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."

Asesuisa y Asesuisa Vida are leading companies in the insurance sector in El Salvador.

Source: bnamericas.com

More on this topic

El Salvador: Suramericana authorized to buy Asesuisa

October 2012

The Superintendency of the Financial System in El Salvador (SSF), has authorized the company Suramericana SA to buy insurer Aseguradora Suiza Salvadoreña S.A. (Asesuisa).

The purchase of the leading insurer Aseguradora Suiza Salvadoreña S.A. by Suramericana SA was announced last year in 2011, but has been awaiting authorization from the competent authorities.

Household Appliances Chain Sold for $200 million

September 2012

Unicomer Group, owned by the Salvadoran company Siman and the Mexican company El Puerto de Liverpool SAB, have finalized the purchase of the Costa Rican home appliance chain Gollo.

According to an article in Elfinancierocr.com, Gollo chain stores have "113 outlets, 68,000 square feet of sales area, more than 350,000 customers and 1,500 employees.

Insurance Merger Authorized

June 2012

The Competition Superintendence in El Salvador has approved a merger between Seguros Suramericana, S. A. and Aseguradora Suiza Salvadoreña, S. A.

A statement from the Competition Superintendence in El Salvador reads:

SC allows merger between insurers ASESUISA y Suramericana

Grupo Calleja Pulls Out of Almacenes Europa Purchase

February 2012

The application for authorization for economic concentration by Grupo Calleja with the Superintendency of Competition in El Salvador has been withdrawn after negotiations were broken off.

A press release from the Superintendency of Competition in El Salvador states:

Lawyers representing Grupo Calleja who filed a request for authorization for economic concentration resulting from Calleja’s purchase of Europa S.A.