Dear Symetra Partner:
As the end of the year approaches, I want to thank you for your business and your trust in Symetra.
The last several years have been challenging for our industry as we’ve worked through the complexities of health care reform to provide meaningful and valuable solutions for your clients. With the 2016 election now complete, it seems like we all have more questions than answers about what comes next. None of us knows what is on the horizon, but one thing I am certain of is that Symetra is committed to this business and fulfilling the promises made to you and your clients. We are here to stay, and with your partnership, we can conquer any obstacles we face in 2017 and beyond.
Celebrating our history, focused on growth
This year we celebrated our 40th year as a leader in the medical stop loss business. This is a significant milestone that demonstrates our dedication to the market and to delivering a best-in-class experience every step of the way.
On the group life and disability side, we’ve become a trusted partner known for providing high-touch, personalized service for your clients and their employees. We continue to grow this business, and in October, we were selected as the recommended carrier to accept AIG’s block of 500+ life cases for group life, disability and absence management as they exited the U.S. group life and disability business. This agreement is a great opportunity for us to accelerate our progress with a large block of policies that fit well within our preferred group size.
In addition, we launched a new hospital indemnity, critical illness and group accident package called GapAssist. This turnkey coverage bundle helps employees cover out-of-pocket costs associated with high-deductible health plans. And our standalone Select Benefits fixed-payment medical policy continues to be a valuable product that helps close coverage gaps while providing benefits for part-time, seasonal and temporary workers.
An exciting future
Finally, as you’re probably aware, in 2016 Symetra was purchased by Sumitomo Life Insurance Company—the fourth largest insurer in Japan. We are excited for this opportunity to be Sumitomo’s primary presence and growth platform in the U.S. With their expertise, commitment and financial strength, we have even more resources to make Symetra's vision a reality.
On behalf of the entire Symetra team, I offer our warmest wishes for the holiday season and a prosperous new year. Symetra’s Benefits Division stands ready to meet your group insurance needs in 2017 and the years to come.
Best regards,
Michael Fry
Executive Vice President, Benefits Division
Symetra Life Insurance Company
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