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Symetra

Symetra Insurance Company Details

Symetra logo.png Symetra-bellevue-march-2019.png

Symetra headquarters building in Bellevue, Washington
Type
SubsidiaryISINUS87151Q1067 Edit this on WikidataIndustryInsuranceFounded Bellevue, Washington (2004)Headquarters Bellevue, Washington, United States
Key people
Randall Talbot Founder, Margaret Meister (CEO)ProductsRetirement plans
Employee benefits
Annuities
Life insuranceRevenue US$ 2.1 billion (2012)
Net income
US$ 205.4 million (2012)Total assets US$ 29.5 billion (2012)OwnerSumitomo Life
Number of employees
1,250Websitewww.symetra.com

Symetra Plans details Review

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.

Symetra History

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.

Symetra Financial was acquired in 2016 by Japanese insurer Sumitomo Life for $3.8 billion. The Japanese insurer was looking to expand its foothold on insurance especially as its Japanese market ages increasing costs.

In January 2020, Symetra Financial Corporation announced it established an investment subsidiary, Symetra Investment Management Company (SIM). Sumitomo Life, Symetra’s Japan-based parent company, completed its first $500 million investment through a corporate bond fund in December 2019. The standalone entity will focus on managing money for Symetra’s corporate parent and the Sumitomo Life Insurance Co to invest in US-based assets.

Symetra Sponsorships

Symetra and Women’s All Pro Tour host the Symetra Tour, which is known as the “Road to LPGA.” Symetra players can earn a promotion to the LPGA by through qualifying school, winning three events in one season, or finishing in the Top 10 on the Tour.

Symetra Life Insurance is also the first founding partner and sponsor of Seattle’s National Hockey League (NHL) expansion franchise, which will begin playing in October 2021.

In 2019, Symetra Life Insurance signed a 10-year marquee jersey badge sponsorship with the Seattle Storm WNBA team, the largest partnership in franchise history. The company negotiated a separate partnership with WNBA point guard Sue Bird, who appeared in a TV ad for the company’s “Jibber Jabber” campaign.

Symetra biography Net worth, Details Reference

  • Official website
    • Business data for Symetra:
    • SEC filings
  • Business data for Symetra:
  • SEC filings
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Updated: April 22, 2020 — 11:26 pm

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