The Antioqueño Business Group seeks to expand in Panama

Suramericana de Inversiones, from the Antioqueño Business Group, could increase its share participation in Interoceánica de Seguros, its competitor.

Tuesday, February 3, 2009

AmericaEconomica.com reports on its website: "The biggest industrial conglomerate in Colombia, the Antioqueño Business Group, has decided to deal with the international crisis by making acquisitions. Their objective: competitors in Panama of their insurance agency, Suramericana de Inversiones.

Specifically, the company plans to spend $200 million on these corporate operations. All eyes are on Panamanian insurer, Interoceanica, where Suramericana is already a shareholder."

More on this topic

"Seguros Suramericana" Presented in Panama

August 2009

"Interoceánica de Seguros", an insurance company, launched a new corporate identity, and is now called "Seguros Suramericana".

"Interoceánica de Seguros" has been a property of Colombian group "Grupo de Inversiones Suramericana" for the past 11 years.

"The insurer's strengths in Panama are the vehicle and life insurance markets, with a 11.9% and 6.9% share respectively", said Salvador Morales Baca, general manager of Seguros Suramericana in Panama.

Interoceánica says auto insurance sales up 85 percent

June 2008

Panama's Interoceánica de Seguros reports that its auto insurance sales have increased by 85 percent so far this year compared with the same period of 2007.

Salvador Morales Baca, the company's general manager, said auto insurance was a risky though profitable business.

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Seguros Suramericana Panamá

Organization that operates in Panama.
Phone: (507) 205-0700

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