“GE to End $2.5B Long-Term Care Insurance Reinsurance Arrangement,” by Allison Bell, ThinkAdvisor
“GE put much of its life, annuity and long-term care insurance business in the hands of a separate company, Genworth Financial, in 2004, but kept Employers Re. The end of the reinsurance arrangement means that the company will face less worry about whether it can collect on reinsurance claims. GE will also have $2.5 billion in extra cash to reinvest.”
LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:
So, what does this mean for Genworth, if anything?
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