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Symetra

Symetra

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

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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

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Products

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Acquisitions

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SBIR/STTR Awards

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Patents

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Further Resources

Title
Author
Link
Type
Date

References

symetra.com
Is a
Organization
Organization
Company
Company

Company attributes

Industry
‌
Life insurance
Personal finance
Personal finance
Location
Bellevue, Washington
Bellevue, Washington
B2X
B2C
B2C
CEO
Margaret Meister
Margaret Meister
Pitchbook URL
pitchbook.com/profiles.../10850-77
Legal Name
Symetra Separate Account VL
Parent Organization
Safeco
Safeco
Number of Employees (Ranges)
1,001 – 5,000
Number of Employees
2,000
Full Address
777 108th Ave NE, Suite 1200, Bellevue, WA 98004
CIK Number
1,449,482
1,403,385
Place of Incorporation
Iowa
Iowa
IRS Number
200,978,027
Founded Date
January 23, 1957
Phone Number
+18007963872
Glassdoor ID
37751
Patents Assigned (Count)
2

Other attributes

Acquirer
Sumitomo Life
Sumitomo Life
Company Operating Status
Active
Headquarters
Bellevue, Washington
Bellevue, Washington
Previous Name
Safeco Life & Investments Unit
SIC Code
6,311

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