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Grupo Sura insurance units complete merger

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Grupo Sura insurance units complete merger

Seguros De Vida Suramericana SA has completed its absorption of Seguros de Riesgos Laborales Suramericana SA, parent company Grupo de Inversiones Suramericana SA said.

The internal restructuring was approved by the boards of both entities in July 2018. At the time, Grupo Sura said the move will lead to greater capital efficiency given the complementary nature of the companies' financial structures.

The merger does not entail any changes to the management or service models of the two entities. Grupo Sura's labor risk business will continue to operate under the ARL SURA brand, the company said.