July 19, 2018 |
Grupo Sura said in a statement that it aims to absorb affiliates Grupo de Inversiones Suramericana Panamá and Gruposura Finance under its primary Colombian banner.
The local insurer received regulatory approval for the amalgamation on Wednesday, Sura said in a securities filing.
Earlier in July, Grupo Sura also started the process of merging its life and workers compensation divisions, according to a report from Credicorp Capital.
Boards of both units authorized their management teams to fuse
Colombian insurer gains regulatory approval to fuse companies together