• GE to take $6.2 billion hit from insurance portfolio

    8 monthes ago - By Reuters

    General Electric Co will take a $6.2 billion charge in its fourth quarter results for a more than decade-old insurance portfolio covering long-term healthcare costs, the company said on Tuesday.
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  • GE slumps after saying it will take a $6.2 billion hit on its insurance business

    GE slumps after saying it will take a $6.2 billion hit on its insurance business

    8 monthes ago - By Business Insider

    Shares of General Electric are down 4% ahead of Tuesday's opening bell after the company said it will take a $6.2 billion charge to its legacy long-term care insurance business.
    GE Capital, the company's finance unit, will inject $15 billion over seven years into the North American Life & Health business in order to maintain healthy funding levels, GE said.
    "At a time when we are moving forward as a company, a charge of this magnitude from a legacy insurance portfolio in run-off for more than a decade is deeply disappointing," CEO John Flannery said in a press release.
    The company outlined...
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  • GE to take $6.2-billion charge tied to GE Capital

    8 monthes ago - By Los Angeles Times

    General Electric is taking a $6.2-billion after-tax charge in the fourth quarter tied to its review and reserve testing of GE Capital's runoff insurance portfolio. GE Capital will also suspend its dividend to GE for the foreseeable future. "At a time when we are moving forward as a company, a charge...
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  • GE to take $6.2 billion charge tied to GE Capital

    8 monthes ago - By Star Tribune


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  • GE Shares Dive on $6.2 Billion Charge for Problems in Its Finance Unit

    8 monthes ago - By Fortune

    General Electric will take a $6.2 billion charge for the fourth quarter as the manufacturing behemoth grapples with lingering problems in a legacy insurance business.
    The after-tax charge will be $7.5 billion when adjusted to the rate following the recent U.S. tax overhaul, GE ge said Tuesday in a statement. The finance unit, GE Capital, will make statutory reserve contributions of about $15 billion over seven years following a lengthy review of the North American Life & Health long-term care portfolio.
    "At a time when we are moving forward as a company, a charge of this magnitude from a...
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  • GE to take $6.2 billion charge related to its legacy reinsurance businesses; stock falls 3.8%

    8 monthes ago - By CNBC

    GE said on Tuesday it would record an after-tax charge of $6.2 billion for the fourth quarter related to its finance arm's run-off insurance portfolio.
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  • GE to take $6.2 billion charge tied to GE Capital

    8 monthes ago - By Boston Herald

    BOSTON - General Electric is taking a $6.2 billion after-tax charge in the fourth quarter tied to its review and reserve testing of GE Capital's runoff insurance portfolio. GE Capital will also suspend its dividend to GE for the foreseeable future. "At a time when we are moving forward as a company, a charge of this magnitude from a legacy insurance portfolio in runoff for more than a decade is deeply disappointing," GE CEO John Flannery said in a company release. Shares of General Electric Co. tumbled more than 4 percent before the market opened Tuesday.
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  • GE to take $6.2 billion after-tax charge in 4Q

    8 monthes ago - By Boston Herald

    BOSTON - General Electric is taking a $6.2 billion after-tax charge in the fourth quarter tied to its review and reserve testing of GE Capital's run-off insurance portfolio. GE Capital will also suspend its dividend to GE for the foreseeable future. GE Capital plans to make statutory reserve contributions of about $15 billion over seven years. It will contribute about $3 billion in 2018's first quarter and approximately $2 billion annually from 2019 through 2024.
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  • GE to take $6.2 billion charge in its finance arm

    8 monthes ago - By Reuters

    General Electric Co will record an after-tax charge of $6.2 billion in its fourth quarter results as part of an ongoing review of its finance arm's insurance portfolio, the company said.
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  • GE to take $6.2 billion charge in its finance arm in fourth quarter

    8 monthes ago - By Reuters

    U.S. industrial conglomerate General Electric Co said on Tuesday it would record an after-tax charge of $6.2 billion for the fourth quarter related to its finance arm's run-off insurance portfolio.
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  • GE to take $6.2 billion after-tax charge in 4Q

    8 monthes ago - By Miami Herald

    General Electric is taking a $6.2 billion after-tax charge in the fourth quarter tied to its review and reserve testing of GE Capital's run-off insurance portfolio. GE Capital will also...
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  • GE to take $6.2 billion after-tax charge in 4Q

    8 monthes ago - By The Seattle Times

    BOSTON - General Electric is taking a $6.2 billion after-tax charge in the fourth quarter tied to its review and reserve testing of GE Capital's run-off insurance portfolio. GE Capital will also suspend its dividend to GE for the foreseeable future. GE Capital plans to make statutory reserve contributions of about $15 billion over...
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