(Reuters) - General Electric Co said https://www.ge.com/investor-relations/sites/default/files/GE_Capital_Insurance_Teach-In_Presentation.pdf on Thursday it believes its current reserves were "well-supported" for its ailing insurance business, as the U.S. industrial conglomerate continues to explore options to reduce insurance risk.
The Boston-based conglomerate said that, roughly in line with earlier statements, it had raised a further $1.9 billion (1.4 billion pounds) in statutory reserves in the first quarter of this year.
The company added it was on course to raise around further $9 billion by 2024 as it seeks to cover the cost of long-term care policies taken out more than a decade ago.
(Reporting by Alwyn Scott in New York and Ankit Ajmera in Bengaluru; Editing by Bill Rigby, Saumyadeb Chakrabarty)
