GE Life to reveal new name

GE Life is to reveal its new name on Wednesday April 11 following its sale to Swiss Re last October.

The former insurance arm of General Electric was acquired by Swiss Re on October 13 for £465m.

The acquisition saw Swiss Re acquire around 400,000 policies with total assets of approximately £8bn. The portfolio is composed primarily of savings and income retirement planning products.

At the time it was stated that GE Life would continue to write new business through financial advisers under a new brand name to be announced in 2007.

Although it is still unknown what the new name will be, GE Life has confirmed to Mortgage Strategy that it will be revealing the brand on April 11 at an evening event for industry figures.

In February GE Life announced it was pulling out of the home reversion market, blaming low profits from the sector since regulation.