ING Groep N.V. Mar 10
Standard & Poors, March 2010
Abstract
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
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Research Type: Full Analysis
- ING Groep N.V.
- Reliastar Life Insurance Co.
- ING U.S., Inc.
- ING Verzekeringen N.V.
- ING Belgium S.A./N.V.
- Security Life of Denver Insurance Co.
- Reliastar Life Insurance Co. of New York
- ING Life Insurance & Annuity Co.
- ING Bank N.V.
- Internationale Nederlanden (U.S.) Funding Corp.
- ING U.S. Annuity and Life Insurance Co.
- Midwestern United Life Insurance Co.
- ING Bank (Australia) Ltd.
- Nationale-Nederlanden Schadeverz. Mij. N.V. (Unsolicited Ratings)
- OnePath Life Ltd.
- ING Life Insurance Co. Ltd.
- ING Bank Mexico S.A.
- ING Re (Netherlands) N.V.
- ING Security Life Institutional Funding
- Lion Connecticut Holdings Inc.
- ING Bank N.V. (Sydney Branch)
- ING U.S. Global Funding Trusts
- Nationale-Nederlanden Levensverzekeringen Maatschappij N.V
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