ING Will Combine Reinsurance Operations

May 24, 2000

Holland’s ING Group announced that it plans to consolidate “its extensive reinsurance expertise and operations under the name ING [lion] Re.

Holland’s ING Group announced that it plans to consolidate “its extensive reinsurance expertise and operations under the name ING [lion] Re.

“This is a response to increasing globalisation in the reinsurance sector and is designed to ensure ongoing organic profit growth, to retain scale and to support internationally operating customers, many of whom are also developing global expansion strategies of their own. In addition, it will position ING Re to enter promising new local markets,” said the announcement.

An international team, based in Amsterdam, will combine the current ING reinsurance operations from the U.S., The Netherlands, Ireland, Japan and Bermuda under one management, headed by Jess Skiletz, Chairman, Peter Kuys, Chief Financial and Actuarial Officer, and Tom Conroy, Chief International marketing Officer.

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