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Symetra

Symetra

Symetra is a company that offers life insurance and employee benefits, including retirement.

Symetra is a company that offers life insurance and employee benefits, including retirement.

History

Symetra is a former subsidiary of the insurance company Safeco, originally founded in 1957 as Safeco's Life and Investments division. In March 2004, the division was sold to investors from White Mountains Insurance Group and Berkshire Hathaway for $1.35 billion. Life and Investments included the individual branches of life insurance, group insurance, mutual fund businesses, and annuities. Symetra has three of its own divisions: Benefits, Retirement, and Individual Life; they provide employee benefits mainly regarding disability, death, and illness coverage; retirement annuities; and life insurance policies, respectively.

In February 2016, Symetra was acquired by Sumitomo Life Insurance Company. Symetra was delisted on the New York Stock Exchange due to conditions of the deal. In January 2020, Symetra announced a new subsidiary called Symetra Investment Management Company. It was officially registered with the SEC in April 2021.

Symetra has partnered with sevearl sports leagues including the Seattle Storm, and is the founding partner of both the Seattle Kraken and the Climate Pledge Arena.

Timeline

January 2020
Symetra establishes a subsidiary called Symetra Investment Management Company.
February 2016
Symetra is acquired by Sumitomo Life.
March 2004
Safeco sells its Life and Investments division to investors, leading to the company's rebranding as Symetra.
1957
Symetra is established as a subsidiary of Safeco in the form of its Life and Investments division.

Funding rounds

Patents

Further Resources

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