ING Sells Reinsurance Unit to Berkshire Hathaway

AMSTERDAM (Reuters) - Dutch financial services company ING Group NV (ING.AS: Quote, Profile, Research, Stock Buzz)(ING.N: Quote, Profile, Research, Stock Buzz) said on Friday it has agreed to sell its Dutch reinsurance unit NRG NV for about 300 million euros ($435.2 million) to Berkshire Hathaway Group (BRKa.N: Quote, Profile, Research, Stock Buzz).

ING said the sale will result in a capital loss after tax of about 100 million euros in 2007 and an improvement of 47 basis points of the debt-equity ratio of ING Group in 2008.

(Reporting by Gilbert Kreijger, Editing by Erica Billingham)