Pros
The benefits are outstanding; the company definitely invests a great deal of time and money in keeping employees healthy, happy, secure, and able to maintain a good work/life balance. Certainly above average in this category. All of the people I've worked with are also very skilled and passionate about what they do, and communicate and work together well; fostering a positive, productive and friendly work atmosphere. The work also feels very important, meaningful, and is nothing like working for a typical insurance company (I have in the past), and most of the time I even forget that it is one. There's a clear emphasis on research, science, and engineering.
Cons
The salaries and salary increases are said to be competitive, but seem as though they may tend to be slightly below average (based on discussions with co-workers). Certainly not above average, as the benefits. Advancement through the company is more difficult than advertised. The opportunities are certainly there, but the competition for those opportunities is high, and the people chosen for them is very few. It doesn't seem too uncommon to end up stagnant for 5-7+ years, even with hard work and great reviews, before receiving any kind of a reasonable promotion.