ING Groep NV, the largest Dutch financial-services company, said it’s taking steps to prepare its U.S. insurance business for an initial public offering and reported a sixfold increase in banking profit.
ING rose as much as 4 percent in Amsterdam trading after saying it plans to bring accounting and hedging practices for variable annuities at its U.S. insurance unit “more in line with U.S. peers,” while banking earnings surged as loan-loss provisions fell.
