ING is a global financial institution of Dutch origin, currently offering banking, investments, life insurance and retirement services to meet the needs of a broad customer base. Going forward, we will concentrate on our position as an international retail, direct and commercial bank, while creating an optimal base for an independent future for our insurance operations (including investment management).
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As of 2009, ING Group serves 85 million private, corporate and institutional clients in over 40 countries, with a workforce of over 100,000 people.
History
The founding of ING as one company was started in 1990 when the legal restrictions on mergers between insurers and banks were lifted in the Netherlands. This prompted insurance company Nationale-Nederlanden and banking company NMB Postbank Groep to enter into negotiations. The merger into Internationale Nederlanden Groep took place in 1991. The market soon abbreviated the name to I-N-G. The company followed suit by changing the statutory name to ING Groep N.V. Since 1991, ING has developed from a Dutch company with some international business to a multinational with Dutch roots. This was achieved through a mixture of organic growth, such as the creation of ING Direct from scratch, as well as various large acquisitions.
ING Annuities
Among the numerous products sold by ING are a single-premium immediate annuity, variable annuities, and an extensive selection of fixed annuities with a wide variety of terms, conditions, riders and options.
ING Annuities Financial Ratings and Strength
ING annuities were assigned the following ratings by the four major rating agencies:
- A.M. Best: A (3rd-best out of 16 categories)
- Standard & Poor’s: A (6th-best out of 22 categories)
- Moody’s: A2 (6th-best out of 21 categories)
- Fitch: A- (7th-best out of 19 categories)
*Company ratings current as of October 1, 2010
