Grupo Sura 1Q 2026 Net Income Dips 1.9% Year-on-Year
Medellin-based insurance and financial services giant Grupo Sura on May 14 reported a 1.9% year-on-year decline in first quarter (1Q) 2026 net income, at COP$509 billion (US$140 million), versus COP$519 billion (US$143 million) in 1Q 2025.
The relatively stable net income came despite an extraordinary wealth tax of COP$227 billion (US$62 million), “which was absorbed by investments during the first quarter,” the company noted.
“Before this [wealth tax] effect, net income attributable to controlling interest stood at COP$735 billion (US$202 million),” which would have meant a 44% boost in 1Q 2026 net income versus 1Q 2025.
As for its “Suramericana” unit, this group posted net income of COP$202 billion (US$55 million), “remaining stable compared to the previous year and mitigating an impact of COP$84 billion [US$23 million] associated with the extraordinary wealth tax,” according to Sura.
“Premiums written grew by 7.2%, driven mainly by the Life segment, which continues to grow at a double-digit rate thanks to the strong performance of voluntary health and workers’ compensation solutions.”
As for the Sura Asset Management division, this unit “maintained strong momentum during the quarter, with double-digit growth in fee income and assets under management,” according to Sura.
Net income attributable to Sura’s controlling interest in Suramericana reached COP$267 billion (US$73 million), “growing 13.8% and allowing the company to absorb the impact of the wealth tax of COP$70 billion [US$19 million],” Sura noted.
Fee income at Sura Asset management grew 12.5%, “totaling COP$1.1 trillion [US$302 million], according to Sura.
As for Sura’s partial holdings in Cibest Group (Bancolombia), Sura noted a 6.5% increase in Cibest’s gross loan portfolio, reaching 9.6%, “accompanied by a 27 basis point improvement in its net interest margin, which stood at 7.03%, reaffirming the strength of the banking business in Colombia,” according to the company
