Symetra

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Symetra
Subsidiary
Traded asNYSE: SYA
IndustryInsurance
FoundedBellevue, Washington (2004)
HeadquartersBellevue, Washington, United States
Key people
Randall Talbot Founder, Margaret Meister (CEO)
ProductsRetirement plans
Employee benefits
Annuities
Life insurance
RevenueUS$ 2.1 billion (2012)
US$ 205.4 million (2012)
Total assetsUS$ 29.5 billion (2012)
OwnerSumitomo Life
Number of employees
1,250
Websitewww.symetra.com

Symetra is a United States-based family of companies providing retirement plans, employee benefits, annuities and life insurance through independent distributors nationwide. The main headquarters of the company is located in Bellevue, Washington. Started in 1957, Symetra Financial began as a subsidiary of Safeco. In 1967, the total amount of insurance in force for Symetra surpassed the $1 billion mark. By 1995, the total assets had grown to $10 billion. In 2004, Safeco sold its life insurance business to an investor group led by White Mountains Insurance Group and Berkshire Hathaway.[1]

Symetra Financial was eventually acquired by Japanese insurer Sumitomo Life for $3.8billion. The Japanese insurer was looking to expand its foothold on insurance especially with an aging Japanese market.[2]

Symetra and Women’s All Pro Tour host the Symetra Tour, which is known as the “Road to LPGA.”[3][4]

References[edit]

  1. ^ Virgin, Bill; Reporter, Seattle Post-Intelligencer (4 August 2004). "Safeco's former investment unit renamed Symetra". seattlepi.com.
  2. ^ Bray, Chad (11 August 2015). "Sumitomo Life of Japan to Buy Symetra Financial for $3.8 Billion" – via NYTimes.com.
  3. ^ "Symetra Tour, Women's All Pro Tour team to further developmental path". 12 December 2018.
  4. ^ "Meet the 2018 Symetra Tour graduates". 8 October 2018.

External links[edit]