Excerpt:
General Electric has agreed to end a long-term care insurance reinsurance relationship backed by $2.5 billion in assets.
The Boston-based company said Tuesday that it hopes to get the assets back by the end of the year.
….
For GE, the end of the reinsurance arrangement means that the company will face less worry about whether it can collect on reinsurance claims.
“This reduces counterparty risk,” Happe said.
GE will also have $2.5 billion in extra cash to reinvest.
Author(s): Allison Bell
Publication Date: 26 Oct 2022
Publication Site: Think Advisor