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In June 2006, the company agreed to buy AssetMark Investment Services for $230 million. [14] In 2007, another GE Capital insurance company, First Colony Life Insurance Company, merged with the company's life insurance division and became the surviving entity. [15] In May 2007, the company sold its employee benefits business to Sun Life ...
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GE Capital Bank was a member of the Federal Deposit Insurance Corporation (FDIC). GE Capital Bank was sold to Goldman Sachs in 2016. [67] GE Capital owned WMC Mortgage from 2004 to 2007. [68] The company briefly owned Kidder, Peabody & Company from 1986 until its sale to PaineWebber in 1994. [69] [70] [71]
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While the Federal Reserve doesn't set mortgage rates, this central bank of the U.S. sets benchmark rates that indirectly affect rates on financial products like mortgages, personal loans and ...
1955. Founder. Edwin Horner. Headquarters. Lynchburg, Virginia. First Colony Life (FCL) was an American life insurance company based in Lynchburg, Virginia that was acquired in 1996 by GE Financial Assurance (a subsidiary of General Electric), and later became Genworth Life and Annuity Insurance Company, a Genworth Financial company in 2007.
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