The story
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.
From Wikipedia’s article on Symetra, shared under CC BY-SA 4.0.5
