Suramericana gets access to new markets in Latin America


Suramericana is based in Medellín, Colombia.

18th September 2015

by David Ramirez
Suramericana S.A., the largest insurer in Colombia and Central America, has just achieved a significant milestone after acquiring the Latin American assets of UK-based RSA Insurance Group.
Once approved by regulators in the course of 2016, the $614 million transaction will turn the 70-year old, Medellin-based insurer into a larger multilatina, with over $3.3 billion in premiums (as of end-2014) diversified into property, health, life, automotives and other risks, with nearly 14,000 employees, and presence in Argentina, Brazil, Chile, Colombia, Dominican Republic, El Salvador, Mexico, Panama and Uruguay.
To understand more about the rationale and implications of the acquisition for Suramericana, Latin Trade spoke with the company’s President, Gonzalo Perez Rojas.
What it the main benefit of the acquisition to Suramericana’s operations and its shareholders?
The acquisition of RSA endows us with an extended regional platform to provide our multinational and multilatina clients with effective solutions in the markets where we will be present. From another angle, the deal give us tremendous and improved  knowledge over the needs of nearly 440 million people, so that we can design better solutions for our individual clients. As for the benefits to our shareholders, the acquisition brings added competitiveness and sustainability to Suramericana.
Why did you target RSA of all opportunities you were evaluating?
There was hardly a better option for us …

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