Grupo De Inversiones Suramericana S.a. · BVC:GRUPOSURA
Grupo De Inversiones Suramericana — Grupo SURA — Q1 2024 Earnings Presentation
20 slides from Grupo De Inversiones Suramericana's earnings presentation, May 2024
Slide 1: Grupo SURA 1Q-2024 Results Presentation
Grupo SURA 1Q-2024 Results Presentation
Slide 2: Grupo SURA 1Q-2024
Grupo SURA 1Q- 2024 GRUPO
Slide 3: Grupo SURA's controlling net income reaches COP 4.9 tn, reflecting investment manager strategy
Grupo SURA's controlling net income reaches COP 4.9 tn, reflecting investment manager strategy Revenues Operating profit Controlling net income Recurring var.: +1% Recurring var.: +1% Recurring var.: -14% 52% 13,614 326% 5,951 4,910 489% 8,943 1,397 834 8,977 1,314 635 Mar 23 Mar 24 Mar 23 Mar 24 Ma
Slide 4: Earnings from the Nutresa and Argos USA transactions generate non-recurring earnings of COP 4.3 tn
Earnings from the Nutresa transaction and the Argos USA transaction generate non-recurring earnings of COP 4.3 tn Net income composition 4,910 3,652 GIS Grupo Argos Recurring port. GIS Recurring net Minority Recuring net Profit from Controlling net administration EM contribution Interests income 202
Slide 5: In April, the execution of the Nutresa transaction was completed
In April, the execution of the Nutresa transaction was completed, including the tender offer and the second exchange Shares repurchased Value creation Financial flexibility 25.4% of total outstanding shares were Increased earnings per share and book Cash Flow and indebtedness in line received, post
Slide 6: Dividends received in 2024 to reach COP 2 tn with 50% coming from abroad
Dividends received in 2024 to reach COP 2 tn with 50% coming from abroad Historic dividends Dividends by Company (24E) Dividends by country (24E) (COP Trillion) 3 Other 2.0 Other 7% 2 1.8 1% 3% 8% 1% 5% 2 1.0 1.1 5% 1 37% 0.7 42% 51% 1 15% 0 2020 2021 2022 2023 2024E 11% 14% Post tender offer debt p
Slide 7: Increased revaluation of the Colombian peso against other currencies in the region
Increased revaluation of the Colombian peso against other currencies in the region 1Q24 vs 1Q23 Variation | Countries other than Closing rates( ) / Average rate ( ) Colombia represent: COP/MXN -10% 76% of commission income in SURA AM COP/UYU -15% COP/BRL -16% 22% of written premiums COP/PEN -16% in
Slide 8: Suramericana 1Q-2024
02 Suramericana 1Q - 2024
Slide 9: Suramericana's premiums start the year with 11% growth in constant exchange rates
Suramericana's premiums start the year with 11% growth in constant exchange rates Written premiums | Retained claims ratio % Operational expenses 70.8% 71.5% 11.8% 11.5% 6,558 6,887 5% 775 2% 793 11% Mar 23 Mar 24 Mar 23 Mar 24 Retained claims Siniestralidad ret. % ratio % %Efficiency ratio % Eficie
Slide 10: Mandatory health and P&C insurance segment drive double-digit premium growth
Mandatory health and P&C insurance segment drive double-digit premium growth Written premiums Segment mix 16% 2023 | 2024 16% -4% 3,024 Life 5% 11% 27% 8% 27% 27% | 27% 2,340 41% 38% 1,946 P&C 35% | 32% 35% Health 32% 38% | 41% Vida Life Generales P&C Salud Health TOTAL COP 6,887 +11%* Var% 1Q24 vs
Slide 11: Investment income declines, mainly reflecting the decrease in inflation in Colombia
Investment income declines, mainly reflecting the decrease in inflation in Colombia Retained claims Investment Income 70.1% -26% 72.0% 70.0% 68.0% 65.6% 65.8% Life 66.0% 64.0% 397 62.0% 60.0% 58.0% 2021 2022 2023 2023 1Q 2023 1T 1T 2024 1Q 55.0% 54.0% 51.5% 51.5% 53.0% -6% 49.3% 52.0% 51.0% P&C 50.0
Slide 12: Suramericana's net income declines 19% due to lower contribution from the Life segment
Suramericana's net income declines 19% due to lower contribution from the Life segment R E S U LT S Controlling Net Income -19% COP 228 billion +83% +72% -51% Admin Life P&C Health Interests Other Net income expenses Var% 1Q24 vs 1Q23 Contribution to net income Figures in COP billions unless a diffe
Slide 13: SURA AM 1Q-2024
SURA AM 1Q- 2024 GRUPO
Slide 14: SURA AM net income grew 54% in first quarter
SURA AM net income grew 54% in first quarter, reflecting improved operating performance and higher investment income Commission income Operational expenses 1,019 -7% 947 -8% 766 709 10% 7% Mar 23 Mar 24 Mar 23 Mar 24 Var% 1Q24 vs 1Q23 Var% 1Q24 vs 1Q23 excl. exchange rate effects Operating Profit Co
Slide 15: Commission income grew 10% in local currency reflecting positive dynamics in both segments
Commission income grew 10% in local currency reflecting positive dynamics in both segments Main comisión drivers Commission income 400 AUM that generate commission (COP Tn) 50.0 Salary base (COP Tn) 46.8 -8% 350 45.0 +9% 300 +13% +7% 41.8 851 248 40.0 250 200 35.0 -2.3% 150 +24% 30.0 +20% 100 76 94
Slide 16: Operating income of both segments showed a positive growth in local currency
Operating income of both segments showed a positive growth in local currency Savings & retirement reserve income Operating Profit -3% Yield* 11.9% 15% 135 488 99 67% 170% 12 Mar 23 Mar 24 Ahorro Savingsy Retiro and SURA Investments retirement Var% 1Q24 vs 1Q23 Var% 1Q24 vs 1Q23 excl. exchange rate e
Slide 17: Net income closes at COP 318 billion, reflecting an improved performance of the 3 segments
Net income closes at COP 318 billion, reflecting an improved performance of the 3 segments R E S U LT S Controlling Net Income +54% +34% +469% +18% Corporate Operating Savings and SURA Annuities & Net financial Minority Controlling net AyR Expenses - (excluding Other* Net Income retirement Investmen
Slide 18: Grupo SURA 1Q-2024
Grupo SURA 1Q- 2024 GRUPO
Slide 19: Equity method grows 72% due to higher contribution of Grupo Argos
Equity method grows 72% due to higher contribution of Grupo Argos -3% +872% 420 407 559 94 57 23 Mar 23 Mar 24 Mar 23 Mar 24 Mar 23 Mar 24 Accumulated equity method 1.0 tn +72% VS March 23 Figures in COP billions unless a different unit is mentioned 19 19
Slide 20: Portfolio companies contribute COP 1.6 tn to Grupo SURA's net income
Portfolio companies contribute COP 1.6 tn to Grupo SURA's net income COP 1.6 Trillion 3,652 5,043 4,910 -3% +41% -19% Administrative Sociedad Interests Profit on Controlling net Suramericana Sura AM Bancolombia Grupo Argos Other* expenses Net income Portafolio GIS Nutresa sale** income GIS Var% 1Q24