August 14, 2019 / 10:53 PM / 11 days ago

Colombia insurance giant Grupo SURA says profit up 2.3% in Q2

BOGOTA, Aug 14 (Reuters) - Net profit at Colombian insurance conglomerate Grupo SURA rose 2.3% in the second quarter to 390 billion pesos ($114.5 million) compared with the same period last year, the company said on Wednesday.

The slight uptick was due to good returns for companies where SURA has investments and lower spending on interest payments, the company said in a filing to the country’s financial regulator.

Revenue was up 14.1% between April and June to 5.46 trillion pesos, said holding SURA, which has investments in bank Bancolombia, food producer Grupo Nutresa, industrial conglomerate Grupo Argos and insurance and pension companies Seguros SURA and Sura Asset Management, among others.

Its total earnings before interest, taxes, depreciation and amortization were up 45% during the quarter to 391 billion pesos.

The company has financial, insurance and other assets in ten Latin American countries. ($1 = 3,407.76 Colombian pesos) (Reporting by Luis Jaime Acosta Writing by Julia Symmes Cobb Editing by Rosalba O’Brien)

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