GE Capital Corp. has closed its $1.78 billion deal to acquire the insurance company First Colony Corp.

Stamford, Conn.-based GE Capital has been a large seller of annuities through banks via GNA Corp., a Seattle-based subsidiary. With the acquisition of First Colony, Lynchburg, Va., GNA is set to become a specialist in selling term insurance through banks.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.