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ING Group : ING update on preparations for ING Insurance IPO



         ING Group : ING update on preparations for ING Insurance IPO

Today, Jan Hommen, CEO of ING Group, and members of the executive team of ING
Insurance will provide an update on the preparations for an IPO of ING
Insurance at a meeting with investors and analysts in London.

In his presentation, Jan Hommen will give an update on the progress of the
restructuring of ING Group, showing that ING has entered the end phase. The
company is now more focused, less complex and more robust. In August, ING
reached an agreement on the sale of ING Life Korea and  the divestment of the
Asian insurance and investment management activities is now almost complete.
The process to divest the remaining Asian businesses is ongoing and ING is
working on various options for the divestment of ING Life Japan. ING U.S.,
ING's U.S.-based retirement, investment and insurance business was
successfully listed on the New York Stock Exchange in May and on 13 September
filed a registration statement with the U.S. Securities and Exchange
Commission in connection with a possible sale of a second tranche of ING
U.S.'s common stock by ING Group.  

For the divestment of ING's European insurance and investment management
businesses, the base case is an Initial Public Offering (IPO). Preparations
are on track and depending on market conditions, a transaction is planned for
2014. The transaction structure is still to be determined and could include a
(partial) spin-off. An IPO or spin-off requires substantially the same
preparations. Key criteria to assess the transaction structure include capital
considerations and the effect on shareholder value, particularly in light of
market conditions.  

The presentations delivered by members of the executive team of ING Insurance,
Lard Friese, Delfin Rueda and Dorothee van Vredenburch, provide an overview of
the business and strategy of ING Insurance, the capital framework and how ING
Insurance is preparing for the planned IPO in 2014. ING Insurance forms a
unique combination of mature and growth markets and the strategic plans show
how the full value of its leading market positions can be extracted. The
experienced leadership team will show how the organization is committed to
focus on customers, improve efficiency and generate capital at the same time.
    

All presentations are available online at www.ing.com. The keynote speech by
Jan Hommen (starting at 09:00 CET) and all other presentations can be followed
live via webcast at www.ing.com/ir.

Press enquiries                             Investor enquiries
Ingeborg Klunder                            Investor Relations
+31 20 57 66371                             +31 20 57 66396
Ingeborg.Klunder@ing.com                    Investor.Relations@ing.com
ING PROFILE
ING is a global financial institution of Dutch origin, offering banking,
investments, life insurance and retirement services to meet the needs of a
broad customer base. Going forward, we will concentrate on our position as an
international retail, direct and commercial bank, while creating an optimal
base for an independent future for our insurance and investment management
operations
IMPORTANT LEGAL INFORMATION
Certain of the statements contained herein are not historical facts,
including, without limitation, certain statements made of
future expectations and other forward-looking statements that are based on
management's current views and assumptions and
involve known and unknown risks and uncertainties that could cause actual
results, performance or events to differ materially
from those expressed or implied in such statements. Actual results,
performance or events may differ materially from those in such statements due
to, without limitation: (1) changes in general economic conditions, in
particular economic conditions
in ING's core markets, (2) changes in performance of financial markets,
including developing markets, (3) consequences of a
potential (partial) break-up of the euro, (4) the implementation of ING's
restructuring plan to separate banking and insurance
operations, (5) changes in the availability of, and costs associated with,
sources of liquidity such as interbank funding, as well as
conditions in the credit markets generally, including changes in borrower and
counterparty creditworthiness, (6) the frequency
and severity of insured loss events, (7) changes affecting mortality and
morbidity levels and trends, (8) changes affecting persistency levels, (9)
changes affecting interest rate levels, (10) changes affecting currency
exchange rates, (11) changes in investor, customer and policyholder behaviour,
(12) changes in general competitive factors, (13) changes in laws and
regulations, (14) changes in the policies of governments and/or regulatory
authorities, (15) conclusions with regard to purchase accounting assumptions
and methodologies, (16) changes in ownership that could affect the future
availability to us of net operating loss, net capital and built-in loss carry
forwards, (17) changes in credit-ratings, (18) ING's ability to achieve
projected operational synergies and (19) the other risks and uncertainties
detailed in the Risk Factors section contained in the most recent annual
report of ING Groep N.V. Any forward-looking statements made by or on behalf
of ING speak only as of the date they are made, and, ING assumes no obligation
to publicly update or revise any forward-looking statements, whether as a
result of new information or for any other reason. This document does not
constitute an offer to sell, or a solicitation of an offer to buy, any
securities.

 

PDF-version of the press release

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This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
the
information contained therein.

Source: ING Group via Thomson Reuters ONE
HUG#1729961
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