ING in the world
ING Group was brought to life in 1991 through the merger between Nationale-Nederlanden and NMB Postbank Groep. Combining roots and ambitions, the newly formed company called itself 'Internationale Nederlanden Group'. Market circles soon abbreviated the name to ING. The company followed suit by changing the statutory name to “ING Groep N.V.”
Since the merger, ING Group experienced rapid expansion. The company expanded mainly through autonomous growth, but it also made several large international acquisitions. Notable examples are the investment bank and asset management firm Barings in 1995, the American insurer Equitable of Iowa Companies in 1997, the Belgian Bank Brussels Lambert in January 1998, the German BHF-Bank in 1999 and the American insurers ReliaStar, Aetna Financial Services and Aetna International in 2000, the Polish Bank Slaski and the Mexican insurer Seguros Comercial America in 2001.
ING has gained recognition for its integrated approach of banking, insurance and asset management. Furthermore, the company differentiates itself from other financial service providers by succesfully establishing life insurance companies in countries with emerging economies. Another specialisation is ING Direct, an internet and direct marketing concept with which ING is rapidly winning retail market share in mature markets. Finally, ING distinguishes itself internationally as a provider of 'employee benefits', i.e. arrangements of non-wage benefits, such as pension plans for companies and their employees.
ING Groep N.V. is quoted on the stock market in Amsterdam. It owns all the stock in ING Bank N.V. and ING Verzekering N.V. All the activities in the field of banking, insurance and asset management are incorporated in these two companies. This structure is governed by Dutch legislation, which requires the separation of banking and insurance activities. ING Verzekeringen N.V. is the sole owner of its subsidiary company ING Continental Europe Holdings B.V., with its headquarters in the Hague, which is the 100% owner of the joint stock companies in Central and Eastern Europe - in the Czech Republic, Slovakia, Hungary, Poland and Romania.
ING Group N.V. does not focus only on profit but it also supports corporate social responsibility. You can find our report about these activities in the document called Corporate Responsibility report 2008.
