About

Grupo SURA is the holding company of the Colombian financial conglomerate Conglomerado Financiero SURA-Bancolombia, as well as the controlling company of the Grupo SURA business group (“Grupo Empresarial SURA”) which consists of SURA Asset Management and Suramericana as its core subsidiaries. Chief legal officer and company secretary Juan Luis Múnera-Gómez leads a regional legal team made up of 194 lawyers located throughout Latin America who report directly to the CEO of each individual subsidiary, but coordinate with Múnera-Gómez on core issues such as M&A, corporate governance and compliance. Grupo SURA’s Business Group has a three-tiered legal structure: a corporate headquarters department, two corporate regional departments and 15 local legal departments in all 10 countries, the top two tiers being based in Medellín. Recently, a new regional corporate legal department was set up for the insurance and trend risk management business line incorporating the legal staff from the Royal and Sun Alliance Insurance business acquired by Suramericana in 2016. This regional corporate legal office is based in Medellin and is led by Juan Camilo Arroyave-Cárdenas, legal vice-president of Grupo SURA’s subsidiary, Suramericana. In 2018 Grupo SURA reinforced its compliance risk management function by creating a compliance area that reports directly to Juan Luis Múnera-Gómez. He identifies that this has ‘enabled Grupo SURA’s legal department to move forward with its efforts to identify, evaluate and mitigate the different conduct and compliance risks, based on a management model that observes and incorporates international standards according to the needs and complexities of the Grupo SURA’s business, ensuring an adequate balance between the interests of its shareholders, investors, senior officers, employees and other stakeholders’. In addition to the expansion of the business, the team has worked on the development of ethics and compliance practices and procedures, for which it has been recognised in industry rankings.