GENERAL ELECTRIC has revived plans to sell its UK life insurance arm, reports The Daily Telegraph .
According to the paper, Swiss Re and XL Capital are understood to be among the leading bidders, while Pearl Group, the company run by entrepreneur Hugh Osmond, has also looked at GE Life, but is now thought unlikely to bid. The sale of GE Life appeared to have been abandoned last month after Sanlam, the South African insurer which had been in exclusive talks about a deal, pulled out. However, a new auction process was started this month by Hawkpoint, the investment bank called in to handle the sale. The first deadline for bids is understood to be this Friday. GE Life has about £7bn in...
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