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Symetra Financial (SYA) |
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Symetra Financial Corp. (SYA) (NYSE:SYA) is a provider of life insurance and health insurance products in the United States. These products include annuities, employee benefit plans, disability insurance, and retirement plans. The products are distributed through financial institutions, brokers, independent agents and advisors. Currently, the products are distributed through 16,000 independent agents, 26 financial institutions, and 4,300 independent employee benefits brokers. [1]
The company's initial public offering (IPO) of stock was filed on 5 October 2009 and began trading on an exchange on 21 January 2010. With a proposed offer price from $12.00 to $14.00, the actual offer price was only $12.00. The company offered 30.4 million shares. [2]
In the TTM 30 September 2009, Symetra Financial had $1,617.8 million total revenue, up 8.4% from $1,492.3 million total revenue in TTM 30 September 2008. In addition, it made a net income of $91.3 million, up 61% from a net income of $56.7 million net income the company made in TTM 30 September 2008. As of 30 September 2009, 28.9% of total revenues came from Group, the segment representing life insurance plans and other plans, 21.6% from retirement services, the segment providing fixed and variable annuities to retirement plans, 23.9% from Income Annuities, the segment representing annuities to fund third party injury settlement, 24.9% from individual, the segment representing variable life insurance plans. [1]
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