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GE May Sell Life Reinsurance Business

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NU Online News Service, Nov. 21, 1:07 p.m. – General Electric Company, Fairfield, Conn., may sell the life reinsurance business at its Employers Reinsurance Corp. unit, company executives said today during a presentation distributed on the Web.

The reinsurance unit generates about $8 billion in revenue per year, but General Electric says it will have to take a $1.4 billion charge to increase the unit’s claims reserves.