The core problem was that GE had made some bad decisions in reinsuring the long-term care policies. Once it was clear that the company had amassed a collection of some of the worst insurance assets possible, there was no chance it could find a buyer. A Justice Department investigation of the holdings was also making the asset impossible to sell. Meanwhile, as former employees described it, lax oversight and buried risks would keep the company from realizing the worsening results over the years and booking bigger reserves. GE has denied allegations of fraud. As of early 2018, GE was reinsuring
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