Moody’s maintains SURA Asset Management’s Baa1 credit rating and highlights its financial strength

  • The strategy with which the Company has reduced its indebtedness in recent years has allowed it to maintain a moderate financial leverage, according to this rating agency.
  • The stable outlook given reflects SURA Asset Management's ability to maintain a leadership position in most of the countries where it operates.
  • SURA Asset Management remains three notches above an investment grade.

SURA Asset Management, a subsidiary of Grupo SURA and an expert player in the retirement savings, investment and asset management industry received its updated credit rating from Moody's, this remaining at Baa1 along with a stable outlook, based on the Company's financial performance for the first half of this year.

In its report, Moody's highlighted SURA Asset Management's leadership position in Latin America with regard to its Retirement Savings business. It also highlighted its substantial client base of 21.6 million clients in six countries throughout region as well as the Company's moderate financial leverage, compared to its global peers; in fact, SURA Asset Management reduced its indebtedness by USD 60 million on a year-to-date basis, at the end of Q1 2022. Another aspect highlighted by this rating agency is the important amount of assets under management that were maintained in spite of the withdrawals authorized in 2020 and 2021 in countries such as Chile and Peru.

In this respect Ignacio Calle, CEO of SURA Asset Management, stated: "Maintaining our credit rating above an investment grade only goes to ratify our long-term strategy of financial sustainability. This has allowed us, for example, over the last ten years (2012 - 2021), to be able to pay shareholder dividends in the amount of USD 1,200 million while increasing our volume of AUM from USD 107 billion in 2012 to USD 142 billion in 2021. Undoubtedly, this rating comes as a vote of confidence in continuing with our strategy as an investment manager. 

It is worth mentioning that Moody's decision comes in the midst of a challenging situation, since the global economy has undergone various adverse events during the last few months, including high inflation levels, the conflict between Russia and Ukraine and the volatility prevailing over the different financial markets.

About SURA Asset Management
SURA Asset Management is an expert player in the Latin American  retirement savings, investment and asset management industries present in Chile, Mexico Colombia, Peru, El Salvador, Uruguay, the United States and Argentina. Being subsidiary of Grupo SURA, it also has several minority shareholders. At the end of Q1 2022, SURA Asset Management held a total of USD 150 billion in assets under management belonging to 21.6 million clients throughout the region*.

 * Client and AUM data includes AFP Protección  in Colombia and AFP Crecer in El Salvador, where SURA AM holds a significant but not a controlling stake.