• TRM (USD/COP)COP 3,235.59 +1.65% +COP 52.60Colombia's official exchange rate (Financial Superintendence), valid Nov 4 to Nov 4
  • EuroCOP 3,617.08 +1.72% +COP 61.02Reference: TRM crossed with the European Central Bank rate of Nov 3; not the market quote
  • Mexican pesoCOP 173.98 +3.35% +COP 5.64Reference: TRM crossed with the European Central Bank rate of Nov 3; not the market quote
Quilla NewsFinance & Technology
ENES
← Back to the communityFinance

Grupo Bolivar (BVC: GRUBOLIVAR) & Seguros Bolivar Top COP 6T in Premiums: Will Davivienda Re-Rate the COLCAP?

fabio0423

1 min readWritten by a reader

Anchored by Seguros Bolivar—which surpassed COP 6 trillion in annual written premiums with COP 4.6 trillion in equity, a 9.9% market share, and a Fitch BBB- investment-grade rating—alongside Banco Davivienda's regional expansion, Grupo Bolivar (BVC: GRUBOLIVAR) delivers counter-cyclical cash flow on Colombia's BVC.

Under Superintendencia Financiera de Colombia (SFC) and Fasecolda reporting, Seguros Bolivar protects over 5.2 million clients with 23.3% growth in Health, 15.9% in ARL workers' compensation (COP 965 billion), and COP 1.1 trillion+ in Life premiums. This AAA(col)-rated insurance float cushions credit-cycle provisioning at Banco Davivienda (BVC: PFDAVVNDA) following its Scotiabank (NYSE: BNS) integration and Constructora Bolivar.

Compared against MSCI COLCAP peers Grupo Sura (BVC: GRUPOSURA) and Grupo Aval (NYSE: AVAL) on the Bolsa de Valores de Colombia (nuam exchange), institutional desks see deep sum-of-the-parts value. Will Seguros Bolivar's investment-grade cash engine and Davivienda's ROE recovery erase GRUBOLIVAR's holding discount?

Will Seguros Bolivar and Davivienda re-rate GRUBOLIVAR on the BVC?

  • Seguros Bolivar's COP 6T float and Davivienda will re-rate it0 %
  • Conglomerate holding discounts on the BVC will cap upside0 %
  • Depends on Davivienda's ROE recovery and SFC capital rules0 %

0 votes

Comments

Be respectful. Comments reported by several people are hidden until a moderator reviews them.

You do not need an account to read, only to comment. Sign in with a code sent to your email or with your Google account. We only show the name you choose, never your email.