Live Insurance News

Life insurance deal dropped by KB Financial

December 19, 2012April 30, 2013

The bid that had been made for ING’s business in that sector in Korea has now been removed. Though ING Groep had received a bid on its Korean life insurance assets, that opportunity has now been lost as the sole buyer who had been involved in the deal has now withdrawn the offer that it had made. KB Financial Group was the would be buyer of the business that ING held in that market of Korea. Now, KB Financial, which is based in Seoul, has pulled out the bid that…

International insurance deal made by son of Asia’s richest man

October 22, 2012April 30, 2013

Richard Li, Hong Kong tycoon, has acquired three units of ING for $2.1 billion Younger son of the richest man in Asia, and businessman in his own right, Richard Li, is making international insurance news by purchasing three the coverage units of ING Hong Kong, Thailand, and Macau, in a cash acquisition of $2.14 billion in cash. The Dutch financial services firm has now advanced significantly toward paying off its bailout. ING has been taking dramatic steps in order to try to pay back its state bailout funds, and the…

Insurance news shows ING expects its Asian business to sell quickly

August 10, 2012August 10, 2012 H. Cutner

The Dutch banker and insurer is selling parts of itself to repay state assistance. The latest insurance news about ING includes its announcement from its chief executive, that it believes that its sale of elements of its $7 billion in business in Asia will be quite fast and easy. It will use the funds it obtains to repay the state and meet its 2008 E.U. bailout requirements. It has also released additional insurance news, which says that it is getting ready for the sale of its American and European units…