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Symetra files for IPO
Bellevue-based Symetra Financial plans to add another ticker symbol – SYA – to the New York Stock Exchange, having filed on Monday with the Securities and Exchange Commission for an initial public offering of $575 million.
The company, partly owned by Warren Buffett's Berkshire Hathaway and the White Mountains Insurance Group of Bermuda, sells group life and medical insurance, individual policies, and retirement plans, among other financial products.
The sale will include primary shares, as well as possible stock from Berkshire and White Mountains, according to the filing.
Symetra said in its filing that it would use net proceeds from the offering for corporate purposes including support of "our insurance and other subsidiaries."