• Grupo SURA's shareholders approved the Proposed Spin-Off, thereby completing another milestone in the form of a transaction that will allow the Company to move forward with focusing its portfolio on the financial service sector.
• Income for 2024 reached COP 6.1 trillion, of which COP 2.4 trillion corresponded to recurring income, along with an adjusted return on equity of 12.3%, thereby evidencing the positive level of performance of both Grupo SURA and its investments.
• The General Assembly of Shareholders declared a dividend of COP 1,500 per share, which was 7.1% higher than for 2024 this for a compound annual growth rate of 18.2% from 2019. 

This last Friday, the Annual Ordinary Meeting of Grupo SURA's General Assembly of Shareholders was held at the Plaza Mayor, in Medellín, at which the Proposed Spin-Off, the proposed distribution of dividends for 2025 and the Financial Statements for 2024 were all approved. The Company maintained a sound level of performance at the end of last year and, based on the strength of its investment portfolio, shall continue on a path towards greater profitability on the part of its different businesses and the deepening of a footprint that now reaches 10 countries with more than 76.5 million customers in Latin America.

"We, at Grupo SURA, are grateful for and recognize the lessons learned from our cross-shareholding structure, a structure that drove the growth of our Company and helped us forge a business philosophy that has endured the test of time. We are optimistic about the future in this new phase, because we have the knowledge, talent and scale to continue to drive the profitability of our different businesses while deepening our business footprint, this always with a long-term vision. Our commitment is to continue consolidating Grupo SURA as a benchmark in its sector, based on a powerful portfolio of sound, leading investments that create value and well-being for millions of people," stated Ricardo Jaramillo Mejía, Grupo SURA’s Chief Executive Officer .

Projected Spin-off
The General Assembly of Shareholders  approved the Projected Partial Spin-Off by Absorption presented by the Company, in order to move forward with a transaction in conjunction with Grupo Argos and its subsidiary Cementos Argos, which shall reorganize the Company´s shareholding structure and put and end to the current cross-shareholdings. Once this process is completed, Grupo SURA shall be a Company with a more simplified structure and a more specialized portfolio, with three main investments in the region´s financial service sector namely, SURA Asset Management, Suramericana and Bancolombia.

All of this creates a virtuous circle that benefits our shareholders, the Company and the market at large in the following manner:

• Benefits for shareholders At the end of this transaction, all Grupo SURA´s shareholders shall see their stakes increase by an estimated 20%, this as a result of a lower number of outstanding shares. They shall also become direct shareholders of Grupo Argos.
• Benefits for Grupo SURA After this process is carried out, the Company will have a more simplified shareholding structure while continuing to specialize its financial service portfolio, in keeping with investor expectations and market trends. This will facilitate the disclosure of value and increase the ability to attract capital and new investors.
• Benefits for the market. This transaction shall increase the float and promote greater share liquidity, which is a determining criterion for Grupo SURA's admission into global stock market indexes. These factors could lead to better share price formation and allow our shares to increasingly reflect the Company’s fundamental value.

After authorization is obtained from the Colombian Superintendency of Finance, this transaction is expected to be completed by the end of 2025 or the beginning of 2026,  For more details, please click here for the informative video 

Approval of the 2024 Financial Statements and projections for 2025
The General Assembly of Shareholders also approved the Company's financial statements for 2024, which reflect the profitable growth of all our portfolio businesses at the end of the year. Grupo SURA consolidated a controlling net income of COP 6.1 trillion which, upon excluding the effects of the Nutresa transaction, reached COP 2.4 trillion, a record figure that is 24.6% higher than for the previous year. This reflects the growth in premiums on the part of Suramericana, higher fee and commission income in the case of SURA Asset Management as well as revenues obtained via the equity method from Bancolombia (COP 1.5 trillion) and Grupo Argos (COP 766 billion).

Based on this level of performance, this year Grupo SURA projects to consolidate recurring income of between COP 1.7 trillion and COP 1.9 trillion, that is to say, between COP 5,300 and COP 5,800 per share, along with a return on equity of between 10% and 11%. We also expect to receive COP 2.2 trillion in cash, including dividends receivable from our investments, 90% of which is sourced from our financial portfolio. With this, the Company shall continue to have the financial strength and flexibility for continuing to move ahead with our strategy. 

Dividends declared
The General Assembly of Shareholders approved a dividend payment of COP 1,500 per share, which is 7.1% more than the previous year. This dividend shall be paid in four equal installments (COP 350 per share) on the following dates: April 23, July 15 and October 15, 2025, and January 15, 2026.

This increase reaffirms the upward trend of the paid dividend, which has historically grown above the level of inflation in Colombia. In fact, looking back to 2005, over the last 20 years, our dividend has multiplied 9 times, and since 2019 it has recorded a compound annual growth rate of 18.2%.