GE Life reviews £5m business

Insurance group GE Life is understood to be reviewing its £5m media buying and planning account, held by Total Media. The company specialises in products for the over-55s, including long-term care insurance, pension annuities, home-income p

Insurance group GE Life is understood to be reviewing its &£5m media buying and planning account, held by Total Media.

The company specialises in products for the over-55s, including long-term care insurance, pension annuities, home-income plans and bonds.

GE Life uses a variety of media, including TV, press and the “grey” magazine market.

A number of media agencies are believed to have been approached about the review. The creative business is handled by Tunbridge Wells agency WFCA.

A spokesman for GE Life refused to comment on the review.

GE Life is the UK arm of US-based General Electric. The company was set up last summer when it merged its GE Financial Assurance division with Stalwart, which it bought for &£43m in 1997.

The long-term care market – in which people take out insurance cover for their old age – is one of the largest insurance sectors in the US. GE Life’s parent company, which has a market value of more than $250bn (&£157bn), is the leading player in the sector.

Many analysts believe the UK market is likely to experience major growth on the back of fears over whether the state will be able to afford adequate pension and benefit provision.

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