Source: Business Wire

Press Release: GE : Best's Commentary: GE's Long-Term Care Exposure Magnifies Counterparty Risk for Several Insurers

OLDWICK, N.J.--(BUSINESS WIRE)--The potential need for General Electric (GE) to bolster its long-term care (LTC) insurance reserves at two subsidiaries could also generate pressure on insurers that rely on those companies for reinsurance, according to a new AM Best commentary. The Best's Commentary, titled, "GE's Long-Term Care Exposure Magnifies Counterparty Risk for Several Insurers," notes that GE has continually needed to strengthen reserves for assumed LTC blocks of business (including $15

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H. Lawrence Culp's photo - Chairman & CEO of GE

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H. Lawrence Culp

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GE is an industrial conglomerate that operates in aviation, power generation, healthcare, renewable energy, transportati... Read more