ING Groep N.V. Mar 10

  • ID: 2191522
  • March 2010
  • Standard & Poors
1 of 3


  • ING Bank (Australia) Ltd.
  • ING Bank Mexico S.A.
  • ING Bank N.V.
  • ING Belgium S.A./N.V.
  • ING Groep N.V.
  • NN Group N.V.
  • MORE

Sound capital position. Strong domestic banking and insurance franchises. Good geographic diversification in both banking and insurance. Potential for strategic distraction while undertaking group restructuring. Challenging operating environment. ING Groep N.V. is the Netherlands-incorporated nonoperational holding company of the ING group, active in both banking and insurance operations internationally, primarily through ING Bank N.V. and ING Verzekeringen N.V., respectively. In October 2009, ING announced that, as required by the European Commission's (EC) state aid investigation, it would spin off its insurance operations by the end of 2013. As a result, Standard & Poor's Ratings Services' ratings on ING no longer incorporate any benefits to the group from the diversification provided by owning banking and insurance operations. Our ratings on ING...

Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

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- ING Groep N.V.
- Reliastar Life Insurance Co.
- Voya Financial Inc.
- NN Group N.V.
- ING Belgium S.A./N.V.
- Security Life of Denver Insurance Co.
- Reliastar Life Insurance Co. of New York
- Voya Retirement Insurance and Annuity Co.
- ING Bank N.V.
- Internationale Nederlanden (U.S.) Funding Corp.
- Voya Insurance and Annuity Co.
- Midwestern United Life Insurance Co.
- ING Bank (Australia) Ltd.
- Nationale-Nederlanden Schadeverz. Mij. N.V.
- OnePath Life Ltd.
- NN Life Insurance Co. Ltd.
- ING Bank Mexico S.A.
- NN Re (Netherlands) N.V.
- ING Security Life Institutional Funding
- Voya Holdings Inc.
- ING Bank N.V. (Sydney Branch)
- ING U.S. Global Funding Trusts
- Nationale-Nederlanden Levensverzekeringen Maatschappij N.V

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3 of 3
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