ING sale increases focus on pensions

clock •

MEXICO - ING has agreed to sell its non-core insurance business to AXA to concentrate on its pension and annuity business.

The deal will cost AXA US$1.5bn (€1bn) and see it take over Seguros ING SA de CV and subsidiaries. Tom McInerney, ING executive board member and CEO for ING Insurance Americas, said the group sa...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Mexico

Mexico

Two Mexican pension funds to merge

MEXICO - Mexican bank Grupo Financiero Banorte SAB has agreed to merge its pension fund with Afore XXI, the pension fund half owned by the Mexican Social Security Institute (IMSS) and Prudential.

Jaishree Kalia
clock 18 August 2011 •
Mexico

Principal Group to buy HSBC's Mexican pension business

MEXICO - The Principal Group will acquire HSBC's Mexican pension fund business for $198m.

Raquel Pichardo-Allison
clock 12 April 2011 •
Mexico

Mexico to allow outside firms to help manage worker pensions

MEXICO - Mexico will allow pension operators to hire third-party firms beginning in May to help manage their investments, the chief of the country's retirement-fund regulator said.

Thomas Black at Bloomberg News
clock 11 April 2011 •
Trustpilot