White Mountains Advisors LLC of Hanover, N.H., has selected State Street Corp. to provide investment accounting for the general account assets of Symetra Life Insurance Co.
State Street announced the deal Wednesday. The Boston company will provide Symetra, of Seattle, with securities accounting for its insurance and other portfolios. State Street will also using the securities accounting system of its Princeton Financial Systems unit to provide regulatory reporting for Symetra.
Symetra, formerly know as Safeco Life and Investments, had more than $20 billion of assets as of June 30. An investor group led by White Mountains bought it in July.
Princeton Financial provides client server-based portfolio accounting and management systems for institutional investors. Its systems are used by more than 300 investment managers, mutual funds, insurers, pension funds, banks, and corporations.
