ING confirms the sale of its reinsurance operations in the United States

By ceding its reinsurance activities in the United States to Reinsurance Group of America (amount of transaction being undisclosed), ING has paid up a capital of 100 million EUR (141 million USD) in 2010. Expected since October 2009, this move follows the sale of numerous assets in recent weeks. The pursued goal is the refund of the 10 billion EUR (14 billion USD) loan provided by the Dutch State at the end of 2008. So far, ING has repaid 5.6 billion EUR(7.8 billion USD). The company has also proceeded to a capital increase of 7.5 billion EUR (10.5 billion USD).

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