© Reuters. FILE PHOTO: The Grupo Sura brand is seen at its headquarters in Medellin, Colombia February 27, 2018. REUTERS/Fredy Builes
(Reuters) – Web revenue at Grupo SURA, Colombia’s largest funding firm, practically doubled within the first quarter from a 12 months earlier, the corporate stated in a press release on Monday, pointing partly to favorable alternate fee fluctuations.
Web revenue for the quarter was 834.3 billion pesos.
In keeping with the corporate’s earnings report, quarterly income rose practically 40% to 9.6 trillion pesos, due to a 30% enhance in premiums and better commissions.
“The outcomes for this era mirror the better devaluation of the Colombian peso in opposition to different currencies within the area and the consolidation of AFP Proteccion (pension fund),” the corporate stated in its quarterly earnings report.
The report famous that the weakening of the Colombian peso in opposition to different currencies during which SURA operates led to “better progress in all monetary assertion strains” for the Suramericana y SURA AM divisions.
On the identical time, working bills elevated by 40% in comparison with the identical interval final 12 months, primarily resulting from modifications within the alternate fee.
Grupo SURA operates in additional than 10 international locations by way of holdings in monetary companies, meals, cement, vitality and infrastructure, in addition to funding corporations.
