General Electric's chief executive said the company decided to get out of the insurance business because it was eating too much capital and was too tough to handle.
GE Chairman and Chief Executive Officer Jeffrey Immelt's comments came Friday night during an hour-long interview with Charlie Rose on PBS's “The Charlie Rose Show.”
In response to Mr. Rose's question on GE's divestiture of its insurance company, Mr. Immelt said there were two reasons for the move.
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