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November 02, 2015

Symetra Names Paul Mistretta SVP and Chief Operations Officer, Individual Life

Symetra also expands Waltham, Massachusetts-based Individual Life offices to support division growth
 
BELLEVUE, Wash.  — Symetra Life Insurance Company today announced the appointment of Paul Mistretta as senior vice president and chief operations officer of its Individual Life Division. He reports to Tom Marra, president and CEO of Symetra Financial Corporation, and will be based in Waltham, Massachusetts. The company also announced a new, larger location for its growing Waltham-based individual life operations, more than doubling the combined space of its two former offices.
 
Mistretta will provide operations leadership and oversee new business and underwriting in Symetra’s Individual Life Division (ILD). He brings to his new role nearly 30 years of life industry experience, most recently serving as president of Prosperity Life Insurance Group (PLIG) in Roanoke, Virginia, where he oversaw all aspects of the holding company and daily operations of its subsidiary, Shenandoah Life. Mistretta also has held senior operations positions with ING, American General Life Insurance Companies and First Colony Life Insurance.
 
Mistretta graduated from Kean College in Union, New Jersey, with a bachelor’s degree in Management Science. He is a Fellow of the Life Management Institute.
 
“Paul’s extensive life operations management experience will be an invaluable asset in Symetra’s individual life business — our fastest-growing business line — as we continue to expand our market presence,” said Marra. “We’ll look to Paul to bring his seasoned leadership and extensive industry experience to our life operations and technology areas.”
 
As reported in Symetra’s third quarter 2015 earnings announcement last week, sales of individual life products were double the prior period. To support the division’s growth, Symetra has consolidated its Winter Street and Turner Street offices into a single, expanded location at Waltham Park (275 Second Avenue), where 75 employees reported for work today. The new space — with more than 40,000 square feet over two floors — can accommodate 175 people. Symetra opened its first office in Waltham at 130 Turner Street in April 2012 with 20 ILD employees.
 
About Symetra
Symetra Life Insurance Company is a subsidiary of Symetra Financial Corporation (NYSE: SYA), a diversified financial services company based in Bellevue, Wash. In business since 1957, Symetra provides employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions, and independent agents and advisors. For more information, visit www.symetra.com.
 


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Contact(s):
Media Relations:
Diana McSweeney
(425) 256-6167
diana.mcsweeney@symetra.com



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