M&A Deal Summary

Sumitomo Life Insurance Acquires Symetra Financial

On August 11, 2015, Sumitomo Life Insurance acquired insurance company Symetra Financial for 3.8B USD

Acquisition Highlights
  • This is Sumitomo Life Insurance’s 1st transaction in the Insurance sector.
  • This is Sumitomo Life Insurance’s largest (disclosed) transaction.
  • This is Sumitomo Life Insurance’s 1st transaction in the United States.
  • This is Sumitomo Life Insurance’s 1st transaction in Washington.

M&A Deal Summary
Date 2015-08-11
Target Symetra Financial
Sector Insurance
Buyer(s) Sumitomo Life Insurance
Deal Type Add-on Acquisition
Deal Value 3.8B USD
Advisor(s) Morgan Stanley (Financial)
Cravath, Swaine & Moore (Legal)

Target

Symetra Financial

Bellevue, Washington, United States
website
Symetra's corporate headquarters in Bellevue, Washington.
Symetra's corporate headquarters in Bellevue, Washington.
Symetra, based in Bellevue, Washington, is the former life insurance and investment division of Safeco Corp. Its services include life insurance, annuities, retirement plans and group medical plans. Symetra has more than two million customers, including 400,000 life insurance policy holders.

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Buyer(S) 1

Buyer

Sumitomo Life Insurance

Osaka, Japan

website

Category Company
Founded 1907
Sector Insurance
DESCRIPTION

Sumitomo Life Insurance Co. is a provider of insurance products.

DEAL STATS #
Overall 1 of 1
Sector (Insurance) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Washington) 1 of 1
Country (United States) 1 of 1
Year (2015) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-07 Sumitomo Life Insurance Agency America

New York, New York, United States

Sumitomo Life Insurance Agency America, Inc. is a provider of insurance services.

Sell -
Mergr

Product

Company

Legal