Symetra Financial Corp. today filed a registration statement on Form S-1 with the Securities and Exchange Commission for a proposed initial public offering of common stock. These shares will be offered by existing stockholders of Symetra, the Bellevue, Wash.-based provider of retirement plans, employee benefits, annuities and life insurance through independent advisors and agents nationwide. The company is owned by an investor group led by White Mountains Insurance Group, Ltd. and Berkshire Hathaway Inc., which both own 24%. It has roughly $20 billion in assets.
Symetra will apply to list its shares on the New York Stock Exchange under the symbol "SYA." The company is in a quiet period and had no comment on the filing. According to the registration statement, Symetra won't receive any proceeds from the shares of common stock sold by the selling shareholders. They intend to pay a quarterly dividend. No timeframe is given for the proposed IPO.