image: GE

GE Still Grappling with Legacy Insurance Business

January 16, 2018

General Electric Co. 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 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.

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