BRC Ratings reaffirmed its ‘AAA’ rating of our subsidiary Suramericana for the ninth consecutive year

INSURANCE RATING STRENGTH Suramericana
  • This note evidences this subsidiary´s financial strength and leadership in the Colombian insurance sector.
  • Suramericana maintained this same rating for its ordinary bonds amounting to COP 1 trillion on the main market as well as those worth COP 260 billion on the secondary market.

The credit rating agency BRC Ratings, a company belonging to S&P Global, ratified for the ninth consecutive year its 'AAA' rating for Suramericana S.A., as well as for its long-term debt in the form of ordinary bonds amounting to COP 1 trillion on the main market and another COP 260 billion in the secondary market. This reaffirms the strength and reliability of its financial structure, as well as the operating efficiency efforts of this subsidiary of Grupo SURA.

"This rating reflects the Company's performance over the years, in which we have complied with the required coverage indicators for our indebtedness and improved our solvency indicators, which have become increasingly demanding given the various regulations governing the countries where we operate," stated Juan Fernando Uribe, Suramericana's Chief Finance and Investments Officer.

These independent ratings, based on our specialized knowledge of the insurance sector, are a source of feedback and guidance for the companies evaluated as well as a  reference for local and international investors.

In this sense, Suramericana has positioned itself as one of the most robust insurers in terms of economic and financial profitability, projecting high levels of confidence to its clients, creditors and investors, based on its history and growth potential in Latin America.

 

About Suramericana:
With 8 decades of experience, Suramericana S.A. is a specialized insurance and risk/trend management company. While being a subsidiary of Grupo SURA (which holds an 81.1% stake in its share capital), it also enjoys the backing of the German reinsurance firm, Munich Re (which holds the remaining 18.9% stake). The Company is a multi-solution, multi-channel and multi-segment platform through its Seguros SURA (insurance) subsidiaries in seven Latin American countries (Colombia, Chile, Panama, Brazil, Mexico, Dominican Republic and Uruguay), where it aims to deliver sustainable well-being and competitiveness to each of its nearly 20 million customers, including individuals and companies.