A foundation for social growth

Fundaseg is a nonprofit organization created in 1980 by Fundación Reaseguradora de Colombia, whose shareholders were, among others, insurance companies like Suramericana, Colpatria, Bolívar, Agrícola de Seguros and Seguros Fénix. The foundation’s initial objective was to contribute to the social development of Gachancipá inhabitants, a municipality located in the Department of Cundinamarca.

Since its creation, the Foundation’s purpose has been to support the spread of science and culture, develop research programs, promote education for low-income people, and carry out social benefit plans.

For more than twenty years, the entity supported care for the elderly, preschool education for more than 2,000 children, medical and dental care for many patients in the area, recreation for families, sports training for hundreds of young people, and job and non-formal training for more than 30,000 people.

When Reaseguradora de Colombia closed its operation in 2000, the Foundation, by its administrators’ decision, came under the management of the Colombian Insurers Association (Fasecolda), which led to the implementation of some adjustments, including the following: the change of its corporate name to Fundación de Aseguradores Colombianos (Fundaseg) in 2001; the reorientation of its activities related to health service provision, this due to the increase of people affiliation to the Social Security System, created by Act 100/1993; and the sale of the Foundation’s headquarters in Gachancipá in 2003 and its subsequent relocation in Bogotá.