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Symetra to Update Retirement Distribution Strategy

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Symetra Life Insurance Company says it wants to “expand its retirement distribution channels’ beyond its current bank, independent broker-dealer and wirehouse relationships.

The Bellevue, Washington-based company has named Rich LaVoice to be executive vice president for retirement distribution strategy.

(Related: Sumitomo Life to Acquire Buffett-Backed Symetra for $3.8 Billion 

The company, which is a unit of Sumitomo Life of Japan, has also named Wes Severin to be senior vice president for retirement distribution, and Andrew Ferrell to be vice president and national sales manager.

LaVoice previously was executive vice president for sales and distribution. He has a bachelor’s degree from the University of Massachusetts at Amherst.

Dan Guilbert, the executive vice president in charge of Symetra’s individual life and retirement divisions, noted in a statement accompanying the executive change announcement that LaVoice has helped Symetra build relationships with bank distributors, and established distribution networks for the company’s indexed annuity products.

Symetra did not say what types of distribution channels the company hopes to add or expand going forward.

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