The Sura Group and the Argos Group, two of the three columns that formed the call Antioqueño Union or Antioqueño Business Group (GEA), together with the Nutresa Group, an organization that was not legally constituted as such, but referred to a group of companies that in the late 70s of the last century agreed to have property crosses to avoid hostile shots of other groupsthey finished separating their cross shares, to focus on their businesses.
This was announced to Portafolio Ricardo Jaramillo Mejía, president of the Sura Group, who spoke in addition to the options against an OPA by Bancolombia and about the great challenges of the future that the country has.
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How did the process of separation of cross properties between Grupo Sura and Grupo Argos end?
We are happy with the results. When we design the process we are looking for it to be with equity efficiency and that it would give value to 100% of the shareholders and materialize those premises. It was a good valorization and the shareholders received $ 20 billion after operations.
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We are in the process of including Sura Grupo Action in some international stock market indexes and is a good time to materialize the benefits of the transaction. We will focus on financial services because there are opportunities in the 10 countries in which we are with the 76 million customers we have. From the announcement of the operation, on December 18, 2024, to date, the assessment of the shares shows that if a person had $ 1 million in titles, today it would have, for the valuation, $ 1.7 billion in the ordinary and $ 2.07 million in the preferential.
Sura Group
Private archive
And the three sectors in which this Sura Group?
In the insurance sector, with South American, businesses total $ 20 billion, with Sura Asset Management, has active administration for $ 750 billion, in pensions with 85% and investments and savings with 15%. The other vertical is the investment in Cibest, which is the Bancolombia matrix, the largest bank in the country and that is in other nations and that is increasing the penetration of the business with investments in technology and talent.
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In addition, you always have to analyze the inorganic opportunities to grow and have seen other markets and we will keep it.
Do you plan to make emissions of actions or bonds?
We do not think about shares emissions. What was seen after the process of separating cross shares with Grupo Argos is necessary to decant it and look at the issues of property structure. In debt emissions we look at how to optimize the indebtedness of Grupo Sura and the companies. Recently we issued a debt bonus that had an overdexanda four times in its value and we see local and bank opportunities to see the optimal.
Sura Group.
Private archive
What business forecasts have for this year?
Organic growth is the focus and we optimize the business footprint. A few years ago we recorded a volume of $ 8 billion and this year we hope they are $ 30 billion in all businesses, in the 10 countries in which we are.
Will they expand to other countries?
Our strategic region is Latin America and we increase channels in the main countries. In the long term we analyze other geographies where we will have an important role what to do. In addition, we want to be careful in the capital allocation for rent.
Now that they are open, could public acquisition (OPA) offers come to seek to keep companies like Bancolombia?
They are companies listed in the stock market and while they can be available for an investor to buy shares. But we must guarantee that any acquisition is for the benefit of 100% of the shareholders and to the fair value.
It must also be said, and that is that the Government through the Financial Regulation Unit (URF) is developing the opas rule to guarantee the rights of all shareholders and also, in our statutes we have had advances to ensure that any purchase proposal is fair for all those who own shares.
How are other businesses developing?
In pensions we are in five countries. In Mexico, Colombia, Peru and Chile there are pension reforms and have validated the role of the private actor and that is important. These reforms collect the aging, birth variables and have better pensions. In Mexico, for example, the contribution of 6.5 to 15% was uploaded and the implementation in 10 years, in Colombia we prepare to our Fund Protection for the Reform and we will see the decision of the Constitutional Court in this regard and the day to day of the implementation. We look at regulatory developments and how we contribute to have more sustainable systems.
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In Sura Asset Management we see those developments in the sector and investments with Sura Investments.
In the insurance sector we are in seven countries and with developments in Colombia that we take to other countries in life, mobility, companies, health, technological channels and pet insurance, because we look at consumption habits in the world to adapt the offer of products to countries and customers.
In Bancolombia, with the transformation with Cibst, it allows to improve capital management and the process of readquisition of shares for $ 1.3 billion, which brings us benefits and technological developments with Nequi, Wenia, Wompi and see how to contribute to synergies and with the client in the center.
And the political and economic situation in Colombia …
There is uncertainty in the world and Colombia and we have a fundamental role of inviting calm and prudence and being pragmatic for what is coming in the country. We see that as a country we have issues that work urgently such as health, energy security, security and tax situation. With any president who comes we must join to work in the country. We have ready teams to see how to help.
Holman Rodríguez
Portfolio writing
