January 16, 2018 / 1:12 PM / 8 months ago

BRIEF-GE- Review For GE Capital’S Run-Off Insurance Portfolio, Nalh, Will Result In An After-Tax GAAP Charge Of $6.2 Bln For Q4 2017

Jan 16 (Reuters) - General Electric Co:

* GE- REVIEW FOR GE CAPITAL’S RUN-OFF INSURANCE PORTFOLIO, NALH, WILL RESULT IN AN AFTER-TAX GAAP CHARGE OF $6.2 BILLION FOR Q4 2017

* GENERAL ELECTRIC CO - INSURANCE REVIEW TO HAVE NO IMPACT TO INDUSTRIAL BUSINESS AND 2018 CAPITAL ALLOCATION PLAN‍​

* GE- GE CAPITAL EXPECTS TO MAKE STATUTORY RESERVE CONTRIBUTIONS OF ABOUT $15 BILLION OVER SEVEN YEARS

* GENERAL ELECTRIC CO - GE CAPITAL TO FUND CONTRIBUTIONS AND SUSPEND DIVIDEND TO GE FOR “FORSEEABLE FUTURE”

* GE- NALH’S PRIMARY REGULATOR APPROVED A PHASED CONTRIBUTION OF ABOUT $3 BILLION IN 1Q’18 AND ABOUT $2 BILLION ANNUALLY FROM 2019 THROUGH 2024

* GE - ONGOING ACTIONS OVER NEXT TWO YEARS “TO MAKE GE CAPITAL SMALLER, MORE FOCUSED AND RESTORE ITS CAPITAL RATIOS TO APPROPRIATE LEVELS”

* GE - GOODWILL AND OTHER NON-CASH IMPAIRMENTS OF $1.8 BILLION AFTER-TAX RELATED TO GE CAPITAL ACTIONS‍​

* GE - EXPECTS $9.5 BILLION PRE-TAX, $6.2 BILLION AFTER-TAX GAAP CHARGE IN Q4; $7.5 BILLION AFTER-TAX IMPACT AT 21% TAX RATE (POST U.S. TAX REFORM)

* GE CEO SAYS "CHARGE OF THIS MAGNITUDE FROM A LEGACY INSURANCE PORTFOLIO IN RUN-OFF FOR MORE THAN A DECADE IS DEEPLY DISAPPOINTING" Source text: (bit.ly/2B4wy2t) Further company coverage:

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