BELLEVUE, Wash.--(BUSINESS WIRE)-- Symetra Life Insurance Company today announced the availability of a Yacktman Asset Management sub-advised fund on an exclusive, tax-deferred basis in the new Symetra True Variable Annuity(SM). Yacktman will serve as sub-adviser to one of the funds included in the Symetra Mutual Funds Trust. Earlier today, Symetra Life unveiled its new True variable annuity (VA), which is designed for clients of fee-based and fee-only financial advisers who want low fees,¹ tax deferral and premier investment choices.

“A high-caliber investment lineup is central to Symetra True VA’s value proposition,” said Tom Marra, president and chief executive officer of Symetra Financial Corporation. “With a Yacktman sub-advised fund exclusive to our variable annuity, investors will have access to a highly sought-after fund strategy. When you add the benefits of tax deferral, our partnership with Yacktman brings even more value to advisers and their clients.”

Symetra Investment Management, Inc., a subsidiary of Symetra Financial Corporation, will act as the investment adviser to the new Symetra Mutual Funds Trust family of mutual funds. Yacktman will act as sub-adviser of the Symetra Yacktman Focused Fund and will be responsible for day-to-day portfolio management of the fund.

“We are delighted to be teaming up with Symetra in delivering this unique investment option to the public,” said Donald Yacktman, president and co-chief investment officer of Yacktman Asset Management Co.

The Symetra Yacktman Focused Fund will be managed by the team of Donald Yacktman, Stephen Yacktman, Jason Subotky and Russell Wilkins.

The Symetra Yacktman Focused Fund seeks long-term capital appreciation and, to a lesser extent, income. Under normal market conditions, the Focused Fund pursues its investment objective by investing a majority of its assets in common stock of U.S. issuers. Some, but not all, Fund holdings may pay dividends. The Fund is a non-diversified fund and generally will hold securities of fewer issuers than the typical equity mutual fund. Consistent with this, although the Fund invests in issuers of any size market capitalization, the sub-adviser prefers larger companies to smaller ones.

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.

About Yacktman Asset Management

Yacktman Asset Management Co. serves as an investment adviser to The Yacktman Fund and The Yacktman Focused Fund, as well as separate accounts for taxable and tax-exempt organizations. The firm follows a disciplined investment strategy, typically purchasing high-quality businesses at what it believes to be attractive prices. Founded in 1992, the firm is based in Austin, Texas.

Before investing, carefully consider the investment objectives, risks, charges and expenses. This and other information is contained in the contract prospectus and the underlying fund prospectuses. You may call or write your Registered Representative or Symetra for free copies of the prospectuses or visit www.trueva.com for online copies. Please read them carefully before investing.

Securities are distributed by Symetra Securities, Inc. (SSI). Symetra True Variable Annuity is a flexible premium deferred variable annuity issued by Symetra Life Insurance Company (SLIC). Contract form number is ICC12_RC1 in most states and is not available in all U.S. states or any U.S. territory. SSI and SLIC are affiliates and are both located at 777 108^th Avenue NE, Suite 1200, Bellevue, WA 98004-5135.

Variable annuities, which are suitable for long-term investing, are subject to market risks, including the loss of principal invested. Like many variable annuities, this contract has terms and limitations for keeping it in force. Please contact your Registered Representative for complete details.

¹ Source: Morningstar survey of 1,854 variable annuities on Dec. 31, 2011. The total mortality and expense, administrative and distribution expense fees for True VA equal 0.60%, placing it in the lowest quartile of variable annuities. If the maximum sub-account fund facilitation fee of 0.15%, which is not currently charged, were included in total expenses, True VA would still be in the lowest quartile of variable annuities. The comparison of total expenses does not include fees associated with the underlying funds.

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Symetra Life Insurance Company
Diana McSweeney, 425-256-6167
diana.mcsweeney@symetra.com

Source: Symetra Life Insurance Company