Blackstone LedInvestor Group Announces Launch of Insphere Insurance Solutionssm

Phillip J. Hildebrand Named as Chief Executive Officer
NEW YORK--(Business Wire)--
A group of private equity investors, including affiliates of The Blackstone
Group, Goldman Sachs and Credit Suisse, has announced plans to launch Insphere
Insurance Solutionssm. (http://www.insphereinsurancesolutions.com)

This new company expects to be the nation`s largest independent career agent
distribution group offering life, health, long-term care and retirement products
for small businesses and the middle-income market. Long-time insurance industry
executive Phillip J. Hildebrand has been named as chief executive officer for
the new company.

"Insphere Insurance Solutions will be exclusively focused on the under-served
small business and the middle income market," said Hildebrand. "This market has
been largely ignored by major insurance carriers and agents who have migrated to
serve more affluent consumers. This has resulted in a scarcity of distribution
in this market."

The small business and middle market is the fastest growing segment in the
industry. There are over 30 million middle-income households who are faced with
significant financial challenges, including rising unemployment, growing
concerns about healthcare inflation, loss of insurance benefits at their
workplace, and uncertainty around future of Medicare and Social Security. A
study by the Life Insurance and Market Research Association (LIMRA) found 44% of
the middle market considered themselves under-insured on life insurance.
Insuring this group would add $9.5 trillion in insurance and $17 billion in
premiums, according to the report.

Even though the middle market has grown considerably over the past two decades,
industry experts cite a dramatic decline in the number of carriers and insurance
professionals who serve this market. The number of companies serving the middle
market declined by some 37% over the last decade ending in 2006, and the number
of overall agents declined by 16%.

The small business market is also a rapidly expanding, yet under-served segment.
According to the U.S. Census Bureau, some 89% of all firms have fewer than 20
employees. A report by the national association of America`s Health Insurance
Plans found that 70% of firms with less than 10 employees do not provide health
insurance. As economic pressures have intensified, even those small businesses
that currently offer health insurance to their employees are faced with the
difficult decision to reduce or eliminate insurance coverage.

"We are currently in discussions with a number of leading life, health,
long-term care and retirement carriers about our capabilities in reaching small
business and the middle market," said Hildebrand.

As one if its initial solutions, Insphere Insurance Solutions announced its
intention to enter into a marketing agreement with ING, a leading global banking
and insurance company, to distribute the company`s term life and universal life
insurance products. The company expects to begin marketing ING insurance
policies on a pilot basis in 90 days.

Insphere Insurance Solutions expects to be the largest independent career agent
insurance distribution group in America, with a force of 3,500 agents and
offices in over 40 states expected when the company commences services in 2010.
Hildebrand noted that the company plans to grow geographically and into
communities across the country, and will be actively recruiting experienced and
new insurance field managers and agents, with an objective to double the number
of dedicated independent Insphere Insurance Solutions agents over the next few
years.

"Because of our size and scale, we expect to be able to offer significant
infrastructure and support for field managers and agents including lead
generation, training, compliance, marketing and technology capabilities. We also
believe our compensation will be unique, with an equity compensation component
expected to be offered to both field managers and agents" added Hildebrand.

Prior to being named CEO of Insphere Insurance Solutions, Hildebrand had over a
30-year career with New York Life, serving in several executive management
positions with the company including Head of Distribution. He was named Vice
Chairman in 2006. Hildebrand retired from New York Life in 2007 and has since
served in other advisory and executive positions in the insurance industry.

About Insphere Insurance Solutionssm

Insphere Insurance Solutionssm is unique as a specialist in small business and
middle-income market life, health, long-term care and retirement insurance. The
company will be the largest independent career agency distribution group, with a
sales force of 3,500 agents and offices in more than 40 states when the company
commences services in 2010. For more information about Insphere Insurance
Solutions, visit http://www.insphereinsurancesolutions.com.

About the ING Family of Companies

Life insurance products are issued by ReliaStar Life Insurance Company
(Minneapolis, MN), ReliaStar Life Insurance Company of New York (Woodbury, NY)
and Security Life of Denver Insurance Company (Denver, CO). Within the state of
New York, only ReliaStar Life Insurance Company of New York is admitted, and its
products issued. All are members of the ING family of companies.

Other than the ING companies identified, no other entities, whether distributing
or listed on the material, are affiliated with the ING family of companies.

CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995

This new release includes forward-looking statements relating to the development
of Insphere Insurance Solutions ("Insphere") that are subject to certain risks,
uncertainties and assumptions. Actual results may vary materially.
Forward-looking statements speak only as of the date they are made, and we do
not undertake any obligation to update them to reflect changes that occur after
that date. Factors that could cause actual results to differ materially include,
but are not limited to, Insphere`s ability to obtain applicable licenses and/or
appointment and Insphere`s success in entering into and maintaining satisfactory
relationships with insurance carriers and agents.

Insphere Insurance Solutions
Donna Ledbetter, 817-255-5405
Donna.Ledbetter@InsphereInsuranceSolutions.com
or
Hill & Knowlton
Jessica Anderson, 678-687-9784
Jessica.Anderson@hillandknowlton.com
or
Alexandra Ames, 212-885-0608
Alexandra.Ames@hillandknowlton.com

Copyright Business Wire 2009