Symetra Financial Corp. has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of common stock.
The offering is to consist of primary shares to be sold by the company and secondary shares to be sold by existing stockholders. Symetra said Monday that it intends to use the net primary proceeds for general corporate purposes, which may include contributions of capital to its insurance subsidiaries and pursuit of its growth strategies.
The company will get no proceeds from stockholders' sale of shares.
An investment group led by White Mountains Insurance Group, Ltd. and Berkshire Hathaway Inc. owns Symetra. Upon completing the offering, both will continue to own common stock in the company.
Symetra of Bellevue, Wash., sells employee benefits, annuities and life insurance through a network of benefit consultants, financial institutions and independent agents and advisers. It had $21 billion of assets under management at June 30.
