Suramericana Confirms Purchase of Salvadoran Insurer

The insurance subsidiary of Suramericana Investment Group will invest $100 million to acquire insurer Asesuisa.

Friday, February 4, 2011

The company hopes to conclude negotiations by next March.

The acquisition is part of the company´s expansion plans, said company president, Gonzalo Pérez.

Reuters reports, "This is the second acquisition of Suramericana Insurance so far this year, after the insurer bought Proseguros in January, a company located in Dominican Republic."

More on this topic

Sura Paid $96 million for Seguros Banistmo

September 2015

Colombia's Grupo Sura has concluded the purchase of 100% of Seguros Banistmo and has started procedures in Panama to merge both companies.

From a statement issued by Grupo Sura:

In compliance with the duties of disclosure of relevant information, Grupo de Inversiones Suramericana SA informs that today its subsidiary Suramericana SA has completed the acquisition of 100% of the shares of Seguros Banistmo, SA, an insurance company organized and existing under the laws of the Republic of Panama, which belonged to Banistmo SA, a subsidiary of Bancolombia SA

Colombians Looking to Expand in the Region

May 2012

Panama and El Salvador are seen by Grupo Sura as countries "with political, social and macroeconomic stability" for their expansion projects.

The president of Colombia's Grupo Sura, David Bojanini, said his holding company plans regional procurement in countries that provide economic, political and especially legal security.

Suramericana Purchases Insurers in El Salvador

November 2010

Before the end of the year the company expects to close the purchase of Asesuisa y Asesuisa Vida and pension fund manager AFP Crecer.

This was informed by company CFO, Andrew Bernal, to Bnamericas.com.

"Suramericana will acquire AFP Crecer through its unit AFP Proteccion, the second largest manager of private pension funds in Colombia."

Panamanian Group Acquires "Nacional de Seguros"

July 2010

A group of Panamanian businesses has bought a 100% stake worth $2 million in the insurance company "Nacional de Seguros"

The insurer began operating in Panama as "Premier de Seguros" in 2007, owned by a Venezuelan group with the same name.

The new owners clarify that, "the company now has no relationship whatsoever with the Venezuelan insurer Premier, which was placed in administration this year and liquidated due to lack of financial capability," reports Prensa.com.

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