ING puts insurance and private pensions division up for sale

Dutch group ING will put its insurance, private pensions and asset management companies on the Romanian market up for sale, companies that have over 2 million clients, as part of an extensive international restructuring move, which entails a focus on the banking sector and the sale of the other divisions. ING Asigurari de Viata (life Insurance) and ING Fond de Pensii (pension fund) are by far the biggest players on their respective markets, where the Dutch invested more than 200 million euros over time. “Insurance, private pension and investment management companies, Romanian ones included, will be sold by 2013, but how this will occur is yet to be decided. The option preferred by the group is an IPO, but it depends on what opportunities will be available, where supply will meet demand,” Cornelia Coman, general manager of ING Asigurari and chairperson of the Board of Directors of ING Pensii, told ZF.