General Electric is planning to float a $5bn chunk of its Genworth insurance business as early as April, claimed a report.
It said the IPO on the New York Stock Exchange would relate to a 30% stake in Genworth, the holding company for many of General Electric's life, pensions and mortgage insurance operations.
According to the report, the flotation is the first step in General Electric's plans to reduce its exposure to the low-margin insurance sector.
It said the remaining shares in Genworth would be sold over time.
