Symetra Life Insurance Company has acquired Dearborn Group’s life and disability business through a reinsurance agreement, alongside a distribution agreement with HCSC, expected to enhance Symetra's annualized premium to $1.1 billion.

Target Information

Symetra Life Insurance Company has successfully acquired the life and disability business of Dearborn Group through a reinsurance agreement that finalized on October 1, 2025. This acquisition follows a definitive agreement reported on June 30, 2025, and marks a significant step in Symetra's expansion strategy. The transaction also includes a multi-year distribution agreement with Health Care Service Corporation (HCSC), Dearborn Group's parent company, allowing Symetra's Life and Disability (LAD) products to be offered to HCSC’s health care customers. This acquisition is anticipated to elevate Symetra's LAD business to an annualized premium of $1.1 billion and cover an additional 2.5 million lives.

Industry Overview

The life and disability insurance sector in the United States has experienced consistent growth, propelled by an increasing awareness of the importance of financial security and employee benefits. The demand for comprehensive benefit packages is rising as businesses recognize the need to attract and retain talent through competitive offerings. This trend is particularly pronounced within health care organizations, where employee welfare is critical for operational efficiency.

Within the health care industry, insurers are increasingly diversifying their offerings to include ancillary benefits alongside traditional medical coverage. These include life insurance, short- and long-term disa