GE Reinsurance Announces Formation of Auto Segment

24 March 2000
GE Reinsurance Announces Formation of Auto Segment

    LINCOLNSHIRE, Ill., March 24 GE Reinsurance Corporation
today announced the formation of an Auto Segment.  Kenneth Anderson will lead
the Auto Segment based at the Lincolnshire headquarters.  Anderson joins GE
Reinsurance from GE Capital Auto Financial Services.
    "We are at an important inflection point in the auto business and Ken
brings strong leadership, Six Sigma Quality and e-business excitement to the
GE Reinsurance organization and will bring fresh ideas for our customers.  We
will align ourselves with only those players who can see the advantages these
initiatives can bring to their franchise," said Jim Miller, GE Reinsurance
President and Chief Executive Officer."
    "Our non-standard auto clients and the brokers who represent them have
unique needs in this dynamic market.  Our approach will be to focus a
dedicated team of solution providers on these needs.  The result should be
mutually profitable opportunities," said Miller.
    GE Reinsurance Corporation is one of the largest broker-market reinsurance
companies in North America based on year-end surplus and net written premiums,
and carries A.M. Best A++ and Standard & Poors A+ ratings.  GE Reinsurance
markets its products and services through a selected number of reinsurance
intermediaries from its offices located in Lincolnshire, IL, Overland Park, KS
and New York City.
    GE Reinsurance is a sister company of ERC, the fourth largest reinsurance
company in the world, and a GE Capital company.  GE Capital, with assets of
more than U.S.$345 billion, is a global, diversified financial services
company with 28 specialized businesses.  A wholly owned subsidiary of General
Electric Company, GE Capital, based in Stamford, Conn., provides equipment
management, mid-market and specialized financing, specialty insurance and a
variety of consumer services, such as car leasing, home mortgages and credit
cards, to businesses and individuals around the world.
    GE is a diversified manufacturing, technology and services company with
operations worldwide.  GE was recently named the world's most admired company
by Fortune magazine for the second year in a row.  GE also earned the top spot
in a recent issue of Forbes Magazine World Super 50 list based on revenue, net
income, assets and market value.