Symetra and Mutual of America Add Annuity Affiliates
January 9, 2023 by Allison Bell
Two life insurers — Symetra Financial and Mutual of America Financial Group — have completed deals to support their annuity operations.
Symetra has started a Bermuda-based company, Symetra Bermuda Re Ltd., to provide reinsurance for an 80% quota share of fixed deferred and non-variable indexed annuities issued by its main life insurance company on or after Jan. 1, 2022.
Mutual of America said it has acquired Landmark Life Insurance Company, a Brownwood, Texas-based insurer, from The Jarvis Family Limited Partnership to “offer products in the guaranteed retirement income space in 2023.”
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