NU Online News Service, April 20, 2005, 5:21 p.m. EDT
Symetra Life Insurance Company is increasing the guaranteed minimum renewal rate available through its custom fixed annuity contracts.[@@]
The Redmond, Wash., insurer started out as the life insurance arm of Safeco Corp., Seattle. A group of investors bought it away from Safeco and set it apart as a separate company in July 2004.
Symetra now says it will be offering a guaranteed minimum renewal rate of 2% to purchasers of its custom fixed annuities, up from a minimum renewal rate of 1.5% available through the old contract.