Symetra Financial announced that its stockholders overwhelmingly adopted the Agreement and Plan of Merger, dated Aug. 11, 2015, among Symetra, Sumitomo Life Insurance Company (Sumitomo) and SLIC Financial Corporation, which provides for the acquisition of Symetra by Sumitomo, at a Special Meeting of Symetra’s stockholders held earlier today.
More than 99.7 percent of votes cast at the Special Meeting were cast in favor of the transaction, representing more than 85.2 percent of all outstanding Symetra shares as of the record date for the Special Meeting.
Symetra continues to expect the transaction to close late in the first quarter or early in the second quarter of 2016.
Completion of the transaction remains subject to various closing conditions, including, but not limited to, the receipt of certain regulatory approvals in Japan and the United States, and other customary closing conditions.
Symetra Financial is a diversified financial services company based in Bellevue, Wash. In business since 1957, Symetra provides employee benefits, annuities and life insurance through a national network of benefits consultants, financial institutions and independent agents and advisors.