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ING Groep Insurance Subsidiaries Placed On CreditWatch Negative On Legacy Variable Annuity Risk Exposures Nov 10

  • ID: 2191409
  • November 2010
  • Standard & Poors
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FEATURED COMPANIES

  • ING Groep N.V.
  • NN Group N.V.
  • NN Re (Netherlands) N.V.
  • ReliaStar Financial Corp.
  • Voya Financial Inc.
  • Voya Holdings Inc.
  • MORE

Abstract
ING Groep N.V. (ING) has announced €869 million of exceptional charges during third-quarter 2010 on its legacy variable annuity (VA) books in the U.S. and Japan. We believe that the risks relating to legacy VA business remain high given the group's exposure to market risk. As these charges could indicate that some of ING's insurance businesses are not as strong as we had previously believed, we are placing our ratings on various insurance entities of ING on CreditWatch with negative implications. LONDON (Standard & Poor's) Nov. 10, 2010--Standard & Poor's Ratings Services said today that it placed its counterparty credit and insurer financial strength ratings on various insurance subsidiaries of ING Groep N.V. (ING; A/Stable/A-1) on CreditWatch with negative implications....

Companies mentioned in this report are:
- ING Groep N.V.
- Reliastar Life Insurance Co.
- Voya Financial Inc.
- NN Group N.V.
- Security Life of Denver Insurance Co.
- Reliastar Life Insurance Co. of New York
- ReliaStar Financial Corp.
- Voya Retirement Insurance and Annuity Co.
- Voya Insurance and Annuity Co.
- Midwestern United Life Insurance Co.
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- ING Groep N.V.
- Reliastar Life Insurance Co.
- Voya Financial Inc.
- NN Group N.V.
- Security Life of Denver Insurance Co.
- Reliastar Life Insurance Co. of New York
- ReliaStar Financial Corp.
- Voya Retirement Insurance and Annuity Co.
- Voya Insurance and Annuity Co.
- Midwestern United Life Insurance Co.
- Equitable of Iowa Cos. Capital Trust II
- NN Re (Netherlands) N.V.
- ING Security Life Institutional Funding
- Voya Holdings Inc.
- Nationale-Nederlanden Levensverzekering Maatschappij N.V.

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown

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