Company Profile
Symetra Financial
Company Overview
What drives Symetra Financial? It’s an anything-is-possible attitude focused on one thing—making a difference in people’s lives. We do it by offering diverse financial solutions to help individuals, families and businesses reach their goals. And we do it with a roll-up-your-sleeves spirit supporting programs, events and organizations that enrich the lives of those in the communities we serve. We’re a growing company inspired by challenges—a company with the agility and creativity to meet them head on—a company built on a foundation of integrity and responsibility that guides us in doing what’s best for our clients.
Products and Services:
Employee Benefits- Solutions to help employers attract and retain a quality workforce.
Annuities- Solutions that provide guaranteed lifetime income and tax-deferred growth.
Life Insurance- Financial products to help families recover from personal loss and build legacies.
Company History
1957 - The companies that would eventually become Symetra Financial begin as life insurance and investments subsidiaries of a Seattle-based Fortune 500 insurance company.
1959 - Enters the group insurance business.
1967 - Total amount of insurance in force passes the $1 billion mark.
1976 - Helps pioneer Medical Stop Loss insurance.
1982 - Begins offering universal life insurance.
1983 - Expands its Medical Stop Loss business with the acquisition of third-party administrator Employee Benefit Consultants Inc.
1984 - Tops $1 billion in assets.
1986 - Reaches $2 billion in assets.
1987 - Enters the New York market with the establishment of the company now known as First Symetra National Life Insurance Company of New York
1989 - Leads the way in automatic income distribution options.
1995 - Reaches $10 billion in assets.
1997 - Grows its individual life and fixed deferred annuity business with the acquisition of American States Life and WM Life.
1999 - Acquires $120 million of group Medical Stop Loss from ING. Three years later, it acquires another $225 million from Swiss Re.
2004 - Becomes an independent company when it is purchased by an investor group led by White Mountains Insurance Group, Ltd., and Berkshire Hathaway Inc.
2007 - Further strengthens its Medical Stop Loss business with the acquisition of Medical Risk Managers Inc. Celebrates its 50th anniversary.
2008 - Surpasses $2 billion in total sales.
2010 - Symetra begins trading on the New York Stock Exchange.
Notable Clients
1.7 Million Customers
Notable Accomplishments / Recognition
•Top-40 U.S. life insurance company based on admitted assets.
• “Ward’s 50” top-performing insurance company for 2010, based on financial performance.
• Market leader in medical stop-loss insurance, according to Standard & Poor’s (S&P).
• Our balance sheet reflects our rigorous risk management and strict asset-liability standards.
We have:
• High-quality assets. 94% of our fi xed income portfolio is in high-quality assets, such as investment-grade bonds.
• A strong capital position. Our risk-based capital ratio is more than four times the required level.
• Predictable liabilities. 85% of our liabilities are mostly illiquid.
Benefits
http://www.symetra.com/Documents/Web/HR/HR_0022.PDF