Insurance Asia/Pacific
Well-placed to benefit from the region’s growth
Key points
- Asia/Pacific region continues to be a high-growth market
- Present in the right markets to secure profitable long-term growth
- Accounts for almost half of the Group’s total value of new business
- Further strengthening of bank distribution
With economic growth and wealth creation in Asia continuing to outpace other regions, Insurance Asia/Pacific is well-positioned to capitalise on opportunities for further growth. As a key value creator for ING, Insurance Asia/Pacific has a strong footprint in the region with a comprehensive product portfolio and multi-distribution capabilities.
Profit and loss account (underlying)
| in EUR million | 2007 | 2006 | change |
|---|---|---|---|
| Premium income | 12,632 | 12,136 | 4.1% |
| Operating expenses | 1,115 | 965 | 15.5% |
| Underlying profit before tax | 576 | 621 | –7.2% |
| Total profit before tax* | 576 | 636 | –9.4% |
* Total profit before tax is defined as profit before tax including divestments and special items.
Key figures
| 2007 | 2006 | |
|---|---|---|
| Value of new life business (EUR million) | 442 | 421 |
| Internal rate of return | 16.8% | 16.8% |
| Embedded value of life business (EUR million) | 2,204 | 1,343 |
| Economic capital (EUR billion) | 7.0 | 7.5 |
UNDERLYING PROFIT BEFORE TAX
in percentages
GEOGRAPHICAL BREAKDOWN OF PREMIUM INCOME
in percentages
* India, China, Hong Kong, Thailand and Malaysia.
