NU Online News Service, Jan. 16, 2004, 5:42 p.m. EST – Shrinking assets cut profits at GE Financial Assurance, the financial services unit of General Electric Company, Fairfield, Conn., in the fourth quarter of 2003.[@@]
GE Financial Assurance is reporting $138 million in earnings for the quarter, down 54% from $302 million in earnings for the fourth quarter of 2002.
The unit’s assets fell 7%, to $109.1 billion.