Last year, the company made a profit from the sale of its stake in Nutresa, amounting to just over 4 billion pesos (US$950.9 million).

Colombian investment holding company Grupo SURA's net income plummeted 89.4% in the first quarter to 518.957 billion pesos (US$123.7 million), compared to the same period last year, due to non-recurring income in 2024, the conglomerate reported Thursday.

Last year, the company made a profit from the sale of its stake in Nutresa, amounting to just over 4 trillion pesos (US$950.9 million) and paid income tax of 363.241 billion pesos (US$86.3 million).

However, adjusted net income fell 12.2% compared to 591.162 billion pesos (US$140.5 million) between January and March 2024.

Total revenue for Grupo SURA, a group comprised of companies in the financial, insurance, and industrial sectors, increased 4.8% year-over-year in the first quarter to just over 7 trillion pesos (US$1,669.7 million).

Grupo SURA and Grupo Argos announced they will reorganize their shareholding structure to become independent firms, ending a 46-year corporate merger in an effort to attract more capital and investors. The spinoff will close between late 2025 and early 2026.

The two conglomerates are part of what is informally known as the Antioquia Business Group (GEA), made up of more than 100 companies from different sectors, operating under a complex shareholding structure in which most of the companies are partners.