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Last $24.46 USD
Change Today -0.20 / -0.81%
Volume 267.0K
SYA On Other Exchanges
As of 8:04 PM 05/29/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

777 108th Avenue NE

Suite 1200

Bellevue, WA 98004

United States

Phone: 425-256-8000


Symetra Financial Corporation operates as a financial services company in the life insurance industry. The company manages its business through three divisions composed of four business segments. Benefits Division The Benefits division offers employment-based benefit products and services targeted primarily at employers, unions and public agencies. These products include medical stop-loss insurance; group life, disability income, and accidental death and dismemberment insurance; and limited benefit medical insurance. The company’s customers primarily are small and mid-sized employers that use knowledgeable employee benefits brokers, consultants and insurance company representatives who understand their financial needs and employee profiles. The company works closely with employee benefits brokers, consultants and employers to design customized benefit plans that meet each employer’s particular requirements. Medical Stop-Loss: The company provides medical stop-loss insurance to employers that self-fund their employee health plans and pay all claims and administrative costs. Its product helps employers to manage health expenses by reimbursing individual claim amounts above a certain dollar deductible and by reimbursing aggregate claims above total dollar thresholds. In addition, it offers underwriting services and consulting through its managing general underwriter (MGU). The company’s medical stop-loss product and services are targeted primarily at entities with 200 to 5,000 employees. The company’s limited benefit medical insurance is sold primarily to employers for health coverage to employees not otherwise eligible to participate in traditional plans, including employees that are part-time, seasonal or temporary workers. Limited benefit medical insurance can also serve as supplemental coverage to traditional health insurance. Employers have a great deal of flexibility in electing the benefits made available to employees, which helps employers to manage their healthcare costs. The company’s product does not qualify as minimum essential coverage under PPACA and is exempt from other provisions and restrictions under the act. Distribution: The company sells Benefits’ products through various types of distributors, including third party administrators (TPAs), employee benefits brokers, consultants and administrative services only (ASO) insurance carriers. ASOs are fully-insured carriers that offer administrative services to employer self-funded health plans and also offer the company’s medical stop-loss insurance to those employers. Retirement Division Deferred Annuities: The company’s Deferred Annuities segment offers fixed and variable deferred annuities to consumers who want to accumulate tax-deferred assets for retirement. The fixed or variable classification describes whether the company or the contract holder, respectively, bears the investment risk of the assets supporting the contract. This also determines the manner in which the company generates earnings, either as investment spreads for fixed annuities or asset-based fees for variable annuities. The company offers qualified (i.e., annuities sold in connection with tax-favored retirement arrangements) and non-qualified annuities to individuals, mainly through financial institutions. Products Fixed Annuities: The company offers fixed single premium deferred annuities that require a premium payment at time of issue, offers an accumulation period and provide an annuity payout period beginning at some future date. The company’s fixed annuities include both traditional fixed-rate and fixed indexed annuity (FIA) products. The company’s fixed annuity contracts are supported by its general account, and interest is generally credited on a tax-deferred basis to the contract owner. The company’s earnings from fixed annuities are based upon the spread between the returns the company earn in its general account on its investment of premiums and the crediting rate to contract holders, less acquisition and administrative expenses. The company’s major FIA products, the Edge product family, provide contract holders a choice of a traditional fixed


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Industry Average

Valuation SYA Industry Range
Price/Earnings 13.4x
Price/Sales 1.3x
Price/Book 0.8x
Price/Cash Flow 13.4x
TEV/Sales 0.6x

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