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February 07, 2016 7:04 AM ET


Company Overview of Symetra Financial Corporation

Company Overview

Symetra Financial Corporation, through its subsidiaries, provides products and services that serve the retirement, employee-based benefits, and life insurance markets in the United States and the District of Columbia. The company operates through three divisions: Benefits, Retirement, and Individual Life. The Benefits division provides medical stop-loss, limited benefit medical, group life, accidental death and dismemberment, and disability income insurance products to employers, unions, and public agencies, as well as provides underwriting services. The Retirement division offers fixed and variable deferred annuities to consumers who accumulate tax-deferred assets for retirement; single pre...

777 108th Avenue NE

Suite 1200

Bellevue, WA 98004

United States

Founded in 1957

1,400 Employees



Key Executives for Symetra Financial Corporation

Chief Executive Officer, President, Director and Member of Finance Committee
Age: 57
Total Annual Compensation: $525.0K
Chief Financial Officer, Chief Risk Officer and Executive Vice President
Age: 50
Total Annual Compensation: $438.5K
Senior Vice President, General Counsel and Secretary
Age: 59
Total Annual Compensation: $325.0K
Executive Vice President of Retirement Division - Symetra Life Insurance Company
Age: 41
Total Annual Compensation: $415.8K
Executive Vice President of Benefits Division - Symetra Life Insurance Company
Age: 54
Total Annual Compensation: $385.0K
Compensation as of Fiscal Year 2014.

Symetra Financial Corporation Key Developments

Symetra Financial Corporation Announces Board Changes; Announces Amendment of Certificate of Incorporation and Bylaws

Symetra Financial Corporation announced the completion of the acquisition of Symetra by Sumitomo Life Insurance Company in accordance with the terms of the previously announced Agreement and Plan of Merger, dated Aug. 11, 2015, among Symetra, Sumitomo Life and SLIC Financial Corporation, a wholly owned subsidiary of Sumitomo Life. Pursuant to the Agreement and Plan of Merger, dated as of August 11, 2015, by and among Symetra Financial Corporation, Sumitomo Life Insurance Company and SLIC Financial Corporation, on February 1, 2016, Merger Sub merged with and into the company, with the company surviving as a wholly-owned subsidiary of Sumitomo. Effective as of the effective time of the merger, pursuant to the terms of the Merger Agreement, Lowndes A. Smith, Peter S. Burgess, Lois W. Grady, Sander M. Levy, Robert R. Lusardi and Thomas M. Marra ceased to be directors of the company, and Shinzo Kono became the sole director of the company. Immediately following the effective time of the merger, Sander M. Levy, Robert R. Lusardi and Thomas M. Marra were re-elected as directors of the company, and Hirofumi Miyahara, Masato Naitoh, Shin Umehara, Robert G. Wolfe and Kiyotaka Yuda were also elected as directors of the company. In connection with the consummation of the merger, the certificate of incorporation and the bylaws of the company as in effect immediately prior to the effective time of the merger were amended and restated, each effective as of February 1, 2016.

David T. Foy Resigns from Symetra Financial Corporation as Board of Director, Effective November 6, 2015

On November 5, 2015, David T. Foy, a Class III director of Symetra Financial Corporation, tendered his resignation from the company's board of directors, effective November 6, 2015.

Symetra Financial Declares Quarterly Cash Dividend Payable on or About December 4, 2015

Symetra Financial Corporation’s board of directors declared a cash dividend of $0.11 per share on the company’s stock. The dividend will be payable on or about December 04, 2015, to common shareholders of record as of the close of business on November 19, 2015.

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