GE to take $6.2 billion charge in its finance arm in fourth quarter

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GE to take $6.2 billion charge in its finance arm in fourth quarter


2018-01-16 11:58:04

(Reuters) – U.S. industrial conglomerate General Electric Co said on Tuesday it would record an after-tax charge of $6.2 billion for the fourth quarter related to its finance arm’s run-off insurance portfolio.

GE, which has been reviewing its insurance reserves, also said its GE Capital unit expects to make statutory reserve contributions of about $15 billion over seven years.

Reporting by Ankit Ajmera in Bengaluru; Editing by Saumyadeb Chakrabarty

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