.
  • An own reputation study was carried out that consulted the perception of our stakeholders in dimensions and key attributes to position the Companies.
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Reputational risk
management

knowledge
of brand
familiarity

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Some
recognitions
in 2018 that
build
reputation

  • Grupo SURA ranked 52 in the world and 4 in Latin America within the organizations considered "the best to work in the world," according to Forbes magazine.
  • Suramericana, seventh among 25 multilatinas highlighted as best places to work, according to Great Place to Work.
  • SURA went from 8th to 4th place in the Merco ranking, in Colombia, of companies with a better corporate reputation and rose from 9th to 7th place in Merco Talento.
  • Afore SURA Mexico obtained the highest rating of the investment firm Morningstar for managing funds for retirement.
  • Afore SURA and Seguros SURA Mexico ranked third among 500 companies in the Corporate Integrity ranking, an initiative of the Mexican organization Against Corruption and Impunity.
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Annual report 2018