Sumitomo Life to buy U.S. insurer Symetra for $3.8 billionStaff writer ▼ | August 12, 2015
Sumitomo Life has agreed to buy U.S insurer Symetra Financial Corp (SYA.N) for about $3.8 billion.
Acquisition $32 per Symetra share
Symetra provides employee benefits, annuities and life insurance. It is partly owned by White Mountains Insurance Group, a holding company of several financial services companies.
Symetra's largest shareholders, White Mountains and Berkshire Hathaway, which have about 18 percent and 17 percent respectively, have agreed to vote in favor of the transaction, Symetra said in a statement. ■