Symetra Financial Hopes to Raise $750 Million in Public Offering

Symetra Financial Corp. out of Bellevue, Wash., said Friday it filed for an initial public offering of common shares.

The shares will be offered by existing stockholders.

The IPO expects to raise up to $750 million, according to a filing with the Securities and Exchange Commission.

Symetra is owned by an investor group led by White Mountains Insurance Group Ltd. and Berkshire Hathaway Inc. Symetra company sells retirement plans, employee benefits, annuities and life insurance.

Merrill Lynch & Co., Goldman, Sachs & Co., JPMorgan and Lehman Brothers are underwriters for the IPO.

The shares are expected to list on the New York Stock Exchange under the ticker symbol “SYA.”