Reinsurance News
General Electric
Kansas regulator disputes fraud allegations against GE reinsurance unit
20th August 2019
The Kansas Insurance Department has released a statement disputing recent fraud allegations against the long-term care reinsurance business of General Electric (GE), which it says may have overlooked key considerations. “After initial review, components of this particular report appear fairly simplistic in nature and don’t appear to incorporate certain technical reserve ... Read the full article
General Electric looks to sell failing insurance business
25th May 2018
General Electric Co (GE) has been working with investment bankers to explore ways to shed its struggling insurance business, amid shareholder lawsuits and an investigation by U.S regulators, according to sources at Reuters. In January, GE announced that it would take a $6.2 billion after-tax charge and set aside a further ... Read the full article
General Electric hit with $6.2 billion charge on legacy insurance portfolio
16th January 2018
General Electric has been hit with a GAAP after-tax charge of $6.2 billion, or $7.5 billion when adjusted to the new tax rate, tied to a legacy insurance portfolio. In addition, the company's finance unit will make statutory reserve contributions of $15 billion over seven years to fill a shortfall in ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
