BELLEVUE, Wash. — Symetra Financial Corporation's (NYSE: SYA) board of directors has appointed Peter S. Burgess as director, effective June 25, 2010. Burgess will serve on the board’s Audit and Finance Committees and will stand for election at the company's annual meeting of shareholders in May 2011.
Symetra’s board of directors also accepted the resignation of David I. Schamis, managing director of J.C. Flowers & Co., effective June 25, 2010. J.C. Flowers & Co. sold its investment position in Symetra during the company’s initial public offering in January 2010.
Burgess, 67, is an independent adviser on financial and governance issues to insurance companies and their audit committees. He previously spent 35 years at Arthur Andersen LLP as an accountant and partner. Until his retirement from Arthur Andersen in 1999, Burgess was responsible for the audits of many insurance and financial services companies.
“Peter brings to the Symetra board proven accounting and financial reporting expertise and a thorough understanding of the insurance industry," said Lon Smith, Symetra’s chairman of the board. "We are delighted to welcome Peter to the board and look forward to his contributions as Symetra continues its evolution as a public company.”
A Certified Public Accountant, Burgess is a past member of the American Institute of Certified Public Accountants (AICPA) committee that established accounting and auditing standards for the insurance industry. He currently serves as a director of PMA Capital Corporation, Lincoln Educational Services Corporation, and John Hancock Trust and John Hancock Funds II. Burgess earned a Bachelor of Science degree in business administration at Lehigh University.
About Symetra Financial
Symetra Financial Corporation (NYSE: SYA) is 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.