FACTBOX-Interested buyers for ING's insurance units

Wed Nov 4, 2009 6:26am EST
 
[-] Text [+]

AMSTERDAM, Nov 4 (Reuters) - Dutch bancassurer ING Groep (ING.AS) is selling its worldwide insurance operations over the next four years as part of a restructuring ordered by the European Commission. [ID:nLQ54845]

A number of companies have already expressed interest in buying the operations, which collectively make up the world's sixth-largest insurer. Following are some of the potential bidders, with the most recent parties first:

* AVIVA (AV.L)

Aviva's Chief Executive Andrew Moss said on Nov. 4 that the British insurer could take a look at ING's operations. [ID:nWLA7259]

Aviva raised more than 1 billion euros on Nov. 3 with the IPO of part of its stake in Dutch insurer Delta Lloyd. It retained a majority in the company though. [ID:nL3529121]

* PZU

Poland's largest insurer said on Oct. 26 it was interested in the ING assets and would ask for more information, Polish newspaper Dziennik Gazeta Prawna reported the next day.

* MAPFRE (MAP.MC)

The Spanish insurer said on Oct. 26 said it would look at the opportunities presented by ING's asset sale, though it was focused on organic growth. [ID:nLQ168668] (Reporting by Ben Berkowitz; Editing by Jon Loades-Carter)

 

More News

Delta Lloyd falls after IPO prices at low end
Tuesday, 3 Nov 2009 06:53am EST 
ING shares halted due to high volumes
Tuesday, 27 Oct 2009 02:04pm EDT 
UPDATE 2-ING shares halted due to high volumes
Tuesday, 27 Oct 2009 01:54pm EDT 

Featured Broker sponsored link