70 SURAMERICANA
years
In December 1944, the Compañía Suramericana de Seguros Generales (now known as Seguros Generales Suramericana) came into being, giving rise to a long-standing business philosophy that has transcended geographical borders. Its beginnings reflected the commitment of its founders to the development and competitiveness of the industry, with 32 companies and 150 shareholders coming together to set up an insurance company, which from the very outset has been driving the Colombian financial sector thanks to its sound ethical principles. The initial vision with the passing of time converted into a management model able to read and interpret the local business environment and anticipate and respond to changing market demands Thus, in the early 90s, due to structural changes in the Colombia’s Social Security System, new opportunities arose for private companies and consequently Suramericana became an important player in the health, labor risk and penson sectors through its subsidiaries at that time SUSALUD, SURATEP and AFP Protección.(the first two now known as EPS SURA and ARL SURA), Thus the Company began to build up a comprehensive portfolio of insurance and savings solutions for its Colombian clients. In 1997 , considering the growth and diversification of its investment portfolio , the Company spun off its insurance business giving rise to its parent company Suramericana de Inversiones ( today known as Grupo SURA ) , whereupon it issued stock on the Colombian Stock Market, while continuing with the same corporate philosopy that it has always applied to its investments and business growth. Later, in 1999 , Inversura (today known as Suramericana S.A.) , came into being, this the holding company for its insurance and social security subsidiaries. This was yet another step in structuring a more streamlined portfolio that shareholders could understand more clearly. So it was the initial insurance company that gave rise to the SURA Organization. A seed that bore fruits with its SURA brand, providing value and inspiring confidence in what is now a total of eight Latin American countries, becoming a hallmark of support and peace of mind to all those it comes into contact with. Thousands of people, who throughout its 70 years of history have contributed their grain of sand to the SURA project, making transparency , respect , responsibility and fairness , a legacy of important personal and business values. The Company has been steadily building up its leading position, which shall surely remain as relevant tomorrow as it is today. Grupo SURA would like to congratulate Suramericana S.A. and its subsidiary Seguros Generales Suramericana on the occasion of its 70th anniversary making special mention of its contribution to the business community.
SURAMERICANA CELEBRATES ITS 70TH ANNIVERSARY
ANNUAL REPORT 2013 / 29