Symetra Financial CorporationNYSE
Aug. 9, 2015, 8:34 AM
- Sumitomo Life Insurance is in talks to buy U.S. life insurer Symetra Financial (NYSE:SYA) for about ¥400B-¥500B ($3.2B-$4B), joining several other Japanese insurers that are expanding abroad to counter a shrinking domestic market.
- Over the past year, Meiji Yasuda acquired StanCorp Financial for $5B, Tokio Marine Holdings bought HCC Insurance for $7.5B, and Dai-Ichi Life Insurance paid $5.5B for Protective Life.
Aug. 7, 2015, 4:06 PM
- Reuters reports Symetra Financial (NYSE:SYA) has been working with bankers in recent months to explore a sale, and has "spoken to several industry peers that have expressed interest."
- Shares spiked shortly before the close, and finished up 9.4%. The report comes in a year that has seen a flurry of insurance industry mergers/acquisitions.
Dec. 16, 2012, 3:56 AMSymetra Financial (SYA) has reportedly joined Apollo Global (APO) to bid for the U.S. unit of U.K. insurer Aviva (AV) and the companies could forge an agreement within days. However, Guggenheim Partners, which had joined Apollo in the bid, has dropped out. Any deal would come at a "substantial discount" to the subsidiary's book value, excluding debt, of £2.4B ($3.88B). | Dec. 16, 2012, 3:56 AM