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ING to sell stake in ING-BOB Life to BNP Paribas Cardif

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The transaction is part of ING’s earlier announced process to divest ING’s insurance and investment management businesses. The process to divest the remaining insurance and investment management businesses in Asia is on-going and any further announcements will be made if and when appropriate. Today’s announcement does not affect ING Bank’s 13.7% stake in Bank of Beijing, nor does it affect ING’s Commercial Banking activities in China. ING’s Chinese life insurance joint venture was established in 2002 and today operates eight branches in seve... Read More »

Aegon and Banco Santander complete exclusive 25-year partnership in Spain

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Consolidates Aegon's strong position in Spain Supports Aegon's broader strategy to become a leader in its chosen markets Aegon has completed an exclusive 25-year strategic partnership with Banco Santander, Spain's largest financial group, first announced last December. Under the terms of the agreement, Aegon has acquired a 51% stake in both a life insurance company as well as in a non-life insurance company for a consideration of EUR 220 million. The joint ventures will distribute life and general insurance products through Banco Santan... Read More »

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