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Fly News Breaks for August 16, 2019
GE
Aug 16, 2019 | 09:23 EDT
Goldman Sachs analyst Joe Ritchie, in conjunction with Alex Scott, the firm's primary coverage analyst on North American Life Insurance, ran a comparison of Statutory Reserves per life for General Electric's Long-term Care business relative to peers in response to "significant client interest," though the firm is Not Rated on GE. They concluded that GE's statutory reserves per life, adjusted for the reversal of a permitted practice, are greater than any of the peer blocks they were able to locate and that GE's reserve levels compare favorably to peers, though they also said they find this rational as GE's policies have "more aggressive features." The analyst also noted that GE's long term care reserves actuarial review concludes in Q3.