Royal & SunAlliance Canada Adds ING Commercial Marine Business

July 14, 2005

ING Canada announced that Royal & SunAlliance Canada (R&SA) has acquired the renewal rights of ING Insurance Company of Canada's $13-million commercial marine insurance business, effective Sept. 1, 2005.

Under the terms of the agreement, R&SA has acquired the renewal rights to all ING Insurance's commercial ocean marine insurance business, which includes hull, cargo and liability insurance as well as yacht programs underwritten through several Managing General Agencies.

ING Insurance will however continue to provide insurance to individual yacht owners as part of their home or cottage coverage.