Symetra Life Insurance Company rises from old SAFECO Life Insurance Company

    SAFECO Life now Symetra Life Insurance Co.! As announced on March 15, 2004, Safeco Corp. entered into a definitive agreement to sell its life and investments operations to a group of investors led by White Mountains Insurance Group, Ltd., and Berkshire Hathaway Inc. On July 31, 2004, the sale closed. The new company name is Symetra Life Insurance Co. It will officially begin doing business as Symetra Life Insurance Co. in approved states on Sept. 1, 2004. Symetra will operate as an independent and autonomous company. The following information (reported by SAFECO/Symetra) may be helpful:
  • Top 50 life insurance company with more than $22 billion in total GAAP assets as of June 30, 2004
  • More than $2 billion in annual sales in 2003
  • Pre-tax operating earnings of $216 million in 2003
  • More

    than 2 million policyholders and 20,000 independent distributors across the United States

  • According to SAFECO, if you are a current annuitant you will have no change in your payments. The checks you have now or may receive bearing the Safeco name must be cashed within six months from the date they were issued. If you have Safeco checks that are more than six months old, please contact SAFECO and they'll issue replacements. Eventually your checks will bear the name of Symetra. If you receive your payment by electronic transfer (EFT), the only change you will see will be the Symetra name on your bank statement sometime within the next few months. The toll-free number for customer service at Symetra is 1 (877) SYMETRA (1-877-796-3872). You may also wish to contact your structured settlement broker for more information.

Category: Annuity

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