Dutch ING Group has reduced its stake in insurer NN’s outstanding capital from 68.1% to 54.6%, following significant investor demand for NN shares. NG announced that it has increased the number of ordinary shares to be sold in the offering of NN Group from an initial 43 million to 52 million ordinary shares of NN […]
The European Central Bank has appointed Aumdi, Deutsche Asset & Wealth Management (DeAWM), ING and State Street Global Advisors as four executing asset managers to conduct its Asset Backed Securities Purchase Programme (ASBPP) as of November. The asset managers in question will be responsible for conducting ABS purchasing transactions as instructed by the Eurosystem. The […]
Dutch banking and insurance group ING has completed the first of two sales of its real estate investment business.
Former US government Under Secretary for Economic, Business and Agricultural Affairs Joan E. Spero will quit Dutch banking and insurance group ING’s supervisory board.
Dutch insurer Aegon has announced its US reinsurance business will be sold to French reinsurer SCOR in a deal set to recoup €630m for Aegon and help it pay back the Dutch state.
Dutch insurer Aegon, which owes an outstanding €0.75bn to the Netherlands government, has followed a move by ING two weeks ago as members of its executive board decide to waive their bonuses.
ING has switched the leadership of its US insurance arm ahead of a planned sale of the business.
Members of the Dutch Parliament on Tuesday 22 March called for bonus payouts to executives at bailed-out institutions in the country to be hit with a 100% tax.
ING Group’s chief executive officer, chief financial officer and chief risk officer waived their bonuses following investor outrage.
ING plans to repay some of its debt owed to the Dutch government since it was bailed during the financial crisis in May this year, while ABN AMRO has given support to the finance ministry’s plans for a sell-off in 2014 following a quarterly net loss. Insurer Aegon will meanwhile be the first to rebuild by paying back all of its debt this year.