Japan's Sumitomo Life Pays $3.8 Billion for Symetra Financial

NEW YORK (The Deal) -- Sumitomo Life Insurance, the Tokyo-based life insurer, agreed to acquire Symetra Financial of Bellevue, Wash., in an all-cash deal valued at $3.8 billion, the company announced on Tuesday. The deal is the latest in a string of acquisitions of U.S. insurers by their Japanese counterparts. Symetra, which provides employee benefits, annuities, and life insurance, shareholders will receive $32 per share in cash when the deal closes, which is expected to be late in the first qu...