GE Life says new identity will help it succeed in equity release sector

GE Life is set 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 about 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 this year.

Although the new name has yet to be made public, GE Life has confirmed to Mortgage Strat-egy that it will reveal the brand at an evening event for the industry next month.

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

Simon Little, equity release product and marketing manager at GE Life, says: “We are particularly excited about the new name and branding.

“We believe it will help us move forward in the markets in which we are operating, particularly in the field of equity release.”