The board of Grupo Mutua approved the acquisition of the remaining 55% stake in Seguros del Estado and Seguros de Vida del Estado, securing full ownership of both companies.
The transaction is set to close in the final quarter of 2026 after approval from the Colombian investment firms holding the remaining shares. Mutua will assume the chair of the board of directors once the deal is finalized.
The two insurers generated more than 400 million dollars in premiums during 2025 and account for 6% of Colombia’s general insurance market. The Spanish group will retain the existing brands and the staff of 1,400 employees.
Mutua first became a minority shareholder in June 2020 and already controls 60% of BCI Seguros in Chile. The purchase is part of its strategic plan to expand outside Spain through technology investments and product diversification.
