GE Said To Be In Talks To Sell Life Re Business
The General Electric Company, Fairfield, Conn., is said to be discussing the possible sale of GE Employers Reinsurance Corp.s life reinsurance business to Swiss Reinsurance Co., Zurich, according to a report in the Wall Street Journal last week.
At press time, National Underwriter could not confirm the report. A spokesman for GE said the company would not comment on “speculative coverage.”
GE acknowledged late last year that it was exploring the sale of both the life and property-casualty businesses of its ERC unit due to poor financial results.