General Electric Co. on Friday forecast sharper earnings growth for 2006, boosted its dividend and stock buyback plan and agreed to sell most of its reinsurance business to Swiss Re for up to $7.6 billion.
GE said it will incur a $2.8 billion after-tax charge from the deal, but that being able to scale back its insurance unit will free it from a business that had been a drag on earnings and cash flow in recent years.
