Financial News - GE plans insurance withdrawal.

(From Post Magazine)

Global giant General Electric has confirmed it is planning to sell off all of its remaining insurance-related operations.

Ron Pressman, chief executive of GE Insurance Solutions, said in a press conference that the parent company was planning to sell the operations off one by one, until it has no involvement in the insurance sector over time.

Mr Pressman's comments came almost exactly a year after GE's reinsurance arm, formerly trading under the Employers Reinsurance and Frankona banners, underwent a substantial rebranding and reorganisation.

Mr Pressman did not state an exact time period but he did say ...