Symetra Financial Corp. Files Registration Statement for Initial Public Offering

BELLEVUE, Wash.--(Business Wire)--
Symetra Financial Corporation (Symetra) announced today it has filed a
registration statement on Form S-1 with the Securities and Exchange Commission
for a proposed initial public offering of common stock.

The offering will consist of primary shares to be sold by the company and
secondary shares to be sold by some of its existing stockholders. Symetra
intends to use the net primary proceeds from this offering for general corporate
purposes, which may include contributions of capital to its insurance
subsidiaries and pursuit of its growth strategies. The company will not receive
any proceeds from the sale of shares by the selling stockholders.

An investment group led by White Mountains Insurance Group, Ltd. and Berkshire
Hathaway Inc. owns Symetra. Upon completion of this offering, these two
shareholders will continue to beneficially own common stock in the company.

Symetra will apply to list its shares on the New York Stock Exchange under the
symbol "SYA."

A registration statement relating to these securities has been filed with the
Securities and Exchange Commission, but has not yet become effective. These
securities may not be sold, nor may offers to buy be accepted, prior to the time
the registration statement becomes effective. This news release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.

The offering of these securities will be made only by means of a prospectus,
copies of which may be obtained, when available, from BofA Merrill Lynch,
Attention: Prospectus Department, 4 World Financial Center, New York, New York
10080, or by calling 212-449-1000; from J.P. Morgan, 4 Chase Metrotech Center,
CS Level, Brooklyn, New York 11245, Attention: Prospectus Department, or by
calling 718-242-8002; Goldman, Sachs & Co., Prospectus Department, 85 Broad
Street, New York, New York 10004, or by calling 866-471-2526, or by facsimile at
212-902-9316, or by emailing prospectus-ny@ny.email.gs.com; or from Barclays
Capital, c/o Broadridge, Integrated Distribution Services, 1155 Long Island
Avenue, Edgewood, New York 11717, Barclaysprospectus@broadridge.com, or by
calling 888-603-5847.

About Symetra Financial

Symetra Financial Corp. and its subsidiaries provide employee benefits,
annuities and life insurance through a national network of benefit consultants,
financial institutions and independent agents and advisors. Headquartered in
Bellevue, Wash., Symetra and its subsidiaries have approximately $21 billion in
assets.1

1 Total GAAP assets at June 30, 2009.

Symetra and the Symetra Financial logo are registered service marks of Symetra
Life Insurance Company, 777 108th Ave. NE, Suite 1200, Bellevue, WA 98004.

Symetra Financial
Investor Relations Contact:
Jim Pirak, 425-256-8284
jim.pirak@symetra.com
or
Media Relations Contact:
Jennifer Whitman, 425-256-5361
jennifer.whitman@symetra.com

Copyright Business Wire 2009