SURA Asset Management

What SURA Asset Management does

SURA Asset Management S.A. is a Colombian public limited company and the leading Latin American asset manager specializing in pension fund administration, asset management, and investment advisory services. Founded in 2011 following Grupo SURA's acquisition of ING's Latin American pension, life insurance, and investment businesses for approximately USD 3.6 billion, the company administers USD 218 billion in assets on behalf of 24.1 million clients across seven countries (Colombia, Mexico, Chile, Peru, Uruguay, the United States, and Luxembourg) through a 7,385-person workforce.

The company operates two primary business units. The Ahorro y Retiro (Savings and Retirement) unit administers mandatory pension contributions through licensed subsidiaries — Afore SURA (Mexico), Protección (Colombia), AFP Integra (Peru), AFP Capital (Chile), and AFAP SURA (Uruguay) — and distributes life annuities through Asulado in Colombia. The SURA Investments unit delivers wealth management, investment management, and corporate solutions across the same five countries plus the US RIA and Luxembourg investment vehicles, managing USD 18 billion in proprietary and third-party funds (1,000+ funds, 100+ investment professionals, 1,200 employees). Supporting platforms include the Findo mobile app for family savings, Capital Play streaming education, Universidad Protección e-learning, and Suplos supplier management. SURA holds investment-grade ratings (BBB/Fitch, Baa1/Moody's) and recurring industry recognition including CONSAR +AFORE and S&P AMP1 Muy Fuerte ratings.

Revenue is generated primarily through recurring commissions on pension fund administration (the sole income stream for AFP/AFORE/AFAP operators, set as fixed amounts, percentages of contributions, or a combination), asset management fees on SURA Investments products, and premiums from annuity products. Distribution spans wholly-owned subsidiary networks, direct institutional sales teams, digital self-serve channels, and partnerships with global asset managers including BlackRock and Franklin Templeton. The company is controlled by Grupo SURA (93.32%), with Caisse de dépôt et placement du Québec holding a 6.68% minority stake since 2018.

Name

SURA Asset Management

Legal name

SURA Asset Management S.A.

Website

https://sura-am.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

SURA Asset Management is a Colombian-headquartered Latin American asset manager that administers USD 218 billion in pension, wealth, and investment assets on behalf of 24.1 million clients across seven countries through licensed pension fund subsidiaries and the SURA Investments platform.

Ownership category

akta.pro rank

Product category

Asset Management and Pension Fund Administration

NAICS

Pension Funds (525110), Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Trust, Fiduciary, and Custody Activities (523991)

SIC

Investment Advice (6282), Insurance Agents, Brokers & Service (6411), Life Insurance (6311), Finance Services (6199)

akta.pro primary industry

Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB)

akta.pro secondary industries

Registered Investment Advisor (RIA) Wealth Management (FSAEABAA), Retirement Income Planning & Decumulation Advisory (FSAEABAD), Insurance-Integrated Wealth Managers (RIA + Insurance Solutions) (FSAAACAI)

Keywords

• Pension fund administration
• Asset management services
• Wealth management solutions
• Investment management platform
• Retirement savings products

Headquarters

HQ city

Medellín

HQ country

Colombia

HQ region

Latin America

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Pension Fund Administration Fees: Commission-based revenue from managing pension funds. Commissions are the sole income for pension fund administrators and can be established as a fixed amount or percentage of contributions, or a combination of both. The company administers retirement savings for millions of workers across Mexico, Colombia, Peru, Chile, and Uruguay.
2. Asset Management and Investment Services: Revenue from wealth management, investment management, and corporate solutions services through SURA Investments platform. Manages USD 18,000 million in assets and offers over 1,000 investment funds through proprietary and third-party products.
3. Life Insurance and Annuity Products: Through Asulado Seguros de Vida in Colombia, the company offers life insurance and annuity products (Rentas Vitalicias) providing retirement income solutions.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

SURA Asset Management administers pension and retirement savings funds through country-specific subsidiaries (AFORE/AFP/AFAP) in Mexico, Colombia, Peru, Chile, and Uruguay, and operates the SURA Investments platform offering wealth management, investment management, and corporate solutions to individuals, companies, and institutions across Latin America. The company also provides life insurance and annuity products (Rentas Vitalicias) through Asulado Seguros de Vida in Colombia, manages USD 218 billion in assets under administration for 24.1 million clients.

Product overview

SURA Asset Management is a Latin American asset manager operating two main business units: Ahorro y Retiro (Savings and Retirement) and SURA Investments. Ahorro y Retiro encompasses pension fund administration through regional subsidiaries including Afore SURA (Mexico), Protección (Colombia), AFP Integra (Peru), AFP Capital (Chile), and AFAP SURA (Uruguay), managing pension assets across accumulation and decumulation phases. SURA Investments is the investment and wealth management platform offering services across Wealth Management, Investment Management, and Corporate Solutions segments. The company also operates Asulado (insurance), digital education platforms like Capital Play and Findo app, and maintains presence across 7 countries with USD 218 billion in assets under management serving 24.1 million clients.

Differentiator

Problem solved

Functional benefit

Brands

• SURA Investments: Investment platform specialized in wealth management and asset management for individuals, companies and institutions across Latin America
• Afore SURA
• Protección
• AFP Integra
• AFP Capital
• AFAP SURA
• Asulado

Products and services

• Ahorro y Retiro (Savings and Retirement) Pension fund administration business unit operating through owned subsidiaries covering accumulation (contributions, voluntary savings) and decumulation (annuities, retirement income) phases for workers and retirees across Latin America.
• SURA Investments Latin American investment platform offering wealth management, investment management, and corporate solutions for individuals, companies, and institutions; manages USD 18,000 million in assets with over 1,000 investment funds available through proprietary and third-party products.
• Afore SURA (Mexico) Pension fund administrator (AFORE) in Mexico managing retirement savings accounts with digital tools, serving as the primary pension management vehicle for Mexican workers.
• Protección (Colombia) Pension fund administrator (AFP) in Colombia serving approximately 8 million Colombians with retirement savings management, financial education programs, and investment management services.
• AFP Integra (Peru) Pension fund administrator (AFP) in Peru offering retirement savings management with programs focused on employability for youth and financial literacy initiatives.
• AFP Capital (Chile)

Quantifiable outcome

• 24.1 million clients served across Latin America
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered flagship, core and minor.

• IE UniversityflagshipStrategic or Co-development Partner · 1 January 2025Partnership with IE University's 'Leading the Future' leadership program for 320 high-potential talents across Grupo SURA subsidiaries including SURA Asset Management. Focuses on leadership development, artificial intelligence, change management, and sustainability training.
• FinaktivacoreStrategic or Co-development Partner · 2 December 2024Strategic financing partnership to support women-led SMEs in Colombia. The program provides financing up to $150 million Colombian pesos for companies led by women or with significant female ownership, combined with free business training, strategic mentoring through 'Círculo Finaktiva', and Corporate Governance education for sustainable growth.
• ONG PROAminorStrategic or Co-development Partner · 1 January 2020Volunteer program partnership where SURA Peru volunteers connect weekly with family heads to share financial education knowledge and guide them in responsible money management to strengthen family economics.
• NESsTminorStrategic or Co-development Partner · 1 January 2020Partnership with NESsT, a firm specializing in social enterprise incubation and impact funds, to train 13 volunteers as mentors for social enterprises providing business management guidance for 4 months.
• Municipalidad de LimaminorStrategic or Co-development Partner · 1 January 2017Employability Program for Youth partnership to facilitate formal labor market insertion for youth aged 15-29 through training modules, supporting financial education and savings awareness.
• BlackRockcoreChannel Partner/ Reseller/ Distributor · 1 January 2016Distribution agreement for BlackRock investment funds across Mexico and Uruguay operations, complementing SURA's product offerings with access to BlackRock's global investment platform.
• Franklin TempletoncoreChannel Partner/ Reseller/ Distributor · 1 January 2015Distribution agreement in Chile for Franklin Templeton funds, expanding the range of investment options available to Chilean clients.

Scale indicators12 records

Recent moves12 records

Expansion highlights6 records

Direct peers

• AFP Habitat: Chilean pension fund administrator directly competing with AFP Capital in Chile's private AFP system. Comparable business model focused on mandatory pension contributions and individual account administration across Latin America.
• Principal Financial Group: US-based financial services group operating Principal Life and pension businesses across Chile, Mexico, and Brazil. Direct competitor in Latin American retirement and asset management with similar multi-country pension footprint.
• BBVA Bancomer (Afore): Operates one of Mexico's largest Afores, directly competing with Afore SURA in the Mexican pension system. Comparable product set in mandatory retirement savings administration and investment management.
• Banorte (Afore XXI Banorte): One of Mexico's largest financial groups operating Afore XXI Banorte, directly competing with Afore SURA for Mexican retirement savings AUM and offering comparable wealth management services.
• BTG Pactual: Leading Latin American investment platform offering wealth management, asset management, and corporate solutions across Brazil, Chile, Colombia, Mexico, and other markets. Direct competitor to SURA Investments for HNW and institutional mandates.
• Larraín Vial: Chilean asset management and wealth advisory firm operating across Chile, Peru, Colombia, and the US. Direct competitor for HNW wealth management and institutional asset management mandates in Latin America.
• AFP Provida: Chilean pension fund administrator now owned by MetLife, directly competing with AFP Capital in Chile's AFP system. Comparable product offering and regulatory position in the Chilean retirement market.

Broad incumbents

• MetLife: Global insurance and retirement services provider with significant Latin American operations competing across pensions, life insurance, and asset management. Broader product portfolio but overlapping in retirement and wealth solutions.
• Itaú Asset Management: Major Latin American asset manager operating across Brazil, Chile, and other markets with pension fund administration and investment management capabilities. Larger by AUM but with similar regional asset management footprint.

Emerging players

• Cresta (Asset Management): Mexican asset management firm serving institutional and corporate clients with investment management solutions. Comparable to SURA Investments Mexico's institutional asset management offering.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/sura-asset-management

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries8 records

Funding overview

Funding rounds3 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SURA Asset Management