Law firm Sidley assists Dearborn Group in selling life and disability business to Symetra Life Insurance.

the close of the transaction, Dearborn Group will pivot its focus towards its expanding dental, vision, and supplemental health product and service offerings.
A prominent team at Sidley, led by Vincent Onorato, Amanda Todd, and Cameron Baxendale, spearheaded this deal. The team also included Sara N. Africano, Tu Tu, Nicole Mouzakiotis, Michaela Cappucci, Jordan Papai, and Spencer K. Caro, specializing in M&A and Private Equity within the insurance sector. Moreover, Carrie Mahan, Mary Marks, and Nicole Booth provided expertise in Antitrust and Competition, while Eileen Liu, Mary Niehaus, and Gregory Matisoff contributed insights on Employee Benefits and Executive Compensation. Additionally, Trevor Wear and Kim Schroer shared their knowledge regarding Healthcare, with Teresa Reuter and Ryan Martin focusing on Labor, Employment, and Immigration matters. Privacy and Cybersecurity perspectives were brought forth by Lauren Kitces, and the tax implications were handled by Peter Edgerton, Nathan Enfield, and Sebastian Richardson, along with Mark Kaufman who looked into Technology and Life Sciences Transactions.
The sale of Dearborn’s group life and disability business to Symetra Life Insurance Company marks a significant move in the ancillary benefits sector. Symetra’s acquisition of Dearborn’s life and disability business through a reinsurance transaction illustrates a strategic alignment between the companies. This strategic move will not only bolster Symetra’s presence in the retirement and employee benefit insurance market but also open up avenues for product distribution through its parent company, Health Care Service Corporation.
Following the completion of the transaction, Dearborn Group intends to realign its focus towards its dental, vision, and supplemental health product and service lines, diversifying its offerings within the industry. This transformation will allow Dearborn Group to leverage its resources more effectively and concentrate on its growing segments in the ancillary benefits market.
In conclusion, the sale of Dearborn’s life and disability business to Symetra Life Insurance Company represents a strategic realignment in the ancillary benefits sector. This move underscores the evolving landscape of insurance and benefits providers, signaling a shift towards specialized offerings and strategic partnerships within the industry. As companies like Dearborn Group and Symetra Life Insurance Company navigate this changing landscape, strategic transactions like this reinsurance deal are pivotal in reshaping the competitive landscape and driving growth in the sector.