M&A activity in the insurance industry continued its hot streak overnight with two insurers announcing deals.

Sumitomo Life, a Japan-based life insurance carrier, has acquired Symetra Life, based in Bellevue, Wash., for $3.8 billion dollars. Formerly owned by Berkshire Hathaway, Symetra provides a foothold fo Sumitomo in the U.S., where it currently has no presence. Sumitomo is the fifth-largest life insurer in Japan.

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