Symetra Investment Management will manage U.S. investments for Sumitomo Life
BELLEVUE, Wash. — Symetra Financial Corporation today announced that it has established an investment subsidiary, Symetra Investment Management Company (SIM). The standalone entity will initially focus on facilitating the ability of Symetra’s Japan-based parent, Sumitomo Life Insurance Company, to invest in U.S.-based assets utilizing the expertise of the SIM team. Sumitomo completed its first investment of $500 million through a corporate bond fund in December 2019.
The initiative positions Symetra to expand its investment capabilities and assets under management. “Symetra’s guiding principles of Value, Transparency and Sustainability define our commitment to our customers. Managing our investments with an eye toward long-term sustainability is central to our investing philosophy. Symetra Investment Management helps us advance this approach and maintain the financial strength and resilience our customers, and parent company, can rely on,” said Margaret Meister, president and chief executive officer, Symetra Financial.
Mark E. Hunt oversees SIM’s portfolios and strategy as president. He continues to serve as executive vice president and chief investment officer for Symetra Financial. SIM’s investment management operations include a fixed income team based in Farmington, Connecticut, and a commercial mortgage loans team based in Bellevue, Washington.
“Today, SIM’s team manages nearly $40 billion in assets, generating strong returns to support our obligations to policyholders and advance the long-term success and sustainability of Symetra. We will continue to build on those strengths through Symetra Investment Management to deliver strong investment returns for Symetra and Sumitomo,” said Mark Hunt.
In addition to Mr. Hunt, the SIM team includes Colin Elder, senior managing director and head of commercial mortgage loans; Nicholas Mocciolo, senior managing director and head of structured bonds and derivatives; and Evan Moskovit, senior managing director and head of corporate fixed income.
Symetra Investment Management Team
Mark Hunt, president of SIM and executive vice president and chief investment officer of Symetra Financial Corporation and its insurance subsidiaries, directs the company's investment policy and strategy, and oversees Symetra's nearly $40 billion investment portfolio. Mr. Hunt joined Symetra in January 2015 from White Mountains Advisors, LLC, a financial investment advisory firm headquartered in Guilford, Connecticut, where he was managing director responsible for all life company portfolios and alternative investments for all clients, including Symetra. Prior to White Mountains, Mr. Hunt headed portfolio risk management and alternative investments at Hartford Investment Management Company. His more than three decades of experience in the insurance industry also includes actuarial and investment management roles at State Mutual Life and Connecticut Mutual.
Colin Elder, senior managing director and head of commercial mortgage loans, has over 33 years of commercial real estate experience in the areas of loan origination, underwriting, closing and servicing. Mr. Elder oversees Symetra’s approximately $7 billion commercial mortgage loan portfolio. Prior to joining the company in 2007, he managed the nationwide real estate originations team as a vice president and production manager with Genworth Financial. Mr. Elder’s background includes roles with Seattle-based life insurer GNA and its successors, GE Financial Assurance, GE Asset Management and Genworth.
Nicholas Mocciolo, senior managing director and head of structured bonds and derivatives, oversees Symetra’s approximately $12 billion derivatives and nearly $7 billion structured finance portfolios. Mr. Mocciolo joined Symetra in January 2015 from White Mountains Advisors, LLC, where he led the derivatives sector and participated in Symetra general account portfolio management. Prior to White Mountains, Mr. Mocciolo was senior vice president, senior portfolio manager, derivatives, at Hartford Investment Management Company, where he was responsible for The Hartford’s enterprise-wide derivatives hedging activities.
Evan Moskovit, senior managing director and head of corporate fixed income, oversees Symetra’s approximately $20 billion corporate bond portfolio. Mr. Moskovit joined Symetra in August 2016 from NN Investment Partners in New York, formerly ING Investment Management, where he was head of global investment grade credit and lead portfolio manager. His prior roles include head of fixed income for Sun Capital Advisers, LLC, the registered investment management subsidiary of Sun Life Financial. Mr. Moskovit’s 25-year investment management career also includes senior roles at Shepherd Financial Partners.
Symetra Investment Management Company is not currently soliciting or accepting investment advisory clients.
Symetra Financial Corporation is a diversified financial services company based in Bellevue, Washington. 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.