Symetra Financial Announces Leadership Change
Symetra Financial Corporation (NYSE: SYA) today announced that its board of directors has named Thomas M. Marra as president and chief executive officer of the company. Marra also will serve on Symetra’s board of directors. He succeeds Randall H. Talbot, who has led the company for the past 12 years and is leaving to pursue other opportunities.
Marra, 51, brings to Symetra 30 years of insurance experience. He joined The Hartford Financial Services Group, Inc., in 1980 as an actuarial student and subsequently held increasingly senior positions at the company, including executive vice president of Hartford Life, Inc., a subsidiary of The Hartford, beginning in 1996; chief operating officer of Hartford Life, beginning in 2000; and president of Hartford Life, beginning in 2002. Marra served as president and chief operating officer of The Hartford Financial Services Group from 2007 to 2009.
Marra held various directorships at The Hartford, including at the parent company and its subsidiaries. He served as chairman of the National Association of Variable Annuities and as chairman of the American Council of Life Insurers. He is a Fellow of the Society of Actuaries, a member of the American Academy of Actuaries, and he serves on the board of St. Bonaventure University.
“Tom Marra is an extremely capable and accomplished leader whose significant experience in the industry and in managing a public company will greatly benefit our business,” said Lon Smith, chairman of Symetra’s board of directors. “The Symetra board is confident in his ability to take the company to the next level of success as its new CEO.”
Marra said, “I am excited about the opportunity to be a part of this organization. I am eager to assume my new responsibilities and build on Randy’s legacy, leading Symetra to continued growth and profitability in the industry.”
During Talbot’s tenure as president and chief executive officer, Symetra emerged as a leading life insurance and financial services company. Talbot successfully guided the company through its initial public offering (IPO) and listing on the New York Stock Exchange earlier this year.
“It was an honor to lead the Symetra team on the path to becoming an independent, publicly traded company, and I look forward to working with Tom to ensure a smooth transition as he builds this great enterprise going forward,” said Talbot.
On behalf of Symetra’s board of directors, Smith said, “We are grateful to Randy for his dedicated leadership and for the many contributions he made to transform Symetra into a strong, growing insurance and financial services company.”
David Foy, Symetra director and former chairman of the board, stated, “Randy did a tremendous job transitioning Symetra from its former owner, rebuilding distribution and leading the company through the recent IPO. It has been a great partnership the past six years that has created significant value for the owners of Symetra. We thank Randy and wish him the very best.”
Conference Call on June 8 at 10 a.m., EDT
The company will hold a conference call with investors and financial analysts on Tuesday, June 8, 2010 at 10 a.m., Eastern Time (7 a.m., Pacific Time). To join the call, dial 800-259-0251. For international callers, dial 617-614-3671. The access code is 49600612. A replay of the call will be available at approximately 1 p.m., Eastern Time (10 a.m., Pacific Time) on June 8, 2010 by dialing 888-286-8010. For international callers, dial 617-801-6888. The access code is 91472113. The replay will be available through June 15, 2010.
About Symetra Financial
Symetra Financial Corporation (NYSE: SYA) is a diversified financial services company based in Bellevue, Washington. In business since 1957, Symetra provides employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions, and independent agents and advisors. For more information, visit www.symetra.com.
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