Symetra is an American family of companies providing

retirement plans A pension (; ) is a fund into which amounts are paid regularly during an individual's working career, and from which periodic payments are made to support the person's retirement from work. A pension may be either a "defined benefit plan", wher ...

, employee benefits,

annuities In investment, an annuity is a series of payments made at equal intervals based on a contract with a lump sum of money. Insurance companies are common annuity providers and are used by clients for things like retirement or death benefits. Examples ...

and

life insurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typical ...

through independent distributors nationwide. The headquarters is in

Bellevue, Washington Bellevue ( ) is a city in the Eastside (King County, Washington), Eastside region of King County, Washington, United States, located across Lake Washington from Seattle. It is the third-largest city in the Seattle metropolitan area, and the f ...

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 Berkshire Hathaway Inc. () is an American multinational conglomerate holding company headquartered in Omaha, Nebraska. Originally a textile manufacturer, the company transitioned into a conglomerate starting in 1965 under the management of c ...

. 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.

Sponsorships

Symetra and Women's All Pro Tour hosted the Symetra Tour, which is known as the "Road to

LPGA The Ladies Professional Golf Association (LPGA) is an American organization for female golfers. The organization is headquartered at LPGA International in Daytona Beach, Florida, and is best known for running the LPGA Tour, a series of weekly ...

", from 2012 to 2021. 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 The National Hockey League (NHL; , ''LNH'') is a professional ice hockey league in North America composed of 32 teams25 in the United States and 7 in Canada. The NHL is one of the major professional sports leagues in the United States and Cana ...

(NHL) expansion franchise, the

Seattle Kraken The Seattle Kraken are a professional ice hockey team based in Seattle. The Kraken compete in the National Hockey League (NHL) as a member of the Pacific Division (NHL), Pacific Division in the Western Conference (NHL), Western Conference. The t ...

, which began playing in October 2021. In 2019, Symetra Life Insurance signed a 10-year marquee jersey badge sponsorship with the

Seattle Storm The Seattle Storm are an American professional basketball team based in Seattle. The Storm compete in the Women's National Basketball Association (WNBA) as a member of the Western Conference (WNBA), Western Conference. The team was founded by Gi ...

( WNBA) team, the largest partnership in franchise history. The company negotiated a separate partnership with WNBA point guard

Sue Bird Suzanne Brigit Bird (born October 16, 1980) is an American former professional basketball player who played her entire career with the Seattle Storm of the Women's National Basketball Association (WNBA). Bird was drafted first overall pick by t ...

, who appeared in a TV ad for the company's "Jibber Jabber" campaign.

References

External links

* Financial services companies established in 1957 Companies formerly listed on the New York Stock Exchange Insurance companies of the United States Companies based in Bellevue, Washington Sumitomo Life 2016 mergers and acquisitions American subsidiaries of foreign companies 2010 initial public offerings {{US-finance-company-stub