Superfinanciera sanctioned Sura for indirect investments between subsidiaries of the group

Grupo de Inversiones Suramericana announced that it was sanctioned by the Financial Superintendence of Colombia (SFC) for allegedly failing to comply with the regulations that regulate the capitalization regime. In this regard, the company of the Grupo Empresarial Antioqueño (GEA) affected, announced legal resources to reverse said decision exposed through Resolution 399 of 2022.

The same issuer assured that, in order to strengthen the capital of the subsidiaries belonging to Suramericana and Sura Asset Managemente, indirect investments were made in the capital of these subsidiaries, which in turn involved Grupo Bancolombia, a GEA company and the which, the same insurance and investment company owns 46.11%.

According to the company, through these subsidiaries activities are carried out in different Latin American countries, in addition to supporting the continuous growth of the voluntary savings business. Likewise, it points out that these movements were made with the intention of optimizing the distribution of capital within both conglomerates.

The financial movements would have occurred between March 26, 2019 and end on June 19, 2020, so the process is just beginning.

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