Speak with a Registered Agent: 1-866-223-2121

Speak with a Registered Agent: 1-866-223-2121

Fixed Annuities Help Symetra’s Strong 1st Quarter


From a company press release, Symetra Financial showed strong first quarter 2010 results.  Their net income increased to $46.3 million from $5.1 million in the first quarter of last year.  With an increase of 30% in their adjusted operating income over last year, Symetra went from $32.2 million to $41.9 million.  They are pleased with the sales in all of their distribution channels because total sales increased after a slight decrease at the end of 2009.

Their Retirement Services segment includes deferred variable and fixed annuities, along with retirement plans.  Led by excellent sales of fixed deferred annuities, account values were at a record level high in the first quarter 2010.  Retirement Services produced $17.3 million last quarter in pretax adjusted operating income, which was up from $9.0 million the same quarter last year.

Income Annuities, including single premium immediate annuities and structured settlements, were actually down from last year.  This is because mortality losses were much higher than last year’s abnormal mortality gains.  The actual sales of $66.3 million were an increase from last years $40.4 million in income annuity sales.  These annuity products have high popularity because many consumers are looking for low-risk lifetime income investments.

For more information about the product mentioned in this article contact us here:

Newest Blog Posts

Information Request Form

If you have questions or would like more information, please complete this form and a licensed professional will be happy to help. For the fastest response, please select 'Phone' as your Contact Preference.

By providing your information and clicking 'Submit' above, you acknowledge that you have read and agree to this site's privacy policy. You also provide your consent to be contacted at the email address or phone number provided above (including any wireless number) by licensed agents or representatives from or on behalf of AFYI Holdings Group, LLC and other companies to provide the information requested and/or offer annuities or financial products. You understand that these calls or SMS messages may be generated using an automated telephone dialing system, a pre-recorded message, or artificial voice. Consent to receive such messages is not a condition to purchase any goods or services. You may opt out at any time by following the instructions in the messages you receive.  Receiving quotes and information through our website is free, and you are under no obligation to purchase any goods or services as a result of this request. You affirm that you are the subscriber of the provided telephone number or that the subscriber authorized you to provide the number. Message and data rates may apply. AFYI Holdings Group, LLC is committed to respecting your privacy and adhering to all applicable laws and regulations, including the Telephone Consumer Protection Act (TCPA).