SURA GREW ITS PROFITS 114% IN THE FIRST SEMESTER

SURA GREW ITS PROFITS 114% IN THE FIRST SEMESTER

The Antioquian insurance company, member of the GEA (Spanish acronym for Antioquian Business Group) presented its profits of the first semester of 2012.

The balance sheet showed a 114% increase on the net incomes of the company for the first semester of the year, reaching the 329.785 million COP$. According to the company the great results presented in this report were thanks to two very important business lines inside the holding.

The first one was the net incomes generated by the insurance company and social security company part of the holding, called Suramericana S.A.; and the second was the net incomes contributed by the pensions, savings and investment company part of the holding, called Sura Asset Management. The most important contributions were the 151.245 million COP$ generated by the patrimony participation method and the 146.552 million COP$ generated by the business line that reports dividends and investment interests.

Sura is forwarding a plan to diminish the indebtedness and the credit clearing of the transitory credits acquired to finance the acquisition of the ING assets in the region.