SURA Asset Management is a subsidiary company of Grupo SURA and a leader in pensions specializing in life annuities and investment funds. When measured in assets, the Company is the largest administrator of non-banking assets in Latin America, closely related to the pension business, where it is in first place with a market share of over 23%, a total of USD 112.8 billion in assets managed and 17.3 million clients.
In 2011 Grupo SURA acquired ING’s assets in pensions, life insurance and investment fund businesses in Chile, Colombia, Mexico, Peru and Uruguay. This transaction, worth USD 3.6 billion, was completed on December 29, 2011.
The funds management business has a history of over 30 years when individual pension capitalization systems were first introduced in each country:
- AFP Capital (Chile): founded in 1981.
- Protección AFP (Colombia): the surviving company from the merger between Protección and ING Colombia founded in 1991.
- AFP Integra (Peru): founded in 1993.
- AFORE SURA (Mexico): founded in 1996.
- AFAP SURA (Uruguay): founded in 1996.
- AFP Crecer (El Salvador): founded in 1998.