Incorporation of Subsidiaries
In compliance with the duties to disclose material information, Grupo de Inversiones Suramericana S.A. (Grupo SURA) hereby reports the incorporation of subsidiaries in Peru, Colombia and Bermuda, as follows:
CAUTIVA SURA LTD., reinsurance company incorporated in Bermuda, which will provide reinsurance to the insurance subsidiaries of Suramericana S.A., in order to generate synergies and help optimize their reinsurance capacity. The share of Grupo SURA in this corporation is made indirectly through its subsidiary Suramericana, which hold 100% of stock on it. The value of the investment in this company was USD 13.7 million.
INVERSIONES SURA BRASIL S.A.S., special purpose vehicle based in Colombia, incorporated to acquire the shares of Royal & Sun Alliance Insurance (Brasil) S.A.; its main purpose is the holding of shares in regulated Brazilian companies, such as insurance and reinsurance companies, according to the laws of the country. The share of Grupo SURA in this corporation is made indirectly through its subsidiary Suramericana, which hold 100% of stock on it. The value of the investment in this company was approximately USD 45,000.
SOCIEDAD AGENTE DE BOLSA SURA S.A., a broker company incorporated in Peru, established in order to strengthen the voluntary business in that country, which recently obtained a license to operate. The share of Grupo SURA in this corporation is made indirectly through its subsidiaries SUAM Peru and SUAM S.A.S., which collectively hold 100% of stock on it. The value of the investment in this company was approximately USD 660,000.