Higher financial income drives Colombia’s Grupo SURA to 30.3% jump in Q2 profits

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FILE PHOTO: The Grupo Sura logo can be seen at its headquarters in Medellin

(Reuters) -Net profit at Grupo SURA, Colombia’s largest investment company, rose 30.3% in the second quarter from the year-earlier period, boosted by higher financial income and lower COVID claims, the company said in a statement on Friday.

The firm’s net profit for the three-month period climbed to 557.6 billion pesos ($132 million).

Grupo SURA’s revenue for the quarter hit 7.5 trillion pesos, up 23.1% from the year before, being the quarter with the highest revenues in the company’s history, according to the statement.

The company said its net income reflected an uptrend with its different lines of insurance, and that COVID claims declined

by 97% compared to the same period last year.

Grupo SURA operates in more than 10 countries via holdings in financial services, foodstuffs, cement, energy and infrastructure, as well as investment firms.

($1= 4,231.45 Colombian pesos)

(Reporting by Valentine Hilaire)

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