Symetra Life Insurance Company has formalized a new organizational structure for each of its three core businesses - retirement solutions, life insurance and group insurance.

The company has appointed Dan Guilbert to head the Retirement Division, who will join the company as executive vice president on 1 November 2010.

In his new role, Guilbert will have profit-and-loss responsibility for all annuity, 403(b) and structured settlement products, and will oversee Retirement Services and Income Annuities departments, and will report to Symetra’s president and CEO Tom Marra.

In addition, the company has named Michael Fry as the new executive vice president of Group Division, which provides medical stop-loss insurance.

The company said that it is conducting a search for an executive to lead its Life Division.

Marra said that by bringing together all of the company’s retirement products and operations under Dan’s leadership will give us a holistic view of that business and drive innovation its need to compete in this challenging interest rate environment.