ING's business lines


ING Bank has defined three categories of markets – Market Leaders, Challengers and Growth Markets.

Market Leaders are the Benelux countries where we currently have leading market positions in Retail Banking and Commercial Banking.

Challengers are units with retail activities that are mainly in the form of direct banking services, giving them a cost advantage over traditional banks. Challengers are the following countries: Germany, Spain, Italy, France, Australia and Austria.

Growth markets are where we offer a full range of Retail and Commercial Banking services in strongly expanding economies that offer good growth opportunities. ING Bank’s Growth Markets are Poland, Romania, Turkey and our stakes in Asia.

ING Bank currently offers retail banking services to individuals and small and medium-sized enterprises in Europe, Asia and Australia. A full range of products and services is provided, albeit offerings may vary according to local demand. ING Bank also offers commercial banking services to customers around the world and serves a range of organisations, including multinational corporations, governments, financial institutions and supranational organisations, through an extensive network in more than 40 countries. We provide a range of products and services to support our customers’ needs.

NN Group*

NN Group is a leading insurance and investment management company with a strong, predominantly European presence in 18 countries. With more than 12,000 employees, it offers retirement services, insurance, investments and banking to retail, SME, corporate and institutional customers. Its business activities are structured along the lines of the following reporting segments: Netherlands Life, Netherlands Non-life, Insurance Europe, Japan Life, Investment Management, Other and Japan Closed Block VA.

Netherlands Life

Netherlands Life offers a range of group life and individual life insurance products. Its group life policies are primarily group pension products. Its individual life insurance business primarily consists of the closed-block operation of the individual life portfolios (comprising a range of discontinued products sold prior to 2012) of Nationale-Nederlanden, RVS and ING Verzekeringen Retail, formerly known as Postbank Insurance. Netherlands Life also provides pension administration and management services through its AZL brand.

Netherlands Non-life

Netherlands Non-life offers a broad range of non-life insurance products - motor, transport, fire, liability, travel and income protection (disability and accident insurance) - to retail, self-employed, SME (small and medium-sized enterprises) and corporate customers. It does this through multi-channel distribution such as regular and mandated brokers, ING Bank and direct via the internet. Its Movir brand offers individual disability insurance to specific groups in the medical and business professions.

Insurance Europe

Insurance Europe primarily offers life insurance, mainly to retail, self-employed, SME and corporate customers in 11 countries: Poland, Turkey, Czech Republic, Slovak Republic, Romania, Hungary, Bulgaria, Belgium, Spain, Greece and Luxembourg. It also offers pensions in some of these markets and non-life insurance in Belgium and Spain, and healthcare insurance in Greece.

Japan Life

In Japan, NN Group primarily offers a range of COLI (corporate owned life insurance) products to SMEs and owners and employees of SMEs through independent agents and bancassurance. COLI products are traditional life insurance policies with an average duration of nine years that a company, typically an SME, takes out on the lives of executives or employees, whereby the company is both the policyholder and the beneficiary of the policy. COLI products are designed to address the protection, savings, and retirement preparation needs of SMEs and owners and employees of SMEs in a tax-efficient manner.

Investment Management

Investment Management offers a wide variety of actively managed investment products and advisory services to retail and institutional customers in all major asset classes and investment styles. In addition, it manages the assets of NN Group’s businesses. Investment Management offers its products and services globally through regional centres in several countries across Europe, the United States, the Middle East and Asia, with the Netherlands as its main investment hub.


’Other’ comprises the business of Nationale-Nederlanden Bank and ING Re (NN Group’s internal reinsurer), the results of the holding and other results.

Nationale-Nederlanden Bank offers a range of banking products, especially mortgages and savings, to retail customers in the Netherlands.

ING Re is NN Group’s internal reinsurer located in the Netherlands. ING Re primarily offers reinsurance to NN Group’s businesses. It manages its risks through ceding excess insurance risk to external reinsurers and hedging (a major part of) its market risks. ING Re also reinsures the minimum guarantee obligations of the Japan Closed Block VA.

Japan Closed Block VA

Japan Closed Block VA comprises NN Group’s closed-block single premium variable annuity (SPVA) individual life insurance portfolio in Japan. This portfolio consists of SPVA products with substantial minimum guarantee obligations sold predominantly from 2001 to 2009. In 2009 ING ceased the sale of these products and placed this portfolio in run-off. This portfolio has been classified as a closed-block and is managed as a separate segment.
Over 90% of the portfolio is projected to run off by 2019, due to the short-term maturity profile of the SPVA products.

* NN Group N.V., formerly called ING Insurance Topholding N.V., merged with ING Verzekeringen N.V. effective as of 1 March 2014. As a result the legal entity ING Verzekeringen N.V. ceased to exist and NN Group N.V. became the legal successor of ING Verzekeringen N.V. as the holding company of the European and Japanese insurance and investment management operations.

Last modified: 31 March 2014

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